CAS News
Logan Curti joins CAS
We are excited for you to meet Logan Curti, a new addition to our growing, family-focused firm.
As New Business Development Coordinator at our Naples office, Logan will plan and execute a cohesive marketing strategy for our firm: managing our social media, email communications and web presence; coordinating events; and ensuring quality and consistency when creating our marketing materials.
“Logan brings a fresh and exciting perspective to our New Business Development Program,” said Geral Smith, Chief Operating Officer and Chief Compliance Officer of Ciccarelli Advisory Services. “In the short time he has been with our CAS family, he has made a positive impact in our marketing strategy. We look forward to his continued contributions.”
Logan earned his Bachelor’s degree in Public Relations and Advertising from North Dakota State University. Upon graduation, he worked as a sales consultant in Fargo, ND.
At Ciccarelli Advisory Services, we focus on what matters to your family because we are a family. We embrace a holistic approach to wealth management and financial planning. Our family of advisors and staff is dedicated to promoting the financial well-being of your family – today and for generations to come.
Mary Ellen Cooper Joins CAS
We are excited to share the newest addition to our growing, family-focused firm: Mary Ellen Cooper.
As a part-time Office Coordinator at our Rochester office, Mary Ellen will be instrumental in providing a positive experience for our clients: greeting clients as they arrive, answering the phones, preparing conference rooms for meetings, and facilitating the flow of incoming and outgoing mail.
“Mary Ellen is a delightful addition to our CAS family,” said Geral Smith, Chief Operating Officer and Chief Compliance Officer of Ciccarelli Advisory Services. “Our clients are treated to her bright smile and warm greeting the minute they come through our front door – and they love it!”
Prior to joining our firm, Mary Ellen worked as a receptionist at DiMarco Constructors. She earned her Associate’s degree in Business Management from Bryant & Stratton Business Institute, as well as an Associate’s degree in Liberal Arts and Sciences from Monroe Community College.
At Ciccarelli Advisory Services, we focus on what matters to your family because we are a family. We embrace a holistic approach to wealth management and financial planning. Our family of advisors and staff is dedicated to promoting the financial well-being of your family – today and for generations to come.
Josh Espinosa Joins CAS
Our CAS family is excited to announce the newest addition to our growing, family-focused firm: Josh Espinosa.
As a Financial Advisor at our Naples office, Josh will play an integral role in designing, coordinating and implementing comprehensive financial plans for our clients.
“Josh is a people person with a passion for the work we do, and we are elated to have him join our CAS family team!” said Kim Ciccarelli Kantor, President of Ciccarelli Advisory Services.
Josh has more than 10 years of diversified experience in investment analysis, asset management and financial planning. Prior to joining Ciccarelli Advisory Services, he worked as an investment portfolio analyst with Raymond James in Coral Gables, FL, and served as a due diligence analyst at the Raymond James corporate headquarters in St. Petersburg, FL.
Josh holds his Series 7 and 66 securities registrations. He also earned his Certified Investment Management Analyst® certification, administered by Investment Management Consultants Association® and taught in conjunction with MIT Sloan School of Management. Josh earned his Bachelor’s degree in International Relations from the University of South Florida, as well as two Master’s degrees in Business Management and International Business from the University of Florida.
At Ciccarelli Advisory Services, we focus on what matters to your family because we are a family. We embrace a holistic approach to wealth management and financial planning. Our family of advisors and staff is dedicated to promoting the financial well-being of your family – today and for generations to come.
Understanding Brexit – How will it impact me?
Yesterday’s vote by the British electorate to end its membership in the European Union seems to have taken just about everybody by surprise, but the aftermath could not have been more predictable. The uncertainty of how, exactly, Europe and Britain will manage a complex divorce over the coming decade sent global markets reeling.
London’s blue chip index, the Financial Times Stock Exchange 100, lost 4.4% of its value in one day, while Germany’s DAX market lost more than 7%. The British pound sterling is getting crushed (down 14% against the yen, 10% against the dollar).
Compared to the global markets, the reaction among traders on U.S. exchanges seems muted; down roughly 3% as you read this, though nobody knows if that’s the extent of the fall or just the beginning.
The important thing to understand is that the current market disruptions represent an emotional roller coaster, an immediate panic reaction to what is likely to be a very long-term, drawn out, ultimately graceful accommodation between the UK and Europe. German companies are certainly not 7% less valuable today than they were before the vote, and the pound sterling is certainly not suddenly a second-rate currency.
When the dust settles, people will see that this panicky Brexit aftermath was a buying opportunity, rather than a time to sell. People who sell may not realize that panic may be masquerading as an assessment of real damage to the companies they’ve invested in.
What happens next for Britain and its former partners on the continent? Let’s start with what will NOT happen. Unlike other European nations, Britain will not have to start printing a new currency. When the UK entered the EU, it chose to retain the British pound— that, of course, will continue. Stores and businesses will continue accepting euros.
On the trade and regulatory side, the actual split is still years away. One of the things you might not be hearing in the breathless coverage in the press is that the British electorate’s vote is actually not legally binding. It will not be until and unless the British government formally notifies the European Union of its intention to leave under Article 50 of the Treaty of Lisbon—known as the “exit clause.”
If that happens, Article 50 sets forth a two-year period of negotiations between the exiting country and the remaining union. Since British Prime Minister David Cameron has officially resigned his post and called for a new election, that clock probably won’t start ticking until the British people decide on their next leader. For the foreseeable future, despite what you read, the UK is still part of the Eurozone.
After notification, attorneys in Whitehall and Brussels would begin negotiating, piece by piece, a new trade relationship, including tariffs, how open the UK borders will be for travel, and a variety of hot button immigration issues. Estimates vary, but nobody seems to think the process will take less than five years to complete, and current arrangements will stay in place until new ones are agreed upon.
An alternative that is being widely discussed is a temporary acceptance of an established model—similar to Norway’s. Norway is not an EU member, but it pays EU dues, and has full access to the single market as if it was a member. However, that would require the British to continue paying EU budget dues and accept free movement of workers—which were exactly the provisions that voters rejected in the referendum.
Meanwhile, since the Brexit vote is not legally binding, it’s possible that the new government might decide to delay invoking Article 50. Or Parliament could instruct the prime minister not to invoke Article 50 until the government has had a chance to study further the implications. There could even be a second referendum to undo the first.
The important thing for everybody to remember is that the quick-twitch traders and speculators on Wall Street are chasing sentiment, not underlying value, and the markets right now are being driven by emotion to what is perceived as an event, but is really a long process that will be managed by reasonable people who aren’t interested in damaging their nation’s economic fortunes.
Nobody knows exactly how the long-term prospects of Britain, the EU or American companies doing business across the Atlantic will be impacted by Brexit, but it would be unwise to assume the worst so quickly after the vote.
But you can bet that, long-term, everybody will find a way to move past this interesting, unexpected event without suffering—or imposing—too much damage. Meanwhile, the market roller coaster seems to have entered one of those wild rides that we all experience periodically.
Please reach out to your CAS advisor if you would like to discuss in further detail.
Sources:
https://www.yahoo.com/news/brexit-shows-global-desire-throw-142925862.html
https://www.washingtonpost.com/opinions/global-opinions/after-brexit-what-will-and-wont-happen/2016/06/24/c9f7a2f6-39f1-11e6-8f7c-d4c723a2becb_story.html
http://www.businessinsider.com/global-market-brexit-reaction-2016-6
www.ft.com/cms/s/0/f0c4f432-371d-11e6-9a05-82a9b15a8ee7.html#ixzz4CVixCz25
http://www.ft.com/cms/s/0/f0c4f432-371d-11e6-9a05-82a9b15a8ee7.html?ftcamp=traffic/partner/brexit/dianomi/row/auddev#axzz4CVide1Sz
http://www.newser.com/story/227149/brexit-now-what-happens-welcome-to-article-50.html
A Journey of 9 Million Steps
Our journey of 4,000 miles began with a single step.
At the beginning of April, 15 members of our CAS family made a ten-week commitment to enhance their personal wellness. In the spirit of the Blue Zones Project’s concept of moai walking groups, our Naples office formed two teams – “FUNDamentals” and “Let’s Get Fiscal”. Each team walked together once per week for 20-30 minutes.
During the ten-week period, our walking groups took more than nine million steps, which is approximately 4,000 miles. To put our strides into context, the distance we covered is the equivalent of walking from Naples to Denver – and then walking back.
Danielle Lynch, the captain of team FUNDamentals, led the way with almost one million steps. In addition to increasing her own level of physical activity, she continuously challenged her team to get more steps – through motivational emails, verbal encouragement and competitions on the FitBit app.
“This ten-week challenge was very inspiring to me, to get moving on losing some weight,” Danielle said. “Walking weekly really helped me get back on track for exercising.”
Jessica Barton, the captain of Let’s Get Fiscal, focused on “motivating our team by example” – which was exemplified through her participation in several 5k races. She also utilized the FitBit app to offer positive encouragement and motivation for her teammates.
“Over the 10 weeks, the general morale of the office was very high,” Jessica said. “The healthy competition contributed to a more positive workplace.”
Danielle said she experienced noticeable benefits to her physical health, but added that her favorite aspect of the walking group was developing personal relationships with her teammates.
“It was great getting to have some quality time with a few people in the office to chit-chat about their lives, getting to really know someone outside of work,” Danielle said. “And we enjoyed a few laughs along the way!”
“I always learned something new about several of my co-workers on each of our walks,” Jessica added.
Logan Curti, a member of team FUNDamentals, joined the CAS family shortly before we started the walking groups. He said the experience played an important role in helping him adjust to his new job.
“Having the opportunity to connect with my new co-workers on a personal level – and establish those connections right away – was invaluable to me,” Logan said.
Although our walking groups have already logged nine million steps, our collective journey towards lifelong wellness is just beginning.
Team FUNDamentals – Danielle, Logan, Kim, Jill, Theresa, Jasen, Josh
Team Let’s Get Fiscal – Susan H, Denise, Susan B, Rosey, Jessica, Kay
Not pictured: Jason, Kathy
Kim Ciccarelli Kantor Recognized in Barron’s Top 100
For the seventh year in a row, Kim Ciccarelli Kantor, CFP®, CAP®, is being recognized by Barron’s Business and Financial Weekly as one of their “Top 100 Women Financial Advisors” for 2016.
“We are blessed with a solid foundation of continuous learning. The ability to apply knowledgeable advice from the experiences we garner through the generations of clients we serve is priceless,” Kantor said. “Sharing these experiences with clients everyday helps encourage intelligent, well-thought-out financial decisions for clients planning their own lifestyles and financial futures.”
Kantor was ranked 56th on the 2016 list. Her placement within the “Top 100 Women Financial Advisors” is a reflection of several key factors, including the volume of assets that are managed by the team; positive results from customer satisfaction reports; and the quality and professionalism of the practice.
As president and co-founder of Ciccarelli Advisory Services, Inc., Kantor has more than 34 years of financial planning experience and continues to serve generations of families across the United States. Our entire team of advisors and staff passionately embrace a holistic, family-centered approach to financial planning.
Ciccarelli Advisory Services prides itself in being a family-focused wealth management firm. We serve families well because we are a family. Our family of experienced advisors and staff is dedicated to promoting the financial well-being of your family – today and for generations to come.
To view the complete list of the “Top 100 Women Financial Advisors” for 2016, visit Barron’s Website.
The “Barron’s Top 100 Women Financial Advisors” – The rankings are based on qualitative criteria: professionals with a minimum of seven years financial service experience, acceptable compliance records, client retention reports and customer satisfaction reports. Advisors are quantitatively ranked based on varying types of revenues and asset advised by the financial professional, with weightings associated for each. Additional qualitative measures include: in depth interviews and discussions with senior management, peers and customers. Because individual client’s portfolio performance varies and is typically unaudited, this ranking focused on customer satisfaction and quality of advice. Please see http://online.barrons.com/report/top-financial-advisors for more information.
Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation.
CAS Profiles – Jordan Ramsay (New York)
Jordan joined the CAS team in May 2012 as a Client Services Associate for Ray Ciccarelli and Samantha Webster. In addition, she handles incoming calls and emails on behalf of Ray.
Jordan said the people at CAS truly make our organization special.
“Our team is made up of people that I feel lucky to know professionally and personally,” Jordan said. “It’s an honor to learn the industry from my bosses, and a privilege to put my talents to work for an organization that truly puts our clients first.”
“It’s a joy to chat with clients on the phone, and even more of a pleasure to meet them in person,” she said, adding that witnessing our clients achieve their financial goals is a source of personal inspiration.
Prior to her career in financial services, Jordan worked as an interior designer. She still enjoys “flexing her creative muscles,” working on projects around her house and offering creative ideas for friends and family.
Jordan is the proud mother of a “very cool, super smart, fun, talented and creative 10-year-old boy” named Chase. She loves spending time with her son, and dedicates much of her time during the summer to his Little League games. Outside of baseball season, they enjoy other outdoor activities: camping, boating, playing catch, going for hikes and bike rides.
In addition, Jordan likes to spend time with her girlfriends and her very supportive family.
Join Us for CAS Rochester Family Night!
Join our Ciccarelli Advisory Services family on Friday, August 19 at Frontier Field to watch the Rochester Redwings play the Buffalo Bisons.
We invite you, your children and your grandchildren to join us for a delicious picnic dinner before the game and a phenomenal fireworks display immediately after the game.
We will meet you at our table – located outside the main gate – at 6 p.m., where you can pick up your tickets and enjoy your picnic dinner. The game will start at 7:15.
Please email Carol at CGurnow@CAS-RocNY.com by August 8 to reserve your tickets.
Because we have a limited number of seats available, please indicate how many family members will be in your party, as well as the ages of any children who will be joining us. In order to accommodate as many families as possible, we ask that you limit your reservation to eight tickets.
In the event of rain, we will still enjoy our picnic dinner in the sheltered area outside of Frontier Field. You will be able to redeem your tickets for admission to a future Redwings game.
We look forward to enjoying a fun-filled evening with you and your family! PLAY BALL!
The Best Ways to Buy Happiness
We all know that money can’t buy you happiness, right? As it turns out, this is not exactly true.
A recent study by University of Michigan economists Betsey Stevenson and Justin Wolfers, examining data from more than 150 countries using World Bank data, has shed new light on the interaction between happiness and the size of your bank account. Their first conclusion: the more money you have, the happier you tend to be, regardless of where you are on the income spectrum. They concluded that multi-millionaires don’t think of themselves as “rich.”
However, there do seem to be income levels where a person’s happiness can be increased faster than others. Princeton University economist Angus Deaton has found that peoples’ day-to-day happiness level rises until they reach about $75,000 in income—a point where a person can comfortably afford the basic necessities of life without worrying where his or her next meal is going to come from. After that, this type of happiness levels off.
In fact, a report in Psychological Science magazine found that the wealthier people were, the less likely they were to savor positive experiences in their lives. Another study found that lottery winners tended to be less impressed by life’s simple pleasures than people who experienced no windfall.
Once you’ve had a chance to drink the finest French wines, fly in a private jet and watch the Super Bowl from a box seat, then a sunny day after a week of rain doesn’t produce quite the same jolt of happiness it used to. The additional money tended to have a cancelling effect on day-to-day happiness.
It’s another kind of happiness, which focuses on something the researchers call “life assessment,” that continues to rise at all levels of wealth. The more money people have, the more they feel like they have a better life, possibly (Deaton hypothesizes) because they feel like they’re outcompeting their peers.
Is there any way to more efficiently buy happiness with money? A study by the Chicago Booth School of Business found that people experienced more happiness if they spent money on others than when the money was spent on themselves. Treating someone else—or, more broadly, charitable activities—are among the most powerful financial enhancements to personal happiness.
Other research has shown that you get more happiness for your buck if you buy experiences rather than things. An epic trip to Paris, or a weekend at a bed and breakfast near the coast, can be more enduringly pleasure-inducing than buying a new watch or necklace. The watch or necklace quickly become a routine part of your environment, contributing nothing to happiness. But your travel experience can be shared with others and reminisced about.
Finally, you can buy time with money—decreasing your daily commute by moving closer to work, hiring somebody to help around the house, hiring an assistant to clear your desk—all giving you leisure time to pursue your interests. With the free time, take music lessons or learn to dance—and you’ll be happier than somebody with millions more than you have.
Sources:
http://fortune.com/2013/05/01/proof-that-money-does-in-fact-buy-happiness/
http://www.scientificamerican.com/article/can-money-buy-happiness/
http://www.nydailynews.com/life-style/health/money-buy-happiness-article-1.1458890
Guiding Generations: Planting Seeds to Help Your Children Blossom
Jill Ciccarelli Rapps | éBella Magazine | May 2016
Each of us work hard to improve our life in various ways – to be happy, satisfied, and to have a meaningful impact on those around us. That last point is worth a closer look. It’s impossible to overstate just how important it is that we do our part to guide future generations to ensure that they not only have the ability to be happy, but that they actually have a world worth living in.
Securing The Future
The future can be scary because of the unknowns, and for that reason, it’s easy for many to simply ignore it outright. But preparing future generations with our guidance is a must!
For many, taking an active part in this is a calling. Teachers, for example, have a huge influence on future generations and as such their actions will directly impact the future in ways that many can’t even begin to appreciate. But for those who aren’t working as teachers or leaders in youth-oriented organizations, what can you do? The answer is to focus on those who are within your “circle” – the ones who will carry your legacy forward.
Tips to Help You Guide Future Generations
So how do you go about planting seeds that will pay off for future generations?
- To begin with, you need to take steps to help protect your children or grandchildren and to make it easier for them to move through their lives. This means that for most, one of the first steps worth taking is to help solidify your finances with the future generations in mind. Setting up the right accounts and determining how you want wealth distributed is a must. Understand your children’s capabilities and prepare their legacy to enhance who they are. As an example, if they are spenders, perhaps their legacy should be stretched out during their lifetime so it can secure a wonderful livelihood for their lifetime.
- With that set up, there’s something else to consider – do future generations in your family understand the importance of managing finances properly and will they be able to make the most of what you do for them? Spending time discussing this subject with young people is something that’s worth doing and that could bring tremendous rewards with it – for them as well as for your own peace of mind. It is never too early to start; give the gift of a piggy bank as your child or grandchild is born and teach them how to pay themselves first! Start their first educational savings account when they are born. Teach them the power of compounding. As soon as they have a job, let them know you will match what they put into a Roth IRA up to a certain limit. There are so many ideas, these are just a few.
- Looking beyond money for a moment, have you done your best to help prepare your children or grandchildren for other challenges that life can throw at them? Money is only a small piece of the puzzle for most of us and mastering other aspects of life is important too. Teach your children the power of a positive mental attitude, how they can mold and shape their brain to accomplish their most important goals. If you are not sure how to do this, look for courses in your community that can help.
- Talk and communicate openly with your loved ones and with any younger person who is looking for guidance or advice. Your own life experiences can directly help those who come after you, and as such, it’s worth starting up a line of dialogue that remains open throughout your life. Have family meetings that are designed to share values and your most important lessons. There are so many wonderful gifts that come from family communication. Seek out who in your community can help you to design and facilitate your family gatherings.
Taking The Right Approach
Helping young people see the way that their actions influence the world is important. It begins with making sure that they have a clear idea as to how their actions will influence their lives and their future.
We can help you and your heirs understand more about finances and the future. Contact Ciccarelli Advisory Services, Inc. to find out more about what we can do for you and to help yourself rest easier at night.
