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President's Message
Gail Brittingham, CLU, ChFC

 Leadership as a Relationship!

The Twelfth Annual Professional’s Dinner held March 16, 2005, once again provided the premier networking opportunity for our members and their guests. Our Platinum Sponsors enjoyed a VIP Reception with our entertainment for the evening, the "Capital Steps". There was also a reception for our members and guests with all of our Platinum, Gold and Silver Sponsors which provided an opportunity to discuss their focus and specialization. The Capital Steps truly provided a humorous look at our political world. It was great to see everyone enjoying themselves and reconnecting with fellow members. Our Chapter looks forward to continuing this tradition and will start planning immediately for another memorable evening in 2006. Thanks again to all our Sponsors and to Jeff Podraza, chair, and his committee for making this event a success.

Thank you to our members for the favorable response to The American College Coordinator, our new position on the board announced in last KeyFacts. Please contact us if you have an interest working on this committee, which will be formed 2005-2006.

The Board’s ongoing objective to give our members the well-rounded knowledge and skills needed to grow and manage their business and client relationships brings some interesting programs in the next couple of months. April is a busy month for your Chapter with two Continuing Education programs; Financial Planning for Corporate Executives provides two Pennsylvania CE Credits on April 7, and April 28 brings The Ethics Forum – Focus on Compensation for Attorneys and Insurance Professionals: Some Lines Are Not Meant to be Crossed, which provides two insurance, legal and accounting credits in ethics.

In addition, more CE credits are coming in May.  On May 19, our DVD program--Park Avenue Meets Main Street: Family Office Techniques for the Millionaire Next Door--provides three CE Credits. The DVD Programs are valuable development tools. Please see the details provided below by Jonathan Corle, our DVD Chair. As a member, you are encouraged to bring other professionals who are interested in attending. This will assist us in growing our membership – the lifeblood of our organization.

Community Service is an important aspect of our organization, as well. The Board has committed to participating in the American Red Cross Southeastern Pennsylvania Chapter – Annual Red Cross Walk in Fairmount Park on April 16. Please join us for the fun and worthwhile cause. Our intention is to raise $500 of donations.

We end up the Chapter’s 2004-2005 program year with our June 9 Annual Meeting – Understanding Style Analysis and Its Impact on Asset Allocation Modeling. Please mark your calendars for this thought provoking session.  Further information for any of these programs can be found in the calendar below.

June wraps up my term as President for 2004-2005. I thank you for the honor of serving you and working with the talented Board of Directors and our Executive Director, Christine Boylan. I would like to share a quote that expresses my sentiments precisely:  "I don’t think of leadership as a position. I don’t think of leadership as a skill--I think of leadership as a relationship." (Phil Quigley, CEO, Pacific Bell)

I look forward to continuing my relationship with our membership, the National Society of SFSP and our Board of Directors in the upcoming years.

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Mark Your Calendar!

For more information or to register, visit www.gpsfsp.org.

CE Meeting
Thursday, April 7, 2005
Registration: 8:15 AM
Program: 8:30 to 11:00 AM
Location: Karr Barth Associates, 40 Monument Rd., Bala Cynwyd, PA
Fees: $25 Member; $35 Non-member
Fees include continental breakfast.

Planning for Corporate Executives  . . . Case Studies  & More
Presenters: Jim Frank, LLM, JD and Jim Terranova, CLU, CHFC.

This two-hour session will explore estate and investment planning strategies for corporate executives. Components of a typical executive compensation benefit packages will be reviewed and tax-planning strategies integrated with those benefits will be discussed. Diversification challenges faced by executives holding concentrated equity positions, through stock option plans, will be analyzed utilizing case studies.

Register for this meeting HERE!
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Ethics Forum--with the Philadelphia Estate Planning Council
Thursday, April 28, 2005
Program: 8:30 – 11:00 AM 
Location: Mellon Bank Building, 1735 Market Street, 8^th Floor - Forum Room, Philadelphia, PA
Fee: $35

Focus on Compensation for Attorneys and Insurance Professionals: Some Lines Are Not Meant to be Crossed
Presenters: Carl Henry Delacato of Hecker Brown Sherry and Johnson and Jeffrey B. McCarron of Swartz Campbell, LLC

Compensation is one of the areas of professional ethical behavior that receives much attention. This presentation will focus on compensation issues for attorneys and insurance professionals. Topics to be examined include: permitted and questionable compensation practices; how current trends fit in with mandated professional behavior; the regulations governing compensation; practices in the market that may deviate from compensation guidelines; and the impact that various compensation practices have on both professionals and clients.

For more information or to register, visit the PEPC Web site.
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DVD Presentation
Thursday, May 19, 2005
Registration: 8:30 AM
Program: 9 AM - 12 PM
Location: TBD
Fees: $40 Member; $55 Non-Member
Fees include beverages, course book and CE fees.

Park Avenue Meets Main Street: Family Office Techniques for the Millionaire Next Door
Don’t miss this valuable program about the Family Office! As the name implies, the Family Office is an approach that supports the financial needs of a specific family or group of families. As more high-net-worth clients choose this way to manage their financial affairs, opportunities abound for financial advisers to target the unique needs of these clients. This program will explore the design and implementation of specific wealth planning strategies, including charitable giving and alternative investments, which will help financial advisers expand their client base and exceed the expectations of their clients.

Register for this DVD Program HERE!
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Annual Institute Meeting
Annual Chapter Meeting and Breakfast for New Designees

Thursday, June 9, 2005
New Designee Breakfast: 7:45 - 8:15 AM
Program Registration and Continental Breakfast:  8:15 AM
Location: Gregg Conference Center, Bryn Mawr, PA
Fees: $25 Society Member; $40 Non-member; Past President – complimentary

Understanding Style Analysis and Its Impact on Asset Allocation Modeling
Presenter: Peter J. Moran, President, Constellation Funds Group

Is there a way to make subtle changes to your asset allocation strategies which stand to enhance your clients’ overall performance? Is so, can you afford to miss this presentation? This discussion will focus on the problems with traditional style analysis, not the least of which is the penchant for the individual investor to chase past performance. The concept of sub-style analysis, how you can, and why you should implement within your firm’s asset allocation strategy, will be discussed.

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STEP UP and STEP OUT to the Red Cross Walk - April 16

On April 16, 2005, the American Red Cross Southeastern Pennsylvania Chapter will celebrate our third annual Red Cross Walk in Fairmount Park, Philadelphia. With Honorary Chairman Pat Croce leading the way, this is a popular event attended by thousands of residents from the communities our chapter serves. Festivities include family-friendly activities, entertainment and a picnic after the Walk. This year, we hope to raise $300,000 in walker pledges to support the efforts of our local chapter.

The Red Cross Walk will begin at Memorial Hall in Fairmount Park. The Walk is 12 kilometers (a little over 6 miles) and on a loop, so you can opt to walk from just one to the three full loops. Poop-out vehicles will be available for those who may not be able to make it all the way around! The route passes through the beautiful gardens of the Horticultural Center and past the renowned Japanese Tea House. Since thousands of people will be participating, we suggest you arrive promptly for sign-in.

8:00 AM  Sign-in begins
9:00 AM  Opening Ceremonies & Walk warm-up
9:15 AM  Walk begins!

There is no registration fee for the Walk. You have two options to register: 1) Online at www.redcrosswalk.org, using our online Walk management system. You will have instant access to create a team or individual walker Web site, and collect donations online from your sponsors. 2) Call 215-405-8888 to register by phone. One of our Team Outreach staff will get materials out to you right away.

Once you register, ask people to sponsor you by making a financial contribution. Sign up as many sponsors you can by getting friends, family, co-workers, neighbors, and business contacts involved. Set a personal fundraising goal – most walkers raise at least $150 – and make your potential sponsors aware of your goal.

Bringing a team of 15 people or more to the Walk creates fun and camaraderie among the group – whether a company team, or a team of family and friends. Each team will receive a kit from the Red Cross that will help guide you in reaching your fundraising goal.

This year we have added extra incentives for fundraising walkers and teams, and have even included a Top Dog Contest! For more information on the Walk and to sign up as a walker, sponsor, or volunteer, please visit www.redcrosswalk.org.

Please join us – your participation will make a difference to those we serve.

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 Extraordinary Educational Venue
Jonathan S. Corle, CLU, CFP, and a 28-year Society Member

Like other society members, I get hundreds of invitations to continuing education events. I pass on most of them, but one I rediscovered last fall is worth mentioning. Our chapter of SFSP participates in the national DVD programs, and I highly recommend them. These are excellent continuing education opportunities, and yet I find most members are not attending them. I encourage you to try one as I did.  I believe you will be sold on their quality and value.
Here is why I like them so much:

1. They are convenient and low cost.
2. Speakers are nationally known experts.
3. Topics are covered in depth at an advanced level with an excellent workbook provided.
4. Topics are covered in a fair and balanced way including the views of regulators that are very important to know.
5. There is no product basis for a particular carrier or investment institution.
6. You have the ability to ask questions of the presenters and to interact with your peers.

The next VTC event will be held on the morning of May 19, 2005 (see calendar above.)  Try it out--I think you will be just as pleased as I was.

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Volunteers Needed to Provide Pro Bono Financial Counseling to Habitat for Humanity Families

SFSP is teaming up with Habitat for Humanity to provide financial counseling to families that are working toward home ownership. Families are required to perform 350 hours of work to invest in their own home. As part of this "sweat equity" program, 14 families in the Philadelphia area will be attending these financial seminars. The focus is basic financial planning to help these families improve their lives. This is a first home for many of them, and they have many exciting but challenging choices in front of them as they have dreams of a better tomorrow. Topics are expected to include:

• Homeownership
• Managing your financial resources and establishing a budget
• Managing credit card & other debts
• Cash reserve funds
• Government benefits and health insurance issues
• Basic insurance, legal, college and retirement planning

We are hosting four two-hour seminars on Saturday from 9:00 to 11:00 AM at Habitat's headquarters, located at 1829 North 19^th St. in Philadelphia. Each seminar will focus on a specific topic, and the Society will prepare presentation materials to help with each session. The four dates are as follows:

• Saturday May 7^th
• Saturday May 14^th
• Saturday May 21^st
• Saturday June 4^th

We are asking for two advisors for each session. As an organization, we are full of financial wisdom, so let’s give back to the community! If you can donate your time and knowledge for one of these dates, please contact Paul Velho at 610-668-6612 or paul.velho@hartfordlife.com.

Both the Society and these families will appreciate your time and commitment!

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Guest Columnist: Chuck Martin
The Pace of Work

At what pace do you work?

Different people pace themselves differently. While some at work always seem to be done their project on time, others are cramming at the last minute, using every second right to the end.

 To read this article in its entirety, visit the GP-SFSP Web site.

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GP-SFSP Thanks All of our 2005 Annual Professionals Dinner Sponsors

Platinum Sponsors

BISYS - Philadelphia; Convetry First, LLC; Lincoln Financial Distributors; Model Consulting, Inc.; and Nationwide Financial

Gold Sponsors
Brokers Insurance Services*; Delaware Valley Financial Group; John Hancock Brokerage; and Nationwide Financial Services and The Best of America

Silver Sponsors
Barrist and Company; Branca-Rampart Agency, Inc.; ING LifeDesign / ING Funds; Karr Barth Assoc., Inc.; Mand Marblestone & Danzinger, P.C.; MassMutual / First Financial Group & Disability Sales Office; NAIFA - Greater Philadelphia; One Resource Group Corporation; Prudential Select Brokerage; Neiburg Insurance Agency, Inc.; Society of Financial Service Professionals; and Underwriting Specialists, Inc.

 

*Brokers Insurance Services of Jenkintown, PA, generously agreed to support this year's Financial Professionals Dinner as a Gold Sponsor.  Unfortunately, their advertisement was excluded from the 2005 Membership Directory.  GP-SFSP apologizes for this oversight.  Please visit Brokers Insurance at www.brokersinsure.com.

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Editor's Comments:  Looking Forward
Robert M. Flood, III, CLU, ChFC, MSFS

Back in January, "View from the Top" featured three top speakers in the insurance and investment industries. Several of the major topics discussed were social security, tax code, compensation disclosure and the stock market.

Social Security continues to dominate all the major news outlets. President Bush is busy promoting his social security privatization program throughout the country that features a small portion of the social security tax invested in "index funds". The President needs to articulate the full benefits and details of the plan as a solution to the future solvency of the program. The social security crisis is high on his agenda – but will he spend the political clout for change?

Capital gains tax rates at 15% may potentially create challenges for insurance product offerings featuring tax-deferred growth opportunities.

For the seventh straight time, Fed Chairman Alan Greenspan raised interest rates. He indicated more aggressive increases might be on the horizon. The increases did not instantly stoke the financial markets but, historically, could be good news. Traditionally when rates increase, it demonstrates strong growth prospects for the United States and around the world. The U.S. economy no longer needs to depress interest rates to stimulate the housing and commodity markets. Chairman Greenspan is showing that our historically low interest rates are no longer needed to stimulate growth in the U.S.

The outlook in the stock market in 2005 is positive with Price–to–Earnings ratios at 16-17, reminiscent of their historic norms. This is remarkable considering the affects of 9/11, accounting scandals and the war in Afghanistan and Iraq.

Lastly, I want to recognize the contributions Gail Brittingham has made this past year as our Chapter president. Her positive attitude and commitment to the Society of Financial Service Professionals was an inspiration to the Board and the membership. Gail Brittingham – Thank you!

-  Robert M. Flood, III, Vice President, Westport Worldwide, 200 Barr Harbor Drive, Suite 400, Conshohocken, PA 19428
For comments or suggestions, please e-mail rflood@westportworldwide.com.

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Another Membership Benefit of the
Greater Philadelphia Chapter of the Society of Financial Service Professionals
308 East Lancaster Avenue, Suite 110, Wynnewood, PA 19096
Tel.610-642-1685; Fax.610-642-0628; gp-sfsp@association-cba.org; www.gpsfsp.org
Editor: Robert Flood, CLU, ChFC, MSFS
Staff: Megan Garvey, Boylan & Associates, LLC

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