News from FPA of Minnesota

Your Partner in Planning

August 1, 2023

Safeguarding Seniors: Understanding the latest fraud and scams

Free for members, $25 per guest

Thursday, Aug. 10, from 3:45-5 p.m.

Marti DeLiema, Ph.D.

Interdisciplinary gerontologist and assistant research professor in the School of Social Work at the University of Minnesota

Marty Fleischhacker

Senior Financial Fraud Ombudsman, MN Dept. of Commerce

In today's rapidly evolving digital age, financial scams and fraud have become increasingly sophisticated, targeting vulnerable individuals, particularly older adults. To address this critical issue, Marti DeLiema, from the University of Minnesota and Marty Fleischhacker from the Department of Commerce have joined forces to shed light on the latest scams, empowering financial advisors and consumers alike to protect themselves and their clients.

Our August presentation will provide valuable insights into scammers' methods, the advanced technologies they utilize, and the psychological tactics they leverage to deceive consumers. Attendees will learn about popular money transfer scams and the growing challenges posed by digital platforms that facilitate fraudulent activities.

Older adults face heightened risk. Research shows that declining financial capacity and social isolation make seniors susceptible to financial abuse. By delving into this topic, the presenters seek to increase awareness and equip attendees with the necessary knowledge to identify warning signs and protect their older clients effectively. Advisors will be informed about their obligations in reporting suspected financial abuse, and in fostering a sense of responsibility and accountability in their professional roles.

The Safe Senior Financial Protection Act safeguards older adults from financial exploitation. Understanding the provisions and implications of this act will enable advisors to assist their clients better and collaborate with government agencies like the Department of Commerce to prevent financial losses.

With the ever-changing landscape of scams and fraud, ongoing education and awareness are vital for financial advisors and consumers. This presentation is free for members.

More information.

Location: 500 Wells Fargo Plaza - 2nd Floor Conference Room

Happy Hour to Follow

5:15-6:30 p.m. at Cowboy Jacks, 2801 Southtown Dr., Bloomington, MN 55431

Not to miss: Social events this month

24th Annual Golf Tournament

Monday, Aug. 21, from 11-6 p.m.

Golf has been described as "an endless series of tragedies obscured by the occasional miracle.”

Join us this month for a day of miracles. In addition to having fun on the Prestwick Golf Course, there will be prizes, food and drinks. All skill levels are welcome.

Your registration supports a great cause - Emerge Mothers Academy.

ASCEND Conference: Register by Aug. 31 and save $50

Tuesday-Wednesday, Nov. 7-8

The November ASCEND Conference is gearing up!

Now is the time to take advantage of reduced pricing for this two-day event. Join nationally recognized financial leaders and earn up to 14 hours of CE credits, network with top professionals, and be inspired by some of the industry's premier speakers, including Michael Thomas, David Blanchett, Amy Florian, Stuart Bear and more.

For specific 2023 ASCEND Conference information, go to summary, agenda, speakers, fees and partners. FPA MN also has non-member pricing and non-member group conference pricing. See the end of the newsletter for scholarship information!

Interested in exhibiting and not yet a partner? We have a limited amount of silver and gold packages left. More information.

ASCEND Conference speaker spotlight: Melissa Kemp

Tuesday-Wednesday, Nov. 7-8

The ASCEND Conference features 23 notable speakers - including Melissa Kemp, president at Premium Organization/Premium Administration, LLC.

Kemp speaks at two sessions on the second day of the conference. "Professional Conduct and Regulation," is a comprehensive program that fulfills the requirement for CFP® board-approved continuing education on ethics.

Attendance at both sessions is required to earn two ethics CFP®, two ethics CIMA®, two ethics NASBA and one and one-half standard CLE credits.

Learning objectives:

Understand the revised Code and Standards, including key modifications and implications for CFP® professionals.
Comply with CFP® board's fiduciary duty, upholding ethical responsibility.
Apply Practice Standards effectively during financial planning services and recognize disclosure requirements.
Identify and manage material conflicts of interest transparently and skillfully.

ASCEND Conference information.

Member shoutout: Megan Olson

This month, we're honoring Megan Olson, who has been an integral part of FPA MN since 2011, starting as a student member. Megan attributes her decision to pursue a CFP® career to an informational session at the University of Minnesota Duluth focused on financial planning.

"I went to the school session for free pizza; but ended up with so much more. I learned about the possibility of a career in personal financial planning, where an interest in personal finance could be combined with my passion for assisting others. The prospect of supporting families with their life decisions and events brings immense fulfillment."

Currently working as a wealth manager for Accredited Investors Wealth Management®, Megan also serves as their internal social security resource. Her involvement with FPA MN has been extensive, including serving on the executive committee from 2018 to 2020 and acting as its president in 2019. Additionally, she has dedicated over a decade to the Career Development Committee and actively volunteers at the annual Career Day.

Megan's journey with FPA MN began when she attended Symposium (now the ASCEND Conference) on a student scholarship.

"The number of amazing people at the conference who were willing to help me find my path in the profession was inspiring. I was hooked."

The encouragement left a lasting impact on Megan, leading her to become deeply engaged with FPA MN. She values the opportunity to stay connected with the influential people she has met along the way, as well as to meet new members and contribute back to the community.

We extend our gratitude to Megan for her dedication to our chapter and the local financial planning community. Her commitment has enriched the lives of many.

Learn more about the Career Development Committee here.

Save the date for the NAPFA DEI Certificate & Training Program

Wednesday, Oct. 11 from 12-5 p.m.

The National Association of Personal Financial Advisors (NAPFA) created the Diversity, Equity and Inclusion (DEI) training and certificate program to equip NAPFA members and other financial advisors with valuable resources and education related to four key DEI areas - culture, hiring practices, people and inclusion.

Developed by financial advisors themselves, this program provides a deeper understanding of how to contribute to growing diversity, equity and inclusion within the financial planning profession.

FPA MN's Meetings and Events

Spread the word: Now accepting applications for ASCEND scholarships

Applications due by Sept. 30, 2023

If you know a college student or career changer interested in pursuing financial planning, here's a chance for them to attend the annual ASCEND Conference for free!

FPA MN and its Career Development Committee are offering five scholarships in 2023. What an opportunity for recipients to connect with financial planners and gain insights from inspiring keynote speakers.

Please see the application for more details.

FPA of Minnesota | 763.781.1212 | fpamn.org