Sponsored by City of Miami

CFP Board's Financial Planning Clinic

On Saturday, November 15, 2008, hundreds of Miami-area residents gathered at the Hyatt Regency at Miami Convention Center to meet one-on-one with nearly a hundred volunteer CERTIFIED FINANCIAL PLANNER™ professionals to discuss their personal finance questions, concerns and interests free of charge, with no strings attached.

The CFP® professionals at the event provided information and advice on a wide range of topics, including:

• Retirement Planning
• Investment Planning
• Insurance Planning
• General Financial Planning
• Estate Planning
• Employee Benefits Planning
• Income Tax Planning

The Financial Planning Clinic also offered Educational Workshops on diverse and popular financial topics presented by leading experts in personal finance.

The event raised public awareness of financial planning and the benefits of working with a financial planner who holds CFP® certification, the recognized standard of excellence for personal financial planning.

How the Financial Planning Clinic Works

A Financial Planning Clinic is a special event that provides the public an opportunity to address specific financial questions to professional financial planners who are volunteering their time and expertise to provide unbiased financial planning information tailored to each visitor's unique situation. All financial planners at the Clinic hold the CERTIFIED FINANCIAL PLANNER™ certification (CFP® certification) and are highly qualified to discuss your financial issues to help you find the answers you need.

At a Clinic, each volunteer is seated at a table designated for a specific financial planning topic. You can decide what topic you’re interested in and head over to the appropriate table. The volunteer CERTIFIED FINANCIAL PLANNER™ professionals will meet with only one individual, couple or family at a time but there is no limit to the number of volunteers you can meet with.

The Financial Planning Clinics further CFP Board's mission of serving the public by upholding the CFP® certification as the recognized standard of excellence in personal financial planning. In addition to this event in Miami, Financial Planning Clinics held in Los Angeles, Boston and Washington, DC were resounding successes for thousands of consumers who attended, as well as for the hundreds of CFP® professionals who gave back to their communities by sharing their talents.

The events were covered by more than 90 media outlets, including ABC, CBS, NBC's Telemundo, Univision, The Los Angeles Times, The Boston Globe, and The Miami Herald, as well as numerous other TV and radio stations, newspapers and online publications. More than 95% of past attendees who were surveyed indicated that they would recommend the Clinic to someone else, while the same percentage of past volunteers said that they would participate again.

View a video of the recent Financial Planning Clinic in Washington, DC.

CFP® Professionals

CFP Board would like to give special thanks to the dedicated group of CFP® professionals who served an advisory role in the planning of the Financial Planning Clinic and its promotion to Miami-area community groups and media outlets: Vielka Burey-Jacas, CFP®, Kenneth Eaton, CFP®, John Espinosa, CFP®, Scott Farber, CFP®, Elaine King, CFP®, Charles Sachs, CFP®, Ellen Siegel, CFP®, Eric Smith, CFP®, Elliot Weissmark, CFP® and Jason Whitby, CFP®.

CFP Board thanks the following CFP® professionals who helped make the Financial Planning Clinic a success:

• Frank Armstrong, CFP®
• Jean-Pierre Bado, CFP®
• Roxanne Blade, CFP®
• Susan Bradley, CFP®
• Vielka Burey-Jacas, CFP®
• Daniel Candura, CFP®
• Bill Carey, CFP®
• Philip Caso, CFP®
• Ranga Chary, CFP®
• May Cheung, CFP®
• Gary Cotter, CFP®
• Leonard Cusano, CFP®
• Jose de la lama, CFP®
• Matthew Dernis, CFP®
• Daniel Dixon, CFP®
• David Dowling, CFP®
• Glenn J. Downing, CFP®
• Ken Eaton, CFP®
• Daniel Elie, CFP®
• Ray Fitzgerald, CFP®
• Martin Franks, CFP®
• Raymond Galligan, CFP®
• Taylor Gang, CFP®
• Amelia Garcia, CFP®
• Debra Gauthier, CFP®
• Myles German, CFP®
• Kathleen Gilbertson, CFP®
• Archer Gillespie, CFP®
• Nancy Goethel, CFP®
• Robert Gordon, CFP®
• Gilberto Grana, CFP®
• William Grant, CFP®
• Karen Greenberg, CFP®
• Warland Griffith III, CFP®
• Alyson Hardin, CFP®
• Robert Henderson Jr., CFP®
• Jeffrey Heun, CFP®
• Nancy Hite, CFP®
• Gary Horowitz, CFP®
• Ferencz Horvath, CFP®
• Miguel Horvath, CFP®
• Edward Hussey, CFP®
• Laura Kaplan, CFP®
• Elaine King, CFP®
• Kathy Knaack, CFP®
• Matthew Lapides, CFP®
• Maohong Li, CFP®
• Odalis Lopez, CFP®
• Vincent Luongo, CFP®
• Edward Maass, CFP®
• Fady Maghak, CFP®
• Barry Manko, CFP®
• Matthew McGrath, CFP®
• Brian J. Mora, CFP®
• Dave Moran, CFP®
• Jim Mui, CFP®
• Brandon Opre, CFP®
• Damian Pardo, CFP®
• Peter Petrosky, CFP®
• Serge Pinard, CFP®
• Jamie Pope, CFP®
• Walter Priebe, CFP®
• Barry Rabinowitz, CFP®
• Marilyn Rangel, CFP®
• Ralph Robbins, CFP®
• Barry Robins, CFP®
• Charles Sachs, CFP®
• Steve Schmitt, CFP®
• Stephen Schwartz, CFP®
• Dale Shaffer, CFP®
• Rick Shapiro, CFP®
• Eric Smith, CFP®
• Richard Steiner, CFP®
• Denise Stephens, CFP®
• Andy Szkaradek, CFP®
• Brian Thelen, CFP®
• Richard Tonkinson, CFP®
• Maria Tyler, CFP®
• Alberto Valdes, CFP®
• Regina Vesci, CFP®
• Ryan Ward, CFP®
• Russ Weiss, CFP®
• Scott Wells, CFP®
• Jason Whitby, CFP®
• Eli Wolfson, CFP®

Free Educational Workshops

The Clinic also provided attendees an opportunity to select from a series of Educational Workshops and benefit from expert information on a wode range of financial topics.

Workshop Schedule:

12:00 p.m. Sessions:

Managing Debt: From Credit Cards to Foreclosures
This session by Charles Sachs, CFA, CFP®, covered how to manage debt, rather than letting debt manage you. Attendees learned how we got in this mess, what to do about it, and how to avoid some of the common mistakes.
 
College Funding and Planning
This presentation by Dan Candura, CFP® was designed for parents and students who want to understand how to plan for the increasing cost of college. There are many options for both saving and borrowing and this presentation will introduce you to the basic concepts for both. Topics in this presentation included how financial aid is calculated, tax-advantaged savings plans and where to find resources you can use today to prepare for tomorrow.
 
      > Download presentation
 
Investment Planning for Retirement Assets
This presentation by Ken Eaton, CFP® discussed what it takes to retire taking into account the challenges of coordinating your various sources of retirement income. The presentation focused on reviewing your current financial situation and different retirement variables. This workshop helped attendees determine a suitable retirement age and develop a suitable retirement strategy.
 
      > Download presentation
      > Download Income, Expense Budget and Net Worth Worksheet and Statement handout
 

1:00 p.m. Sessions:

Planning for Your Financial Goals
This presentation by Eric Smith, CFP® illustrated the process and value of financial planning to achieve your goals. Attendees learned about the step-by-step process of how to determine where they are financially, set realistic goals, and discover how financial plans are developed, implemented, and monitored. This workshop also included discussion of strategies for achieving goals by increasing investment returns while reducing investment risks and protecting your assets from unforeseen events.
 
      > Download presentation
 
Financial Planning for Special Needs
This presentation by Karen Greenberg, CFP® provided an overview of the people, documents and resources required to provide a safe and secure future for a person with special needs. Topics included Special Needs Trusts, Guardians and Trustees, the 'Letter of Intent," and tax planning for special needs families.
 
      > Download handout
 
Estate Planning Basics and How to Implement Them
Estate planning is the process of accumulating and disposing of property and financial assets to maximize the goals of the estate owner. Common goals include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including minimizing taxes and avoiding or minimizing probate court involvement. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity. The workshop presented by Gary W. Cotter, CFP® illustrated some of the potential problems and pitfalls people encounter in the planning process and ways to overcome them.
 
      > Download presentation
      > Download Basic Estate Planning handout
 

2:00 p.m. Sessions:

Investment Planning for Retirement Assets
This presentation by Ken Eaton, CFP® discussed what it takes to retire taking into account the challenges of coordinating your various sources of retirement income. The presentation focused on reviewing your current financial situation and different retirement variables. This workshop helped attendees determine a suitable retirement age and develop a suitable retirement strategy.
 
      > Download presentation
      > Download Income, Expense Budget and Net Worth Worksheet and Statement handout
 
Financial Planning for the Sandwich Generation
How do you successfully balance taking care of children and aging parents while maintaining your own life? This is the core issue of the sandwich generation. The complex financial issues facing this group are presented by Matthew Lapides, CFP®. His presentation addressed planning strategies to help prepare for, and successfully navigate through, interrelated family and financial demands. The key areas of discussion provided attendees with a framework to allow them to become organized and prepared in the areas of: achieving a successful retirement, preparing for college tuition, solutions for maintaining your parents’ livelihood, managing financial risks, and effectively transitioning family wealth while minimizing taxes.
 
Living Beyond Paycheck to Paycheck
Living Beyond Paycheck to Paycheck, presented by Steven W. Schmitt, MBA, CFP® took attendees back to the basic fundamentals of financial planning. Most Americans spend most of their lives earning money, but they rarely spend any time planning how to save or invest wisely. When many people reach age 65, they are financially unprepared for retirement. Income from Social Security is inadequate to support people at today's rate of payment, and few observers can predict the future of Social Security. This workshop focused on bringing financial planning back to basics. Attendees learned how to prepare a personal balance sheet, develop a personal saving strategy, reduce expenses and gain control of their financial destiny.
 
      > Download presentation
 

3:00 p.m. Sessions:

Planning for Retirement at Any Stage in Life
This presentation by Frank Armstrong, CFP® reviewed the five key stages of life and retirement planning: Just Getting Started, Changing Jobs, Mid Career, Transition and Retirement and what are the most important steps, in order, to have a comfortable and satisfying retirement. Areas of discussion included establishing a positive cash flow to allow you to save for retirement, using the appropriate asset classes for the right time horizon, strategies on selecting and monitoring the best investment options, and the tools to employ in one’s investment strategy.
 
      > Download presentation
 
Financial Planning for Small Business
Financial planning is the process of meeting your financial life’s goals, such as assuring your financial security, educating your children or grandchildren, pursing charitable objectives and passing your wealth onto your children in a tax efficient and protected manner, through the proper management of your finances. Financial planning involves evaluating your financial goals and objectives, net worth, income and expenses, developing a plan of action, including cash flow and investment management, and implementing that plan. An effective financial plan evaluates the variables that will impact your specific financial situation, analyzes the myriad of planning options available and determine the most appropriate strategies for you and your family. During this session by Scott Farber, CFP® attendees learned about the financial planning process, the different parts of a comprehensive financial plan, various planning ideas designed to help you achieve your goals and the potential roadblocks you may encounter along the way, all from the prospective of a small business owner.
 
      > Download presentation
 
Young Professionals: Launching Your Financial Plan
This workshop by Jason Whitby, CFP®, CFA reviewed key areas to keep you on track to financial success during the early stages of your careers as well as highlighting some common mistakes. The presentation covered a broad range of financial planning topics such as buying your first home, insurance needs, managing debt, getting married and protecting against divorce, starting a family, caring for your parents, protecting inheritances and saving for retirement.
 
      > Download presentation
 

Talleres Educativos

Durante la Clínica se podrá elegir entre los siguientes talleres educativos cuya duración será de 50 minutos y que se impartirán en español, para que usted pueda acceder a información experta sobre distintos temas financieros que puedan ser de su interés.

12:00 p.m.:
 
Planeando su futuro financiero
¿Qué puede hacer usted ahora para manejar bien su dinero a fin de conseguir sus metas financieras? Este taller introductorio impartido por Hortensia Perez, CFP® le aportará un panorama general de la planificación financiera. Se hará una reflexión sobre estrategias financieras racionales que han ayudado a muchas personas y familias a alcanzar sus metas financieras.
 
      > Download presentation
 
1:00 p.m.:
 
Planificando la inversión de los fondos de retiro
En este taller impartido por Robert J. Gordon, MBA, CFP®, AIF® se hablará del procedimiento clave a seguir para planificar una jubilación segura y digna, haciendo especial hincapié en la importancia de elaborar un plan de retiro que se base en la realidad y tenga en cuenta tanto el potencial de rentabilidad, como el equilibrio entre el “vivir al día” y el “ahorrar e invertir hoy para asegurar el mañana”. Las áreas claves comprenden: el entendimiento del flujo de caja familiar; el reparto de activos para conseguir crecimiento y también seguridad; la elección y el seguimiento de cerca de las mejores opciones de inversión; y, por último, las estrategias de inversión basadas en la conciencia tributaria.
 
      > Download presentation
 
2:00 p.m.:
 
Planificación financiera para jóvenes profesionales
Muchos jóvenes profesionales suelen tener que asumir retos financieros a la vez que les vienen surgiendo cambios importantes en la vida cotidiana. Sea emprender una carrera profesional, comprarse una casa o tener hijos, toda ocasión requiere una planificación adecuada. Este taller impartido por Elaine King, CFP® demostrará cómo desarrollar y mantener un plan financiero y, a su vez, mitigar los riesgos que se les presenten a los jóvenes profesionales.
 
      > Download presentation
 
3:00 p.m.:
 
Financiamiento y planificación de la educación universitaria
Este taller impartido por Robert J. Gordon, MBA, CFP®, AIF® se dirige a aquellos padres y estudiantes preocupados por cómo hacer frente a la matrícula y demás costos universitarios. Con la tasa de crecimiento de los costos educativos por encima de la de los ingresos promedios, es imprescindible planear con prudencia la asunción de este tipo de gastos. En el taller se contemplarán temas como el proceso de financiamiento universitario, la identificación de universidades cuya ayuda económica se adecúe a sus necesidades, así como la importancia de calcular lo antes posible su Contribución Familiar Esperada (EFC por sus siglas en inglés).
 
      > Download presentation
 

Workshop Speakers

			Frank Armstrong, CFP® has over 35 years experience in the securities and financial services industry and is the founder of Investor Solutions, Inc. an independent, fee-only investment management firm in Coconut Grove, Florida. He holds a B.A. in Economics from the University of Virginia and is a CERTIFIED FINANCIAL PLANNER™ practitioner. His best selling book The Informed Investor was cited by Business Week as one of the best investment books of 2002. His first publication, Investment Strategies for the 21st Century, is one of the first books ever published and serialized on the internet in multiple languages. Frank has been a featured columnist on Morningstar.com and is a frequent contributor to NNfn.com, AccountsWorld.com, and Fundsinteractive.com. He has also appeared on CNN Headline News, Your Money with Stewart Varney, PBS Morning Business Report, and Net Financial News.
			Dan Candura, CFP® provides financial advice and education to both consumers and financial professionals. As President of PennyTree Advisors LLC, a Registered Investment Advisory firm in Massachusetts, he provides personal financial planning for consumers, financial education counseling to employees in workplace settings and litigation support and forensic financial analysis services for attorneys. He is founder of his own education and consulting firm, Candura Group, LLC. Dan teaches in the Sawyer School of Business at Suffolk University in Boston and is a FINRA arbitrator. Dan appeared as a featured expert on the nationally broadcast 2008 PBS documentary Retirement Revolution. He has been quoted in USA Today, Investment News, The Journal of Financial Planning, Bloomberg’s Wealth Manager and other publications. A dynamic and engaging speaker, he presented hundreds of seminars and workshops across the country on topics ranging from the basics of financial planning to the future of quality within the financial services industry. Dan serves on the Board of Directors of The Certified Financial Planner Board of Standards, Inc.
			Gary W. Cotter, CFP®, President of Cotter Financial in the Tampa Bay area, has been a practicing financial planner for 30 years. He specializes in coordinated planning for retirees and those close to retirement. Formerly regional estate planning vice president for a major brokerage firm, Gary assisted clients in Florida and Alabama with the estate planning portion of their financial plans. Gary is a graduate of Texas A&M University-Corpus Christi has a Masters degree from the State University of New York at Albany and has completed further graduate work in economics and business at the University of South Florida. He has written over 100 published articles on various aspects of financial planning and has be quoted in The Wall Street Journal, USA Today, Registered Representative, Research and many other local and professional publications.
			Kenneth H. Eaton, CFP® is Vice President of Investments at Raymond James & Associates in Coral Gables, Florida. Ken specializes in providing personal financial and retirement planning. He has provided financial guidance in South Florida since 1987 and has been a featured speaker at numerous industry events. Ken holds a Bachelor of Science Degree from the University of South Florida and has series 6, 7, 63 and 65 licenses.
			Scott Farber, JD, CPA, CFP® is a Wealth Strategist located in the Miami, FL office of U.S. Trust and is head of their International Resource Team. Prior to joining U.S. Trust, he developed and oversaw the wealth advisory practice at the Boston investment management firm Woodstock Corporation. He was awarded a JD (magna cum laude) from Suffolk University School of Law and a BBA from the University of Massachusetts at Amherst where he majored in accounting. Mr. Farber has lectured on various topics including: the Basics of Estate and Financial Planning, Asset Protection Planning, Accounting for Trusts and Estates, The Use of Discounts in Estate Planning, Business Succession Planning and Family Limited Partnerships. Mr. Farber has been quoted in Worth magazine, Financial Planning magazine, Financial Advisor, Market Watch, Investment News, Bankrate.com, Spirit magazine (Southwest Airlines in-flight magazine) and The Christian Science Monitor and contributed to articles in the Wall Street Journal and Fidelity Magazine. He has also appeared as a guest on Voice America Business and XM Satellite Radio discussing various wealth planning topics.
			Robert J. Gordon, MBA, CFP®, AIF® has more than twelve years of experience in the financial services industry focusing on portfolio construction and financial planning for high net worth clients and their families. Robert has a Bachelor of Arts in Economics from Dartmouth College and an MBA from the Darden Graduate School of Business Administration at the University of Virginia. Additionally, he is a CERTIFIED FINANCIAL PLANNER™ practitioner.
			Karen Greenberg, CFP® is the mother of a child with Autism, and has been a public speaker on special needs planning since 1993. She is Director of Prosperity Life Planning, a not-for-profit corporation dedicated to teaching families of disabled children and adults ways to provide for a financially comfortable quality of life, while preserving eligibility for governmental entitlements, such as Medicaid and SSI. She has an MBA in taxation and is a CERTIFIED FINANCIAL PLANNER™ professional. Karen also works as an independent accountant for a number of small businesses and does tax preparation for individuals and businesses alike.
			As the Director of Gibraltar Private’s Wealth & Well-Being Center, Elaine King, CFP® provides families with planning strategies by helping them understand, organize and manage their wealth around an actionable strategy. Her multi-faceted role includes advising on retirement planning, saving for educational needs, estate planning, family meetings and financial competency for children. Her 13-year career includes serving as the Latin American Investment Sales Advisor for The Royal Bank of Scotland (Coutts) $8 billion investment service and as the Sales Manager for Citigroup $13 billion investment advisory service. Elaine has worked and studied in Austria, Japan, Mexico and Peru. She earned her B.B.A. from St. Mary’s University and her MBA from Thunderbird. Elaine is the Miami-Dade Financial Planning Association’s 2009 President-Elect. She has appeared in CBS and has been quoted by The Wall Street Journal, The Journal of Financial Planning, The Miami Herald, The Sun Sentinel and other national news organizations.
			Matthew A. Lapides, CFP® joined Merrill Lynch in 1998, serving as a Vice President and Senior Financial Advisor providing financial and wealth management advice. Matt specializes in financial goal-based asset management solutions, business financial services, and estate and wealth transfer issues. Matt served as a Resident Director to a Merrill Lynch branch office for 6 years and has a practice working with a select group of clients. He holds a bachelor’s degree in Finance from Lehigh University, obtained the professional accreditation of CERTIFIED FINANCIAL PLANNER™ professional, is Series 7, 66, 31, 9, and 10 registered and holds life and health insurance licenses.
			Hortensia Perez, CFP® has been assisting individuals with their financial planning needs since 1987. Before joining the ICMA-RC in 2003, Ms. Perez was VP of Investments at a major brokerage firm, where she managed assets and prepared financial plans for individual investors. She also served as VP and Private Bank Relationship Manager at a major bank where she provided wealth management for high-net-worth individuals. Ms. Perez is a FINRA Series 7, 26, 63, and 65 Registered Representative. She earned her Bachelor’s of Business Administration in Finance from Florida International University and is currently enrolled in the Master of Science program at The College for Financial Planning. Ms. Perez has taught Retirement Planning at Florida International University to individuals who were studying to take the CFP® exam.
			Charles Sachs, CFA, CFP® is a vice president with Evensky & Katz Wealth Management in Coral Gables, Florida and member of their investment committee. He has been involved in financial education for over fifteen years with a variety of organizations including the Evelyn Brust Financial Research and Education Foundation, Miami Dade College, Financial Planning Association and U.S. Government. He holds a Masters of Business Administration with honors from Florida International University and a Bachelor of Professional Aeronautics from Embry-Riddle Aeronautical University. Prior to his planning career, he served as Marine Corps flight test crewmember.
			Steven W. Schmitt, MBA, CFP® is Associate Vice President and Investment Officer with Wachovia Securities, serving the emerging investor community across the country. Within the structure of his team, Steven focuses primarily on money management and the critical decision making that impacts client portfolios. Steven’s extensive background in finance affords him the expertise to teach the importance of Proper Asset Allocation, Diversification and Active Management. His interest and passion for meteorology allows Steven’s clients to benefit from the addition of alternative investments and commodities being incorporated into their portfolios and to capture opportunities in the marketplace generated by changes in climate and weather trends. Steven is also the Regional Coordinator Chairperson for Wachovia Corporate Diversity Group.
			Eric A. Smith, CFP®, CLU®, ChFC®, CRPC is owner of Eric Smith Financial Services in Miramar, Florida. He also is the Lead Instructor in the CFP® certification educational program at the University of Miami and an instructor in the CFP® certification educational program at Florida Atlantic University. Eric has appeared on WPLG-TV News, public affairs programming on TBN, WFLX-TV’s Talk About Money, and Crown Financial’s Money Matters. His book, Mastering Calculations on the CFP® Certification Examination was published in August, and his article, “Low Income Housing Tax Credit Basics”, appears in the May 2000 issue of the Journal of Financial Planning. Eric received his B.S. in Education from Indiana University of Pennsylvania and his M.A. from Ball State University. He has been in the financial services industry since 1986.
			Jason Whitby, CFP®, CFA® has more than 7 years in the financial services industry providing financial planning and investment management for high net worth clients and institutions. His experience encompasses security research, portfolio construction, and risk management. Jason has a Bachelor of Science in Chemical Engineering from Purdue University and an MBA from Santa Clara University with a concentration in Finance. Additionally, he is a CERTIFIED FINANCIAL PLANNER™ practitioner as well as a Chartered Financial Analyst®.

Important Information Concerning CFP Board's Free Financial Planning Clinic

The independent professionals at this Financial Planning Clinic have volunteered to provide free general financial planning information. By accepting this information without paying any costs or fees, you expressly agree that you will hold all individuals and parties associated with this Clinic harmless regarding any action you may ultimately decide to take in connection with information, conversations, advice or recommendations you may receive at the Clinic.

Any facts, recommendations or advice you may receive at the Clinic are for informational purposes only, and reliance on it is solely at your own risk. No client, representative or agent relationship may be formed at the Clinic.

CFP Board does not recommend or endorse individual professionals or professional services. CFP Board's Mission focuses on benefiting the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning.