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FPA Orange County



May/June 2012


Our board recently met for our Mid-Year Strategic Planning Meeting.  The institution of this meeting three years ago gives our board the chance to review long-term strategic initiatives, discuss new ideas and allows the President-Elect an opportunity to run a meeting involving the entire board.  During the meeting, our President-Elect, Bill Cuthbertson, did a great job challenging the board to examine why our chapter exists and where are we going.  We discussed our passion for financial planning, our commitment to advancing the profession and dedication to our clients.

One question that came up during our meeting was why do you (our members) think our chapter exists?  Considering that FPA National describes our organization’s Primary Aim as “the community that fosters the value of financial planning, and advances the practice and profession of financial planning,” what does our chapter mean to you?  Is it simply a place to come an earn continuing education credits?  Do you learn new practice ideas?  Is it a place to network or see friends?  Whatever your reason, our board and volunteers are working hard to make your experience with the FPA Orange County rewarding.

We have had a busy couple of months.  In May, we had 275 registrants for our Quarterly Education Meeting - our largest meeting ever!  We also had roundtable discussions at lunch where attendees had their chance to provide feedback and suggest ideas for the various activities in which our chapter is engaged.  It was a great meeting.  Thank you to all who attended.  Our next meeting is August 29th.  Please make sure you register early to reserve your spot.

We also had our first Allied Professional Mixer at JT Schmid’s in Tustin at the District.  This event is designed to bring planners together with those professionals that help in the service of our clients (e.g., attorney’s, accountants, bankers, etc.).  It was a fun evening of networking, great food and tasty beverages.  Please make sure to join us for the next mixer on Wednesday, July 25th.  More details will be forthcoming.  Also, do not forget to register for the Allied professional Summit that will be held at UCI on October 10th.

For those of you with philanthropic inclinations, please join us for Financial Planning Day.  The event will be held on October 6th at the Huntington Beach Library.  There are opportunities available to lecture or do one-on-one planning for those in need.  This is a great opportunity to give back.  We also have our monthly study groups as well as the Advisors in Transition/Nex Gen Happy Hour on August 2nd.  For details on these events and all of our chapter events, please visit http://www.fpaocc.org/chapter-events.htm.
Help us reach 500 members.  Our chapter currently stands at 483 members.  It has been nearly three years since we were over 500 members.  FPA National has created the Refer a Colleague campaign (http://www.fpanet.org/professionals/Membership/ReferaColleague/) offering incentives for bringing new members to the FPA.  Please reach out to advisors who you think can benefit from our chapter and invite them to a meeting.  Together we can - Grow the community - Grow the profession - Grow the FPA.

Finally, please check out the Do 1 Thing section of this newsletter.  We need your help!  Any assistance you can provide would be greatly appreciated.  And, you will meet some pretty incredible people along the way!   Please feel free to reach out to me with any questions, suggestions or comments.

Best regards,

Michael J. Shockley


 Quarterly Education Meeting
We had a very successful meeting on May 23, 2012. There were 275 members signed up for our meeting. Our next meeting will be on August 29, 2012. We have a very exciting line-up of speakers:
  • Carl Richards, CFP® - Sketch artist, radio contributor, and author of The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money.
  • Brad Klontz Psy.D, CFP® - Financial Psychologist, Associate Research Professor in Personal Financial Planning, and coauthor of four books on the psychology of money: The Financial Wisdom of Ebenezer Scrooge; Facilitating Financial Health; Wired for Wealth; and Mind Over Money.
  • Shari Freidenrich, CPA, CCMT, CPFA, CPFIM - Orange County’s Treasurer-Tax Collector.
  • Matt Brown - Partner with the law firm of Brown & Streza LLP and focused on complex income tax and estate tax issues that arise in the areas of business planning and charitable planning.
  • James Shambo CPA, PFS - President of Lifetime Planning Concepts, Inc. a financial planning and investment advisory firm and discussing “Rummaging the Retirement Ragbag.”

Allied Professional Summit 2012
UC Irvine – The Paul Merage School of Business/Center for Investment and Wealth Management and the FPA of Orange County would like to cordially invite you to join us on October 10th, 2012, for an opportunity to network and learn while enjoying a delicious lunch. For more information please visit http://www.fpaocc.org/AlliedProfessionalsSummit/2012.

Members in the News
Two of our OC chapter members were among the five women honored at the annual OC Business Journal’s Women in Business Awards event.

Laila Pence
, president of Newport Beach-based Pence Wealth Management. Pence and her husband oversee a 19-person firm with more than $800 million in client assets.

Lee Ann Canaday
, owner of Laguna Beach-based Canaday Group RE. Canaday has sold well over $1 billion in OC luxury real estate. Canaday has led her team to place among the top 20 real estate producers in the U.S.

In-depth profiles of the five winners will be included in the June 18 issue of the Business Journal.

Get Involved - - Why?
This year, FPAOCC committee and board members have been talking about our “Why” statement. Our “Why” came about when Mike Shockley, Chapter President, challenged the board members to put into words why they volunteer their time with the FPA. The board as a whole decided that the answer to the question “Why volunteer for the FPA?” is “To invest in your future development.

Our “Why” discussions also include reasons individual board and committee members choose to serve, and how they use their “Why” to encourage others. Each quarter, the board members vote on which committee has best attempted to implement our “Why” – and the competition is heating up!

As a prize for presenting the best “Why” at the April board meeting, Howard Erman’s Allied Professionals Committee and their guests recently gathered to relax poolside and enjoy a special evening of wine and food pairings. President Mike Shockley hosted the evening’s festivities at his home and cooked an amazing four-course meal. Mike and former president, Evelyn Zohlen, led the guests through wine tastings paired specifically for each course. The evening was a great success!

And the next “Why” contest is even bigger! The winning committee and their guests will receive a personal tour of the Queen Mary in Long Beach which will end with cocktails and hors d'oeuvres in the Queen Mary’s Observation Bar. If you have been thinking of volunteering for an FPA committee, don’t wait! Now is your time to figure out your “Why”!


Consumer Advocate Opposes Bachus Bill

Consumer Advocate Opposes Bachus Bill, But Still Supports an SRO
by Ann Marsh June 5, 2012

A leading consumer advocate broke ranks earlier this year with the CFP Coalition by supporting an organization such as FINRA to regulate financial advisors. But just before a debate in Congress on the matter, she announced her opposition to a bill that would create such an SRO.  

The change of heart by Barbara Roper, director of investor protection at the Consumer Federation of America and a longtime ally of the FPA, CFP Board and NAPFA on the issue, stunned many on both sides of the debate. After two decades advocating for increased oversight to no avail, Roper said she had decided that some increased oversight via an SRO would be better than nothing.

“Unfortunately,” writes Roper, the proposed legislation “does not meet the standard of an appropriately designed SRO. Its central problem is the numerous exemptions it provides for various groups of investment advisers.”

Roper announced her revised position in a letter addressed to one of the bill’s cosponsors, House Financial Services Committee Chairman Spencer Bachus (R-Ala.) and ranking committee member, Barney Frank (D-Mass.). The bill is co-sponsored by Carolyn McCarthy (D-N.Y.).

Click Here to Read More


07/03/2012 3:30-5:00 pm Study Group
08/02/2012 5:00 - 7:00 pm Advisors in Transition and NexGen Networking event (location TBD)
08/07/2012 3:30-5:00 pm Study Group
08//29/2012 All Day Quarterly Education Meeting
09/04/2012 3:30-5:00 pm Study Group
09/29-10/02/2012 All Day FPA Experience 2012
10/06/2012 10:00 am-4:00 pm OC Financial Planning Day 2012
10/10/2012 10:30 am - 2:30 pm Allied Professionals Summit
11/28/2012 All Day Quarterly Education Meeting

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UC Irvine

UC Irvine Extension offers the Personal Financial Planning Accelerated Program, an intensive five-part program covering the body of knowledge for Certified Financial Planners™. Successful completion of the Accelerated Program fulfills the educational requirements to sit for the CFP® Certification Exam. This problem-solving, client-centric program provides a strong, comprehensive approach to the principles of financial planning. A hands-on approach including case studies allows students to demonstrate real-world application of the materials.

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

5 Reasons Clients Don’t Refer and What You Can Do About It
by Dan Alison

It is no secret that referrals are the preferred method for growing a business. Other ways of reaching prospective clients such as cold calls, networking and direct mail can be frustrating, unpredictable, time-consuming and expensive pursuits. And yet most advisers find that referrals do not occur as frequently as they would like.

Many advisers believe they have two options when it comes to referrals. They can be proactive about introducing the topic with their clients, or they can sit back and wait for referrals to fall from the sky. Some advisers resist being proactive because asking for referrals makes them uncomfortable. And avoiding the topic rarely results in referrals. So how do you find a middle ground, bringing up this difficult topic in conversations with your most important clients without compromising relationships?

Over the years, I have conducted, structured or implemented countless focus groups and interview sessions with advisers' clients. Although the nature of these feedback sessions has varied, the consistent area of focus has been referrals. From these sessions, five consistent themes have emerged that I have concluded are the critical components of any adviser-client relationship. If these five components are in place, referrals will occur frequently without the need for high-pressure techniques. If any of the five are missing, referrals will trickle in at best.

Begin by making a list of your top 20 client or colleague relationships. These should be your best clients, your best professional relationships or simply the circles of influence you approach for referrals. Look at each name on that list, and ask yourself if the following five components are in place with that person. You will quickly identify the voids in your relationships and realize that making potential referral sources more effective at advocating may simply require you to clarify a few basic points about what you can do, who your ideal clients are and how to introduce you to people who would benefit from your services.

They Don't Value Your Services

Does this client or colleague value your products and services enough that he or she would recommend you to someone important in his or her life?

Click Here to Read More



Name Joined Company City
Patrick Bracamonte April   Huntington Beach
Sharon Buck April   Laguna Hills
Linda Chen April   Irvine
Chris Cooper April   Aliso Viejo
Ed Lewandowsky April   Irvine
Melissa Lizotte May   Irvine
Reed Lloyd April Pacific Life Insurance Co. Newport Beach
Phil Matheson May Centennial Costa Mesa
Neal Rutter May Clarity Wealth Management, Inc Irvine
Robert Seaman May Towneley Capital Management, Inc. Laguna Hills
Michael Silverberg May Silverberg & Cook, Inc Orange
Gerard Tamparong April Payden & Rygel Los Angeles
Patrick Thompson April   Laguna Niguel


Name Years Company  
Jeffrey Koch 30    
Matthew Merwin 30
Paul Bednarski 15 Southern California Fiduciary Services  
R. Matthew Beary 10 Axis Advisors, Inc.
D. Paul D'Amore 10  
Errol Mathieu 10
Dennis Priest 10  
Carol Somoano 10 Asset Planning Inc.
Bruce Emken 5    
Russell Hall 5    
Thinh Nguyen 5  
James Warren 5


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! 

OC Financial Planning Day. If you are interested in volunteering for the following tasks, contact Carol Bobke, Chapter Administrator at [email protected].
  • Print directional arrow signs for the event.
  • Design and print name badges for the event.
  • Place directional arrow signs at the event.
  • Order blue and white balloons and bring them to the event.
Government Relations. Contact Samantha Vient at [email protected]

  • Introduce the Government Relations Committee to any elected officials you might know.
  • Log in to the FPA Grassroots site / Legislative Action Center and check out the Current Issues where we need your support.
  • Write your representatives on these important issues that affect our profession and businesses. Letter templates are already provided!!! It only takes 1 minute.
Quarterly Eduction Meetings. If you are interested in volunteering for the following tasks,contact Carol Bobke, Chapter Administrator at [email protected].
  • Utilize your high-speed scanner to scan the continuing education sheets from a Quarterly Meeting.
  • Create name badges for the Quarterly Meeting and put them in name badge holders.
  • Input continuing education sheets using a chapter-owned barcode scanner.
  • Contact current FPA Partners for August meeting to find out who will be attending. Greet those partners when they arrive at the meeting.
  • Contact current Silver Sponsors to coordinate their 5-minute presentations at our August meeting.
  • Be the “chimer” at our August Quarterly Education Meeting.
  • Identify one elected official you would like to invite to speak at a Quarterly Education Meeting.
  • Greet and sit with a speaker at one of our upcoming meetings.
  • Coordinate the raffle for an upcoming Quarterly Education Meeting.
  • Greet a visitor at our quarterly meeting and ask what brought them to our chapter meeting.
  • Invite a colleague to our quarterly education meeting.

Public Relations. Contact Ralph Adamo, DIrector of Public Relations at [email protected]

  • Tweet for the FPA! Help publicize our events and happenings through Twitter.

FPA Allied Professionals Summit -- Contact Howard Erman, Director of Allied Professionals at [email protected]

  • Create name badges for the Summit.
  • Emcee a table at the Summit.
  • Invite your associated professionals to the Allied Professional Mixers and Allied Professionals Summit.
  • Sign on to the Allied Professionals LinkedIn page today.

Help Create Chapter Newsletter and research "Must Read" articles for our Newsletter-- If you are interested in volunteering for the following tasks, contact Kenneth Yee, Director of Communications at [email protected]

Other Opportunities. Contact Carol Bobke, Chapter Administrator at [email protected]

  • Provide a location for a monthly study group.
  • Utilize your high-speed scanner to scan archived FPA OC documents.
  • Reach out to current sponsors to try to find one who would like to join our volunteer appreciation event.
  • Occasionally proofread communication pieces before they are sent to our members.


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.

  • Financial Planning Coalition Files Statement in Opposition to the
    Investment Adviser Oversight Act of 2012
  • House Financial Services Committee Holds Hearing on the
    Investment Adviser Oversight Act of 2012
  • SEC and CFTC Budgets
  • Fitch Warns of U.S. Downgrade
  • House Plans Summer Tax Vote
  • Millions of Employers Fail to Claim Healthcare Tax Credit
  • CA Senate Passes Bill to Create Pension for Private Workers
  • PA Considers Ending Tax Parity for Out-of-State 529 Plans
Click Here to Read More




Brown Streza LLP Attorneys at Law
Payden Mutual Funds
Thornburg Investment Management
Trust Company of America



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Pioneer Investments

Fidelity Investments



Pacific Life

MetLife of Southern California



MetLife Reverse Mortgage

Wasatch Funds


Wells Fargo Home Mortgage




Artio Global Investors

Cole Real Estate Investments


Millenium Trust Company


Security Benefit

Dishon & Block Attorneys At Law



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Black Rock

TD Ameritrade Institutional

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FPA Orange County