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FPA Orange County



September/October 2011


“In every community, there is work to be done. In every nation, there are wounds to heal. In every heart, there is the power to do it.”

~ Marianne Williamson

Com-mu-ni-ty (noun) - a social, occupational, or other group sharing common characteristics or interests and perceived or perceiving itself as distinct in some respect from the larger society within which it exists.

How do you define community? I believe it involves expanding the relationship between a group of people so that everyone can take part in the issues that affect their lives. The principle is that within a community there exists a wealth of knowledge and experience which, if used in creative ways, can be channeled into collective action to achieve the groups’ desired goals. In this President's message, I’d like to highlight the many ways you as a member can help build upon the community we call the Financial Planning Association of Orange County -

  • Invite an Allied Professional you do work with to the Allied Professionals Summit on October 19th. Go to www.alliedprofessionalssummit.com for more information.

  • Help form a new community of interest within the Orange County Chapter, for example -

    Advisers in Transition
    The Advisers in Transition community addresses the needs and interests of FPA members contemplating changes in the ownership, structure and oversight of their practices. More specifically, this community includes advisors in the process of establishing independent practices, considering retirement or ownership transfers, addressing internal and external successions, looking to grow their businesses for future transitioning to the next generation, or who are facing regulatory changes brought about by new SEC other compliance initiatives. This community includes all the parties to these various issues: young and old, experienced advisors and those newer to the profession.

    Women and Finance
    A supportive community made up of female members of FPA. This is the place to share ideas on how best to serve clients who are women and leverage the strengths that women bring to the table as financial planners.

    Life Planning
    The Life Planning community consists of Financial Professionals who view their role as going beyond writing financial plans and recommending financial products and services to meet client needs. Instead, the Life Planner gets more deeply and intimately involved with their clients' life goals, values, dreams, and aspirations. From this foundation of a deeper emotional connection, the Life Planner helps their clients make better choices in all areas of their life that are affected by money. Often this relationship extends beyond money and the Life Planner becomes a mentor to their clients who helps them make better choices in other key areas of their life.

    If you are interested in any of these (or another) community of interest, please contact me at [email protected].

  • Get involved with the NexGen community. If you are a younger planner or are new to the profession, this is the place where those who are still learning and growing as professionals can come to network and learn from more seasoned planners. See the calendar section for upcoming NexGen events.

  • Join FPA Connect – An FPA National online initiative where communities can come together to share ideas. Sign up at connect.fpanet.org/Home/ .

  • Join a committee in 2012. Better yet, don’t wait until 2012 – get involved now! Member Benefits, Education, Pro Bono, Allied Professionals, Communications, Government Relations, Membership, Partners. where does your passion lie?

“Be an opener of doors for such as come after thee, and do not try to make the universe a blind alley.”
~Ralph Waldo Emerson

With gratitude,

Carolanne Chavanne


2011 Orange County Financial Planning Day
Registration is still open for participants. This year, the event will be held on Saturday, October 8th at the Brandman University Irvine Campus. Click here for more details.

2011 Allied Professionals Summit
Please join us for an opportunity to network and learn while enjoying a delicious lunch. The program will feature our keynote speaker, 30-year asset management veteran, Robert Arnott, of Research Affliates. We will also present a distinguished panel discussing ways to effectively collaborate with other professionals from finance related industries. This year, the event will be held on Wednesday, October 19th, 10:30 am to 2:30 pm, at the Pacific Club, Newport Beach. Click here for more details.

2011 FPAOCC Quarterly Education Meeting
The fourth quarterly meeting will be on November 16th at UCI Student Center. Please read the article under Committee Focus by the Education Committee Chair, Mike Weber, for a brief description of the speakers. Registration is open. More information will be sent out through emails soon.

This year’s annual meeting will be held on October 25th at the Pacific Club in Newport Beach beginning at noon. Top of the agenda will be nominations and elections for membership of our 2012 Board of Directors. If you as a member would like to address the Board during the meeting, please notify the Board Secretary, William Cuthbertson, no later than October 18th at [email protected].

Join the FPA Orange County Chapter on LinkedIn!
We would like to invite you to join the new FPA Orange County Chapter group page on LinkedIn. Connect with other FPA Orange County members and expand your professional network exponentially! The content within this page is restricted to members of the group only.

Click here to join the LinkedIn FPA OCC Group

FPA National launches new online community site: FPA Connect
We invite you to join FPA Connect, FPA National’s new online community gathering space designed exclusively for FPA members. It’s an interactive place for you to communicate, stay informed & be involved with others in the FPA community.

Click here for details and to visit the site

Scholarship to FPA Residency Program
Did you know that there is an FPA Residency Scholarship? Funded by a grant from the Foundation for Financial Planning, the scholarship demonstrates FPA's commitment to lifelong learning and growing the next generation of financial planners. To be awarded an FPA Residency Scholarship, each applicant will have demonstrated their efforts to deliver pro bono services. While FPA is especially looking at pro bono work in financial sectors, people with contributions in other areas are also encouraged to apply. Click here for details.

Volunteer Opportunities – Volunteer Income Tax Assistance (VITA)
State Controller John Chiang's office is seeking volunteers to participate in its Volunteer Income Tax Assistance (VITA) program during the 2012 tax season. This program will assist low-to-moderate income families and individuals throughout California by providing them free income tax preparation and financial education. There will be opportunities to volunteer in many California cities on weeknights and weekends. Volunteers will be required to pass a free IRS certification exam online in order to qualify as volunteer income tax preparers. The State Controller's office will provide free statewide training and resources for volunteers. The first volunteer orientation is from 9 a.m. to 1 p.m. Saturday, Oct. 8, at Central City Neighborhood Partners, 501 S. Bixel St., Los Angeles. To register for the orientation, go to http://tinyurl.com/3j6hs5p.

If you would like to volunteer for the program, go to http://tinyurl.com/3ldqwrd or email Tina Hossain at [email protected] for more information.


Identify Potential Investment Outcomes With Scenario Analysis

Identify Potential Investment Outcomes with Scenario Analysis
by Alice Lowenstein, CFP®

“There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.” —John Kenneth Galbraith

Alice Lowenstein, CFP®, is a partner and director of managed portfolios at Litman/Gregory Asset Management LLC, a California-based independent investment adviser and publisher of the AdvisorIntelligence research service for financial professionals.

We face a high degree of uncertainty as to how the aftermath of the 2008–2009 financial crisis will play out over the next few years, and the range of potential outcomes is particularly wide. This high level of uncertainty reflects the fact that in dealing with the extremely challenging debt/deficit situation in the United States and globally, we (and central bankers and policy makers) are in largely uncharted waters. Yet against this backdrop, advisers must continue to prudently manage client assets to meet their clients’ financial objectives. Read more...

Click Here to Read More.

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FPA Orange County


10/08 10 am – 4 pm OC Financial Planning Day
10/19 10 am - 2:30 pm Allied Professionals Summit; Pacific Club, Newport Beach
10/23 - 10/28 All Day FPA Residency 2011
11/10 5:30 pm - 7:30 pm NexGen Study Group (Details to Come)
11/16 All Day Quarterly Education Meeting
12/08 5 pm - 7 pm NexGen Happy Hour (Details to Come)


FPA Orange County Education Committee
With our final Quarterly Education Meeting of 2011 scheduled for November 16th, the Education Committee is excited to finish the year strong with a full schedule of exciting topics and dynamic speakers. These will include and are not limited to:

G. Michael Phillips, Ph.D., Chief Scientist & CEO, MacroRisk Analytics
Econometrician and finance professor Michael Phillips has lead the development of MacroRisk Analytics’s patented and proprietary analytical tools since the beginning. An author of dozens of scholarly articles and monographs, Dr. Phillips also brings real-world experience to the table. He has been employed as a U.S. Department of Commerce economist and as a consultant to numerous corporations and financial institutions, both on Wall Street and ‘Main Street.’ In addition, he has served many times as an expert witness in federal and state courts regarding financial, economic, and statistical issues. He has degrees in mathematics and economics, and received his Ph.D. from the University of California, San Diego.

Matthew Kenigsberg, Senior Quantitative Analyst, Asset Allocation Division
Matthew’s presentation will be on the “Generation of Tax Alpha through the Capture of Return Spreads. Matthew joined Fidelity in 2007 and leads one of three teams within the Financial Solutions Group. He is the author of several white papers published by Fidelity, including “Pursuing Higher After-Tax Portfolio Returns” and “Municipals vs. Taxables: More Than Meets the Eye”, as well as “Roth Accounts: Seeing the Forest for the Trees” published by the Journal of Financial Planning. Matthew’s team has developed a number of online investment planning tools including the Savings Planner, the Roth Conversion Calculator, and the FPRA TEC system.

Don Marsh, Speaker and Consultant
With 40 years of experience, Don is the author of one book, and more than 200 articles. Don’s dynamic, entertaining presentation on “Marketing to the Mature Marketplace” has given audiences in the United States and around the world valuable knowledge and insight that simply can’t be found elsewhere. Highlights of his presentation will include: • Inside the Mature Marketplace • Defining Yourself in the Marketplace • The Relationship Imperative Don has been a featured presenter at more than 100 senior-industry conferences, seminars and workshops, before thousands of business owners and industry executives from 50 states and eight foreign countries.

On behalf of the Orange County FPA's Education Committee, we look forward to seeing you all at the final education meeting of the year. Registration is open. Stay tuned for more information as details for this excellent event are finalized.
FPA Orange County

Pro Bono Committee
by Julie M. Holmes-Grady, 2010/2011 Director

A Reminder to use the "BRAG List" - If you volunteer your time to any OC Community-based organizations, please report your volunteer work via our new BRAG List function. By completing the data fields, you help FPA OCC keep track of pro bono and community outreach volunteer work within the OC community. You will also help FPA National maintain statistics for our organization's national profile with the media. Both help to highlight our profession. If you have any questions, please contact Julie Holmes-Grady at [email protected]


The 2011 OCFPD is only one week away! This year, the event will be held on Saturday, October 8th at the Brandman University Irvine Campus. (Brandman University is a member of the Chapmen University system.)

The Steering Committee is made up of the following Board Members:
President Carolanne Chavanne
Pro Bono/Community Outreach Committee Director Julie M. Holmes-Grady
Government Relations Committee Director Ed Mora
Public Relations Committee Director Ralph Adamo
Partners Committee: Wesley Gunter
Non-Board Members: Andi Kang, Army Nix and Juna Chang

We will get back to you in the next edition of the Newsletter to inform you how it went! We appreciate any support you can lend!

The Steering Committee could not coordinate this event without the help of many--

Volunteers: We have over 50 Pro Bono Volunteers registered to meet one-on-one with the attendees to discuss personal financial matters. Also, we have about 10 Administrative Volunteers registered to help with the smooth flow of the events throughout the day. Thank you volunteers!

Sponsors: We want to thank six people, most of whom are FPA OCC members, who have underwritten some of the expenses we incur to put on this community event:

1. Andi Kang, CFP® Crown Wealth Management
2. Renée Trommler MetLife Reverse Mortgages
3. Sue McWayne, LCSW LivHOME, Inc.
4. Robert Trommler Wells Fargo Advisors
5. Michelle O'Haren, JD, LL.M, CPA, ChFC® Pacific Life
6. Delia Fernandez, MBA, CFP® Fernandez Financial Advisory, LLC

Thank you Sponsors!

* * * * * PRO BONO SURVEY QUESTION: As an FPA OCC pro bono volunteer, would you be interested in establishing a relationship with a "pro bono client" over a 6-month period? Or perhaps over a 1-year period?

I have been asked by a number of OC charitable organizations if we, the FPA OCC, would provide volunteers to meet this community need. As Chair of the FPA OCC Pro Bono/Community Outreach Committee, I need to get a feel from the FPA OCC membership as to the time you would consider offering.

To help you in these matters, the FPA offers "Money 101," a free online financial assessment tool for you to use, which is accessible to both planners and their pro bono clients. This tool is provided to us for free by the Foundation for Financial Planning.

Please notify me at [email protected] if you have an interest in establishing a longer-term relationship with an Orange County pro bono client.


An Update about the Foundation: Dr. Kathy Simon Abels established the Southern-California based Simon Family Foundation (“SFF”) in 2010, after serving on the Board of Directors and staff of what was formerly known as the Ronald Simon Family Foundation (currently “Simon Foundation for Education and Housing”) since its inception in 2003. Together with her father, founder Ronald Simon, and the executive staff of the original Foundation, Dr. Abels utilized her background in Clinical Psychology to help develop the Simon Scholars Program, an intensive, mentoring college-prep initiative.

Since 2003, over 400 Simon Scholars have been awarded scholarships that include financial and academic support, as well as leadership and life-skills training. In recognition of its impact, the Foundation was named the 2009 Scholarship Provider of the Year by the National Scholarship Providers Association. The Simon Scholars model is being used in chapters established by the Simon Foundation in Georgia, New Mexico and Washington, D.C. , and is being endorsed via partnership with General Colin and Alma Powell’s America’s Promise Alliance, in order to encourage nationwide expansion.

The Simon Family Foundation has its headquarters in San Clemente, California and currently serves youth in both Orange and San Diego Counties. In addition to operating its Simon Scholars Program, the Foundation supports additional causes that enhance educational and cultural opportunities for youth in search of higher learning.

Two Events were recently supported by the FPA OCC Pro Bono/Community Outreach Committee

(1) On August 3rd, the Simon Family Foundation sponsored its Simon Scholars Summer Conference - Real Money Experience at Chapman University, Orange CA.

The Real Money Experience (RMX) delivered practical financial literacy lessons that engaged students through live interaction with volunteers. Participants made financial decisions that they would face in the ‘real world’ as they visited eleven different stations. This experiential learning event, designed around national financial literacy curriculum standards, is a practical financial education event that motivates participants to take positive action. This financial literacy event gave participants the hands on experience of making financial decisions, they would face after they graduate, in a safe environment. If you want to learn more, visit: www.financialeducatorscouncil.org/rmxpsu.html.

FPA OCC provided a number of volunteers for the 2011 event. It was a fun way for FPA OCC's professional financial planners and other financial advisors to work with the students one-on-one regarding important real world decisions.

(2) Santa Ana USD Class of 2013 Simon Scholars Award Banquet - Andi Kang represented our Committee at the Awards Banquet which honored 17 high school students from the Santa Ana Unified School District on September 26, 2011 at the Wyndham Hotel.

Andi has been working with the Simon Family Foundation for many years in many capacities. She said of the event, "it was an honor to attend and celebrate the scholars and all that they have accomplished." After all, as Foundation Founder Ronald Simon has said, "Real success is about achieving what others believe to be impossible."



UC Irvine

UC Irvine Extension offers the Personal Financial Planning Accelerated Program, available fully online or in traditional face-to-face format (regular and accelerated), is registered with the Certified Financial Planner Board of Standards, Inc. Students will acquire the job knowledge requirements to sit for the CFP® Board’s CFP® Certification Examination.

UC Irvine Extension’s CFP® Live Review Course, offered twice a year-in summer and winter-is designed for those who have completed our Personal Financial Planning Accelerated Program, or any CFP® registered program, and are planning to sit for the CFP® Exam. This intensive course, offered over six meetings, covers all 89 topics tested on the exam. Students who have taken UC Irvine Extension’s Personal Financial Planning or PFP Accelerated program are eligible for a discount on the CFP® Live Review course fee.

Anyone interested in becoming an instructor at UC Irvine Extension should first view our website at:
Click here to read the guide.

Click here for more information.

For Personal Financial Planning Program or the CFP® Live Review Course: Francine Berg , (949) 824-4661
For FPA Residency Program: extension.uci.edu/fpa
For Recruitment: Kathy Amoroso



A New Beginning After Divorce

A New Beginning After Divorce
by Bonnie A. Sewell, CFP®, AIF®

Bonnie A. Sewell (formerly Hughes), CFP®, AIF®, is a principal with American Capital Planning. She holds a bachelor’s degree in family economics and management and a maste’s degree in financial planning.

For lots of us, autumn is just as refreshing a time to renew as spring. I’ve had what seems like an inordinate number of clients going through big transitions this year. Two of the most challenging include the death of a spouse or divorce. There are similarities in practice with both transitions—and important differences.

Click Here to Read More



Name Joined Company City
Linda Humphrey September Yosemite Capital Management Tustin
Katherine Jeffrey September Morgan Stanley Smith Barney Tustin


Name Years Company  
R. Barry Walson 40    
Pierre N. Ngo 20 Advanced Financial Strategies  
James A. Phillips 20 Phillips Financial Services  
James R. Graham 10 Greenberg/Graham Advisors, LLC  
Mark Phillips 10 Mark Phillips and Associates  


FPA Orange County One Thing Leads to Another... Get involved and make a difference! If we all just did ONE THING, imagine the impact we can have on our Chapter and on shaping our profession! 

Why do you serve?

"To keep busy; Hone and develop new skills; Promote the name of my company." - Steve Okamura, CFP®

Click here to view all quotes ...

Encourage a CPA or estate planning attorney to attend the Allied Professional Summit with you on October 19th at the Pacific Club. You may have a chance to win an Apple iPad 2 if you refer a friend and attend together; more details.

Help decide on the content of our newsletters. Contact Kevin Henss, Director of Communications on how to get involved. Contact Kevin Henss at [email protected]


FPA Orange County Read through the Capitol Update newsletter for the latest summary of tax, securities, pension, insurance and professional issues of importance to financial planners.

  • Congressional Panel to Hold Hearing on Fiduciary Duty and IA Oversight
  • Draft Legislation Calls for SRO Oversight of Advisers
  • Appeals Court Rejects SEC Rule on Proxy Access
  • President’s Job Creation Plan
  • Super Committee
  • Congress Ends Patenting of Tax Strategies



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Joseph K. Nelson
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