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Boulder’s Impact Wealth Advisors named FIVE STAR Wealth Manager by 5280 Magazine & ColoradoBiz Magazine

Posted by Jerry Lewis on November 9, 2010 at 4:34pm

BOULDER – G. Anthony Harrigan and Ken Finkel, principals of Impact Wealth Advisors, Ltd. in Boulder (www.ImpactWealth.com), were awarded the FIVE STAR Wealth Manager title for 2010 by 5280 Magazine and ColoradoBiz Magazine in Denver.

The 2010 FIVE STAR Wealth Manager award is granted to an elite group, representing less than 4 percent of Denver area wealth managers. The award is based on how clients and financial services industry professionals evaluate their experience in working the individual wealth managers and not on the company’s sales volume.

Harrigan, a resident of Broomfield, and Finkel, who lives in Boulder, started their Boulder wealth management business in 2008 to offer holistic financial planning that focuses on a client’s life goals and aspirations, not just their investments.

As a local Boulder business, Impact Wealth Advisors is a strong believer in community partnering, and presents its own Impact Award to an area nonprofit each quarter.

A national research company under the direction of Crescendo Business Services conducted research for the FIVE STAR Wealth Manager list, published in the November issues of 5280 and
ColoradoBiz.

To be selected for the FIVE STAR award, survey recipients are asked to select wealth managers whom they knew through personal experience, and to evaluate them on nine criteria: customer service, integrity,
knowledge/expertise, communication, value for fee charged, meeting of financial objectives, post-sale-service, quality of recommendations and overall satisfaction.

About Impact Wealth Advisors Ltd.

Impact Wealth Advisors in Boulder, Colo. provides holistic wealth management planning that focuses first on clients’ life goals and aspirations to improve the chances of achieving the future they
envision. Impact Wealth offers objective and independent investment counsel on retirement, education, estate planning, insurance analysis, tax minimization, charitable giving, real estate, family legacy and wealth succession. Visit online at www.ImpactWealth.com.

eLearners.com Launches the National “Career Stimulus Package” from Denver, to Tackle Crisis of Undereducated, Underemployed Adult Americans

Posted by Erik Keith on June 10, 2009 at 10:40am

eLearners.com, a web resource of EducationDynamics, which has successfully connected learners to online education since 1999, announces the Denver launch of a new national program aimed at helping adults kick start their careers through education, entitled “Career Stimulus Package” (www.careerstimulus.com). The comprehensive career education program will offer undereducated, underemployed adults access to online education opportunities, including up to $4 million in full-tuition scholarships, and job shadowing programs at some of America’s most innovative companies. At the center of the campaign is a 40-city RV “Empowerment Tour” offering free career coaching services. The tour starts in Denver, Colorado on June 12, 2009 and concludes in Los Angeles on September 9, 2009. The goal of the Career Stimulus Package and Empowerment Tour is to help Americans improve their lives through higher education and career resources. The Denver Empowerment Tour will begin at 7:00 a.m. on June 12 at Skyline Park at 17th and Arapahoe in downtown Denver, with career coaching sessions, and conclude at 5:00 p.m. At the Denver launch event, a press conference will be held at 10:30 a.m. featuring Lt. Governor Barbara O’Brien. O’Brien will discuss the importance of higher education and Colorado initiatives aimed at improving adult education. “Colorado needs an educated workforce to move forward with the New Energy Economy, a robust aerospace industry, health care and many other growing segments of our economy,” said Colorado’s Lt. Governor Barbara O’Brien. “Colorado is one of the states best poised to rebound and now is a good time for non-traditional students to prepare themselves for the upswing.” Alyssa Ohleyer, a Project Working Mom recipient from Idaho Springs, will also speak at the press conference. Project Working Mom is the previous eLearners.com full-tuition scholarship campaign that received more than 400,000 applications during the eighteen month campaign. You can read Alyssa’s winning essay at http://tinyurl.com/Project-Working-Mom-Recipient. The Career Stimulus Package and Empowerment Tour is the voice designed to help adult Americans overcome the barriers of time, money and confidence in pursuing a college degree. The scholarships provided by the participating schools, and the scholarship funds raised during the tour, is one small but significant step in helping to alleviate the financial burden. By studying online, students can do class work from home, during their lunch hour at work, and at any time of day mitigating the obstacle of time. And through the comprehensive Career Stimulus Package efforts, adults can get the knowledge and information they need to feel confident about returning to school. “Everyone talks about the crisis in education, but nobody is focusing on the root cause —the lack of college educated adults in the U.S.,” explained Terrence Thomas, EVP Marketing Operations for eLearners.com. “Not only is the fact that more than 70% of Americans aged 25 and older not having a bachelor’s degree debilitating to the competitive status of our nation, but it’s adversely affecting future generations as these adults ultimately become parents and we need them to be education role models for America’s children.” The tour’s primary ambassador is Flavia Colgan, a passionate advocate for education over the past decade. She served as the first woman and youngest Chief of Staff in the country for Pennsylvania’s Lt. Governor Catherine Baker Knoll. And, most recently she has appeared as a correspondent and commentator on several national TV networks including CBS, MSNBC and FOX. "While the Career Stimulus Package and Empowerment Tour are a catalyst for discussion and change, they are certainly not enough," said Colgan. "Funding for non-traditional adult education must become an ongoing national priority. Half of the projected job growth in the United States over the next decade will require a college degree. To truly strengthen America's workforce, we need to equip adults to take on these jobs. If we can educate, we can empower and employ. It's the solution to America's current and future economic woes." The components of the Career Stimulus Package include: Full-Tuition Scholarships The Career Stimulus Package campaign will award full-tuition scholarships to adults who have applied through www.careerstimulus.com. The scholarships will let deserving adults attend an accredited online college or university tuition free. The total value of these scholarships, which range from the associate’s level to the Ph.D. level, is about $4 million. Participating schools providing the scholarships include: American Public University, Ashworth College, Bryant & Stratton College, Capella University, Ellis University, Everest University, Virginia College, and Western Governors University. To apply for a scholarship, applicants must submit a short application and essay describing their goals, why they want to go back to school and past instances of triumph over adversity. The participating schools will select the recipients. The deadline to apply for a scholarship is October 31. Job Shadowing The individuals selected to receive scholarships will also receive a one-week, paid job shadowing opportunity with one of the Career Stimulus Package participating companies, including: CareerBuilder.com, Dictionary.com, ZipRealty, Entrepreneur Magazine, eLance, EducationDynamics, Habitat for Humanity, spud! and Orbitek, LLC. This job shadowing opportunity will provide scholarship recipients the chance to learn more about the industries they have interest in and will also provide the opportunity to network with professionals. The Tour The “Empowerment Tour: Educate. Empower. Employ.” Will travel to approximately 40 cities across the country by RV. The tour will launch in Denver on June 12 and conclude in Los Angeles on September 9. The tour will offer free career laser coaching sessions to help Americans discover what is holding them back and the strategies needed to move toward success. The two participating career coaches are Denver residents. Michael Cushman is the immediate-past president of the Denver Coach Federation and Ayn Fox is a certified Master Coach by the International Coach Federation. Both Cushman and Fox will be available from 7:00 a.m. to 5:00 p.m. at each tour stop. Reservations are being accepted online for Michael Cushman at www.empowermenttour.com; reservations for Ayn Fox will be accepted on location. In addition to free career coaching sessions, each Empowerment Tour stop will feature an Education Station where people can apply for a full-tuition scholarship. The Empowerment Tour will also include Donation Stations at each stop where people can donate old suits and other interview appropriate attire. Each tour stop will also include complimentary snacks and drinks throughout the day. For more information on the Career Stimulus Package, The Empowerment Tour and the full-tuition scholarships and job shadowing opportunities, visit www.careerstimulus.com. For additional information on the Empowerment Tour, including dates and locations go to www.empowermenttour.com.

White Paper from Gravity Investments Challenges the Efficient Frontier

Posted by Crystal Thomas on October 1, 2009 at 11:25pm

Firm’s Research Concludes That Optimizing for Diversification Outperforms Traditional Risk ApproachGravity Investments (Gravity), a premier financial engineering firm responsible for the Gsphere visual asset allocation platform, today issued a paper on portfolio optimization and the comparative value of optimizing specifically for diversification.The paper, entitled How True Diversification™ Preserves Capital, concluded that optimizing portfolios for diversification provides a positive impact to bear market returns at entirely no cost to bull market returns, resulting in dramatically better performance across a full market cycle. Diversification, not risk, is thus warranted according to Gravity as the focus of portfolio optimization for asset allocation.“We’ve known for some time that True Diversification is a primary enabler of achieving higher returns,” said James Damschroder, Founder of Gravity Investments and the firm’s chief financial engineer. “Now we know precisely why. With True Diversification, there really is such a thing as a free lunch.”Gravity conducted research on 95 actual Registered Investment Advisor portfolios in place between the years 2002 and 2009. The firm examined the portfolios across three time periods--bull market, bear market, and the full cycle, grading each portfolio--using Gravity’s proprietary diversification measurement.IPC, Gravity’s patented measurement of diversification, produces the weighted average of all unique correlations in a portfolio and provides a measurement of diversification specifically tuned to systematic risk. Gravity calls this advancement in the science of diversification measurement and optimization “True Diversification”.The results of Gravity’s research indicated that every extra percent of IPC was responsible for protecting 98 basis points of capital in a down market. By comparison, similar changes in standard deviation showed a much weaker relationship to returns in both bull and bear markets.“Based on these results, it’s reasonable to infer that the traditional practice of using a Markowitz efficient frontier as a menu of portfolios may be of dubious merit,” says Damschroder. “It’s hard to argue the logic of True Diversification when it protects capital in down markets without sacrificing gains in up markets.”Gravity’s innovative approach to portfolio construction will benefit virtually every sponsor of investment product, including broker/dealers, RIAs, insurance companies, mutual fund companies, hedge funds, pension plans, bank trust groups, 401(k) providers, fund consultants, family offices, foundations, and endowments.

Grail Advisors to Launch Industry’s First Single Manager ETFS Using Traditional Active Management

Posted by Erik Keith on June 9, 2009 at 4:50pm

Grail Advisors, a leader in the development and distribution of active Exchange Traded Funds (ETFs), today announced the registration of four new actively-managed ETFs--RP Growth ETF, RP Focused Large Cap Growth ETF, RP Technology ETF, and RP Financials ETF. The new offerings represent the industry’s first traditional actively-managed ETFs using a single-manager approach. New York-based RiverPark Advisors, LLC (RiverPark) will serve as the primary sub-adviser for each of the funds. Wedgewood Partners, Inc., of St. Louis will also serve as sub-adviser to the RP Focused Large Cap Growth ETF. “One of our goals from the outset was to bring traditional, active fund managers to the ETF marketplace,” said William M. Thomas, CEO of Grail Advisors LLC. “With these four new RiverPark offerings, that day has come, and it’s come a lot sooner than even the most enthusiastic proponent of the ETF structure could have imagined.” Grail unveiled the market’s first true, actively-managed equity ETF last month—the Grail American Beacon Large Cap Value ETF—and will follow up this summer with the Grail American Beacon International Equity ETF, the first international ETF of its kind. Those funds were designed to incorporate the traditional investment management approach and a multi-manager format into an active ETF structure. The single-manager RiverPark funds will take active ETFs a step further. The funds will be designed to combine all the benefits of an ETF structure—lower costs, tax efficiency, transparency of holdings, and intra-day trading—with actively-managed strategies from a veteran asset management team. RiverPark will provide day-to-day portfolio management services to RP Growth ETF, RP Technology ETF, and RP Financials ETF, and, in conjunction with Grail, oversee the day-to-day portfolio management services provided by Wedgewood to RP Focused Large Cap Growth. RiverPark was founded in 2006 by Morty Schaja, CFA, who serves as the firm’s Chief Executive Officer, and Mitchell Rubin, CFA, who is the Chief Investment Officer. All of RiverPark’s principals, including Mr. Schaja, Mr. Rubin, and portfolio manager Conrad van Tienhoven, came to the firm from Baron Funds. RiverPark has assembled a prestigious group of outside advisors to support the senior team in the management of the funds. David A. Rolfe, CFA, will be the portfolio manager of RP Focused Large Cap Growth ETF. Mr. Rolfe is the Chief Investment Officer of Wedgewood, and together with Anthony L. Guerrerio, the firm’s CEO and founder, has worked on various large-cap growth strategies for the firm since its inception in 1992. Each of the funds’ managers will have the discretion on a daily basis to choose securities for the ETF’s portfolio consistent with the ETF’s investment objective. Unlike index-based ETFs that seek to replicate the holdings of a specified index, each of the new Grail ETFs will use an actively-managed investment strategy to meet its investment objective. All four of the funds’ holdings will be fully disclosed on a daily basis. “We fully embrace the movement toward full transparency, continuous liquidity, and a low-cost fee structure,” said Mr. Schaja from RiverPark Advisors. “In today’s environment, investors are demanding a superior vehicle in which to make their investments without having to sacrifice access to world-class portfolio management. We’re thrilled to be on the cutting edge of this evolution with Grail.” Trading for shares the new ETFs is expected to begin September 1 on the NYSE Arca, Inc. The new funds will represent the latest in what is anticipated to be a series of offerings of the Grail Advisors ETF Trust. The San Francisco-based firm intends to make the benefits of ETFs available to the large pool of investors who currently select traditional mutual funds or other vehicles to access active portfolio management. Mr. Thomas says Grail Advisors is currently in discussions with a number of leading financial institutions and asset managers and expects to launch more customized, actively-managed ETFs this year.

SRI in the Rockies Conference to Celebrate 20 Years

Posted by Erik Keith on June 1, 2009 at 5:04pm

SRI in the Rockies, the largest and longest-running sustainable and responsible investing conference in the world, will mark its 20th year and highlight growing opportunities for investors who embrace innovative investment strategies targeted on environmental, social, and governance factors. More than 650 attendees from the U.S. and around the world are expected to gather October 25–28, 2009 at the JW Marriott Starr Pass Resort & Spa in Tucson, Arizona. The 20th Anniversary SRI in the Rockies Conference. From Crisis to Opportunity: Investing for a Sustainable Economy, will be presented by First Affirmative Financial Network in collaboration with the Social Investment Forum. “Sustainable and responsible investing is moving rapidly to the forefront of investment strategy,” said Steve Schueth, President of First Affirmative. “This year’s conference has a particular responsibility to highlight how we all can play a crucial role in finding real market solutions to the world’s environmental and social problems and make money in the process.” The 2009 conference list of speakers include: James K. Galbraith, PhD, the Lloyd M. Bentsen chair in Government and Business Relations and professor of Economics at the LBJ School of Public Affairs at the University of Texas at Austin; Mindy S. Lubber, president of Ceres, the leading U.S. coalition of investors and environmental leaders working to improve corporate environmental, social, and governance practices; Auden Schendler, executive director of Sustainability at Aspen Skiing Company; and Andy Serwer, managing editor of FORTUNE magazine. Visit SRI in the Rockies (http://www.sriintherockies.com) to access speaker photos and bios. Lisa Woll, CEO of the Social Investment Forum, said: “The 20th anniversary of SRI in the Rockies occurs in a year in which there already have been significant steps forward in the national commitment to advancing policies that support good governance, transparency, and concerted attention on environmental and social issues within businesses and financial institutions. With national attention on addressing the financial crisis and regulatory frameworks, dealing with climate change and creating a clean, green economy, and looking at broad social and governance issues including executive compensation and mortgage and credit card reform, we believe that more individual and institutional investors will become socially responsible investors.” As the premier industry event, SRI in the Rockies attracts a wide range of investment professionals—from financial advisors to institutional investors and mutual fund companies, as well as social research and proxy voting organizations. Members of religious organizations and social change non-profits, and officers from community development banks, credit unions, and related organizations also will be in attendance. “Given the growing global awareness of investing for a more sustainable future, this year’s conference is all about identifying opportunities that are presenting themselves at this important juncture in the history of investing,” said Schueth. The 2009 conference will benefit from the support of leaders in the SRI industry including Calvert, a mutual fund company that for 30 years has been offering the nation's largest array of sustainable and responsible mutual funds. Calvert is unique among sponsoring organizations in that it has been a supporter of all 20 SRI in the Rockies conferences. For a full list of sponsoring organizations, visit http://www.sriintherockies.com/sponsors.jsp.

First Affirmative Announces “BaseCamp SRI” Conference Series for Financial Advisors Who Work with Socially Conscious Investors

Posted by Erik Keith on March 10, 2009 at 11:41am

First Affirmative Financial Network, a leading provider of investment management and consulting services to financial advisors and their socially conscious clients, is rolling out a new regional conference series designed to help investment advisors and financial planners accelerate the move to socially responsible investing (SRI).Each BaseCamp SRI is a one-day event specifically designed for investment professionals seeking to help their clients direct investment capital in ways that are positive, healthy, and transformative.The five-city series starts in Denver on March 26, 2009 with subsequent stops in Portland (April 28), New York, (May 18), San Francisco (June 4), and Seattle (July 9). There is no charge for qualified advisors to attend a BaseCamp and lunch will be served. For more information and to register, go to http://basecampsri.firstaffirmative.com.“Like a mountaineering base camp, BaseCamp SRI is designed to help an advisor make it to the top,” said First Affirmative President Steve Schueth. “The sustainable and responsible investing landscape is an exciting one, and each BaseCamp will be packed with good, timely information presented by experts and peers.”As the producer of the annual SRI in the Rockies Conference, First Affirmative is uniquely positioned to assist in the professional growth of investment advisors who work with investor clients interested in green investing and integrating social responsibility or sustainability into the investment process. Each BaseCamp SRI will provide valuable skills and strategies investment advisors can implement immediately—practical information and tools to better serve the unique needs of socially conscious investor clients, including:• Creating an environment of trust conducive to meaningful conversations about the issues clients and prospects care deeply about.• Developing the confidence necessary to initiate conversations about combining social responsibility with investment performance.• Understanding the available resources, including investment products, social networks, discussion forums, Q&A listings, a network of local experts, and a community of peers.• Learning about critical and controversial global issues to help clients make informed choices.First Affirmative has focused on quality portfolio management for socially conscious investors since 1988. Says Schueth, “Whether you call it green, values-based, socially responsible, or sustainable investing, portfolio management should be prudent and rewarding for both investors and advisors. When it comes to investing, there’s no longer any reason to separate good fortune from good will.”MORE ABOUT FIRST AFFIRMATIVEFirst Affirmative Financial Network, LLC (www.FirstAffirmative.com) is an independent fee-only Registered Investment Advisor (SEC File #801-56587). The company manages over $500 million in client portfolios and offers consulting and asset management services through a nationwide network of investment professionals who specialize in serving socially conscious investors. First Affirmative produces the annual SRI in the Rockies Conference in collaboration with the non-profit Social Investment Forum. The 20th annual SRI in the Rockies Conference (www.SRIintheRockies.com) will be October 25–28, 2009 at the JW Marriott Starr Pass Resort & Spa, Tucson, Arizona.For more information about BaseCamp SRI, go to http://basecampsri.firstaffirmative.com or contact Danielle Burns at 877-542-8583 /danielleburns@firstaffirmative.com.

“Project Working Mom…and Dads, Too!” Helps Working Parents go Back to School Through More than $2 Million in Scholarships

Posted by Erik Keith on January 12, 2009 at 11:16am

Ann Marie always yearned for a college degree, but she had to put her dream on hold. She is a 25-year-old mother who works to support her two-year-old and seven-year-old step-daughter, while their dad has been deployed overseas. And in addition to caring for her own family, she also serves as power of attorney for her best friend’s young daughter while both parents serve in Iraq.“With my former husband being deployed on and off over the past two years, I’ve had to double up and be Mommy and Daddy all alone. School couldn’t be a factor when I was alone to raise my family,” said Ann Marie in her Project Working Mom essay.However, Ann Marie’s greatest wish was granted when she recently applied for, and won, a Project Working Mom scholarship to attend an online college for free. Although she currently works at a retail store as a part-time manager, she longs for a steady career, especially with today’s economic woes. Without a college degree, Ann Marie fears she is being passed over for positions for which she would otherwise be qualified; she fears she is simply not competitive in the job market.Thanks to the Project Working Mom scholarship, Ann Marie will now get her degree in accounting from Everest University at no cost to her. Online classes grant her the flexibility to attend school from home at any time of day, which frees her from childcare worries. She is home for her children when they need her, and she is now serving as a role model for her children.“My goal is to do my best so that my daughter can see that if Mommy can do well in school, so can she,” continued Ann Marie.Ann Marie’s story represents just one of 93 Project Working Mom scholarship recipient stories from across the country. Each recipient is a powerful example of sacrifice and determination as women seek to provide a better life for themselves and their children through education.Following two successful Project Working Mom outreach campaigns that awarded more than $4 million in scholarships to nearly 100 recipients, Project Working Mom rolled out a third campaign on January 8, 2009, which will wrap up on April 30, 2009. This round of the program introduced a new twist: Fathers are now eligible to win a scholarship, a request logged quite frequently during the previous campaigns. The participating schools for Project Working Mom…and Dads, Too! are Ashford University, Capella University, Everest University, Virginia College, and Ashworth College.“We launched Project Working Mom as a response to staggering statistics indicating that working moms are an underserved population that simply need to overcome the obstacles of time, money and confidence to achieve the education they need to improve their lives,” said Helen MacDermott, content director for Project Working Mom. “But in today’s economy, we realize there are plenty of dads who are also in desperate need of financial aid and deserve a chance to tell their stories, too.”According to the U.S. Census Bureau, of the 2.1 million single dads in the United States only 16 percent have a bachelor’s degree or higher. Although the total number of single moms in the United States is much larger, the percentage of moms with a bachelor’s degree is about the same; only 15 percent of single moms have a bachelor’s degree or higher.According to the federal government, the number of students applying for student aid is soaring. In the first six months of 2008, the total number of Free Applications for Federal Student Aid submitted was about 1.3 million more than the same period in 2007. Project Working Mom has also witnessed this tremendous demand for financial aid. The first two campaigns in 2008 generated more than 120,000 applications for a full-ride online college scholarship.eLearners.com, an online education resource that connects learners with online education, which created the Project Working Mom campaigns, also created a complementary, interactive, and in-depth web site to help learners tackle their questions and fears about returning to school. The site is designed to empower working parents and it offers: advice on going back to school; self-assessment quizzes on numerous subjects, including how to determine what subjects to study; an online support community; numerous articles; and a database with $15 billion in financial aid opportunities.Project Working Mom…and Dads, Too! helps to remove the barriers many people face when deciding whether to go back to school, including the hurdles of money, time, and confidence. The scholarships provided by the participating schools allow the recipients to go back to school at no cost, eliminating the huge financial aid burden. By studying online, students can do classwork from home, during their lunch hour at work, and at any time of day. The flexibility of online classes fits perfectly with the lives of busy parents. And through the comprehensive Project Working Mom web site, working parents can get the knowledge they need to feel confident about returning to school.“I don't have a lot of family members that have gone to school and certainly none that have received scholarships. To my family and me, this is better than winning the lottery,” continued Ann Marie. “This is my time to finish all the way to the end.”Moms and dads, to learn more about Project Working Mom…and Dads, Too! and to apply for a full-ride, online education scholarship visit www.ProjectWorkingMom.com.

Consumer’s Interest High at Community Banks

Posted by Erik Keith on December 22, 2008 at 2:30pm

It took $4 gasoline to get folks to think about their driving habits. Similarly, it looks like a meltdown of the megabanks and other financial institutions is prompting consumers to think about where they are putting their money, who they can trust and what results they should expect. And much of their hard earned cash is flowing into deposits at community banks:• According to the FDIC, banks with less than $10 billion in assets, community banks, have seen an increase in deposit growth this year from a minus 0.77% in Q1 to a positive 2.06% in Q3. Larger banks witnessed a 3.81% decline in growth of deposits for the same period.• The Federal Reserve reported that October deposits and lending at community banks outpaced the overall industry. Between October 1 and October 22, community banks saw deposits rise 1.1 percent, or nearly $27 billion, to more than $2.4 trillion. For the same period, the nation’s 30 largest U.S. chartered banks saw $44 billion, or 1.2 percent of deposits, walk out the door, leaving them with less than $3.8 trillion.• REWARDChecking, a free checking account offered by more than 450 community financial institutions across the country, reported a 96% jump in deposits in the third quarter of this year.“Through products like REWARDChecking, community financial institutions are winning back customers from the faltering megabanks and investment houses,” said Don Shafer, Chairman of BancVue, a leading provider of products and consulting to community banking institutions. “Americans are indicating that they enjoy investing their money locally, and they benefit from high yields, fiscal safety and customer service.”Higher yields on short term deposits like those found on CheckingFinder.com are certainly fueling interest in community banks. Month-to-month applications on CheckingFinder.com (https://www.checkingfinder.com/), a website that connects consumers with community financial institutions offering high-yield checking accounts, jumped 14% from July to August, 46% from August to September, and 53% from September to October. A small sampling of applicants on the site indicated nearly seven out of 10 were moving their funds to community financial institutions from large banks.Examples of the yields found at community banks compared to those higher yielding shorter term deposits at megabanks (as of December 15) includes:COMMUNITY BANKS YIELDS PRODUCTSCommunity Bank of Pleasant Hill, MO; 6.10%; High-yield CheckingFirst Robinson Bank, IL; 6.01%; High-yield CheckingLegence Bank, IL; 6.01%; High-yield CheckingCommunity Bank of Raymore, MO; 6.01%; High-yield CheckingThree Rivers FCU, IN; 6.01%; High-yield CheckingFlorida Central Credit Union, FL; 6.01%; High-yield CheckingUnion State Bank/Bank of Atchison, KS; 6.01%; High-yield CheckingBank of Granite, NC; 6.00%; High-yield CheckingMEGABANKSWAMU; 5.00%; CD (5 years)eLoan; 4.75%; CD (6 years)Schwab; 3.60%; CD (18 months)ING; 3.75%; CD (1 year)HSBC; 3.50%; CD (1 year)Countrywide (BofA); 3.10%; CD (9 months)eTRADE; 2.25%; CD (12 month)“Three years ago the issue of 'how secure is my money?' was literally not on the consumer’s radar; today, the future viability of the nation’s largest banks is,” continued Shafer. “Not so with community banking, a system that has endeared trust by its roots and not by its branches.”

Analysis Shows Megabanks Have 23,000 Times More Exposure to Credit Default Swaps than Community Banks

Posted by Erik Keith on March 25, 2009 at 3:57pm

Healthy Community Banks Unfairly Impacted and Consumers Should Heed Wake-Up CallAs the economic crisis puts a spotlight on the obscure world of credit default swaps (CDS), an unregulated $62 trillion market that most people never heard of and even fewer understood, the fear of a CDS catastrophe is haunting the country’s largest banks, and the nation’s healthy community institutions and consumers are paying the price.An analysis of FDIC data as of 12/2008 conducted by BancVue (www.bancvue.com), a leading provider of products and consulting to community banking institutions, shows that commercial banks $10 billion or larger have just over $24 worth of credit derivatives for each dollar of equity. By comparison, the rest of the industry has essentially one-tenth of a penny of CDS for each dollar of equity. Those numbers translate to the big banks having roughly 23,000 times as much credit derivative exposure versus all other community financial institutions.This comes at a time when megabanks are already reeling from write-downs on mortgage-related securities. "These are the same institutions that themselves have either directly or through subsidiaries invested in the subprime market," said Don Shafer, Chairman of BancVue. “After suffering losses all over the place, the megabanks are now waiting for the next shoe to drop. In the meantime, it’s placing an undue burden on healthy small banks and should serve as a wake-up call to consumers.”Since the mortgage-backed securities that many swaps were supporting began to lose value in 2007, investors have feared that the swaps, originally meant as a hedge against risk, could suddenly become huge liabilities. While the CDS marketplace is completely unregulated and the swaps trade without a central clearinghouse, it’s known that commercial banks are among the most active participants. According to the Comptroller of the Currency, JP Morgan Chase, Citibank, Bank of America, and Wachovia were ranked the top four most active players.In February, federal regulators facing a cascade of bank failures depleting the deposit insurance fund raised the fees paid by U.S. financial institutions. Although the FDIC intended on charging more from higher risk banks, they also suggested levying a hefty emergency premium in a bid to collect $27 billion this year. The higher premiums being assessed were originally set for 20 cents for every $100 of insured deposits levied equally on the 8,305 federally insured institutions. To put that in perspective, for a $250 million dollar community bank, the “one time tax” would constitute a $500,000 hit, which could wipe out 20% to 40% of a bank’s annual profits. At the Independent Community Banking Association Convention last week, FDIC Chairman Sheila Bair predicted that the assessment will probably be lower. She went on to say that the FDIC is seeking comments on whether the agency should use total assets or some other base for the special assessment, which would have consequences for how the burden is distributed.“How about basing part of the assessment on the amount of credit derivatives a bank holds compared to their equity?” continues Shafer, referencing BancVue’s research showing the extraordinary exposure to CDSs of the megabanks versus the community financial institutions. “If you are going to unfairly burden smaller banks that played by the rules, the least the FDIC can do is base the levy on the banks that helped trigger the crisis.”Even amidst this threat and turmoil among the megabanks, consumers are still trusting more than 70% of deposits in the U.S. to these large financial institutions. “Americans appear to be paralyzed in their banking relationship leaving so much of their hard earned cash in TARP and CDS-laden megabanks. It’s time for consumers to wake up and evaluate their banking options, particularly when community banks offer a less risky deposit alternative with better products and services,” concludes Shafer.

Consumers to Get Dave Ramsey Financial Advice With High Yield Checking

Posted by Erik Keith on March 20, 2009 at 2:23pm

With the economy and investment opportunities slimming, consumers are looking for alternative, safe avenues for storing their money other than their mattress. CheckingFinder.com, home to the highest yielding free checking accounts at community banks and credit unions across the nation, has announced a limited time offer of a trial membership to Dave Ramsey's MyTotalMoneyMakeover.com for every person who submits an application.In addition to the advice and tools from Dave Ramsey, a personal money management expert and best-selling author, consumers will find checking accounts yielding up to 5.15% APY and be able to open them within minutes on CheckingFinder.com."Dave Ramsey is renowned for offering life-changing financial advice on his nationally syndicated radio talk show and in his books, and we're proud to be able to offer his MyTotalMoneyMakeover.com, especially during these tough economic times," said Gabe Krajicek, Chief Executive Officer of BancVue, the company responsible for providing high-yield REWARDChecking® to community financial institutions and aggregating them with the help of marketing partner, FIRST ROI on CheckingFinder.com.CheckingFinder.com is an online search engine that helps consumers find free, high-interest checking accounts with no minimum balance from community financial institutions across the country. Consumers have the peace of mind knowing that all these accounts are insured through the FDIC, NCUA, or ASI. The advertised rates are not introductory teaser rates, there are no monthly fees or minimum balance requirements associated with the accounts, and ATM fees are refunded nationwide.Dave Ramsey's MyTotalMoneyMakeover.com is a subscription site helping people discover financial peace by walking them through Ramsey's 'baby step process' for dumping debt and building wealth. MyTotalMoneyMakeover.com is widely considered to be one of the best tools available to keep people motivated and accountable for their finances."Dave Ramsey has been a solid supporter of what we're doing at CheckingFinder™ and with the REWARDChecking accounts," said John Waupsh, Chief Executive Officer of FIRST ROI. "He truly understands what it means for money to work harder."For more information on these free, high-yield checking accounts at community financial institutions and the free trial offer to Dave Ramsey's MyTotalMoneyMakeover.com, visit http://www.checkingfinder.com.

Global Financial Crisis Takes Center Stage at Socially Responsible Investment Industry Conference

Posted by Erik Keith on October 21, 2008 at 10:35am

Socially responsible investment industry leaders will focus considerable attention on the global financial crisis at the 19th annual SRI in the Rockies Conference October 26-28, 2008.A record 720 participants are expected to converge on The Fairmont Chateau Whistler, in Whistler, British Columbia. Several of the scheduled conference sessions will feature experts discussing how socially conscious investors can help to reshape the future of the global financial system around the principles of transparency, fairness, good governance, and long-term thinking, including:• A CEO Roundtable on Industry Trends;• A Banking Sector panel focused on Sustainable Global Finance;• A session on Philanthropy and Mission-Related Investing;• An expert panel on the Sub-Prime Mortgage Situation;• A roundtable discussion with International SRI Industry Leaders;• A discussion about how wise management of environmental, social, and governance (ESG) issues can reduce risk and position companies to excel over the long term; and• A Special Session that will focus specifically on the global financial crisis.“This is a unique opportunity for SRI leaders to strategize on integrating the principles of socially and environmentally responsible investing – such as responsible corporate governance – into the nation’s financial infrastructure moving forward,” said Lisa Woll, Chief Executive Officer of the Social Investment Forum (SIF).SRI in the Rockies, a collaboration between First Affirmative Financial Network and the Social Investment Forum, is the premier annual conference for the sustainable and responsible investment (SRI) industry in North America.“The financial crisis has put a spotlight on some of the worst practices on Wall Street, many of which socially conscious investors have worked to remedy over the years,” said George R. Gay, CEO of First Affirmative Financial Network and a Director of the Social Investment Forum. “We believe that a more socially responsible approach to investing can—and should—play a role in helping to transform the investing world.”SRI in the Rockies takes place against the backdrop of an industry that continues to expand rapidly. According to the SIF’s “2007 Trends Report,” nearly one out of every nine dollars under professional management in the U.S. in 2007 was involved in SRI. From 2005-2007, SRI assets increased more than 18 percent while the broader universe of professionally managed assets expanded less than 3 percent.

SRI in the Rockies to Honor Community Investors

Posted by Erik Keith on October 8, 2008 at 2:46pm

Investors who earmark at least one percent of their capital for community investment will be honored at the 2008 SRI in the Rockies Conference, the premier annual conference for the sustainable and responsible investment (SRI) industry in North America.“Community investing, a core SRI strategy, has successfully served the same populations currently reeling from bad loans made by predatory lenders,” said Lisa Woll, chief executive officer of the Social Investment Forum (SIF). “Continuing to expand the pool of funds available for community investing is more important now than ever before.”SRI in the Rockies is collaboration between the Social Investment Forum and First Affirmative Financial Network. More than 700 participants are expected to gather in Whistler, British Columbia, Canada, October 26–28, 2008 for the 19th annual SRI in the Rockies Conference.Community investors’ direct capital to communities underserved by traditional financial services, providing access to credit, equity, capital and basic banking products that economically distressed communities and lower-income borrowers otherwise would not have.Community investing is the fastest growing component of SRI. Investment in the field has increased from $5.4 billion in 1999 to more than $25 billion in 2007. The goal of the “1% or More in Community Campaign” is for SIF members to help push community investment in the United States to $30 billion by 2010."The ‘1% or More for Community Campaign’ has the potential to impact wide-scale investor action across the investment community, positively impacting the economically disadvantaged communities of the hurricane-torn gulf coast, other low-income communities across the United States, and in developing countries around the world," said William Bynum, executive director, Enterprise Corporation of the Delta.SIF and Co-op America co-founded the “1% or More in Community Campaign” in 2001 to advance community investing among Social Investment Forum members by encouraging them to shift one percent or more of their investment dollars into community investing, thus making financing available to economically distressed communities and lower income families.SIF members who have met the campaign challenge will be honored during a breakfast at SRI in the Rockies on October 27th. More information about the Social Investment Forum along with a current list of SIF members who have achieved the “1% or More in Community Investing Campaign” goal is available at www.communityinvest.org.

Personal Financial Stimulus Package

Posted by Erik Keith on March 12, 2009 at 10:47am

As Personal Savings Rise to 5%, Consumers Could be Making Up to 6% APRAccording to the U.S. Commerce Department on Wednesday, the personal savings rate surged to 5% in January. As consumers frantically try to save their money as the economic outlook continues to look bleak throughout much of the country, they could be making up to 6% APR on their checking account.A “personal financial stimulus package” starts with the basics—your banking relationship. Community banks are still offering the best interest rates on free checking accounts:Florida Central Credit Union 6.01First Robinson Savings Bank 6.01Communications Federal Credit Union 5.25Connexus Credit Union 5.15Community Bank of Pleasant Hill 5.01Three Rivers FCU 5.01Union State Bank/Bank of Atchison 5.01Beacon Federal Credit Union 4.51In over 4000 community financial institution branches across the country, consumers are receiving from 3% to 6% interest rates on free checking with no minimum balance and reimbursed ATM fees. And these are NOT teaser rates.With a history of delivering value and customer-centric service, selected community banks and credit unions are offering free checking accounts with CD-like yields. The bank or credit union realizes operational savings when account holders accept eStatements, utilize direct deposit, access online banking, and increase their debit card usage and returns it to the consumer in the form of higher yields.To help consumers find community banks and credit unions with high-yield checking accounts, www.checkingfinder.com was created.

David Brancaccio, Stephen Lewis and Barbara J. Krumsiek Lead Speaker Line-up at 19th Annual SRI in the Rockies Conference

Posted by Erik Keith on September 24, 2008 at 2:00pm

Award-winning veteran journalist David Brancaccio, Stephen Lewis, Former Canadian Ambassador to the United Nations and Barbara J. Krumsiek, Chair, CEO, and President of Calvert Group, Ltd. are among a powerful group of speakers and topics slated for the 19th annual SRI in the Rockies Conference, October 26–29, 2008.Mr. Brancaccio, host of the PBS news magazine NOW and author of Squandering Aimlessly; will moderate a roundtable on industry trends at SRI in the Rockies, which will be held at The Fairmont Chateau Whistler in the stunning Canadian Rockies in Whistler, British Columbia. This year’s meeting is expected to draw a record 700 sustainable and responsible investment (SRI) industry practitioners and professionals from related fields in the United States, Canada, and around the world—the largest gathering in the conference’s 19-year history.The 2008 conference theme is Beyond Borders: Investing & Partnering for a Sustainable World. Sessions will focus on sustainable finance and investing, ramifications of the credit crisis, business ethics and transparency, new trends in shareholder activism, climate change, various emerging issues and industries like clean tech, the latest on community investing, and a host of other topics.In addition to Mr. Brancaccio, plenary speakers include:• Doug Bauer, Senior Vice President , Rockefeller Philanthropy Advisors• Melissa Brown, former Executive Director, Association of Sustainable and Responsible Investment in Asia (ASrIA)• Timothy "Scott" Case, Technologist, Entrepreneur, Inventor: Co-Founder, priceline.com• Michelle Chan, Program Manager, Green Investments Project, Friends of the Earth; President of BankTrack• Dave Chen, Venture Capitalist; Chairman of the Oregon Innovation Council• Matt Christensen, Executive Director, European Social Investment Forum• Eugene Ellmen, Executive Director, Social Investment Organization, Canada• Sarah Forrest, Executive Director, Goldman Sachs Sustain, London• Reynold Hert, President, CEO and Director, Western Forest Products Inc.• Jennifer James, Urban Cultural Anthropologist• Michael Jantzi, President and Founder, Jantzi Research• Barbara J. Krumsiek, Chair, CEO, and President of Calvert Group, Ltd.• Valerie Langer, Director, BC Coast Campaigns, ForestEthics• Kenneth G. Lay, Vice President and Treasurer, The World Bank• Stephen Lewis, Former Canadian Ambassador to the United Nations• Ross McMillan, President and CEO, Tides Canada Foundation• Ken Melamed, Mayor of the Resort Municipality of Whistler, BC• Sandra Odendahl, Chair, North American Task Force, UN Environment Programme Finance Initiative (UNEP FI)• Jack Robinson, Founder, Winslow Management Company• Richard Russell, Board President, The Russell Family Foundation• Art Sterritt, Executive Director of the Coastal First Nations• Lisa Woll, CEO of the Social Investment Forum (U.S.)SRI in the Rockies is a partnership between First Affirmative Financial Network and the non-profit Social Investment Forum (SIF). The conference attracts a wide range of investment professionals—from financial advisors to institutional investors and mutual fund companies—as well as social research and proxy voting organizations. Members of religious organizations and social change non-profits, and officers from community development banks, credit unions and related organizations also will be in attendance.

Note: this page contains paid content.

Note: this page contains paid content.

Note: this page contains paid content.