Tuesday, December 31, 2019


Parker Trasborg, CFP®

PRESIDENT'S MESSAGE

Hello and Happy New Year! As we kick off 2020, I want to express my gratitude to Chris Rivers, our outgoing President for his leadership last year. We started 2019 with a lot of uncertainty surrounding the status of our chapter as well as the future of the FPA when FPA National rolled out their OneFPA initiative. Thanks to our many members who provided feedback on the initial OneFPA proposal and to Howard Pressman, our 2018 Chapter President, who stepped up and joined the OneFPA Task Force for a year long commitment (which is turning into two years); FPA National has pumped the brakes on that change and it will be business as usual for FPANCA through at least the end of 2021. We thank you, Chris, and the rest of the Board, for all of your efforts and success over the past year.

As always, the uncertainty will continue into the new year.  Hopefully not from the FPA, but rather the uncertainty will come from abroad with the slowdown in Europe and the ongoing Brexit negotiations, and here at home with the continued trade-war and our Presidential election in November.  However, despite all of the past and future uncertainty, the 2010s close out the first decade in the stock market’s history without a recession.  If you have been paying attention to the constant news stream, it may not feel that transpired, but it was by most measures a great decade for equity markets.

This year’s Winter Symposium on January 24th promises to be one of the best Financial Planning conferences of the year. We have moved the location from Dulles to the Marriott in Tysons Corner, VA.  We hope that the new venue will be a more accessible location for those attending from all over the Washington DC Metro Area.  The theme is “What’s Next?”  We’ll hear from a number of speakers discussing the future of our profession as well as the relevance, or lack of, the Federal Reserve in the future.  The day has 7 CFP® CE credits pending approval.  Register today if you haven’t already.

Looking ahead, don’t miss our annual Career Day on February 21st in Reston, where you’ll have the opportunity to meet many talented students and job seekers, as well as have an opportunity to network over lunch and happy hour. 

Our Programs Directors are diligently working on finalizing the rest of our 2020 programs.  If you have any specific speaker that you’d like to hear from this year, please send us an e-mail.  We love to receive feedback from our membership.

Finally, if you are interested in getting involved or volunteering this year, no matter how big or small, please reach out.  We need to continue to bring in fresh faces with new ideas to keep our chapter vibrant and healthy.  Wishing you all a happy, healthy and successful New Year!

All the best,
Parker
Parker Trasborg, CFP®
2020 FPA NCA President
TrasborgP@CJMLTD.com

Tuesday, November 26, 2019


Chris Rivers, CFP®
President’s Message

We began 2019 on uncertain terms on many fronts. The outlook for markets was shaky entering the year, as we had just experienced a significant downturn in December, giving back gains made earlier in the year and ending up in the red for the first time in several years.  Within the FPA, a massive national overhaul of the structure and operation of the FPA was in the works, with significant implications for our chapter.

Who would have thought, 12 months later, that those would seem distant memories?  Markets rallied recovering what was lost in December and pushing higher. While the future is as uncertain as ever, it is clear forecasts of a crash to start the year did not come to pass.

On the FPA side, thanks in no small part to the voices of so many in our chapter, the proposed changes to FPA have been slowed and softened, and a more measured approach is being taken.  Beginning next year, a number of chapters around the country will undergo a beta-test of the FPA’s proposed changes, to better assess a path forward that we can all agree upon.  We chose as a chapter not to participate in this beta test, as we felt it would be more of a disruption than a benefit to our membership.  You will hear more next year about progress on this front.

In November several board members attended the FPA’s Chapter Leadership Conference, to hear updates to the OneFPA plan and more importantly to network and share ideas with volunteers from around the country. On top of that, at the conference our chapter was honored with two Outstanding Achievement Awards. One for the Why We Work video recording sessions held at the 2018 Winter Symposium, and one for the introduction of a technology sponsor package.

As we head towards 2020, and I hand the reins over to Parker Trasborg, I would again encourage everyone to get involved and engage with our chapter.  When I first volunteered for the board many years ago, there was competition for any open board position. Over the past several years, that dynamic has changed, and we are eager to find new volunteers, new viewpoints, and new energy for our board.

If you think you don’t have the time, talk to a board member about their experience next time you’re at an event.  I think you’ll find the time commitment is reasonable and the benefits are significant.  If volunteering for the board doesn’t seem right, there are plenty of other ways to get involved.  Many of our board members need help during the year, planning programs, contacting members, or otherwise coordinating FPA events. Most of us have an hour or two a month we could spare to connect with our colleagues and boost the profession.

Last but not least, please give us as much feedback as you can. The more we hear from you, the better we can tailor chapter activities to elevate your experience.

Coming up shortly, On December 5th we have our annual membership meeting and luncheon. We have two speakers lined up addressing timely topics. First, Harlan Accola will be presenting advanced applications in reverse mortgages and retirement planning. He’ll be followed by economist Terry Clower from George Mason University, presenting a local and national economic review and outlook.

No December message is complete without a mention of the Winter Symposium. The Symposium will be held Friday, January 24th, at a new location – the Tysons Marriott.  We are excited to be headed to a new venue, and we have a lineup that you won’t want to miss. 

We have Lourdes Gonzalez from the SEC presenting the view from regulators.  Tech guru Bill Winterberg will talk about the tech augmented advisor, while Jennine Garrelick from MFS will speak about the future of women in the industry.   In addition, we have fabulous speakers lined up discussing nextgen talent, ESG investing, brain health, and the Federal Reserve.  Registration is live, so sign up now to get the early bird rate before it expires.

Thank you once again for your engagement with FPA NCA this year. We have a lot to look forward to in 2020, and a thriving community that makes this one of best places in the country to be a financial planner.

All the best,
Chris
Chris Rivers, CFP®
2019 FPA NCA President
CRivers@AFMFA.com

Thursday, October 31, 2019


Chris Rivers, CFP®
President’s Message

We slide into November hot on the heels of a historic World Series title run by the Washington Nationals.  This was a long time coming as the last time that Washington had a rooting interest in the World Series was 86 years ago, in 1933, when they lost to the Giants. To those of us with a Series 7 license, 1933 may call to mind the Securities Act of 1933 – don’t worry, there won’t be a quiz at the end of this post on the ’33 Act vs. the ’34 Act.

1933 was a year of significant change in the U.S.  Franklin D. Roosevelt was inaugurated on March 4th, in the depths of the Great Depression, and the next day he declared a bank holiday lasting through March 13th.  This had a clear short-term effect, as on March 15, the Dow Jones Industrial Average gained a whopping 15.3%....to close at 62.10.  Since that time, the Dow has gained a whopping 43,585%, to reach the current level of roughly 27,000.  

We’ve come a long way since 1933, and there is much to be thankful for.   Here at home, we are thankful for your continued engagement with the chapter, which makes the FPA NCA a vibrant community.  The more of you we see at meetings, happy hours, and symposium events, the stronger we become.  Change is constant in our industry, and we are grateful that you continue to help shape the planning profession of the future.

Speaking of the future, here in the national capital area we are blessed with one of the strongest and most vibrant NexGen communities in the country.  On November 7th, we have our NexGen Retreat from 10:30am to 4pm at the Lake House in Reston, VA.   We have three speakers lined up during the day, and the event is followed by a happy hour open to ALL members at 4pm.   And yes, that happy hour includes 1 hour of CE.   Please consider attending or sending a team member, as this is one of our liveliest events of the year.

Then on December 5th we have our annual membership meeting and luncheon. We have two speakers lined up addressing timely topics. First, Harlan Accola will be presenting advanced applications in reverse mortgages and retirement planning. He’ll be followed by economist Terry Clower from George Mason University, presenting a local and national economic review and outlook.

On the horizon in early 2020, we have our premier event, the Winter Symposium, on Friday, January 24th, at a new location, the Tysons Marriott.  Speakers and agenda will be announced in the coming weeks via email and social media.  Be sure to sign up early to take advantage of the early bird rate!

Lastly, a few weeks ago the 2020 board met to begin planning for next year. We’ve got a lot of exciting ideas for the future, but we need your help. We need volunteers, especially on board committees.   In many cases these are commitments of not more than 1-2 hours per month.  We need feedback and suggestions as well, as the chapter and its activities should be driven by the things that you, the members, value.   In the meantime, as you ready for the year-end flurry of activity in your practice, take a moment to consider all that you have to be thankful for, at work and at home.

All the best,
Chris
Chris Rivers, CFP®
2019 FPA NCA President
CRivers@AFMFA.com