Daily StarRelationship Marketing: Leveraging RelationshipsToday’s most successful advisors are using simple, new techniques for referrals by miningtheir current client relationships. The result iseffective marketing that is more productive,less expensive, and needs less time and effort.Peter Montoya, President, MarketingLibrary.net8:00 to 8:50 – Fountain

Introduction to NextPhase™ Income DistributionLearn how time-segmented strategies work andhow advisors can use Securities America’s toolsto incorporate guaranteed income solutionsalongside a time-segmented strategy.Zach Parker, Director Annuities & Insurance, Securities America8:00 to 8:50 – Vista II

Streamline Account Setup: Take Control w/ e*OfficeSave time and reduce frustration with the new streamlined account setup process that helps ensure client data is complete before paperwork is submitted.Justin Kaufman, Sr. Rep Relations Technology TrainingSpecialist, and Troy Paradis, Rep Relations Training Specialist,Securities America11:00 to 11:50 – Catalina

Re-Defining Your Value PropositionIn the wake of economic and market turmoil,how have public perceptions changed, andhow are smart advisors redefining their valuepropositions? Join marketing guru and coach Marie Swift as she shares information gleanedfrom dozens of conversations with leadingadvisors and industry thought leaders.Marie Swift, President & CEO, Impact Communications3:30 to 4:20 – Fountain

Special 1-Day Track! Ideal Assistant/Office ManagerWorld-class service comes from high performingassistants and office managers. – Driftwood

Special 1-Day Track! Retirement Income PlanningOne day, one room, all you need to knowabout retirement income planning! – Vista II

Passionate, Committed and CreativeBe nimble, work hard and, most importantly, work smart to succeed.

Surf’s up, and advisors, support staff and industryprofessionals from all over the country haverolled in to Huntington Beach for the SecuritiesAmerica 2010 Connect! National Conference

at the Hyatt Regency Resort.For the second straight year, conference

attendance has broken the previousrecord, with more than 631 advisors andsupport staff making up the majority ofthe 1,148 attendees. Over the next threedays, attendees will get direction fromSecurities America’s GPS system toGrow, Perfect and Secure their practiceat more than 95 educational sessions. Many of those attending arrived early

to take advantage of pre-conferenceworkshops or took the time to browsethe Technology Pavilion, Conference Book Store andCorporate Store, which all opened yesterday. The con-ference officially kicked off last night with the OpeningGeneral Session. Kirk Hulett, Securities America seniorvice president of strategy and practicemanagement, welcomed everyone andserved as master of ceremonies for theevening. He also gave the audience asneak peek of Tuesday’s closing nightparty at Mission San Juan Capistrano. “There will be a yo-yo champion,

a trick roper, flamenco dancers, atraditional Mexican paper flower maker,a tortilla maker and a candy blower –which is not as unhygienic as it sounds,”Hulett said. “You can try your hand atrock balancing – I am told this is a veryCalifornia thing-to-do – stacking odd shaped rocks endon end in the most highly unlikely way. By the way,not a California thing-to-do – state budget balancing.”Steve McWhorter, Securities America chairman and

CEO, took the stage to thunderous applause.“I did not expect to be on this stage tonight,”

McWhorter said, “but to paraphrase George Burns,at my age, it’s good to be anywhere. I had originallyplanned to retire on April 1 – but that was a soft datedepending on the progress of the national search to fillmy role. However, that process has taken longer thanoriginally expected. Thus, my farewell tour has lasted

longer than Cher’s. (Or, I feel like one of those 1960srock-n-roll bands where half the members have died andthe other half are deaf, but they just keep touring andpretending to be rock stars as they approach their 70s.)

McWhorter shared with the audiencesome of the lessons learned during his22-year tenure with Securities America.“Things happen for a reason,” he said.

“Learn from setbacks and over-reaching.The set back is painful at the moment youexperience it, but once the time is over,work to gain perspective. It is never asgood as it appears; it is never as bad as itappears. Be suspicious of both wins thatseem too easy and apocalyptic doomsayers.Don’t get fat. Stay nimble. Success breedssome bad habits. Times of uncertainty like

we have just experienced put a spotlight on those badhabits. Do what you love, love what you do. Knowwhen you rise to your level of incompetence.“Hire good people and let them play to their

strengths. When you do that, you get apassionate, committed and creative team.When you have people playing to theirstrengths, you get a diverse team. You canget a variety of perspectives on a big deci-sion. Get them quickly, then decide anddon’t look back. Get a balance of left brainand right brain when you hire. Be straight-forward in your communication. Evenwith bad news, don’t delay. Deal with ithead on – then move forward. Most peoplehave good intentions. Most conflict is dueto misunderstanding, poor communication

and not putting yourself in others’ shoes. There arevery few grand conspiracies or secret agendas.”McWhorter concluded with positive predictions for

Securities America’s future.“The Securities America senior executive team is

passionate and committed to serving you,” he said. “Ilook forward to crashing the National Conference in afew years and being blown away by all the new innova-tive technology, business growth programs and serviceenhancements this leadership team has continued toroll-out year-over-year. You will not be able to stop

Today’sHIGHLIGHTSToday’sHIGHLIGHTS

ContentsContents

Daily StarTHE

Your business growth expert.

STEVE MCWHORTER

JAY LENO

NextPhase™ Income Distribution Solutions . . . . . 3Systematize and Create Raving Fans. . . . . . . . . . 4Tax Planning Knowledge Is Business Magnet . . . 5Get Hands-On Technology Experience . . . . . . . . . 6

Opening Day Photo Page. . . . . . . . . . . . . . . . . . . . 7Leveraging Albridge Wealth Reporting . . . . . . . . 8The Shape of Our Future Influenced by D.C. . . . . 9Meet Baseball Legend Tony Gwynn . . . . . . . . . . . 9

The Ideal Assistant & Office Manager Track . . . 10Re-Defining Your Value Proposition . . . . . . . . . . 11Financial Planning Magazine Features SA. . . . . 11

continued on page 5

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NextPhase™ Grows in Breadth, Depth and PowerSecurities America’s income distribution program leaps to new heights with integration and added resources.

Introduction to Managed OpportunitiesNextPhase™ (for first-time users)Monday 1-1:50 p.m. – Vista IIThis session is specifically designed forfirst-time users and will introduce the ManagedOpportunities NextPhase™ Retirement IncomeDistribution Solutions platform to advisors andstaff. The presentation includes an overviewof the state-of-the-art technology that wascreated to support advisors implementing theNextPhase™ program with their clients. Speakers: Jason Kissinger and Scott Lickteig

Advanced Training for Managed Opportunities NextPhase™(for experienced users)Monday 3:30-4:20 p.m. – Vista IIThis session will provide detailed andadvanced training on using the ManagedOpportunities NextPhase™ platform and how toimplement advanced and difficult cases. Speakers: Jason Kissinger and Zach Parker

Keep an eye open for the NextPhase™

program’s seal (show above). This easy-to-seeseal will help you identify new and enhancedresources that you can use with theNextPhase™ program as you begin toimplement it in your practice. Training andcoaching opportunities will also be taggedwith this seal so you can see which materialsand programs can be easily integrated withthe NextPhase™ program.

– Natalie J.S. Hadley

In a series of conference sessions over thenext two days, advisors will be able tolearn more about retirement incomedistribution, time-segmented investment

strategies, guaranteed income products andhow to leverage Managed OpportunitiesNextPhase™ Retirement Income DistributionSolutions platform to position themselves asspecialists in this important and growing area.“This is the first conference where we’re

really covering income distribution from startto finish,” Parker said. “Advisors will be ableto learn about every facet of SecuritiesAmerica’s income distribution resources aswell as new additions to this expandingsupport platform.”Those new additions include an approach

to segmenting retiring clients as significantsavers, delusional spenders and enthusiasticretirees. The ROI Profile will be expandedbeyond its current guarantee and volatilityfactor measurements to help advisors alsoevaluate the client’s legacy and lump-sumexpenditure factors. New client marketingmaterials will be unveiled, including a full-sizeand a tri-fold brochure, with presentations,invitations and other materials in the pipelineto be rolled out shortly after the conference.

“Probably the most exciting new componentof the NextPhase™ Retirement Income DistributionSolutions platform is our NextPhase™ Coachingprogram, a web- and phone-based coachingseries that will teach advisors how to create,monitor and manage retirement income,”Parker said. “We’re already enrolling for thefirst class, which starts July 8. Every advisorwill face this need among his or her clients, sothe decision is really whether to becomeeducated in this area or risk losing thoseclients. NextPhase™ Coaching gives advisors asystem for integrating income distributionplanning into their practice.”Learn more about Securities America’s

NextPhase™ Retirement Income DistributionSolutions by attending one or more of thefollowing sessions:

Introduction to Time-Segmented IncomeDistributed and NextPhase™Sunday 8-8:50 a.m. – Catalina RoomLearn the basics of time-segmented incomedistribution strategies, how they work andhow you can use Securities America’s tools toincorporate guaranteed income solutionsalongside a time-segmented strategy. We willalso share research and updates sinceSecurities America published the “Capturingthe Income Distribution Opportunity” whitepaper. Speaker: Zach Parker

Using NextPhase™ Income Distribution ToolsSunday 11-11:50 a.m. – Catalina Room Take a more in-depth look at all the incomedistribution tools available now and comingsoon under the Securities America NextPhase™

umbrella, and how you can use thesetools interdependently to grow your incomedistribution planning practice. Speakers: Zach Parker and Scott Lickteig

Using Guaranteed Income Products inNextPhase™ – Panel DiscussionSunday 1-1:50 p.m. – Catalina RoomRepresentatives from EverBank, AAM,Insurmark, Nationwide and AXA Distributorswill discuss guaranteed product solutions thatcan be incorporated into segments one andtwo of a time-segmented distribution strategyincluding lifetime guaranteed income. Panel moderator: Zach Parker

Case Studies & Investment Solutions forManaged Opportunities NextPhase™Monday 8-8:50 a.m. – Vista IIThis presentation will highlight real-life casestudies centered on how Securities Americaadvisors have successfully implemented theNextPhase™ Retirement Income DistributionSolutions platform in their practices to meettheir clients’ needs. Participants will learnabout the client profiles and how the advisorsused different investment solutions forincome strategies. Speaker: Jeff Spitzmiller

“Advisors will be able to learn about every facet of Securities America’s

income distribution expertise, tools and resources.”

ZACH PARKER

part of their client offerings,” Fox said. “Theywill learn how to create documented workflows,powerful revenue models, suggested areas ofadvice to provide and proven methods toimmediately increase their income – all whileworking only four days per week, increasingrevenue from their existing clients and attractingnew clients that become ‘raving fans.’”After many requests from other advisors to

share her secrets, Fox last year launched FoxFinancial Planning Network™.“The program gives financial advisors a

fully documented financial planning workflowsystem that includes detailed written procedures,

templates, scripts and step-by-step training thatenables advisors to provide comprehensivefinancial planning services to their clients for arecurring fee,” Fox said. “The training programenables advisors to immediately increase theirrevenue and begin delivering high-value,unique planning services in a consistent, yethighly personalized manner.”Fox has been extensively interviewed and

quoted by major consumer and industry publi-cations and media. She was featured on thecover of Financial Planning magazine in August2009. In 2007 and 2008, Fox College Funding®was awarded the CPA Wealth AdvisorFinancial Planning Award of Excellence forLeadership in Financial Planning and for takingthe lead through innovation and ethics in thefinancial planning arena.

– Natalie J.S. Hadley

In more than 25 years of providing financialservices, Deborah Fox has found that themore services advisors provide to clients,the less likely those clients will ever leave.

Fox, a Securities America advisor for sevenyears and founder of the specialty planningcompany Fox College Funding LLC, hasdeveloped a unique process for delivering morecomprehensive financial planning advice

without increasing workload. She will share herinsights and her system in today’s session,“Shortcuts to Systematizing Your Practiceand Creating Clients who are Raving Fans,” at2 p.m. in the Vista I Room.“Whether or not you currently provide any

type of financial planning services, advisors whoattend this session will discover compellingways to do so in a highly systematized manner as

Shortcuts to Systematizing Your Practice & Creating Raving FansAdvisor Deborah Fox shares secrets for increasing your income, working with fewer clients and taking more time off.

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“By attending thissession you will

discover compelling,systematized ways to provide financialplanning services.”

DEBORAH FOXDEBORAH FOX

“Learn proven methods to systematize your

practice and immediatelyincrease your incomewhile working only four days per week”

Tax Planning Knowledge is Magnet for Retirement BusinessSlott: Investment in specialized education pays dividends with new business opportunities.

see dividends in the size and sophistication ofclients they can attract, Slott said.“You have to have a long view, and becoming

educated about tax planning has a long-termpayoff,” he said. “Educated advisors are attractingmore assets under management because investorshave been burned and are now educating them-selves. An advisor has to be more knowledgeablethan a consumer. We have reached a crossoverwhere consumers may actually know more thanthe advisor. The laws are changing all the time.Advisors need to be up on what’s changing.”That doesn’t mean advisors should practice

tax advice or accounting without the proper

credentials, as compliance cautions, Slott said.“You don’t have to be a tax expert, but youhave to be able to address the issue and beknowledgeable. You can work with an outsideCPA, which can be a value-add for your clients.”Slott was named “The Best” source for IRA

advice by The Wall Street Journal and called“America’s IRA Expert” by Mutual FundsMagazine. He publishes Ed Slott’s IRA Advisor, amonthly IRA newsletter, in addition to being apersonal finance columnist for numerous financialpublications. Slott is a past chairman of the NewYork State Society of CPAs Estate PlanningCommittee and editor of the IRA Planningsection of The CPA Journal.

– Natalie J.S. Hadley

America’s IRA Expert Ed Slott takes thestage during today’s general sessionwith a positive message for hisaudience: There’s never been a better

time to be an independent financial advisor.“We’ve been through bad times, and money is

now in motion,” said Slott, creator of Ed Slott’sElite IRA Advisor Group™. “You need emotion forclients to move money. Consumers are fed up andangry, and they are looking for a local independ-ent advisor to be their knight in shining armor.”Specializing in retirement planning that

addresses tax considerations can help advisorsdifferentiate themselves in their market, Slott saidin a pre-conference interview. “Investment products have become very

commoditized, so advisors can’t attract new clientswith just products,” he said. “Retirement planningfor accumulation is important, but it’s how muchthe client keeps that counts. Taxes will be thesingle biggest factor in how much clients keep.Clients are looking for someone to help themprotect what they accumulate and avoid losing itto taxes. Knowing this stuff can give advisors anincredible competitive edge.”A CPA, Slott’s business these days focuses on

training advisors on retirement tax planning andproviding resources to consumers. He is a widelyrecognized professional speaker and has createdthe nationally aired public television specials“Stay Rich Forever & Ever with Ed Slott” and“Stay Rich for Life!” He created The IRALeadership Program™ and Ed Slott’s Elite IRAAdvisor, developed specifically to help financialinstitutions and advisors become recognized lead-ers in the IRA marketplace. He is the author of“Stay Rich for Life!;” “Your Complete RetirementPlanning Road Map;” “Parlay Your IRA Into aFamily Fortune;” and “The Retirement SavingsTime Bomb and How to Defuse It.”“Few advisors are trained on tax planning, and

the rules are complex,” Slott said. “Millions ofclients need this service. There’s no place for themto learn how to get their money out of theseaccounts or for beneficiaries to get money out ofaccounts they inherit. I estimate that only 1 percent

of advisors have been trained on how to moretax-efficiently get money out of tax deferredretirement accounts. Even within the accountingprofession, retirement tax planning is a specializedarea of tax law, and many accountants andattorneys don’t get it. If everyone could do it,we wouldn’t need specialists.”Slott became a tax planning evangelist when, as

a CPA, he found mistakes clients made in theirtreatment of investments costing them in taxesthey could have avoided.“In doing tax returns and planning, taxes are

historical; they look back,” Slott said. “I foundmany people didn’t do tax planning, which looks

forward. People didn’t know that every time theyleft a job or rolled their 401(k) into an IRA, ifthey didn’t do it right, it could be taxable – andthat mistake can’t be fixed. I realized financialadvisors are not trained on the tax traps involvedin some investment decisions. At that time, therewas little material except the law itself.“I decided to specialize my tax practice on

planning, and began speaking and doing seminars.I wasn’t a threat to financial advisors, becauseI don’t sell any products. Advisors saw me as a wayto add tax planning to their practice. That’sbecome more important today, as a 401(k) or IRAis often a retiree’s largest single asset.”Advisors who invest in their professional education

by building their knowledge about tax planning

Securities America from moving forward. I appreciate the friendships andpartnership with all of you over the years. Each one of you has your ownfascinating life story and experiences you have shared with me. I will rememberthose more than all the business stuff as I transition to the next stage of my life.”Jay Leno, comedian and host of “The Tonight Show with Jay Leno,” provided

the evening’s entertainment. During an interview prior to the conference, Lenooffered his own philosophy about finances.“I operate on a cash basis,” he said. “I have one credit card. I don’t lease

anything. I don’t have a mortgage. I didn’t buy a house until I had a big bag ofmoney to pay for it. I always try to have more coming in than going out. I’vealways worked two jobs, so I would spend what I earned from one job and savewhat I earned from the other. I did that working at McDonald’s and as amechanic, and I continued when I got into show businesses. I do approximately

160 personal appearances a year, and that’s the income I live on. All the moneyfrom television I save and invest. I always tell people, ‘Never believe in yourself.If you’re any good, someone else will pay for what you do.’”Leno has made a significant investment in his collection of antique, expensive

and unusual vehicles, including a full-time staff of three to keep them repairedand running smoothly. Although almost all have increased in value, Leno said hehas never sold one.“I know vehicles and their value, but I buy what I like,” he said. “In 1999,

I bought a second-hand McLaren FI for $800,000. One sold last week for$4.3 million. In emerging markets like China and India, as more people becomewealthy, they become collectors of cars and motorcycles and the value goes up.Although I would never sell any of my vehicles, I would estimate for most ofthem, their value has gone up five- to 10-fold.” – Natalie J.S. Hadley

“You have to have a long view, and becoming educated about tax planning has a long-term payoff.Educated advisors are attracting more assets under management.”

ED SLOTT

Passionate, Committed and Creative (continued from cover)

questions, demonstrate services and discusschanges. The Technology Pavilion is the place togo if you:

}Want to better understand how to use a specific solution.

}Want to conduct your daily business more efficiently.

}Want to know about new systems and features we have introduced since last year’s conference.

We will also be collecting your ideas for futureenhancements. Many of the improvements toour technology over the years have started witha conversation at the Technology Pavilion!We are constantly tweaking and adjusting oursystems to make them as intuitive and efficientas possible, and that’s only possible with honest,constructive feedback from our advisors.Many of our strategic technology partners will

be joining us to provide you with informationabout their services. SunGard will be availableto answer your questions about Planning Tools.Morningstar can show you Advisor Workstationand other great services. National Financialand Pershing will both be there to exhibit thepowerful technology available from our clearingfirms. Futureware will be offering great deals oncomputer equipment and hardware for youroffice, including the Digital Pen, which isavailable for purchase in the TechnologyPavilion. If you are interested in performancereporting, stop by the Albridge booth for ademonstration. Redtail CRM will showcase itsweb-based, easy-to-use client managementsolution designed specifically for financialprofessionals. You can also chat with CoSentryBusiness Resiliency Solutions, SecuritiesAmerica’s new strategic partner providingadvisors cost-effective, user-friendly remote andtelephone IT support for software applications,installations, security, network, peripherals andPC performance needs. These companies andmore will all be available to show you theirtechnology and answer your questions.If you need to check your email or the

markets, visit the Cyber Café, located near theconference registration desk. Don’t get tooengrossed, though! We want you to make themost of your time with us by attendingconference sessions and learning from yourpeers, our home office professionals and productsponsor representatives.

Technology Pavilion HoursSaturday . . . . . . . . . . . Noon to 5 p.m. and . . . . . . . . . . . . . . . . . .8 p.m. to 10 p.m.

Sunday . . . . . . . . . . . . . . . . 8 a.m. to 7 p.m.

Monday . . . . . . . . . . . . . . . 8 a.m. to 6 p.m.

Tuesday . . . . . . . . . 7:30 a.m. to 3:30 p.m.

– Natalie J.S. Hadley

Nothing beats a test drive, so eachyear at the National ConferenceSecurities America brings you theTechnology Pavilion, where you

can get hands-on with leading-edge industrytechnology from Securities America and ourstrategic partners.A conference fixture since 1999, the

Technology Pavilion is centrally located in the

Shoreline Room and staffed by members of theField Technology team. These professionalshave a combined 116 years of experience inthe financial industry. Of that, 94 years hasbeen with Securities America throughout thefirm in such areas as operations, compensation,management and sales.The Field Technology team will be available

throughout the conference to answer your

Get Hands-On Experience with Leading TechnologyThe Technology Pavilion offers onsite experts and computers to help you with your technology questions.

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Pre-Conference Workshop for Advanced UsersJeremy Robson elaborates on Albridge Wealth Reporting.

Bringing Down the House!A packed opening session enjoys comedian Jay Leno’s wit.

Pre-Conference e*Office OrientationNew advisors and office staff get a primer from Justin Kaufman on Securities America’s e*Office Workstation.

Accelerate the Growth of Your Fee-Based PracticeFee-based business experts help attendees race ahead of the packat the Roadmap pre-conference workshop Friday and Saturday.

Securities America CEO Steve McWhorterSteve shares his insights and thoughtswith the record-attendance crowd.

Special Entertainment for the EveningLate night star Jay Leno entertainsattendees with his trademark humor.

Welcome to 2010 Connect!Kirk Hulett emcees this year’s openingsession of speakers and entertainment.

Grow, Perfect and Secure Your Practice – 2010 Connect!Highly attended pre-conference events and a riveting opening session kick off the National Conference.

answer questions from advisors and their staff onhow to get the most from this powerful tool.

Investor ViewThe Albridge Wealth Reporting platform has

been enhanced to include new functionality foradministering and customizing the client accesssite. Advisors can limit their clients’ view toreports and functionality – only the reports andfunctions allowed by the advisor will appearas selections on the advisor’s InvestorCustomization screen. Advisors have theflexibility to create an unlimited number of clientviews and customize these views to their clients’individual needs. Advisors have the option ofsetting a client’s view to include all future reportswhen they become available to the advisor.“Investor customization provides more

flexibility for advisors to manage functionalityfor clients,” Robson says. “It allows advisors tocustomize their clients’ view based on thespecific needs of each client.”

Portfolio Risk and Return ReportsAlbridge has rolled out a new risk report that canshow up to 25 commonly used risk and returnmeasures, including Alpha, Beta, R-Squared,Sharpe Ratio, Value at Risk and StandardDeviation. These reports will be supported by tworisk administration screens, one for the financialinstitution and one for the advisor. Advisors havethe ability to make their own choices for risk-freerate and minimum number of months as well asthe risk measures shown on their risk reports.

Absolute Return and Adjusted BenchmarksThis enhancement gives users the ability tocreate absolute return and adjusted benchmarksfor use on performance reports. Albridge has afunction to create and maintain absolute returnand adjusted benchmarks, allowing advisors tocompare a portfolio against a target rate of return.Users can adjust standard and composite bench-marks for comparison against their portfolios.

Albridge WebServices/AppLinkAdvisors can now subscribe to have Albridgeprovide interconnectivity and data sharingbetween Albridge and third-party applications.Albridge users can maximize the use of theirclient account data to increase efficiency andsecurely interact with critical third-partyand proprietary applications. The third-partyapplications that have been approved so far areeMoney, Redtail, Finance Logix and EZData.Securities America will continue to reviewthird-party applications to determine if they meetthe security requirements to be added to the list.With so many new options and functions, plan

now to attend an Albridge session! “Discoverthe ‘Power’ of Albrige Wealth Reporting” todayat 2 p.m. or “Albridge Reporting Best Practices:Become a ‘Power User’” tomorrow at 8 a.m.Both sessions will be in the Vista II room.

– Natalie J.S. Hadley

If you missed yesterday’s pre-conferenceadvanced workshop on using AlbridgeWealth Reporting – or if you feel you haven’treached the “advanced” level yet – don’t

despair! You’ll have two more opportunities tolearn more about this dynamic performancereporting system. Join Securities America’sresident Albridge expert, Jeremy Robson, andJustin Newman, Albridge product manager, today

at 2 p.m. for the session “Discover the ‘Power’ ofAlbridge Wealth Reporting” for those consider-ing adding Albridge to their tool box. Tomorrowat 8 a.m., Robson and Newman will present“Albridge Reporting Best Practices: Become a‘Power User,’” sharing ways to leverage Albridgefeatures for more efficiency and client value-add.Robson will touch on the following enhance-

ments made since last year’s conference, and will

Leveraging Albridge Wealth Reporting to Meet NeedsTwo more opportunities remain to learn more about this dynamic performance reporting system.

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The Shape of Our Future Influenced by WashingtonKeynote to address the role that government and regulators will play in how advisors do business.

SEP, Keogh, 403(b) and full-service 401(k)plans. She earned her employee benefit specialistcertification through the Wharton School atthe University of Pennsylvania. “I was mathematically inclined, and I started

in the industry working with actuaries designingdefined benefit plans,” Capage said. “That wasback before computers, and we used columnarplans with 16 lines of math. It really gave methe ability to understand how things work to adegree I don’t think we see anymore. Definedbenefit plans, of course, began to decline, andI didn’t care for the math involved with 401(k)plans, so I got into legal and compliance,designing documents.” Capage, whose life was involved in actuarial

calculations in the 1970s, said working ondocuments caused her to start noticingregulations and how they developed. “Invesco saw the value in having people

looking at legislation and regulation from aforecasting perspective,” she said. “It’s a uniquefield and not many people get into it to thedepth they need to. No matter how manytimes I tried to move my career in a differentdirection, I always ended up back in regulationand forecasting.”A sought-after speaker on retirement, Social

Security and tax reform, Capage has beenfeatured on numerous regional radio broadcastsand has published articles in many professionaljournals and publications, including Pensions& Investments, Defined Contribution Newsand Investment News.

– Natalie J.S. Hadley

Keynote speaker Kathryn Capageoffers insight into regulations andWashington’s perspectives that willshape the future of financial services

for years to come.Regulatory bodies don’t always give a lot of

warning before making changes that havefar-reaching impacts on the financial servicesindustry. Case in point: When the rulingabout 403(b) transfer business came in 2008,

within two months the landscape for advisorsservicing those plans changed dramatically.Having insight into the ongoing news and

developments in legislation and regulation canhelp advisors and companies better preparethemselves and their clients. With more than30 years of experience in retirement, SocialSecurity and tax reform, Kathryn Capageprovides valuable insights and forecasting tothe senior leadership at Invesco, where she isthe senior director of retirement research.Capage will discuss whether the nation’seconomy or legislation and regulation will bethe biggest driver in the financial servicesindustry in the near future during Sunday’sgeneral session, 9 a.m. to 10:50 a.m. in theGrand Ballroom, Salons D-G.“I’m periodically in D.C., and I’m always

talking to, and online with, political analysts atthe regulatory bodies and my peers to get asense of likelihood that ideas will actuallybecome regulation or law,” Capage said in apre-conference interview. “It’s good to be awareof the climate. Forewarned is forearmed.”One of the biggest recent developments for

the nation was the health care reform actpassed earlier this year. The legislation will takeabout eight years to completely implement,Capage said, rolling out in a drip system, withsome measures effective immediately, some insix months and others in a year or more.Specifics of some initiatives have yet to beclearly outlined, and conditions can change,making it important to stay watchful.“If Obama remains in office, there shouldn’t

be any problem in getting health reform fully

implemented,” Capage said. “If a Republicanpresident is elected in 2012, and constituentsare in favor of abandoning some of the meas-ures of the bill, then we’ll have a problem. Buta lot of social systems, once ingrained in theAmerican psyche, are very difficult to change.”The focus on healthcare prevented Congress

from addressing the 2010 expiration ofthe estate tax, a surprise to many as thegovernment faced the financial burden of

bailouts and higher unemployment. The housepassed a version in late 2009 that would havekept the estate tax at 2009 levels, but theSenate didn’t act because of health care. If nonew law passes this year, estate taxes will revertto 2001 levels next year.“There has been discussion about making an

estate tax retroactive to Jan. 1, 2010, but that’sa hard sell that would receive a lot of press,”Capage said. “The government will lose about$300 billion in tax revenue this year with thetemporary repeal of the estate tax.”Social Security took the forefront in May,

and will continue to need the time andattention of the Obama administration andCongress, Capage said. “The Social Security Administration has

seen more baby boomers filing than expected,about 10,000 a week, because boomers havelost revenue from employment,” she said.“We’re anticipating that the search for how tofix it will be taking front and center. One ideamay be to raise the retirement age to 70, whichwould cover about 40 percent of the deficit, sothere would have to be other measures to coverthe rest. The only argument I hear againstraising the age is the physical demands ofworking until 70. The problem is that SocialSecurity is run by politics, so we don’t get theinstant resolution or decision we could get if itwere run by a private corporation. In addition,every time someone comes up with an idea,there’s a media frenzy against it.”Prior to joining Invesco in 1997, Capage was

a compliance officer for a large trust companywhich administered more than 500,000 IRA,

“I’m always talking to, and online with, political analysts

at the regulatory bodies and my peers. It’s good to be

aware of the climate. Forewarned is forearmed.”

KATHRYN CAPAGE

San Diego Padres Baseball Legend!MEET HALL OF FAME

ATHLETE TONY GWYNN!Be sure to visitJohn Hancock’sbooth #413/512 onSunday, June 6,from 5:30 p.m. to6:30 p.m. in theH u n t i n g t o nBallroom, SalonA-C, to get yourpicture takenwith San DiegoPadres baseball legend and Hall of Fameathlete Tony Gwynn! Gwynn is consideredby many as the best pure hitter of his era.Don’t miss this opportunity! Pictures will beavailable for pick-up on Monday, June 7,after noon at the John Hancock booth.

TODAY!5:30 to 6:30 p.m. – John Hancock Booth

practical and implementable ideas, tips andvaluable tools for assistants and office managersto take back and apply to their advisor’s practice.“Securities America has long been a leader in

providing training specifically for assistants andoffice managers, based on the belief that behindevery successful advisor is a talented, supportivestaff,” said Kirk Hulett, Securities Americasenior vice president of strategy and practicemanagement. “For more than a decade,Securities America has included the IdealAssistant track at National Conference, whichover time has evolved to include specificsessions for office managers, designated principalsand associate advisors. For staff who can’tattend the National Conference or want tofurther expand their skills, we offer AssistantUniversity, which will be Oct. 14-15 at theHilton Omaha this year. Plus, we have oure*Certification program for assistants availableonline through the e*Office Educenter.”The Ideal Assistant and Office Manager

Track’s sessions, all to be held in the DriftwoodRoom for your convenience, include:

}Your World-Class Service System:Managing Client RelationshipsSunday 8-8:50 a.m.

}Managing for a High Performance TeamSunday 11-11:50 a.m.

} Personal Productivity: Managing YourselfSunday 1-1:50 p.m.

} From Assistant to Office Manager to COOSunday 2-2:50 p.m.

}Workflow Analysis: Managing Key ProcessesSunday 3:30-4:20 p.m.

}Your Role in Marketing: Managing Marketing ActivitiesSunday 4:30-5:20 p.m.

In addition, two Associate Advisor sessionswill be held tomorrow in the Driftwood Room:

}Associate Advisor SkillsMonday 11-11:50 a.m.

}Associate Advisor ToolsMonday 2-2:50 p.m.

– Natalie J.S. Hadley

What do you get when you combinealmost 85 years of collectiveprofessional experience withSecurities America’s Practice

Management Team and the life-in-the-trencheswisdom of approximately 2,500 advisorassistants, professional staff and officemanagers? Enough best practices to fill an entireday of sessions at the National Conference!

In preparing this year’s content for the IdealAssistant and Office Manager Track, SecuritiesAmerica’s practice management consultantscombed best practices from advisor officesacross the country and organized them into sixtopics: client service, team management,personal productivity, staff career paths,workflow analysis and marketing. The resultingsessions, listed below, provide a wealth of

The Ideal Assistant and Office Manager TrackSpecialty sessions offer implementable ideas, tips and tools gleaned from thousands of experienced professionals.

Daily StarTHEDaily StarTHE

“Securities Americahas long been a

leader in providingtraining specificallyfor assistants andoffice managers”

KIRK HULETTKIRK HULETT

Securities America, Inc., Member FINRA/SIPC. Securities America Advisors, Inc., an SEC Registered

Investment Advisor. Copyright June 2010, Securities America. All Rights Reserved. For Broker/Dealer Use Only.

Daily StarTHEDaily StarTHE

PublisherSecurities America

Marketing Department

Editor and WriterNatalie J.S. Hadley

Graphic Design, Photography Editing, Production and DistributionDerek Layne Peterson, MBA

Re-Defining Your Value Proposition for Today’s EnvironmentConsumer trends in the financial services industry may mean re-positioning your practice for optimal success.

instead find ways to show their characterthrough deeds and good work, both inside theindustry and in their own community. Theymust not only clarify and articulate their valueto the client, but also their personal values, inorder to differentiate themselves.”

Swift founded Impact Communications in1988 to provide full-serving marketing commu-nications to a select group of independentfinancial advisors, industry thought-leaders andallied institutions. Swift is a columnist forMorningstar Advisor, Research and FinancialPlanning magazines. She is a sought-afterspeaker at industry events, including manyFPA national and regional conferences,NAPFA, Lockwood University and the NFLPlayers Association. She is also the author ofthe forthcoming book, “Become a MediaMagnet: Strategies and Advice for Do-It-Yourself PR.”

– Natalie J.S. Hadley

To re-define your value propositionin today’s market, advisors mustdemonstrate credibility in order togain (or re-gain) consumer trust.

With many big-name Wall Street firms andbanks in discredit, independent advisors have aunique opportunity to gain market share byredefining their value proposition to focuson what consumers want most – a credible,trustworthy local source for financial adviceand guidance.Marie Swift, president and founder of Impact

Communications, will present “Re-DefiningYour Value Proposition” today at 3:30 p.m. inthe Fountain Room. Swift’s presentation willprovide advisors with an overview of currentconsumer trends in the industry, keys forindependent advisors to better positionthemselves in this new time of opportunity,and practical tips for creating credibility andawareness in their local markets.In preparing her presentation, Swift spoke

to industry thought leaders, includingKirk Hulett, Securities America senior vicepresident of strategy and practice manage-ment; Brett Ellen, president of AmericanFinancial Network, a Securities Americabranch; Mark Tibergian from PershingAdvisor Solutions; and Chip Roame,president of Tiburon Strategic Advisors and aconference keynote speaker.“Wirehouse firms have been slowly leaking

market share for years, causing the authors of theUndiscovered Managers report published in2000 to predict that wirehouses would dedicatemore time, energy and resources to stopping thatleak to the independent advisor community,”Swift said. “Of course, the authors of that reportcould not have predicted that a new round of

this ‘make-a-distinction/erase-the-distinction’game was about to begin, and that the earlyrounds would favor the independent advisor.”Research by Tiburon Strategic Advisors, the

consulting firm led by Roame, has identifiedtwo trends, Swift said: consumers moving away

from the wirehouse and big bank model, andconsumers moving toward discount brokerageservices. Although most consumers usingpersonal financial management sites haveaverage household income of about $85,000,placing them outside the target market of mostadvisors, advisors should consider incorporatingsome do-it-yourself web applications into theirpractice, she said.So what will help independent advisors gain

market share during this period of money andclients in motion? Demonstrating credibility tocreate trust will be foremost, Swift said.“If you tell a client or prospect, ‘I’m trust-

worthy,’ they immediately become skepticaland suspicious,” Swift said. “Advisors need to

“Advisors need to find ways to show their character through deeds and good work,

both inside the industry and in their own community.”

MARIE SWIFT

Securities America Featured in Industry Press

The cover of Financial Planning magazine’s May issuefeatures the smiling face of Jim Nagengast, presidentof Securities America, Inc. The article begins onpage 70, and you’ll find a great photo of Jim, Janine

Wertheim, Securities America’s senior vice president andchief marketing officer, and Steve McWhorter, our chairmanand CEO, on the facing page.In “The Road Ahead,” journalist Paul Menchaca profiles

Securities America, its recent growth and its executives’perspective on the future. “We’re very proud about what we’vedone as far as growing our technology, our assets undermanagement and our practice management,” said CEO SteveMcWhorter. “But one thing we’re also proud of is that wehave a management team that’s been together a long time.”According to President Jim Nagengast, Securities America could “layer onsome acquisitions.” At the same time, the company continues to focus tightly on helpingexisting advisors grow their practices, by continuing to provide advanced technology, a sophis-ticated retirement income distribution solution and proven practice management tools.