Importing Inflation to Oklahomans

 

Lovingly Planning for the End of Our Marriage

 

Winnie the Pooh for the Times

 

Slippery Slope

 

Optimism VS Pesimism

 

VOTE Early and Often

https://oklahoma.gov/elections.html 

Improving Our Capacity for Difficult Conversations

 

Heroic ... defined.

 

https://www.youtube.com/watch?v=7wkefMOXNYA

When Science Meets ...

 

The video: THE AD-X2 CONTROVERSY   

From: NIST: Standing Up for Scientific Integrity

EVOLVING OUR CAPACITY FOR DIFFICULT CONVERSATIONS [CE Notes]

 

Sister Annabelle

 

My friend, Annabelle, would be 101 this summer. She passed a year ago on April 8, 2022. According to Sister Maria, her friend and care advocate, she had a normal morning and just took a nap and did not wake up. She also said that Annabelle was almost glowing and looked like she was much younger. That’s a fact I can confirm from the funeral. She had lots of great stories. To learn a little more about this fantastic lady, click the link below:

She was A Cloistered Nun for 24 Years

 ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. **

New England Wisdom

  ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. **

 

Problem or Predicament

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Your Tax Dollars at Work ~ Feel Safer Yet?"

 
“Your Tax Dollars At Work -- Feel Safer Yet?” 

    A few months ago I was at a men’s group meeting where I knew no one.  After finding out I am a Certified Financial Planner practitioner, several asked what I thought about the Bernie Madoff ponzi scheme that is all over the news. 

    I was more interested in what they thought should be done about it—since I already knew what I thought-- and to a person their solution was more laws and more governmental supervision.  As recently as today, the investigation of the regulators charged with examining Madoff’s registered businesses indicates “unbelievable incompetence” in failing to enforce existing laws. Well folks, our companies are regulated by the same Departments charged with supervising Bernie Madoff – The Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) specifically -- you know, the ones with egg all over their faces.

    We do believe there will be more rules and regulations, more regulators and more frequent examinations in the coming months. Many of you may have already been given additional documentation and been asked for your driver’s license to prove you are who you say you are. (Makes me feel safer in the same way as the time my shampoo was confiscated at the airport.)

Now, while we are regulated by the same people Madoff was, there are BIG differences in how we work:

1. Everyone gets third-party confirmation that their money is really there.
2. We do not take custody of client funds – meaning your investment checks are made out to the actual investment, NOT Access Financial Resources, Inc.
3. We do not advertise rates of return, and complex strategies to attract clients.

Here are a few experiences/incidents leading us to believe additional regulation is coming:

• 2005: While on the Financial Planning Association Board, I voted to sue the SEC to stop allowing Brokerage firms to have lower client accountability standards – David slayed Goliath – we won.
• 2007: National Association of Securities Dealers changes its name to Financial Industry Regulatory Authority.
• 2009: A small division of our company, $68,000/year gross revenue in 2008, was reviewed by FINRA.  They spent an entire week going through a computer questionnaire that indicated no real attempt to understand the reality of the situation, but instead to check all of the boxes. (form over substance) It would be virtually impossible to comply with every detail, and in our case would not benefit the client in any meaningful way.
• August 2009 – Oklahoma Department of Securities meeting with Irving Faught, Administrator (www.securities.ok.gov).  They are convinced that FINRA will end up supervising Registered Investment Advisors (that’s us). (FINRA is the one who missed Madoff, changed their name to sound more consumer oriented, and keeps the rules so complicated that big firms (the ones in all the trouble) love it and small firms struggle to comply).

 

Our response to expected increased regulation:

• March 2009 – We hired a compliance consultant and subscribed to a service for tracking all electronic communications. (Total cost per year, approximately $20,000).
• April 2009 – We started an internal compliance review, which will continue indefinitely.

 

Whew!!  That’s a lot to wade through and if you’re still awake, there is something we can all do.  Demand meaningful, effective regulation, NOT more of the same. Arm yourself and friends with prudent procedures, like tools available from the Oklahoma Dept. of Securities, to protect yourselves from being scammed.  Know that we are going over-the-top to protect client information and assets with healthy processes, procedures, technology, and Big Hearts.  No external rules or regulations can get us to WANT to take good care of people more than we already do.

 Feel safer yet?.......

Feel free to contact us with any questions about regulatory bodies or compliance documentation.

Civilization's Origin

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3 Truths

 

  ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. **     

Book Notes

  ** All written content is for information purposes only. Material presented is believed to be from reliable sources. No representations are made by our firm as to another parties’ informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. ** 

Do You Know a Muslim?

In Nashville recently I noticed how many different religious beliefs 

20 year Muslim Reservist

were represented by the people attending what I refer to as the cosmic financial planners group.  There were Mormons, Christians, Quakers, Bahai, Buddhist, and agnostics to name a few. I wasn't aware that I was searching this information out but instead just noticed this in reflection after the recent comments about Muslims from Donald Trump.

In a previous blog from awhile back I compared Oklahoma City to Damascus, Syria.  There were many common themes regarding the regular people of each city.  My guess is the comparison would NOT be similar today.  One thing hasn't changed though and that is how the saying "If a million people die it is a statistic.  If one person dies it is a tragedy." 

Above is a picture

Fork In The Road

At a recent conference in Nashville, Ed, a therapist, asked if i would drive him up the road to pick up some medication he needed since he left it at home.  Ed and I go a ways back and he is one of those people who is chock-full of intelligent humor and sweet and meaningful anecdotes.  Hence, the rest of the story about the Yogi Berra saying.  

Lucy's Last Wishes

LUCY IS FINE AND DOING WELL for a 17+ year old dog.  However, recently she was suffering from a persistent cough and after a few trips to the vet I had a moment.  Here is how it went--