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FPA Orange County



November/December 2012


Fellow FPA members:

Having held on through a tight presidential election, we are all facing many questions regarding the direction of our country and economy from clients, employees, family members and friends. The FPA is here to help! Whether it is through our excellent education programs, published materials (i.e. Journal of Financial Planning), on-line resources (i.e. FPA Connect) or simply opportunities to connect with fellow planners at the many events hosted by our chapter, the FPA strives to arm you with important tools to help you get through times of uncertainty and beyond.

It has been a very busy quarter for your Chapter's Board. First, I am pleased to report that our Chapter was recognized with TWO Outstanding Achievement Awards by FPA National! Congratulations to Carolanne Chavanne and the Advisors in Transition Committee and Rick Kagawa and the Education Committee for this incredible achievement. These awards truly exemplify that our Chapter continues to be amongst the strongest in the country. Well done!

We also elected our 2013 Board Members during our October Board Meeting. In this issue, you will find the names of our newest Board members. Congratulations to our incoming Board Members! Also, thank you to David MacLeod, Wesley Gunter, Steve Kiernan, Ralph Adamo, Paul Kirz and Ken Yee, who will be rotating off the Board on December 31st. Their contributions were an important part of our Chapter’s success this year.

A special THANK YOU goes out to our Chairperson, Carolanne Chavanne, who will be rotating off of the Board this year. Carolanne has been a tireless volunteer for our chapter as both a Board and Committee Member. From Partners to Pro Bono and then leading our Chapter last year, Carolanne has been a true advocate for our Chapter and profession. Thank you, Carolanne, for all of your hard work. You have made our Chapter a better organization!

On October 6th, we held our 3rd annual Financial Planning Day at the Huntington Beach Library. It was an exciting day with many educational sessions and one-on-one counseling opportunities for those in need of help. Thank you to Heena Shah and the entire Pro Bono Committee for all of their efforts. On October 10th, we held our 4th annual Allied Professions Summit at UCI's Student Center. With nearly 130 attendees, it was a great day of fun, networking and learning. Congratulations to Howard Erman and the Allied Professionals Committee for a great job planning the Summit!

As this will be my final President’s message, I want to thank the Board, Past Presidents, Committee Members and volunteers for all of your efforts and support this year. We have an incredible chapter mainly because of your hard work and dedication. I have learned so much during my term. And, I sincerely appreciate the opportunity and privilege to serve as President. It has been an honor.

We have a great line-up planned for our November Quarterly Education Meeting. Please RSVP early to secure your spot!

Best regards,

Michael J. Shockley


Quarterly Education Meeting

Our next meeting will be on November, 28, 2012, from 8:30 am to 4:30 pm, at UCI Student Center.

Scheduled Speakers:
  • Joel Dickson, Ph.D., Principal and head of Vanguard Active Quantitative Equity Department speaking on
    Tax Policy and the Fiscal Cliff: Implications for Clients' Portfolios

  • Dr. Marlena Lee, Dimensional Fund Advisors, on
    Evaluating Spending Needs in Retirement – A Breakdown of Income Replacement Rates

  • Dr. Brad Klontz, Psy.D., CFP®, discussing
    Why Clients Resist Advice and How to Break Through

  • Nick Venditti, Associate Portfolio Manager, Thornburg Investment Management, sharing
    a Municipal Market Overview

  • Eric Leake, Founding Partner and Chief Investment Officer of Anchor Capital Management giving insight to
    The Case for Alternative Investments
Five CFP CE credits are available for this meeting.

For more information please visit : http://www.fpaocc.org/chapter-events.htm.

Media Boot Camp
Our November Quarterly Education meeting will feature an FPA member-only session of Media Training Boot Camp at lunchtime that will include an educational workshop to help you become a better media spokesperson and public speaker. Members who complete this course will be added to the on-call list for local public relations opportunities. (This course needs to be repeated approximately every 4 years to stay current.)

October 6, 2012, Declared “Orange County Financial Planning Day”
Orange County Financial Planning Day took place on October 6th at the Huntington Beach Library. The FPA teamed up with the City of Huntington Beach, the CFP Board, the Foundation for Financial Planning, and the Unites States Conference of Mayors for the event. Our volunteers helped over 80 individuals through seminars and one-on-one meetings on topics ranging from taxes to retirement to small businesses and more. The Mayor of Huntington Beach, Don Hansen, brought the FPA a beautiful plaque and proclaimed October 6, 2012, officially to be Orange County Financial Planning Day.

Orange County Financial Planning Day

Allied Professional Summit 2012 - A Success
Our annual Allied Professionals Summit was held on October 10th at the UC Irvine Student Center Ballroom. The Financial Planning Association of Orange County partnered with the UC Irvine Center for Investment and Wealth Management for a great day of networking and learning with other professionals from finance-related industries such as attorneys, investment professionals, bank executives, and trust professionals. Leo Grohowski, Chief Investment Officer of BNY Mellon Wealth Management, gave the keynote address.  Andrew Policano, Dean of The Paul Merage School of Business at UCI moderated a panel discussion of a complex case study. The panelists included Mark Prendergast, Director of Tax Strategies at Inspired Financial; Matt Brown, partner with Brown & Streza; and Peter Degregori, managing partner and founder of Vertical Advisors. Many thanks to our wonderful sponsors:   MFS, ACE Private Risk Services, Willis, Alger Funds,  Realty Capital Securities, Brown & Streza, Profunds, Payden & Rygel Investment Management, Hall and Co CPAs, and BNY Mellon.

Thank You All Volunteers
Our many FPAOC volunteers were invited to bowl the night away at Lucky Strike Lanes in Orange. The event brought out just a little competition between friends! Fun, food and prizes were enjoyed by all. Thank you to our Silver Parnter, Artio Global Investors, who sponsored the evening! Lucky Strike Bowling Photo

2013 Board of DIrectors Announced
The Financial Planning Association of Orange County greatly thanks our 2012 Board of Directors for all their hard work this year.  We are also pleased to announce our 2013 Board of Directors:

Executive Committee:  
Michael Shockley, J.D., MBA, CFP® Chairman
William Cuthbertson, MBA, EA, CFP® President
Howard Erman, CFP® President Elect
Michael Weber           Secretary
Julie Holmes-Grady, MBA, CPA, CFP® Treasurer
Andi Kang, CFP® Public Relations
Bonnie Stramer, EA, MBA, CFP® Communication
Balaji Rao, MBA                Membership
Andrew Scammon Volunteer Development
Robert Antonio, CFP® Allied Professionals
Scot Shier, CFP®, CFEd Partners
Rick Kagawa, CFP®, CLU, ChFC    Education
Heena Shah, CFP®           Pro Bono / Community Outreach
Samantha Vient, CFP® Government Relations


Consumer Advocate Opposes Bachus Bill

Summary of Expired and About to Expire Tax Provisions
Courtesy of Windes & McClaughry Accountancy Corporation

Courtesy of Windes & McClaughry Accountancy Corporation [Insert PDF attachment called: Oct Tax Alert 2012.pdf and make a snapshot of the first page to insert as a graphic]

There are many tax provisions that are either expired or going to expire soon. As of today, Congress has not taken any actions on these tax provisions. Most likely, nothing will happen until late this year. It looks like the Congress is buying itself time to formulate a comprehensive tax reform plan by deferring the sunsets for another year, possibly with some minor changes, patching the alternative minimum tax (AMT) again for another year, and extending some expired or expiring tax incentives.

Post-2012 Changes:

Unless Congress does something, the tax provisions under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), other than those made permanent or extended by subsequent legislation, sunset and will not apply to tax or limitation years beginning after 2012. The Internal Revenue Code of 1986 will be applied and administered to tax or limitation years beginning after 2012, and to estates of decedents dying, gifts made, or generation-skipping transfers, after 2012 as if the provisions of, and amendments made by, EGTRRA had never been enacted.

If the EGTRRA sunsets go into effect, there are three fundamental changes that will occur:

(1) The 10% bracket disappears (the lowest bracket is 15%).

(2) The size of the 15% tax bracket for joint filers & qualified surviving spouses is 167% (rather than 200%) of the 15% tax bracket for individual filers.

(3) The top four brackets rise from 25%, 28%, 33% and 35% to 28%, 31%, 36% and 39.6%.

Taxation of capital gains and qualified dividends
Long-term capital gain is taxed at a maximum rate of 20% (18% for assets held more than five years). For lower-income taxpayers, the maximum rate will be 10% (8% for assets held for more than five years). Dividends paid to individuals are taxed at the same rates that apply to ordinary income.

 Click Here to Read More


11/6/2012 3:30-5:00 pm Study Group
11/14/2012 5:30-7:30 pm Advisors in Transition Study Group
11/14/2012 5:30-7:30 pm Allied Professionals Mixer
11/28/2012 All Day Quarterly Education Meeting
12/3/2012 5:00-7:00 pm NexGen Holiday Happy Hour
12/13/2012 6:30 pm Volunteer Appreciation Dinner

Mark Your Calendar our 2013 Educational Meetings at the UCI:

  • February 20, 2013
  • May 15, 2013
  • August 28, 2013
  • November 20, 2013

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FPA Orange County

Promote your FPA membership by using the FPA Member Logo. Displaying the FPA Member Logo communicates your dedication to FPA's Code of Ethics and Standard of Care.

Current FPA members who are in good standing can log in to request and download the 2012 FPA Member Logo (Requires Member Login).


FPA Orange County


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.




Name Joined Company City
Roderick Hendry July Morgan Stanley Smith Barney La Quinta
Susan Niedwick August Iwamoto Kong Wealth Irvine
William Barham August Security One Lending Laguna Niguel
Tracy Fozdar August Signature Resources Irvine
Geoffrey Kaltenbach August Signature Resources Irvine
Jacqueline Zweig August Jacqueline S Zweig, Inc Newport Beach
Francis Lai August   Irvine
Mike Acevedo September United Valley / Sammons Securities Corona
Aaron McLaughline September Seamount Financial Group, Inc Corona Del Mar
Natalie Masse October   Huntington Beach


Name Years Company  
Guy Baker 30 BMI Consulting  
David MacLeod 5 Eclectic Associates, Inc.
Heena Shah 5 Lighthouse Financial Services, Inc  


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! 

Current Opportunities.
  • Greet our Partners as they arrive and set up for our Quarterly Education Meetings
  • Help us launch an FPAOC presence on Facebook and Twitter
  • Be a speaker liaison for a Quarterly Education Meeting
  • Provide space for a FPAOC study group to meet once a month
  • Help check in attendees at a Quarterly Education Meeting
  • Share about the FPAOC with local press on the PR Committee
If you are interested in helping out with one of the above, or getting involved other areas of our chapter, please contact Andrew Scammon, Volunteer Development, 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.
  • Fiduciary Standard for Brokers Remains Stalled
  • MSRB Looks to Improve Access to Munis for Retail Investors
  • Exaggerated Reports of the Death of Money Market Fund Reform
  • FINRA Will More Deeply Scrutinize Costs and Benefits of Proposed Rules
  • SEC Commissioner Gallagher Calls for Fresh Look at Self-Regulation
  • Romney Proposes Cap on Deductions, Exemptions, and Health Care Exclusion
  • Gang of Eight Plans Private Retreat
  • Dodd-Frank Discussion at First Presidential Debate
Click Here to Read More



The Barrier Breaker Workshop
November 9th at the Newport Beach Marriott Hotel & Spa
2 CE Credits

This one-day, high-energy, high-impact workshop led by an all-star list of keynote speakers is designed for financial advisors who are ready to break through barriers and take their business and life to a higher level of success. This is a results-oriented program that inspires advisors to think bigger, work smarter, and equips them with a plan to make their big dreams a reality.

For more information click here. .

FPA Members: Enter the code, PAAFPA, on the registration site and it will waive the $99 registration fee!




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



American Funds


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



Sierra Investments

iShares Logo


Edward Jones





Black Rock

TD Ameritrade Institutional

Principal Funds






Alliance Bernstein


FPA Orange County