Sunday, February 8, 2009

Certified Financial Planner Glenn Downing

Trust in a time of uncertainty

Fiduciary- noun- a person who holds assets in trust for a beneficiary.

I had an appointment with a Certified Financial Planner. Representing a publication in Miami that provides news to a quarter million people in our South Florida Community each month, I was seeking to become up-to-date with how the recent events in our nation's economy were affecting South Florida's.
I had learned an acquaintance was a “financial professional”. I asked him for his number, and requested an interview. After checking his busy schedule, he agreed to meet with me at 9am on a chilly Tuesday morning . Finding myself on Alhambra Circle in Coral Gables, sitting in my car, looking up at the Monolithic SunTrust building, I felt, well, intimidated.
Financial advice? I had what the comedian known as Father Guido Sarducci referred to in a routine known as “the One Minute University Finance Degree”. In the skit, the comedian joked that he could give someone a degree in one minute by teaching them the equivalent of what a typical college graduate remembers ten years after graduating from a typical college. To earn a Degree in Business at his “One Minute University” all you needed to know was, “Supply and Demand”. To earn a degree in History, all one needed to know was when the war of 1812 occurred. To earn a degree in Finance, it was “Buy low, sell high”.

Fiduciary- noun- A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefit of the other person rather than for his or her own profit.

Having lived in and around New York City for the better part of 31 years, entering a skyscraper was a common event. As I entered the SunTrust edifice, it occurred to me that it had been at least twelve years since I had the experience. The seamless stone, metal, and tile lobby, with a central front desk in front of a bank of elevators was, again, intimidating.
Having ascertained that the company he represents in Miami - NL Financial Alliance - was on the fifth floor, I climbed aboard the lift, along with a deli delivery person, pressed “5”, and took a deep breath
Just as I stepped out of the elevator, the man I came to see was there to greet me. Glenn Downing is one of those fortunate individuals that will always look ten years younger than he really is. Tall and wide shouldered, he welcomed me with his warm smile. His large hand gave me a firm handshake. The dark eyebrows on his youthful face belie the silver hair which places him firmly in middle age.

Fiduciary- noun- The person who manages , for the benefit of others, investments. Legally obligated to protect the assets in the best interest of those for whom they act.

Downing asked me to follow him, greeted with a smile the receptionist who returned the favor to us both, and wound his way back to his office with me in tow. After offering a seat, he sat down, gave me his business card, and asked “What can I do to help”?
Glenn is also one of those fortunate people who look good in black. Dressed in pressed slacks, shined shoes, and a polo shirt sporting an embossed emblem, he leaned back in his chair. When I asked about the emblem, he told me that it was from the Financial Planning Association, a trade group of CFP® practitioners, licensees, and designees. The group holds its members to a code of ethics. Standards to be met by its representatives include those of Integrity, Objectivity, Competence, Fairness, Confidentiality, Professionalism, and Diligence (for more information, go to fpanet.org).
I asked Downing what the title beneath his name on his card, “Certified Financial PlannerTM” signified. He went on to explain that Certified Financial PlannerTM, or CFP® licensee, is the highest designation one can ascribe to in the Banking, Brokerage, and Insurance industries.
Equity Services Inc., the “clearing firm” name that appears as well on his card, is the company that conducts the transactions between Glenn, his loyal clients, and those who are referred to him.
A college degree is necessary to be considered for the licensing process. Glenn achieved a Masters in Business Administration or, MBA, from the University of Connecticut (UConn).

Fiduciary- noun- One who is entrusted with duties on behalf of another. The law requires the highest level of good faith, loyalty and diligence of a fiduciary, higher than the common duty of care that we all owe one another as human beings

He explained to me that he chose to be the kind of CFP® designee that would require his obtaining what is known as a “Series 7” license (a license a stockbroker requires). He was quick to point out that some CFP® practitioners offer “advice only” services and for them, a Series 7 license is not required.
His University credentials, years of professional experience, and hours and hours of study, led him to take a two day, 10 hour course. Over 45% of the professionals who qualify up to that point, still fail this last accreditation process. Downing passed with his first try.
A visit to the cfp.com website, will tell you that the mission of Certified Financial PlannerTM Board of Standards, Inc. is to benefit the public by granting the CFP® practitioners certification and upholding it as the recognized standard of excellence for personal financial planning.

fiduciary- adjective- The relationship of trust, honesty and confidence between agent and principal; the faithful relationship owed by an agent to the principal.

When I asked if he was an agent, Downing shook his head, said no, then took the time to explain the differences. An agent, I was told, represents companies who develop financial products, then sells them for a commission. A CFP® licensee represents the client, acting as a broker between the client, and the Clearing Firm that does the transaction, who also acts as the regulatory authority.
But the real difference between a CFP® designee and an agent, Glenn told me, is the nature of the relationship with the client. That relationship is described as fiduciary, small f, an adjective. Fiduciary with a capital F, noun, is reserved for those whose titles are traditionally that of Warden, Trustee, Executor and Guardian. He further explained that because of the fiduciary nature of the relationship between the CFP® practitioner and his or her client, the designation carries with it the absolute highest level of customer care.
All transactions having to do with securities or insurance have to meet a standard known as the principal of “suitablility”. Downing applies this standard of suitability to his clients investments by matching the products that he helps them own to their “investment goal horizon”. Unlike a mere agent, the CFP® licensees motives and advice - as well as their application of the “suitablility” standard to the transactions they conduct - comes under the scrutiny of both the Clearing Firm, in Downing’s case, Equity Services Inc., as well as Financial Industry Regulatory Authority, or FINRA.
And it must meet the definition of fiduciary.
For example, Glenn, as a CFP® designee strictly practices the principal of Confidentiality. Let’s say a friend of his wife Joyce became a client. Due to the fiduciary nature of his professional status as a CFP® practitioner he is unable even so much as to suggest that they are “doing good”.

Fiduciary- adjective- A relationship which implies a position of trust or confidence wherein one is usually entrusted to hold or manage property or money for another.

As our time together was winding down, I asked “how business was” since the economic downturn. He explained that he was not affected by the financial crisis, because his CFP® practitioner services did not change. The clients who use them have not changed their investment model, one that stresses income diversity.
This much I can say about Glenn Downing. One of the finest people I know, whose character and comportment are above reproach, a person of whom I consider to be the best kind of person on this planet, trusts Glenn Downing, designated as a Certified Financial PlannerTM.
After meeting with him in his office, my feeling of intimidation was replaced by that of confidence.
And trust.
That is why he has earned, not only the respect and admiration of the business community in South Florida, and the confidence of his clientele, but also the Highest Industry Designation of CFP® practitioner.
But the highest title Glenn Downing has earned is that which describes his relationship to the many valued clients and their families that he serves, fiduciary.
No more is needed to say.

fiduciary- adjective, definition, trustworthy, synonymous with credible, authentic, reliable, tried

To contact Glenn Downing, email downing_glenn@nlvmail.com

Monday, January 19, 2009

THE WORLD SPORT, IN AMERICAS WORLD CITY, WITH NEW WORLD SPORTS AS HOST

Friday, 12 noon, April 10th, 2009. American Airlines Arena, “The Triple A” is filled to the rafters. It is The “Path to Miami” Final Four. Arena rock can barely be heard over the crowd noise. Black and gold face painted fans are shouting at a man garbed in red and white with a crown and scepter, making fun of his country accent. Today is the day that his team will be dethroned, they assure him. He shouts back suggestions as to how they can return to the big city their squad is from when his club destroys them. They all break into laughter. Those fans sporting orange and those in light blue impatiently wait for their teams to play five hours later.
Looking down from above, are the luxury boxes. Filled by hundreds of Corporate Sponsors whose generous contributions are now paying off with worldwide television exposure. Their companies displayed with patches on the teams warm ups and on the multitude of giant screens in the arena. Streamers with their company logos, names of luxury hotels, worldwide travel agencies, airlines and organizations now wave alongside banners of the Miami Heat’s 2006 NBA championship and the retired numbers of Dan Marino and Michael Jordan. Owners of major sports franchises, dot com millionaires, charitable foundation founders, publishers of major newspapers, they are all here, their families and friends as well.
It is about to begin.
On the court, the players warm up, the sound of their squeaking shoes, the pounding of the bouncing balls just before they “whoosh” into the net. Being human, they are of course nervous. They are smiling and frowning, talking then listening. Now they stretch, then they stand still. Trying to remember to breathe, then breathing. Mostly they sigh. Gazing over the ropes of camera wires draped along center court, separating them, for now, from their opponents, who gaze back at them. In their eyes, the mixture of the hope of winning, and the fear of losing.
The sportscasters in their thousand dollar suits, and 500 dollar haircuts, are talking, talking, talking. Their words trying to describe to the millions watching in homes and at work , restaurants, bars and pubs, their version of the journeys the four teams have made on the road to this “Path to Miami”. The difficulties, trials and tribulations overcome in the process. They guess at the secret strategies, offensively and defensively that must be played out if either team is to be called National Champions.
Impatient, the coaches are eager to begin the game, knowing that their players families, sitting courtside for this special event, are vying for their attention as they are. The player’s parents and grandparents, brothers and sisters, girlfriends, and in some cases, wives and children who made the trip find themselves mingling courtside with celebrities, mayors, politicians, actors. NBA Players with World Cup Soccer stars. European royalty and Olympic Gold Medalists are interspersed with supermodels and other various Miami, New York and Hollywood glitterati. Corporate CEO’s huddle in corners with Presidents of the European, Pan American and International Federations and Governing bodies of this, the Worlds most popular Indoor Sport.
Paying special attention to this gathering is the President of the organizing committee of the London 2012 Olympics getting a preview of how to stage this event in a country not known for this sport.
All of these people mentioned are the first wave of an estimated National viewership of 120 million. That number being itself just a ripple in a worldwide viewing audience that , for a recent world championship tournament, numbered not just in the hundreds of millions, but crossing over into the 1.2 billion range.
Reporters from every national network and newspaper have had this date crossed off months ago, like the teams did, as soon as they were aware of The Path to Miami. For them it is a working vacation. Arriving days early, and leaving days after the Tournament is finished, their wallets lighter from the world class South Beach Hotels, three and four star restaurants, and invitation only nightclubs. Their faces show the effects of the warm spring Miami sun, and the cooling southeast wind, up from the Caribbean.
They are writing and talking and typing and speaking into an array of electronic devices that wirelessly transmit –worldwide- their words into zeros and ones and back into words that will dance electronically on screens and eventually in ink on paper. They are trying to depict to millions what only the twenty thousand attending can possibly know and experience.
That for this weekend, those whose passion and love for the World game that is this globes most popular winter indoor sport, second to none in terms in numbers of teams, participants, viewers and popularity, there is only one place to be, one event to witness, one thing to watch and read about.
The LNH Coupe De La Ligue French Professional Club Team Handball Final Four in Miami FL. USA.
I will state that again. The above describes, not an American sporting event, it is:
The LNH Coupe De La Ligue French Professional Club Team Handball Final Four in Miami FL. USA.
The sport is not NCAA Basketball, it is Team Handball, an Olympic Sport since 1932.
Team Handball, variations of which, sports historians tell us,can be called the first team sport, played thousands of years ago in Europe, Asia, and some think, Central America by the Aztecs.
The teams are not the Duke Blue Devils, Kentucky Wildcats, UCLA Bruins or North Carolina Tarheels.
They are Paris Handball, Montpellier Agglomeration, Istres Quest Province and Chambery Savioe Handball.
Everything else is the same.
Everything. Surprised? Don’t be.
Just as in World Cup Soccer, Americans have generally been unaware of this sports growth and popularity. South Florida Sports fans will not want to miss out on this event.
Never heard of it? Here are the facts.
There is no overall faster sport in the world. No athletes are required to run faster, jump higher, or throw harder. The skills needed to execute plays, strategies and scoring are all combined and its premier players therefore can lay claim to title of best overall athletes.
The conditioning that is required is more demanding than that of Soccer and Basketball. The physical contact, jostling and back and forth with opposing players – often while running and jumping at full speed - rivals at times, the line of scrimmage in American Football. . And oh yes, any padding or protective equipment such as masks, helmets, goggles are banned at the Olympic and professional levels.
Just so you don’t envision broken nosed rugby players head butting each other, let me assure you that the ballet like skills used in scoring and advancing and handling the ball are the equal of any sport.
Imagine the following scenario.
With one player, the goalie, protecting the striped ten foot wide goal and net, high enough for a man six foot eight to walk under, six men advance on the opponents six and goalie. An 7.5 inch diameter, one pound ball (compared to a 9.5 inch, 1 lb six ounce men’s basketball) is skillfully and artfully passed and thrown, caught and dribbled on a 2;1 ratio rectangle 130 ft. long, divided evenly into two 65 by 65 ft. squares. It is about one and a half times longer and a third wider than a basketball court.
The players range in size from the pocket rocket MLB MVP Dustin Pedroia, up to NBA All Star and Olympian, Dwight Howard. Size, however, while helpful, is not paramount. Speed kills in this sport, but intelligence in executing tactics born from years of play and effective drilling and coaching will win out over pure athletic prowess.
The goalie is limited in range to an area 13 ft from the front of the goal, while the offensive players with the ball may not go nearer than 20 feet to the goal. Free Throws are awarded for a number of violations or fouls, and in the more serious violations, pit the goalie and the thrower one-on-one from an arc 23 feet away, (compare this to the 22 ft “top of the key” in basketball). The ball can be thrown directly or caromed off the floor into the goal for a point. As in tennis and volleyball, a well timed, slow motion lob over or under the goalie when he is expecting a full speed throw will often result in a goal.
New viewers of the sport keep in mind that the fast pace due to the 3 seconds, 3 step rule. No player may hold the ball for longer than three seconds or take more than three steps before passing or throwing. Bouncing the ball, or dribbling, breaks up the second and step count. Not aggressively advancing the ball forward, not throwing at the goal in a scoring attempt, or not passing to teammates to set them up to throw at the goal in a scoring attempt, as well as tactics by the team ahead in the score to “kill the clock” is called "Passive Play" and is penalized.
Look at it this way.
Nolan Ryan is standing 23 feet away from the ten foot wide, six foot eight inch tall netted goal opening with easily recognizable striped two inch crossbars. A player with the shot blocking skills of a Marcus Camby stands ten feet away. Ryan fakes once, twice, then rifles the ball toward Camby’s left side. The throw is blocked successfully, but no stoppage of play occurs, Camby then uses the Gold Glove skills of an Ichiro Suzuki to collect the ball, who then has to become Peyton Manning, gun the ball the length of a basketball court to Randy Moss, hitting him while he is running full speed. He catches the ball, bounces it with the skill of a Chris Paul to elude a defender with the skills of a Steve Nash, takes three steps. leaps in the air just before the 20 ft. arc line restricted area, transforming into Dwyane Wade who whips the ball with the arm strength of a Johann Santana. Get it? Got it? Good.
Even the half court game is fast. Players attack in what is known as first wave, second wave, and third wave. If by then an attempt at scoring is not made the ball is returned to the backcourt.
The centerback (think point guard in basketball, or quarterback in football), passes or fakes a pass to the leftback or rightback, players closest to him, or the the leftwing or rightwing, all moving and blending like a mixture of Phil Jackson’s Triangle Offense, and a Harlem Globetrotter weave.
Playing with his back to the goal, is the Pivot. Like a low post power forward in basketball, the pivot, usually the strongest physical presence on a team, sets picks, and generally disrupts the defensive players tracking the offensive players movements, freeing them for throws at the goal, or freeing himself to receive the ball and score, often off of errant passes or missed throws at goal.
When on defense (players go "both ways") defenders may use their hands to push and disrupt the offensive players flow, but grabbing, tripping or any other “unsportsmanlike” conduct is a violation resulting in anything from turning the ball over to the other team , giving the other team a free throw (a simple putting the ball into play ), to a penalty shot free throw which is played directly at the goal without interference from any one but the goalie.
Some fouls result in the removal of a player for two minutes, resulting in an advantage for the team with more players like a “power play” in ice hockey .
How rough and physical? It is the only sport to include in its official rules, language to punish an “assault”. Play the ball, not the man is the rule. As rough as things get, fouls on individuals are not counted up like in basketball. If persistent fouling is used as a technique to gain advantage however, one of the two referees may disqualify a player from the game, or suspend them from future games.
Substitutions too, place emphasis on smooth transition, keeping the lightning like flow of the sport going. It is similar to that of hockey where the players come off and on seamlessly. Penalties , however, are given out for taking advantage of the free form substitution rules to gain advantage over an opponent.
Two fast paced 30 minute halves, with each team having only one 2 minute time out, with a 10 or 15 minute halftime break, makes the sport ideal for tournament style events.
These four Team Handball Clubs playing professionally in the LNH, or Ligue Nationale de Handball, or in English, the National Handball League, represent the absolute finest Team Handball teams in France. Some of these same players, when members of the French Olympic team this summer, shocked the Team Handball world by upsetting world power Croatia in the semi final, then defeating Iceland for the 2008 Olympic Gold Medal final. The Chinese organizers knew what they were doing when they scheduled the event as the very last Gold Medal of the Games.
The winner of this event, the Coupe de la Ligue qualifies for a spot in the prestigious European Club Cup Championship representing the nation of France.
In American sports terms, the AA Arena event, held April 10th and 11th is France's Professional Team Handball’s ultimate event, the Final Four, the World Series, the Super Bowl.
Semi final games are scheduled for Friday April 10, at 12 pm noon and 5pm. The Coupe de la Ligue final will be held Saturday April 11, at 12 pm noon.
But wait, there’s more.
Equally as anticipated is Saturday’s game at 5 pm. It is a World Team Handball AllStar Exhibition game, featuring the LNH stars, against what may be the Greatest “Dream Team” ever assembled in the sport's long history. Professional players from Central, South, and North America, China, Egypt, and other Asian and African nations will play against the LNH All Stars. The player recognized worldwide as the best, Jackson Richardson, will play for the World All Stars.
1991 Miami Hurricane National Champion, NFL wide receiver and former assistant FIU Athletic Director AC Tellison and South Florida resident, Romanian born Cristian Zaharia, (a world renowned legend of the sport as a player for Romania, an Olympian for the Czech Republic, and in France and America as the former head coach of the Pan American Games bronze medalist US national team) are responsible for bringing this World Class event to the USA, Florida, and the Miami area.
Their stature in the world of Professional Sports, and their position in our South Florida Business Community through their founding of New World Sports Enterprises (newworldsports.us). resulted in them being appointed the honor of organizing the semi finals and finals of the Coupe de la Ligue.
Corporate partners Miami Convention and Visitors Bureau, Alliance Francaise of Miami, and the Miami Dade Sports Commision, along with Global Event Travel and marketing specialists the Wrijen Company have joined New World Sports and its founders, owners and operators Tellison and Zaharia in making the commitment to deliver a World Class experience befitting the stature of this sport.
Doubletree Hotels , along with the Intercontinental Miami Hotel and Newport Beach Hotel and Resort bring their expertise in welcoming the World and French professional athletes, and the thousands of visitors, journalists, producers, directors, camera operators and others who will participate in, report on, and televise this sporting event worldwide.
Partner and Internet giant EuroSport.fr, is building excitement in Europe. Magic Johnson Enterprises and his many businesses are working locally doing the same.Community building iamsport.org and whatisrespect.org are building the buzz as well on the world wide web.
LNH’s Coupe de la Ligue Path to Miami is looked to be the watershed event that breaks this fascinating sport all over the USA. New World Sports Enterprises, its Founders, owner operators Tellison and Zaharia have the clout to bring to Miami the Coupe de la Ligue, the experience to introduce Professional Team Handball to America, and the vision to follow through with exhibitions, clinics and camps to develop a generation of this country's youth to compete on a world level.
Those fortunate enough to secure tickets to the event, along with a worldwide television audience expected to number in the hundreds of millions, will be treated to appearances by lifelong Team Handball enthusiast and internationally known sports figures such as; French Open champion, Yannick Noah, San Antonio Spurs guard Toni Parker, World Champion French soccer star Zinedine Zedane, Olympian Legends Bob Beamon, and Sebastian Coe (president of Olympic Organizing Committee for the London 2012 Games). Prince Albert of Monaco, (an Olympian in his own right), and actor Jean Reno ( Mission Impossible ) will attend the games as well.
For more information, visit newworldsports.us.

Copyright 2009 Miami Business Community Personalities, No reproduction or distribution or translation without written consent

Monday, January 12, 2009

the country comes to miami

Remember country farms with stands offering the best and freshest from local farms? Located just 28 miles from downtown Miami, 22 miles from coral gables and the grove, and 13 from pinecrest and kendall, Knauss Berry Farms feels like a bit of Pennsylvania Dutch country.
Punch in 15980 SW 248 st. (also known as Coconut Palm Dr.), into your GPS or online mapping service, and a zip code of 33031, and the end of the road finds you at a simple retail outlet in Homestead Florida.
Its U-pick season at Knauss Berry Farms, which means that vine ripened tomatoes and strawberrys can be had along with the fun of picking them yourself. Ask the friendly employees for advice on which are ideal for harvesting, and which to leave for another day.
Fresh produce, especially newly gleaned lettuces, redleaf, bibb, and a gourmet mache' mix, green and yellow squash, and tri colored peppers catch the eye. If you can make it out of the simple , clean display area without pausing to pick up fresh baked breads, cinnamon and sweet rolls, cheesecakes and fruitpies, you won't be able to pass up the homemade cookies, jams and jellys.
Locally produced Honey is available, which is an increasingly popular and effective way to take the edge off of hay fever when taken with tea in the morning.
Ohhhh, noooo, is that soft serve ice cream? Guilty as charged.
Started some 51 years ago by Ray Knauss, you will find him, his kind and polite daughter Rachel , along with three other of the "Brethren", still wearing the traditional dress of the peace loving and peace seeking German Baptists.
If living a simple life serving God, and supplying the needs of one's community for good, fresh, wholesome, simple food are sufficient for happiness, then Knauss Berry Farms in Homestead may be one of the truly Happy places in our Miami Community and surroundings. Just ask the two smiling, in-the-know ladies in the Audi that made the trip from Coral Gables, and who needed the assistance of a helpful employee to fill up their trunk with their purchases.
The Knauss Berry Farms retail center is open from 8 to 5:30, monday thru saturday. Despite information in a local paper to the contrary, don't make the trip on Sundays as Knauss Farms is closed for its owners and employees to enjoy a quiet day of rest.
Just like it was in the country. Remember?