By Dan Moisand | November 15, 2012 | Comments Off on NEWS & NOTES Fall 2012
Making News…
Ron Tamayo wrote a column on how markets may or may not have been affected by the results of presidential elections for the Winter Park/Maitland Observer.
Dan‘s regular monthly Q&A’s for Florida Today urged inquirers to stay focused on their goals rather than get caught up in the emotion of the elections or fears of near term issues such as the fiscal cliff. He also advised them to evaluate a slew of year end considerations with more than just one tax year in mind.
In his columns for Financial Advisor magazine, Dan reminded his peers that financial planning is about much more than number crunching. As he put it, during the 20+ years he has been in practice, “…. I have yet to find the (software) package that cares about a human being or a person’s family.” His October column encouraged planners to avoid becoming overly hyped-up about the elections. “Our view is if you want your clients to be level-headed and rational, you should be level-headed and rational yourself. We are in a period of high quantity but low quality information. Our clients need the opposite and we are committed to providing that to them.” In November, the subject was how a “live off interest and not touch principal” approach never works for most people.
Dan‘s September column for the Journal of Financial Planning urged financial planners to continue to increase their professionalism and push for regulations that put clients’ interests ahead of Wall Street’s, something many in Congress resist. “Putting the National Associaton of Securities Dealers in charge of investment advisors is little different than having drug companies regulate doctors,” said Dan.
In The News…
Several of our team members were quoted in various articles:
Charlie Fitzgerald, Derrick Chandler, and Mike Salmon participated in a hotline on October 7th at the Orlando Sentinel during Financial Planning Week. Their responses will appear in the Sentinel in the coming months. Close to 350 calls were fielded, with investment and retirement questions being the most popular subjects.
Dan shared our opinion about so-called “absolute returns” funds in a September Financial Advisor magazine article. “Advisors need to seriously assess how likely it is that the potential result (of these funds) will be good enough to overcome the added complications, added risks, added costs, tax inefficiency, etc. We think it is downright unlikely.”
Charlie was a significant source in an Orlando Sentinel piece following up on developments with recent legislation. A provision, not mentioned in the article, concerned licensing. Several people, banned from the securities business, had subsequently become licensed as insurance agents and were selling market-indexed annuities as investments in the stock market. The insurance regulators did not have the authority to consider these agent’s past indiscretions until this legislation was enacted. Now several of these financial predators have been shut down.
Events
As President of Financial Planning Association (FPA) of Florida, Charlie and several colleagues travelled to Tallahassee on September 17th. They held meetings with state regulators, interviewed potential lobbyists, and attended a Cabinet meeting. They also met briefly with CFO Jeff Atwater to receive the Cabinet-wide resolution proclaiming October 1-7, 2012 as Financial Planning Week. Charlie took a second trip to Tallahassee to introduce officials from the Certified Financial Planner (CFP) Board to his regulatory contacts. State regulators received a solid education on the merits of the CFP mark and both the state and the CFP Board developed procedures to mutually share information regarding regulatory activities and investigations.
Dan moderated a “knowledge café” at the national conference of the FPA in San Antonio with attendees from outside the U.S. A knowledge café is a style of meeting that allows a large group to organize small group discussions and share the ideas of the smaller groups with all in attendance.
Members of our firm attend a fair number of conferences. One of our favorites is the FPA Retreat, one of the premier meetings for advanced practitioners. We are pleased to share that Dan will be chairing the task force organizing the 2013 meeting. “Bar none this is my favorite event of the year and I am thrilled to be part of putting it together,” explains Dan.
Contact Us
Moisand Fitzgerald Tamayo, LLC is an Orlando, Tampa and Melbourne, Florida based fee-only financial planner serving central Florida and clients across the country. Moisand Fitzgerald Tamayo, LLC specializes in providing objective financial planning, retirement planning, and investment management to help clients build, manage, grow, and protect their assets through all phases of one’s life and the many transitions in between. If you have any questions or would like to discuss anything further, please give us a call or send us a note. If you are not a client and wish to receive emails notifying you of new posts – no more than once per month – fill out the subscription information in the sidebar to the right. For more frequent updates, follow us on Facebook, LinkedIn, orTwitter.
Important Additional Information & Disclosures
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Moisand Fitzgerald Tamayo, LLC-“MFT”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.
Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from MFT.
Please remember that if you are a MFT client, it remains your responsibility to advise MFT, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. MFT is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. Tax advice is given only to clients and only when agreed to by MFT. A copy of the MFT’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request.
Please Note: MFT does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to MFT’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Please Note: Limitations: While MFT does NOT pay for recognition, awards, or publicity, neither rankings and/or recognition by unaffiliated rating services, publications, or other organizations, nor the achievement of any designation or certification, should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if MFT is engaged, or continues to be engaged, to provide investment advisory services. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser. Rankings are generally limited to participating advisers. No ranking or recognition should be construed as a current or past endorsement of MFT by any of its clients. ANY QUESTIONS: MFT’sChief Compliance Officer remains available to address any questions regarding rankings and/or recognitions, including providing the criteria used for any reflected ranking.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your MFT account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your MFT accounts; and, (3) a description of each comparative benchmark/index is available upon request.
Dan Moisand is a fee-only financial advisor with Moisand Fitzgerald Tamayo, LLC. He is a regular contributor for multiple outlets, including Florida Today, MarketWatch, and The Wall Street Journal. His writing and financial advice have also been featured in Financial Planning, Investment Advisor, Wealth Manager/Advising Boomers, Forbes, Smart Money, and The New York Times, among other publications. He is the only two-time winner of the Journal of Financial Planning’s “Call for Papers” competition and has been named a top financial planner and advisor by multiple publications. Investment News named Dan one of the “twenty most influential men and women” in the history of financial planning. He currently serves on the Board of Directors for the CFP (Certified Financial Planner) Board.
As a Sanctuary From The Noise®, we only post information we believe timely and important to the long term financial success of our clients. Follow us to receive emails - no more than once a month - about new posts.
As President of Financial Planning Association (FPA) of Florida, Charlie and several colleagues travelled to Tallahassee on September 17th. They held meetings with state regulators, interviewed potential lobbyists, and attended a Cabinet meeting. They also met briefly with CFO Jeff Atwater to receive the Cabinet-wide resolution proclaiming October 1-7, 2012 as Financial Planning Week. Charlie took a second trip to Tallahassee to introduce officials from the Certified Financial Planner (CFP) Board to his regulatory contacts. State regulators received a solid education on the merits of the CFP mark and both the state and the CFP Board developed procedures to mutually share information regarding regulatory activities and investigations.