Financial Advisor Designations: Spotlight On Estate Planning Specialist

By Cory Bowman

There are a variety of financial advisor designations out there to choose from when deciding on a program or certificate that will enhance your business practice or simply grow your personal knowledge. One financial advisor designation that can be very useful is the designation of estate planning specialist. An estate planning specialist, (someone who is Board Certified in Estate PlanningTM) understands the basics of estate planning and is well-versed in real-world examples.

For example, an estate planning specialist should be familiar with different types of shares as well as current financial news that relates to mutual funds – A, B, and C shares are the most common types of shares. In general, A or C shares result in higher returns if less than $100,000 is invested. Class A shares are the favored choice if $100,000 or more is invested. In most instances, B shares are the second best choice if less than $100,000 is invested.

During 2006, the NASD imposed more than $40 million of fines on brokerage firms for improperly selling B and C mutual fund shares. During the early part of 2007, the SEC acknowledged that one of its key arguments no longer exists; the agency had assumed A shares were always better than B shares. The NASD commission now believes that cost alone is not the only decision in making investment recommendations.

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Most of the lawsuits against brokerage firms were based on one of three things: (1) failure to tell clients that A shares can be cheaper than B shares, (2) fraud, and/or (3) suitability. In a 2007 case dropped by the SEC, the agency acknowledged that even at the $250,000 breakpoint, B shares may not be more expensive for the client than A shares. One broker, now retired, spent $400,000 in legal fees and lost $1.6 million in deferred compensation in 2001 when his broker-dealer fired him over the sale of B shares. In late 2005, a NYSE arbitration panel ordered the firm to pay the terminated broker all deferred compensation plus legal fees.

Financial Advisor Designations: Reviewing Performance

As a financial advisor, including specialists in estate planning, one must be able to look at different investment options, review performance of the options, and make investment suggestions to help clients reach their goals. Over the last few years a number of different asset categories have performed quite well and investors do have a choice, depending upon their objectives, time horizon, tax bracket, level of risk and ability to make a lump-sum or periodic payments. Some investment vehicles that an investor may have to choose from are: (1) individual securities, (2) exchange-traded funds (ETFs), (3) exchange-traded notes (ETNs), (4) enhanced appreciation notes (EANs), (5) closed-end funds (CEFs), (6) real estate investment trusts (REITs), (7) unit investment trusts (UITs), (8) annuities and/or (9) open-end mutual funds.

Courses for financial advisor designations should provide insight into how multiple investment vehicles can be used to construct a unique and effective series of diversified portfolios. Financial advisors should help their clients understand the workings of mutual funds – once the clients understand how mutual funds work, it is doubtful they will want to use anything else for the bulk of their portfolio. Mutual funds are truly one of the best investment vehicles ever created. The types of assets open-end mutual funds invest in provide the flexibility, returns and risk level that clients are generally looking for.

About the Author: Cory Bowman is Director of Ops at the Institute of Business Finance. IBF has helped thousands of members of the financial services industry attain designations. For more information about IBF, financial advisor designations, or becoming an estate planning specialist, visit http://www.icfs.com

Source: isnare.com

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US Justice Department sues American Airlines on behalf of reservists

Sunday, January 15, 2006

The US government has filed a lawsuit against American Airlines on behalf of three pilots. The pilots were employed by the company while serving in the Naval Reserve and Air National Guard.

The US Department of Justice alleges that when the pilots were called into active duty by the US military, American Airlines denied them employment benefits. The Department of Justice said in a complaint filed in the US District Court in Dallas that American Airlines conducted an audit of leave taken for military service by pilots in 2001. The Justice Department charges that based on that audit American Airlines then cut the employment benefits of pilots who had taken military leave while not cuting benefits of pilots who had taken non-military leave.

Justice Department Assistant Attorney General Wan Kim said “This nation depends on our reservists to faithfully carry out their duty. No reservists, indeed no members of the armed forces, should ever be punished or discriminated against for answering the call of duty.”

This is the first class action lawsuit under the 1994 Uniformed Services Employment and Reemployment Rights Act.

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Historic gym the site of Benet Academy, Illinois victory over Oswego

Monday, January 18, 2010

Benet Academy Redwings 40 34 Oswego Panthers

The Benet Academy Redwings boys basketball team defeated the Oswego High School Panthers 40–34 Saturday night at Benet’s historic Alumni Gym. 

Located at Lisle, Illinois, United States, the gymnasium is home to Benet’s winning streak of 102 consecutive home games. The statewide record lasted from November 26, 1975 until January 24, 1987, when Naperville North High School defeated the Redwings 47–46. Benet also achieved 96 consecutive victories in the Western Suburban Catholic Conference at that time. 

The school continued to use the facility, colloquially referred to as the “Old Gym” or the “Small Gym”, until the end of the 1994 season, when a newer athletic center was built on campus. It wasn’t until the late 1990’s when then-coach Marty Gaughan decided to play one game per year in the Alumni Gym to remind the school of its history. “There is just an electricity, and you feel it when you are in there,” said Gaughan, who coached the team from the 1989–1990 season to the 2007–2008 season. 

This tradition continued until the 2006–2007 season, when the Redwings played against long-time rival St. Francis High School. Renovations prevented the gym from being used for athletic events over the past two seasons. This game was Benet coach Gene Heidkamp’s first opportunity to coach in the older gym. “So much history and winning has taken place there, which makes it so special. It is something the entire school community is excited about,” said Heidkamp. 

Saturday’s game was played at the Alumni Gym at the request of Oswego assistant coach Jim Bagley. He wanted his son, senior forward Chris Bagley, to experience the same atmosphere he had as he played for Benet in the 1978–1979 season. Greg Kwiatkowski was also Jim Bagley’s teammate in Benet, and his son, Joe Kwiatkowski, was in the Panthers’ starting lineup as well. “Two of us who played at Benet together and now our son’s play on [Oswego] together and for them to have a chance to play where we played is going to be a great night and great experience,” said the senior Bagley. 

Alumni Gym apparently still had its charm in the second half for the Redwings, whose 15–17 score at halftime worsened into an 11-point deficit in the third quarter. Benet fell behind with a score of 21–29 at the start of the fourth quarter. From that point, the Redwings’ defense began to kick in. Oswego could make only 2 of its 13 field goals in the third quarter. Benet’s offense also gained momentum as center Frank Kaminsky scored all of his 9 points in the fourth quarter. A shot by senior Mike Runger brought the score to 31–31, and two consecutive driving layups by David Sobolewski gave Benet the lead that would last for the rest of the game. 

“We hit a dry spell there, but let’s give credit where credit is due. Defense wins games and they are the best defensive team we’ve faced all year,” said Oswego coach Kevin Schnable.

Benet’s Matt Parisi led his team with 15 points, and Sobolewski scored 12. Oswego’s Andrew Ziemnik also scored 12. 

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Home Loan Rate Tips On Finding The Best Rate

The home loan rate applied to your home mortgage is the cost of the money that you have borrowed. The money itself is called the principal, while the price you pay to borrow the money is considered the interest. In addition, you can expect to pay at least a few of the closing costs on your home loan. Usually, it is the seller who pays closing costs, but that is traditional, rather than a requirement. Each and every factor that is associated with the acquisition of the loan itself should be explored. A few dollars for a loan cost item, or a half percentage point on the loan rate can add up to thousands of dollars.

Know your broker

Choosing a loan broker that you trust or have done business with in the past can help you to find the best home loan rate on a mortgage. If you have not worked with a broker previously, do the due diligence required to get to know his or her reputation. Check the Better Business Bureau for complaints. Ask friends, family and neighbors who they used when they obtained a mortgage loan on their property. Ask why they selected the broker–it may be their brother-in-law. Your real estate buyer’s agent may be able to help you with the names of brokers they have dealt with in the past.

Clean up your credit file

Another way to improve your home loan rate is to clean up any inaccuracies that may have accrued on your credit file. There are three major credit reporting agencies that many lenders use to access information about how you have managed your financial obligations in the past. If you obtain a copy of these credit reports for yourself–which can be done each year at no cost–and remove any inaccurate or misleading information, you are much more likely to have a lower interest rate on your home loan.

Closing costs

Closing costs are those which typically are paid during the completion, explanation and signing of the loan documents. While they do not usually have a direct bearing on the home loan rate, they may require you to come up with cash in order to complete the loan. Many of the closing costs can be rolled into the cost of the mortgage, but this action means that you will be paying more interest dollars out during the course of the mortgage term.

Interest and term

The interest rate and the term are the two most critical factors when it comes to determining the home loan rate. The interest rate may be fixed or adjustable. The loan type may be an option adjustable rate mortgage, contain a balloon payment or sometimes an interest only loan. Only your personal financial circumstances will help you determine which is the best rate for you. Take time to review the factors in building the cost of the money for your mortgage and decide which will be the best option for your household.

Interview with Tony Ciufo, City Council candidate for Ward 10 in Mississauga, Canada

Friday, September 22, 2006

The upcoming 2006 Mississauga municipal election, to be held November 13, features an array of candidates looking to represent their wards in city council.

Wikinews contributor Nicholas Moreau has contacted as many candidates as possible, including Tony Ciufo, asking them to answer common questions sent in an email. There is no incumbent in the newly created ward; the sixteen resident competing for the position are Shah Rukh Alam, John Briers, Jamie Dookie, Dale D’Souza, Prag Euclid, Adnan Hashmi, Elias Hazineh, Jack Janiak, Fasal Javaid, Craig Lawrence, Sue M. McFadden, Patrick Mendes, Barbara Polis, Graziano Roti, Ali Tahmourpour, and Scott Wilson.

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Aircraft makes emergency landing at Edinburgh Airport

Monday, July 30, 2007

A Flybe, Bombardier Q400, had to make an emergency landing at Edinburgh Airport in Scotland after it had engine troubles on its scheduled flight from Manchester.

Thirty-six passengers were onboard flight BE7220 when the captain made the Mayday call to air traffic control at approximately 07:40 BST. The captain was forced to shut down one of the plane’s two turboprop engines before finally landing safely at Edinburgh Airport at 07:50 BST.

Upon landing the plane was met by fire engines and other emergency vehicles before taxiing to the terminal building.

Jim Mulhall, a passenger on board the plane said, “When the captain told us they were going to cut an engine everyone went quiet, probably because they were apprehensive.”

Normal operations at the airport have since resumed, while the aircraft is expected to resume commercial flying this afternoon.

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Peter Andren, Australian MP dies aged 61

Sunday, November 4, 2007

Australian federal member of Calare, Peter Andren died on Saturday after a short battle with pancreatic cancer. He was aged 61.

Mr Andren who had held the seat since being elected in 1996 had previously announced his intention to run for the senate after his electorate was changed for the 2007 federal election. After Mr Andren was diagnosed with cancer in July, he announced that he would be retiring from politics at the election.

Mr Andren’s 1996 campaign platform was based upon retaining services in regional Australia, particularly banking, health and telecommunications. Over the next 11 years, Mr Andren’s primary vote grew and at the 2001 and 2004 elections was elected without preferences, achieving a majority primary vote.

In 2001, Mr Andren disagreed with his electorate on refugees. The electorate supported the government’s tough stance but Mr Andren could not support the government’s border protection measures. Following this, a vicious letter-box campaign rose up saying “you might like Peter Andren … but you won’t like what he’s got to say about keeping our borders safe”.

Fellow NSW independent member, Tony Windsor said Mr Andren’s stance on asylum seekers was just one sign of his compassion and strong belief in human rights.

Mr Windsor described Mr Andren as the “conscience” of parliament. “Peter Andren was a true representative of the people of the Calare electorate, a man of the highest integrity and the conscience of the Parliament,” he said.

“He was subjected to vitriol from time to time within the Parliament over issues, but if he believed in something he stuck to it. He didn’t compromise and I think that’s a lasting legacy that Peter will leave.”

Prime Minister John Howard said despite having a difference of opinion with Mr Andren on many issues, he had a lot of respect for him.

“I respected his skills as a local member,” he said.

“Mr Andren and I frequently disagreed on major issues and he made no bones about that and I made no bones about it either but that didn’t stop me respecting him and acknowledging the tremendous work he did for his electorate.”

Labor leader Kevin Rudd described Mr Andren as a true independent.

“Peter Andren will be a great loss to the Australian parliament,” he said.

“He was a man of principle, a man of commitment, a man who was an absolute independent.”

Leader of the Greens, Bob Brown said Mr Andren was an example of how a politician should be.

“He was an exemplar of representative politics for his electorate and the people of Calare kept returning him with a bigger and bigger majority,” he said.

“[If] anybody ever asks me how a politician should be, I am going to say, ‘Look at the record of Peter Andren'”

“He was a great Australian representative and he is a great loss to this country.”

During his political career, Mr Andren fought the sale of Telstra, introduced a bill to allow MPs to opt-out of their generous superannuation schemes, opposed the Iraq war and campaigned on environmental issues.

Mr Andren was born at Gulargambone, near Dubbo in Western NSW in 1946. Before he entered politics Mr Andren worked as a teacher before moving into journalism. Mr Andren worked as a news producer in Sydney for the Seven and Nine networks, before moving back to regional NSW where he worked as the news editor for both Radio 2GZ and Prime Television.

Mr Andren is survived by his partner and two sons.

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Different Fencing Types Offered By A Fence Contractor In Riverside

byAlma Abell

Fences are great for both home and business owners. They can help to keep unwanted solicitors or stragglers off your property and away from valuable items. A fence also helps to keep pets and young children inside a designated area to ensure their safety.

There are many different types of fences available. Where you live could determine what type and color of fence you are allowed to have. However, if that is not an issue, then you have a variety of fencing options to choose from.

Wood fence

– Wood fences are both attractive and can be good for maintaining privacy. They require some upkeep to make sure they do not splinter and crack in the elements. There are several types of wood fences: picket, wood pole, split rail, solid wood and wood panel.

Vinyl fence

– A quality vinyl fence could increase the value of your home. It is also very durable and requires no maintenance. It comes in various styles such as: picket, privacy and ranch rail.

Chain link fence

– This is a good option if you want a fence but still want to observe your surroundings. It is an inexpensive option that still provides great security and needs very little maintenance done to it. It comes in several different options including: galvanized mesh, aluminum mesh, PVC coated and privacy slats.

Iron fence

– They may be decorative to look at, but iron fences are very durable and can last for many decades. They come in several options: ornamental iron, wrought iron, iron privacy, decorative iron. They are available for both residential and commercial uses.

If you are in need of a fence, then the best thing you can do is contact a Fence contractor Riverside. They can help you determine what the best fence is for your needs as well as for your budget.

Before hiring a contractor, you should ask to see a gallery of their work. This will help you to see what kind of finished product you can expect on your property.

You can find a contractor through an Internet search and then Browse Site to find options that are available.

US undergraduate commits suicide after ‘outing’ via webcast

Thursday, September 30, 2010

Tyler Clementi, eighteen, a freshman at Rutgers University in the United States, jumped off the George Washington Bridge last Wednesday after roommates broadcast his same-sex encounters online.

Clementi shared a room with Dhraun Ravi, in Davidson Hall on Rutgers’ Piscataway campus.

On September 19, Dhraun Ravi is alleged to have secretly activated a webcam in their room, then retreated down the hall to the room of his childhood friend, Molly Wei, where they used Skype to connect to the live video feed of Clementi having sex. Ravi tweeted, “Roommate asked for the room till midnight. I went into molly’s room and turned on my Web cam. I saw him making out with a dude. Yay”.

Clementi reported the incident to the university, and that information has been passed to the authorities, according to Gregory Blimling, university vice president for student affairs.

Ravi attempted to repeat his actions on the following Wednesday, after seeing his roommate kissing a teenaged boy. Writing on Facebook he said, “Anyone with iChat, I dare you to video chat me between the hours of 9:30 and 12. Yes, it’s happening again.”

The following Wednesday, at around 4 p.m., fellow freshman Lauren Garcia saw Clementi leaving the dormitory. “He had his iPod in his ear, and just had this blank stare on his face,”, she said. Clementi drove one hour along the New Jersey Turnpike, abandoning his car on the Jersey side. Writing a final message on his own Facebook page saying, “Jumping off the gw bridge sorry”, he left a wallet containing his driver’s licence and Rutgers ID card, and his mobile phone on the roadside. According to witnesses, he scaled the railings, crouched down, and jumped at approximately 8:50 p.m— about eight minutes after his Facebook posting. Those details were relayed to press anonymously by a law enforcement official.

One of the anonymous witnesses, a 45-year-old from West New York, said “It was so quick, as soon as he saw us, he went. He didn’t give us an opportunity to do anything.”

New York Police Department’s Harbour Unit recovered a body of a young man yesterday, in the Hudson River to the North of the bridge, but it has not yet been positively identified.

Ravi and Wei, both eighteen, were charged with invasion of privacy. Wei voluntarily surrendered to police Monday, and was released on her own recognizance; Ravi surrendered the following day, and has been released on $25,000 bail. All three students started their courses in August.

The crime of “transmitting sexual images” is a 3rd degree felony, carrying a maximum prison sentence of five years.

Clementi, from Ridgewood, New Jersey, played the violin, and was a member of the Ridgewood High School chamber orchestra. A student from the same hall described him as quiet and shy. His parents were apparently unaware of his sexuality; Robert Righthand, a friend of Clementi since grade school, said “he had it in reserve for a very long time […] You never thought he was depressed. You just thought he was quiet. He wasn’t the person to open up to a lot of people.”

A gathering of around 100 people held a vigil on Wednesday, chanting slogans such as “We’re here, we’re queer, we’re not going home.”

The Parents, Families and Friends of Lesbians and Gays organization announced a “call to action” today. Stephen Goldstein, of LGBT advocacy organization Garden State Equality, said, “[Clementi,] by all accounts, was brilliant, talented and kind […] we are sickened that anyone in our society, such as the students allegedly responsible […] might consider destroying others’ lives as a sport.”

On Wednesday prior to the incident, the university launched “Project Civility”, a two-year campaign encouraging students to be thougtful of others. The University president, Richard McCormick, issued a letter stating that “If the charges are true, these actions gravely violate the university’s standards of decency and humanity.”

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Chicago Transit Authority announces repairs to Blue and Red Line

Wednesday, July 11, 2007

Chicago Transit Authority (CTA) riders on the subway portions of the Red and Blue lines may see relief of the slow zone in the coming months. So-called “slow zones” are locations where trains travel at restricted speeds because of track work or deteriorating conditions.

The CTA is putting nearly US$15 millions towards renovation of the O’Hare to Clark/Lake portion of the Blue Line and Chicago to Belmont portions of the Red Line. Work will happen during off peak and overnight hours. The CTA says that one track operations and delays may occur.

“We have heard our customers’ frustration with slow zones and today we are acting to address their concerns,” said Chicago Transit Board chairperson Carole Brown. “I am pleased that we are able to leverage existing contracts to begin this work and I look forward to working with state lawmakers to increase transit investment to bring our entire system to a state of good repair.”

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