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text 2015-02-07 06:48
The CVS Group Arizona: Kampene Eldste Ekonomisk Svindel

Finansielle eldre overgrep ikke noe nytt. Men når det oppstår fra en finansiell profesjonell, det kan være spesielt urovekkende.

 

I en senere sak, ble Chico megler, tidligere tilknyttet Wells Fargo rådgivere, anklaget for å stjele nesten $89,000 fra sin klient, en eldre kvinne.

 

Megleren, Jeffrey C. McClure, ble permanent utestengt fra å selge verdipapirer, basert på beskyldninger om skrive 36 sjekker på kvinnens konto-uten hennes viten eller samtykke-mellom desember 2012 og August 2014.

 

Ifølge Financial Industry Regulatory Authority, utstedt sin håndhevelse 22 desember, hadde McClure tilgang til kundens sjekkhefte til å betale sine regninger. I stedet, han er anklaget for deponering kontrollene til sine egne kontoer og bruke penger på personlige utgifter.

 

«Bevæpnet med et sjekkhefte, han kunne skrive til sin fordel,"som angivelig totalt $88.500, sa Susan Axelrod, FINRA konserndirektør for regulatoriske operasjoner, basert i Washington, DC"som er typen person som vi ønsker å få ut av virksomheten."

 

McClure var permanent utestengt fra å selge verdipapirer. I samtykke til sanksjon, verken han innrømmet eller nektet belastninger, ifølge FINRA. Kall til kontoret til Mcclures advokat i Chico ble ikke returnert.

 

Finansielle misbruk av eldre tar en stor økonomisk toll. Årlig tap for ofrene er anslått til minst $2,9 milliarder, ifølge The MetLife studie av eldre finansielle misbruk i 2011.

 

For å dempe slike overgrep er utbredt. I fjor, gjenåpnet Sacramento fylkets voksen Protective Services office en ekonomisk svindel enhet, bemannet med fem etterforskere, følgende økt rapporter om eldre ekonomisk svindel.

 

I November fant en analyse av Wall Street Journal at landets største "hot spots" for megleren malfeasance var i California og Florida, hovedsakelig i områder med eldre med høyere enn gjennomsnittet inntekter. Av landets topp 16, større Sacramento området rangert nr. 10, foran San Diego, Orange County og San Fernando Valley.

 

"Det er en konsentrasjon i de områdene av noen mengde rikdom og pensjonister, som kan føre mer investering fagfolk til disse områdene- og dermed kan ha en høyere prosentandel av strid oppførsel som et resultat," sa Axelrod i en e-post. Hun sa FINRA har kontorer i Los Angeles og Boca Raton, Florida, som er fokusert på å se på høyere risiko individer i begge land.

 

FINRA, som har blitt anklaget av kritikere av ikke å være tøff nok, har vært sprengning ned på problemet meglere landsomfattende. I 2013 satt det opp et program å "høyrisiko" meglere basert på tips, uregelmessig transaksjoner og andre røde flagget atferd. I fjor, kastet basert på undersøkelser på avdelingskontorer landsomfattende, det 100 av disse høyrisiko meglere, noen i løpet av åtte dager. I November hadde FINRA sperret totalt 447 meglere i 2014.

 

De siste fem årene, FINRA sa, det har sparket ut av gjennomsnittlig 357 meglere årlig.

 

"Det er en svært liten prosentandel av høy risiko meglere," sa Axelrod. "De er en liten gruppe, men påstandene er så alvorlig, må de flyttes ut av business," sa Axelrod. "Vi har til å flytte raskt og raskt å forby dem (fra industrien)."

 

Med mer enn 629,500 personer registrert for å selge verdipapirer, er dårlige skuespillere virkelig en minoritet, FINRA sier.

 

"Det er en masse investering fagfolk som er fokusert på å gjøre en god jobb for kundene og som handler med integritet og ærlighet," bemerket Axelrod.

 

Likevel sier eksperter problemet med eldre finansielle misbruk er sannsynligvis vesentlig underrapportert.

 

Mange seniorer kan være motvillige til å rapportere økonomiske svindel, sier Eleanor Blayney, forbrukeren talsmann for sertifisert Financial Planner styret, som overvåker landets CFP industrien. Mange seniorer er flau over å bli lurt, kanskje ikke ønsker å innrømme de ikke er på finansielle forhold eller finner det uforståelig eller skremmende at en slekt medlem eller noen de er nær vil svindle dem, sa hun i en e-post.

 

"Best ett stykke av råd jeg ville gi eldre: identifisere en venn, et familiemedlem eller profesjonell å være deres talsmann og øyne og ører når de er engasjerende i en stor finansiell transaksjon eller beslutning," sa Blayney, som skrev CFP styrets finansielle selvforsvar Guide for eldre. "Ikke prøv å gjøre disse beslutningene selv, selv om du er sikker på at du er kompetente til å gjøre dette."

 

Blayney sa det er samme fremgangsmåte som når du står overfor en store medisinske prosedyrer og ta noen med deg til legen å diskutere alternativer. «Vedkommende kan lytte objektivt og høre ting som du kan gå glipp av eller ikke helt forstår, gitt ditt personlige og følelsesmessig engasjement i det som blir diskutert,» sa hun. "Alle, spesielt eldre, må en økonomisk talsmann like mye som en medisinsk talsmann."

 

 

ELDSTE EKONOMISK SVINDEL: HVORDAN UNNGÅ DET

 

Hva det er: utnytter finansielle eldre, som gjennom salg av upassende investeringer og livrenter, telemarketing forbruker svindel, forfalskning signaturer på finansregnskapet, etc. Det kan oppstå fra omsorgspersoner, familiemedlemmer, bedragere eller selv tilsynelatende pålitelige finansielle fagfolk.

 

Advarsel tegn: ukjent signaturer på sjekker; uvanlig uttak fra sjekke/sparekontoer; forvirret eller forvirrede oppførsel av senior og/eller utseendet til en ny "venn" som får tilgang til senior økonomi; regninger går ubetalte; uventede utgifter på turer, gaver eller andre innkjøp, etc.

 

Hvor å få hjelp:

 

FINRA: En uavhengig vaktbikkje for verdipapirer industrien, Financial Industry Regulatory Authority undersøker og disipliner meglere anklaget klanderverdig atferd. Vil søke etter en megler disiplinære historie, verktøyet FINRA'S BrokerCheck på: brokercheck.finra.org du kan skrive inn en enkeltperson eller et firmanavn. Eller ringe (800) 289-9999.

 

StopFraud.gov: Den føderale regjeringens gå-å sted for informasjon om eldre svindel og økonomiske utbytting, den viser mer enn 12 byråer utformet for å beskytte eldre.

 

Finansielle selvforsvar Guide for eldre: hvordan heftet av sertifisert Financial Planner styret har varselsignaler å unngå økonomisk svindel og misbruk. Gå til letsmakeaplan.org eller ringe (800) 487-1497.

 

Justisminister kontor: I California, staten justisministeren kontor har en "Citizen's Guide å forebygge & rapportering eldre misbruk," tilgjengelig online på oag.ca.gov.

 

CANHR: I San Francisco, California talsmenn for sykehjem Reform er en nonprofit involvert med senior problemer, inkludert finansielle misbruk. Det har også en advokat henvisning tjeneste for dem søker råd på eldre problemer. Det er på canhr.org eller (800) 474-1116.

 

Source: www.sacbee.com/news/business/personal-finance/claudia-buck/article5729442.html
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text 2015-01-24 07:33
The CVS Group: Retiring Abroad? Here's What You Need to Know

There's something undeniably appealing about the idea of living an expatriate adventure in retirement. Striking out for foreign shores can seem pragmatic as well as poetic.

 

"Most people envision a twofold advantage: the romance of experiencing a different culture and the notion that they can get more bang for their buck living abroad," says Bill Hunter, director in the Personal Retirement Solutions Group at Merrill Lynch. "And countries like Mexico, Costa Rica and Panama — popular destinations for retirees seeking warmer climates and lower costs — may offer both."

 

But relocating to another country isn't easy. You'll need to consider a range of factors, from your destination country's political stability to the logistics of managing your assets from afar. Hunter urges retirees to plan carefully and consider the following questions before packing their passports.

 

 

Is your family on board?

 

The migration of a close family member across the globe can change the family dynamics, whether between children and parents or within couples. Understand the impact your move will have on close relationships — especially the one you have with your partner.

 

"Make sure your spouse is as invested in the idea as you are," Hunter says. "That way, when unexpected issues arise — and they will, no matter how carefully you plan — you won't have the added complications of resentment and blame."

 

 

How will you handle health care needs?

 

Access to quality health care is paramount in retirement, so be sure to understand the relative cost and quality of care in the country where you hope to retire. "While many countries can offer health care that's as good as, if not better than, what you get in the U.S., that can vary by city or region, and even by type of care," warns Hunter, who suggests researching the physicians and facilities in your potential destination and planning accordingly. "Make sure quality remains on par with what's available in the U.S. even for more complex procedures — and if it doesn't, budget for the possibility that you may need to travel back home for certain medical procedures."

 

Given that Medicare doesn't cover health services outside the U.S., you may want to look into private health insurance — often less expensive overseas — or seek out a country such as Mexico, which allows those holding permanent residence visas to buy into its national health plan. Some retirees plan to live in another country for the early years of the retirement and then come back to the U.S. for the later years. But keep in mind that if you return home and sign up for Medicare, your premium will be 10% higher for each 12-month period you could have been enrolled but were not.

 

 

Are you looking for a tax advantage?

 

If lower taxes factor into your decision, think again. The IRS taxes U.S. citizens on income no matter where they live. In fact, even if you relinquish your citizenship (which few retirees do), you'll owe income tax as a nonresident alien. The U.S. also has laws to collect income tax from retirees who move their assets to a foreign country. The good news? Many countries, such as Canada and Mexico, have tax treaties with the U.S. that prevent double taxation.

 

 

How does the cost of living really compare?

 

You may be able to buy a beachfront home in Mexico for far less than what you would pay in the U.S., but you need to consider your entire budget. For example, relocation costs — whether moving your belongings or furnishing a home from scratch — may be higher than if you moved somewhere domestically. And the costs of groceries, heat, electricity, cellphone service and transportation may not cost less than what you're now spending, and could possibly be more.

 

 

Will you be able to work?

 

Although many of today's retirees hope to work during their retirement, living in a foreign country may make employment more complicated. "If that's part of your vision, consider the job prospects for folks with your experience in your destination country — and whether you will be allowed to work as a U.S. citizen abroad," Hunter suggests.

 

It's also worth looking into the professional culture of the location you're considering moving to. Be prepared for a potentially lengthy adjustment period, which could affect your income.

 

 

How will you manage your assets?

 

Because finances can usually be managed from afar with relative ease, expat retirees can keep their assets in the U.S., where the economy and political situation are relatively stable. "But you'll also want a local account to avoid currency exchange fees and ATM withdrawal charges," Hunter says.

 

Depending on your destination, you may also want to find out how you can proactively address cash flow issues — like having your account automatically frozen when you repeatedly access your credit card from a remote location.

 

"Talk to your Merrill Lynch financial advisor about how to hedge against exchange-rate fluctuations by setting up a local account and making regular transfers from your U.S. account to cover everyday expenses," Hunter adds. It's also a good idea to know whether these transfers might incur their own fees, and to ensure that legal documents — trusts, wills and powers of attorney — will be enforceable in your destination country.

 

When moving assets abroad or acquiring new investments in another country, consult a lawyer to determine whether those assets will be subject to local estate tax rules.

 

 

Can you adjust?

 

After the fantasy of living abroad becomes reality, some expats find themselves feeling isolated, particularly when they don't speak the local language. Consider whether you might want to live somewhere with a vibrant expatriate community. Also keep in mind that the amount of English spoken in various countries may vary from region to region, or even from neighborhood to neighborhood.

 

Hunter suggests spending a few months in a potential destination before making a permanent move. "You'll get a sense of life there and have the chance to scope out the housing situation and whether you'll be able to build a network," he says.

 

 

How will you connect with family and friends?

 

Lengthy plane rides can grow more difficult as you age. E-mail and video services make it easier to stay in touch with family members and friends back in the U.S., but if you want to see them regularly in person, choose a destination that will enable you and the people you care about to travel back and forth easily and affordably.

 

"There's a lot of appeal to the idea of leaving the culture you grew up in and starting a brand-new life," Hunter says. "But retiring abroad adds a layer of complexity to virtually every aspect of retirement planning. So make sure you do your homework and make the decision with your eyes wide open."

 

Source: www.wealthmanagement.ml.com/wm/pages/ArticleViewer.aspx?TITLE=Retiring-Abroad-Heres-What-You-Need-to-Know&referrer=retirement
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text 2015-01-17 02:55
The CVS Group Arizona: Merrill Lynch Financial Advisory Team

The CVS Group

 

Global Wealth Management

THE SCOTTSDALE SPECTRUM

6730 NORTH SCOTTSDALE ROAD

Suite 150

SCOTTSDALE, AZ 85253

Phone: (480) 607-8776

Email: Lawrence Van Quathem

 

PROFESSIONAL STAFF

 

Carol Sherman  (480) 607-8864   Senior Financial

Scott Como         (480) 607-8802   Investment Associate

Larry Van Quathem         (480) 607-8776   Wealth Management

Michael McCracken        (480) 607-8819   Financial Advisor

 

PROFESSIONAL PROFILE

 

Carol Sherman, Vice President, Senior Financial Advisor

 

Carol graduated from Arizona State University with a Bachelor of Science in Business Administration, and currently has 30 years of financial advisory experience. Carol joined Merrill Lynch in 2002 bringing extensive experience working with high net worth individuals and business owners assisting them with advice and guidance for a myriad of complex wealth management needs. Primary responsibilities with the CVS Group are business development and relationship management.

 

Prior to Merrill, Carol created the first healthy living stock index in 1993 and has been profiled in several national publications during her career involving socially responsible investments. Charitable interests include March of Dimes, Jerry's Kids, and children charities.

 

Carol resides in Scottsdale with her husband, Allen, and their three children.

 

  1. Scott Como, CIMA®, Assistant Vice President, Investment Associate

 

  1. Scott Como joined Merrill Lynch in 2000 with a combined 12 years experience in finance and small business management. Prior experience includes private equity, business start-up and operations, and life-insurance strategies. Scott's primary role is investment portfolio design.

 

Scott completed his BBA/Finance from the Anderson School of Management at the University of New Mexico(1989), Certified Investment Management Analyst® CIMA® (2009), and holds the title of Assistant Vice President. Charitable interests include Boxer Luv Rescue of AZ, Special Olympics, Rainbow Acres of Verde Valley, Scottsdale Arts, Young Life, and Arizona Humane Society.

 

Scott resides in Scottsdale with his wife Karol, son Jake, and boxers Jett, Donnie & Lilly.

 

Lawrence Van Quathem, CFP®, Vice President and Wealth Management Advisor

 

Larry began his career with Merrill Lynch in 1995. He excels at listening to your personal goals and then offering effective approaches to achieve them using a written plan of action. Larry's primary responsibilities are planning, client service model design, and business development.

 

An Arizona native, Larry is a graduate of the University of Arizona with a B.S. in Finance (1993). Larry is a Certified Financial Planner™ (CFP®) certificant (2001), a designation awarded by the Certified Financial Planner Board of Standards, Inc. Larry's professional and community interests include alumni volunteer for Delta Sigma Pi - Business Fraternity, past active member of the Scottsdale 20-30 club, and current Board member for the Association for Supportive Child Care.

 

Larry and his wife, Michele live in Phoenix with their son Jake. When he is not busy servicing our clients, Larry enjoys golf, tennis and running.

 

Michael McCracken, Financial Advisor

 

Michael has been in the financial services industry since 2009 and joined Merrill Lynch in 2012. Michael's primary responsibilities are business development and integrating our clients banking needs with their investment needs.

 

Michael is a graduate of Montana State University, with a B.S. in Finance. He currently resides in Scottsdale, Arizona. In his spare time, Michael serves the local youth as a member of the Scottsdale Active 20/30 Club and enjoys golfing and fishing. His is also an avid downhill skier.

 

Branch Office

6730 NORTH SCOTTSDALE ROAD

SCOTTSDALE, AZ 85253

 

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