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Prepare for the Unexpected!

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By Mack Bekeza

Ever wonder what would happen if you were not able to make critical decisions by yourself because you were incapacitated? Is there anything you can do to prepare for the unexpected? Yes, there is! While you are still able to do so, there are three crucial documents that all adults should have to be prepared for one of life’s major curveballs. The documents include:

  1. The Financial Power of Attorney (“FPOA”): This is a document that allows an individual (the “principal”) to appoint someone (an “agent”) to make financial decisions on their behalf. This authority can be in effect immediately or come into force when the principal is incapacitated. This can also be beneficial for those who travel internationally and will not be available to sign financial documents.
  2. The Medical Power of Attorney (“MPOA”): This is a document that appoints an agent to make most medical decisions on someone’s behalf if they are incapacitated. It is crucial to also include something called a HIPAA waiver which will allow the agent to access medical records. Without the HIPAA waiver, the agent might not be able to act in the best interest of the principal due to lack of information. It is also important to know that if the principal is in terminal condition, a MPOA will not suffice. In that instance, there is another document that will.
  3. The Living Will/Advanced Directive: This document will allow an individual to decide how they want to be treated in the instance that they are in terminal condition and cannot communicate verbally. For instance, the individual can elect to refuse to be on life support or to be heavily medicated so they can pass peacefully. But perhaps the reason why this document is so crucial is because it will remove the burden from family members required to make these painful decisions and can even prevent families from falling apart due to disagreements.

So, what if you have children or if you were to pass away earlier than expected? If so, how can you communicate those wishes to your children along with other family members?

On December 13th, Castle Rock Investment Company is hosting a holiday event about how you can communicate your wishes to your loved ones with a “Love Letter.” The Love Letter™ just might be one of the best gifts you can give to your family! If you would like to learn more about this event, please go to www.castlerockinvesting.com and register on our home page. You will be glad you did!

For additional information on the event or to register, please contact Kristen Sanchez at Kristen@castlerockinvesting.com.

©2016 Castle Rock Investment Company. All rights reserved. Please share your insights and comments with us at Info@Castlerockinvesting.com

Castle Rock Investment Company to Host “Family Love Letter” Event

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47ee43aa-111a-469e-92e2-41dddf180628Castle Rock Investment Company (“Castle Rock”) is accepting registrations for its complimentary event: “Family Love Letter: A Family Affair,” to be held on December 13th from 5:00pm-7:30pm at its office in Castle Rock, Colorado.

At this event, attendees will learn how they can prepare for a time of loss or incapacity by creating their own Family Love Letter. This planning will prevent rash decisions and mistakes at a time of grief or confusion and serve as a guide for a smooth transition.

“We are so excited to host an event that will assist families in creating a sound future for their loved, ones,” said Michele Suriano, President of Castle Rock Investment Company. “Creating a Family Love Letter can help with sensitive conversations that families must have about preserving, protecting, and transferring the legacy that loved ones leave behind.”

During the workshop, participants will be given a workbook to complete that includes information on assets, advisers, liabilities, insurance benefits, documents and family history.

REGISTER

The event will be held at Castle Rock’s office at 333 Perry Street, Third Floor Conference Room in Castle Rock, Colorado.

For additional information on the event or to register, please contact Kristen Sanchez at Castle 303.719.7523 or by emailing her at Kristen@castlerockinvesting.com.

 

Complimentary Seminar – Solutions For You to Comply with the DOL Fiduciary Rules

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Do you advise on 401(k) plans?

Please join Castle Rock Investment Company and the Law Office of Ed Frado, LLC on September 20, 2016 for a lunch seminar at Maggiano’s Little Italy (DTC).

We will educate you about the new DOL rules, their impact on you, and solutions that are available to you to comply. You will also meet advisers that focus exclusively on serving retirement plans and how they plan to grow in this new fiduciary world through acquisition and strategic partnerships.

Please click here to register. We look forward to seeing you in September!

Coming April 10, 2017

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Did you know that when you pay for investment advice, your adviser might not always have your best interests at heart? Yes, investment advisers are currently legally allowed to sell you products with their own financial gains in mind, even if it means that the products have a high price tag or pay excessive commissions. This is ridiculous, we know, but there is good news for investors on the horizon!

On April 8, 2016, the DOL released its final “Conflict of Interest Rule” to update the definition of fiduciary investment advice under the Employee Retirement Income Security Act (ERISA). The new rule will protect investors by requiring all who provide retirement investment advice to plans and IRAs to abide by a ‘fiduciary’ standard, which basically means that they must put their clients’ best interests ahead of their own financial gains.

What does this new regulation mean for average investors? It is a big win for them. Castle Rock Investment Company applauds the new regulation since it empowers investors to be given the best advice possible as they make crucial decisions about their retirement savings plans. If you have questions about the new fiduciary regulation, please contact us at info@castlerockinvesting.com or via phone at 303.719.7523.

Castle Rock Investment Company Celebrates 10 Years!

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Castle Rock Investment Company, formed in April 2006, is an independent woman-owned registered investment adviser located in Castle Rock, Colorado. We celebrated our 10-year anniversary on April 17, 2016.

To celebrate this important milestone, 50 people attended our 10 Year Anniversary Party at Siena at the Courtyard in Castle Rock.  It was a wonderful evening with delicious food, great weather and a festive atmosphere. We were honored that so many of our colleagues and friends came to the event to celebrate our anniversary.

Thank you to everyone who has supported our company over the past 10 years. We look forward to continue serving our great clients for many years to come.

Regards,

Michele Suriano
President
Castle Rock Investment Company

 

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Water Cooler Wisdom – First Quarter 2015

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Most of the significant economic elements from the end of 2014 carried into the first quarter of 2015, including the abnormally low price of oil, a strong U.S. dollar, and the ongoing financial experiment of the Federal Reserve. The European Central Bank’s decision to implement a negative deposit rate (-0.10%) last June has become kitchen table talk and began to foster some growth in the European economy.

Returns and Valuations by Style
Since the S&P 500 return was sideways in the first quarter, investors who were willing to take on more risk in the U.S. small
capitalization growth style equity market generally fared better than their large capitalization “value” style peers. The difference in performance by size and style was a reversal from the trend in 2014.

Energy Supply Demand and Prices
The price of oil, hovering around $50 per barrel, has continued to dominate the headlines and impact GDP forecasts. On the slide, you’ll see U.S. productionincreasedby20.8%since2013whileconsumptiononlyincreasedby2%. The oversupply from the U.S. is projected to continue despite the absence of marginal producers that could not compete in the current marketplace. Generally, economists were expecting a 1% bump to GDP from the stimulus created by lower oil prices but the meteoric rise in the value of the dollar is already causing a drag on exports and the economy.

Global Equity Markets
Last year, we talked about the drag a strong U.S. dollar had on international equity investments when reported in U.S. Dollars. In the bottom half of the slide, you’ll see a striking difference in performance of each country’s equity index when shown in the “local” currency versus U.S. Dollars. In just the first quarter of 2015, the German DAX 30 Index gained 22% but, as a result of the weaker euro, it gained just 8.4% when measured in U.S. Dollars. Big exporting firms outside the U.S. are benefiting from the U.S. dollar strength as well as low oil prices for heavy users of energy.

Manufacturing Momentum
The Purchasing Managers Index (Manufacturing PMI) is used as an indicator to compare manufacturing momentum internationally. There are a handful of countries that are still weak but, in aggregate, the global growth is noticeable and strong. The U.S., U.K., Ireland, and Mexico stand out as the strongest while Russia, Brazil, Indonesia, and Australia are losing momentum.

Conclusion
With offsetting factors dominating the forecasts for GDP growth, it is no surprise that the minutes from the Federal Reserve Open Market Committee show a divergence of opinions on whether a rate hike would be warranted as early as the June meeting or delayed until September. As usual, we recommend a balanced portfolio with a risk profile suitable for each investor’s tolerance. Loss aversion continues to weigh heavily in portfolio construction.

White House Memo: A Moment of Opportunity for Fiduciaries to Retirement Plans

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Famous showdown between "Fast Eddie" Felson and “Minnesota Fats” in the iconic American film, The Hustler
Showdown between “Fast Eddie” Felson and “Minnesota Fats” in the iconic American film, The Hustler

If you think we’re letting go of the “fumbling children” reference made by FSI chairman Adam Antoniades, you have another thing coming. He reminds me of the proud “Minnesota Fats” character in the classic film The Hustler— he doesn’t want to recognize the truth and talent of the situation he’s faced with by “Fast Eddie” Felson (Paul Newman), because it means that his reign as best player has ended.

Mr Antoniades goes so far to call the leaked White House Memo from January 13 simplistic, though it refers to more PhD studies than his fumbling response could even spell, so he’ll have to try and respond again.

[Read more…] about White House Memo: A Moment of Opportunity for Fiduciaries to Retirement Plans

Declaration of Independence

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“Can you be more specific?”

Embarrassing, but true: the retirement industry is asking that of the US government.

The definition of a Fiduciary needs to be more specific because of cases where Plan Sponsors are legally charged unreasonable fees for a long time, but the Department of Labor’s interpretation is undesirable to Wall Street. Of course, Wall Street is on the receiving end of these unreasonable fees.

As an investment advisory firm who identifies in writing as a fiduciary to our clients, we uphold the interests of our client above those of any other interest, because we have no other interested parties. The unfortunate reason that other investment advisors will not agree to sign a fiduciary agreement with a client is because they are “promised” to a large company, who profits from a retirement plan through hidden fees.

While the Plan Sponsor is unaware of this other agreement, and often the Investment Advisor is not entirely upfront about this agreement with the Plan Sponsor’s representatives, it comes out in the end through hidden fees and a whole mess of ugly policies.

The sort of game run here should be illegal. Not because the Plan Sponsors are not careful, instead they often are smart and diligent, but because they are simply not protected by the law. Up to this point, the law is unclear. The Independent Advisor they supposedly hire is not, after all, independent according to a stricter definition now proposed by the Department of Labor, led by Phyllis Borzi.

Insist upon a clear definition of an independent advisor so that you know your advice comes for the interest of your retirement plan, and not for the interest of someone else’s quasi-legal activity. Sign the petition at http://www.thepetitionsite.com/414/401/760/tell-washington-to-stand-up-to-wall-street/

 

Michele L. Suriano, Accredited Investment Fiduciary™, is president of Castle Rock Investment Company, a woman-owned SEC registered investment advisory firm serving qualified retirement plans. www.CastleRockInvesting.com