Financial Literacy is at the Heart of Who We Are

by Matt Roberts, MFM, CFP®, CAP®, Chief Planning Officer

In 2020, we started brainstorming the most effective way for Syverson Strege to promote financial literacy, and an internal team met with several national resources to determine the best way to impact our community. With a giveback mindset, passion for financial literacy and a desire to teach, we created our very own financial literacy program called “Financial Foundations.”

Common Financial Mistakes and How to Avoid Them

by Christina Gayman, APR, Director of Communications & Marketing 

Our team of CERTIFIED FINANCIAL PLANNER™ practitioners share some of the most common financial mistakes they see, as well as their advice on how to avoid making them. 

New Video

Watch Bobby’s interview “Why I Became a Financial Planner” to learn about the other fields of study Bobby pursued before landing in the financial world, as well as the “why” behind his career choice. Don't miss it!

Financial Updates

2023 Endow Iowa Tax Update

The Endow Iowa waitlist process, previously administered by the Iowa Economic Development Authority (IEDA), will be discontinued on July 1, 2023. All applications that are currently on waitlists will not be affected by this change. Donors who apply for the Endow Iowa Tax Credit prior to June 30, 2023, will continue to be placed on the 2024 waitlist. In order to process your gift and Endow Iowa application before the system closes, donors are encouraged to make Endow Iowa qualified gifts by June 15, 2023. Please contact your planner team with any questions.

IDR Homestead Tax Exemption Applications Due July 1

Earlier this year, Iowa Gov. Reynolds signed House File 718, establishing a homestead tax exemption for claimants ages 65 or older. In addition to the homestead tax credit, eligible claimants who own the home they live in and are ages 65 or older on or before January 1 of the assessment year are now eligible for a homestead tax exemption. For the assessment year beginning on Jan. 1, 2023, the exemption is for $3,250 of taxable value. For assessment years beginning on or after Jan. 1, 2024, the exemption is for $6,500 of taxable value. Note: An exemption is a reduction in the taxable value of the home rather than a direct reduction in the amount of property tax you pay. To learn more and download the application, click here. To read the client email about this change, click here.

Schwab Transition Update

Over the next few weeks, you will likely begin to see a transition notice on TD Ameritrade’s Advisorclient.com website reminding you that your investment account(s) will be automatically transferring to Schwab’s investment platform during the first weekend in September. There is nothing for you to do at this time, and we will continue to provide updates throughout the summer. Please reach out to your planner team with any questions.   

Investment Change Notification

You likely received an email from our team in early May detailing a few investment portfolio changes our team has made as it pertains to taxable bonds and mutual funds. The information provided in that email is also linked here.

Inside Look

Employee Sabbaticals

Syverson Strege has many ways of showing appreciation for its employees, and one of the newest benefits introduced in 2023 is the option for each team member to take a sabbatical once every five years they are employed at our company. If your planner or associate financial planner will be taking their first sabbatical yet this year, they will contact you directly in advance of their scheduled time away. Rest assured that the Syverson Strege team will continue to be available should you have any questions or concerns. They can be reached at (515) 225-6000.

Unconventional Business Network

Syverson Strege was proud to recently host the Unconventional Business Network’s Iowa Forum group coffee and networking event. UBN exists to help Christian businesspeople integrate their faith at work, and several Syverson Strege employees are active in the Iowa Forum group. Syverson Strege is excited to help members of UBN build deeper relationships and advance the faith at work movement among other small business leaders.

Vote for your Syverson Strege team!

Voting is now open for the 2023 Best of Des Moines Business Record awards, and we would appreciate your vote for Best Wealth Management Firm (category #39). Votes can be cast here and are write-in submissions. Note: You do not have to fill in every category to submit for us.

• The deadline for ballot submission is the end of the day on Friday, June 9.
• Only one vote per computer (or device) is permitted.
• Results will be announced in the Sept. 22 issue of the Business Record.

Events

Pickleball with a Planner Recap

We hosted our first Pickleball with a Planner event on May 18 at Smash Park in West Des Moines with about 20 clients and planners enjoying a couple of hours of friendly competition and socialization. We look forward to continuing this fun event!

NEW: Syverson Strege Presents the “Challenges of Aging” Luncheon Event Series:

• “Challenges of Aging: The Art of Decluttering and Downsizing”

Thursday, Aug. 24 (11:30 a.m.-1 p.m.)

Downsizing can be much easier if you know how and where to get rid of your stuff. Anne Nieland with Smart Senior Transitions, LLC will help you explore how to declutter, where your unwanted stuff should go, and ways to make your donations more meaningful to you.

• “Challenges of Aging: Avoiding Scams & Protecting Your Identity”

Tuesday, Sept. 19 (11:30 a.m.-1 p.m.)

In this session, West Des Moines Police officers will provide practical tips on ways to recognize a scam, how to handle a scam and when you should notify someone. Additionally, Senior Financial Planner David Strege will share several ways to proactively protect your identity – and your finances – to help curb the potential of becoming a scam victim.

• “Challenges of Aging: Cooking for 1-2 People & Disease State Shopping/Nutrition” Tuesday, Oct. 24 (11:30 a.m.-1 p.m.)

In this session, Registered Dietitian Stephanie Labenz with Aging Resources of Central Iowa will discuss downsizing your meal preparation and cooking process, as well as provide resources for how to shop and cook to accommodate a diabetes- or heart health-friendly diet.

The events are free, but registration is required. Each session is limited to 30 registrants. Lunch will be provided for those in attendance. Visit www.onlyworkforyou.com/resources/events to register or contact Deb Longseth at (515) 225-6000 or dlongseth@onlyworkforyou.com.

Save the Date!

Be sure to save the date for the following events: 

• Sept. 28: Client Appreciation Event (4:30-7:30 p.m.) – Glen Oaks Country Club, West Des Moines, Iowa (details to come)
• Oct. 19: Southeast Iowa Client Appreciation Event (3:30-6:30 p.m.) – Sonny’s Other Side, West Point, Iowa (details to come)

Philanthropy