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FPA NYC Calms Record Crowd
At Financial Fitness Workshop
Standing Room Only at
Investment Sessions
The annual Financial Fitness Workshop put on by the
New York City chapter of the Financial Planning
Association (FPA) drew a record crowd of more than
300 at the height of the Wall Street turmoil last month.
Co-hosts were Kiplinger’s Personal Finance and the NYU
School of Continuing and Professional Studies. They lined
the walls and sat on the floor at two sessions dealing with
the construction of a diversified investment portfolio.
Investing
Introduction to Basics
Scott Brewster, CFP, MBA, EA, Brewster Financial Planning,
Brooklyn, conducted the introductory session on
diversification. He urged his listeners: * Not to try to time
the market * Don’t invest
money for the long-term
that you’ll need for the
short-term * Create a
3-6 month emergency
fund * Pick and formalize
an investment strategy
with which you are
comfortable * Use a
financial advisor; contact
the FPA for help in
finding and choosing
one. (646) 249-9880.
scott@brewsterfp.com
5-Step Construction
Gregg S. Fisher, president and CEO of Gerstein Fisher &
Associates, Manhattan, walked his listeners through five
steps in constructing a diversified portfolio. He started
with 40% long-term government bonds and 60% S&P 500
Index. In his first step, he decreased the interest rate risk
by shortening the duration of bond exposure to five-year
Treasury notes. In the second step he reduced the S&P
Index to 45% and added 15% foreign large company
stocks. His third step saw further diversification of the
60% with foreign and domestic small cap stocks. The
fourth step added value companies: 2 part value, 1 part
growth. After the fifth step, the final portfolio looked like
this: 36% 5-year T notes, 20% S&P 500 Index, 11% F/F
large value research index, 10% MSCI EAFE Gross Div $,
7% F/F small value research, 6% commodities, 4% gold,
3% F/F US small growth research and 3% international
small index. (800) 473-1155. Gregg@GersteinFisher.com
Mutual Funds & ETFs
Erika Safran, CFP, Financial
Asset Management, Manhattan,
addressed questions like: Do
managed mutual funds reduce
risk in a bear market? Are index
and exchange traded funds
riskier than mutual funds? Does
the credit risk exposure of an ETF
sponsor affect you?
Socially Responsible Investing
Michael Herbst, a mutual fund analyst with
Morningstar, contended that making money is
compatible with social responsibility. He said socially
responsible investing is “experiencing a continuing
evolution.” Michael_Herbst@morningstar.com
Retirement
Outliving Your Money
David Mendels, CFP, MBA,
Creative Financial Concepts,
Manhattan, showed listeners
how much they can afford
to spend and examined “5
easy answers.” (646) 452-3415.
dmendels@creativefin.net
Income Strategies
Valerie Adelman, CFP, EA, LTCF. CCPS, Chestnut Financial,
Manhattan and Riverdale, explored where bonds are right
for seniors and discussed annuities: “dirty word or a saving
grace.” (718) 601-8770. valerie@chestnutfinancial.net
Distribution Mistakes
Jenifer Lee, CFP, CPA, MBA, 4D Tax and Financial
Planning, Manhattan, told how to get the most value
out of retirement savings and avoid costly mistakes.
(917) 755-0516. jlee@4Dnyc.com
Long-Term Care
Insurance
Abe Gruenwald, CLU,
president of 65 Plus – The
Health Care Safety Net,
Manhattan, showed where
LTCI is appropriate. He also
explored tax advantages
and NYS Partnership plans.
(845) 357-6565. AbeG65Plus@Hotmail.com
Tips & Tactics
Broker, Planner,
Investment Advisor
William J. Super,
CFP, Manhattan
explained the financial
disciplines and how
to pick the right one.
He told listeners the
“right questions to askl”
and how to do their
own due diligence.
(917) 903-3574.
billsupper@gmail.com
Creating a Financial Plan
David J. Bloom, J.D., CFP,
JP Morgan Private Wealth
Management, Manhattan,
and workshop chairman, told
listeners what they should
know before hiring an expert.
He urged knowing the
dollar amount needed in the
first year of retirement and
organizing wealth transfer
plans in a tax-efficient manner.
(212) 648-1022.
david.j.bloom@jpmorgan.com
Wills, Trusts and Healthcare Proxies
Judith Volkmann, Esq., CPA. a trusts and estates attorney,
provided a guide to wills, powers of attorney and
health care proxies. She also got into trusts and showed
examples. (212) 683-3560. judithvolkmann@nysbar.com
Women & Money
Stacy Francis, CFP, CDFA, Francis Financial, Manhattan, gave
a wide-ranging
presentation:
roadmap for
a luxurious
retirement lifestyle,
creating a realistic
budget, evaluating
income sources
and managing
assets. Francis is
the founder of
Savvy Ladies, a
2,000-member
organization that empowers women to take control of their
finances. (212) 374-9008. stacy@francisfinancial.com
Lifestyle Choices
What To Do With
‘Windfalls’
Clare Stenstrom, CFP of
Bourne Stenstrom Lent
Asset Management,
Manhattan, told how
to make the right
financial choices with
“sudden money”
received via such
things as insurance and
divorce settlements,
inheritances, sale of a
business and other life events. (One in three lottery winners
are broke in five years.) (212) 643-1098. clare@bscmi.com
Budgeting and Debt Management
Anja Luesink, CFP,
MBA, Luesink Financial
Planning, Manhattan,
outlined different
strategies to get out
of debt and described
the difference between
good and bad debt.
(917) 913-8200.
Anja@LuesinkFinancial.com
Credit Scores, Identity
Theft
Anthony Canale, CFP,
Brooklyn, told what the debt
consolidators and identity
protectors don’t want you to
know. (Your mother’s financial
advice may end up costing
you money.) (718) 767-1240.
acanale@verizon.net
Real Estate: Why
Now?
Guthrie Garvin of Massey Knakal Realty Services, Manhattan, described today’s real estate market and the most promising investments.(212) 696-2500 x7786. ggarvin@masseyknakal.com
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