FMG Board - Newletter - Harsco - PA Law Review 1987

Meet the Specialists in Helping You Prepare for

Your Financial Independence.

M E R T L KAUrrYW ICNLLWWLEll.CFV STANLEY J. C A m E P. A U N U s ROBERT R UYIO. JR. - E.MMVr.- EnanhrnRrM bmdFM*vl",n* m Spsllll*

The Finincia1 Management Group Specialists are experienced professionals with the knowledge and resources available in ONE

- - .Maximize your wealth A. Tax Planning & Prepamtion B. Financial Planning .Minimize your taxes C. Estate Planning D. Retirement Planning -Improve your investment IRA'S, KEOGH'S

E. Investment Analysis. Implementation & Management coordinate your personal and F. Insurance Analysis, Planning & Implementation

business financial planning G. Legal Services H. Real Estate Services

A B C D E F G H

"- (717) 569-4100 .-.A. --.a"..- I.*

Eden Park 11,1755 Owon P l b (800) 322.1 128 Ldn~sler , PA 17601

1 F~mncial Management Group, L~,-J S.CurIt&s ~ r i n ~ c r k m s through FSC SIKYrll~es C ~ N ~ ~ I O ~ 1755 Oregon Pike A Rsgbtemd Bmkbr/Cmaler Mmnbar NASD Member SIPC

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Compaq_OwnerHighlight

Insmame Manual W e have m t l y begun to prt together the contents fo r our Innuance Sezvioes Manual. 'Ihe purpose is to have the necessary information to help all -T~S becoane familiar w i t h the procedures for all of our primary insurance carriers. It w i l l be an easy reference guide to:

1) Underwriting -ts 2) Prduc ts & Carriers 3) Processing Procedures 4) Contact Persons 5) Ccanpensation

My gcal is to have this in your hands w i t h i n 30-45 days. This w i l l help al l of us w r i t e mre bsuraxe w i t h less effort. -Stan Qtm%cm

P l a n n h Demrtmnt A f t e r the f i r s t week of operation the Planning Department has received a plan fo r $1500.00 from Scott Robertson and R i M ~ermn- -Congra tu l a t i ons . If anyone would like same ideas on h m to use our plan, they would be mre than happy to share saane of t h e i r ideas. --Stan Qterkone

Retirement Plan For a l l persons awaiting cxn Retirement Plan, I m y have hit the ja-! I am s tar t ing to negotiate ard recruit the thathas developed the retirement plan for a MAJOR brokerage house. mis plan is regarded as one of the best in the irdustry. L e t s keep our fingers crossed. --Stan Qtexkone

-

New Off ice Potential W e have begun talks w i t h a m j o r Redl Estate finn in York PA that w i s h e s us to sydicate a new building in the dm- area. They are very interest4 in taking this project into Financial Senrice Center w i t h FM; as a canpany sponsor and tenant. W e w i l l be lcoking to &t planners and brokers for that area. Anyone w i t h contacts should contact myself o r Bab Kauffman. Your help is greatly appreciated. -Stan Caterbone

Real Estate Fruiects I have secured a source of mortaaae funds fo r lame real estate miects. 2

- -

million and above. Any persons having any- in- in f'L-iaiking'or refinancing such projects m y be good p-. 'Ihere are finders fees available. C a l l m e i f you need any more information. Available in all states. -Stan Qte?&one

Marketins Seminars Anyone who is plarvling Seminars for t he i r marketing plan please contact Alan Loss. Seminars tha t are available:

I 1) Half-Time Seminar 2) Successful Money MaMgement Seminar 3) Product Sponsored Seminar





Meetins A brief reminder that an office meeting is s&eduled for 8:30-10:OO AM i n our conference rwm this Wednesday April 15th, and also in two weeks on Wednecry April 29th. -Bob Kauffman

Board of Directors ?his week vour board of directors w i l l be disa~~~ing with the m p r a t e attorney the c o r e form for us to:

1) Fersue wntxacts w i t h represa-katives autside of PA. 2) Provide an Equity Participation prcqram for F?n%cers. 3) m e -type capital raising for other locations with& violating certain security laws.

It remains an exciting time, as this new business begins to take form. So marry apportunities, so mch to do, so mch to get organized and developed. Is it fun! -Bob X a u f m

-t Assets in the IF'S W i t v Pool are nclw in all capitdl letters, rather than



6 Month 1 Year 2 Year 3 Year 4 Year 5 Year 7 Year 10 Year

Other 0's Available 10 Year Zero Csupon $500 4/l/97 Yeild 7.90% olll Mark if interested.

l&u~ C. T. -, ex-divisional mger of ID6/AM E ' lamjest office, has joined FK. Tan w i l l be developing an office in MN/St. Paul as well as d t i n g nationdlly for m.

Barry Schuttler and Bob Kauffman are intexviewhg and prepr jng to bagin an -type office in l?X@s% area. W e plan to raise mney in the same manner as in PA and use the same basi~marketing~lan.

Thmas Asselin of Cleanvataer, Florida has joined FIG. Tcan mrked with me in Florida and was a tap p w at ICE, and FSC.

As of early today, he reahed a negvtiated accord with n i k k m d - a of Wash. D.C. to be an: new b-er. We w i l l finalize our agreement x + b a we have final contracts and have ampleted our due diligence on their amp2ury.

Please keep an: offices as dean and neat as pcesible, it says the right things to cur clients.

m e Qooked Oak Rmmacy, Inc. is a soall d t y dnag store with prsonal service. Prescription piclaq .and delivery service to our office is available for ycur wnvience. Also those who are in a hurry and tiant wmethirg different they have delicia sandwiches by Kelly's Deli. They are lccated just a short distance f m our office in Qwlced OakVillage. Store h m are 9 to 6 weekdays and 9 to 1 on Saturday. mir @one mm$er is 560-1710.




MINUTES OF THE 4/16/87 MEETING OF THE BOARD OF DIRECTORS

The Board of Directors Meeting was held at the offices of McNees, Wallace and Nurick, 100 Pine Street, Harrisburg, Pennsylvania on the 16th day of April, 1987.

PRESENT : Robert Long Robert Kauffman P. Alan Loss Stanley J. Caterbone Michael Hartlett

I Jeffrey Jamouneau, Esq. constituting a quorum of the Board.

TOPICS DISCUSSED

Corporate Structure for National Expansion Because of the growth potential on a national level, we needed to research the alternatives to our present organizational structure that would allow additional equity participation from other large groups, ie. Barry Schuttler

Tom Turner

Form FMG National, Inc. This entity would own 100% of Hubbard/Brown Stock. FMG, Ltd. would retain 100% ownership of FMG National, Inc.

The above would be conducive for equity participation ' and also foz marketing the concept.








The followir~g topics will be consj.dered for shareholder vote within the next thirty days:

Formation of FMG National Inc. Directors Liability Exemption of By Laws for above Closing current offering A 5:l Stock Split

~ e % f r e y Jamouneau advised on subjects of the R.I.A. %

P. Alan Loss adjourned the meeting at 10:15 a.m.




HARSCO Corporation - Company Overview http://www.harsco.com/about/

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Company Overview

Harsco Corporation is a diversified, worldwide industrial services company. We are market leaders in each of our select business groups, operate in over 40 countries, and employ more than 21,000 people worldwide. Our businesses serve some of theworlds largest and most essential industries, including non-residential construction,steel and metals, energy, and railways. Our 2006 revenues totaled $3.4 billion,over 60% of which were generated internationally.

We work in seamless, long-term partnerships with the top customers in each of our markets. We bring an unparalleled range of resources, technology and experience to every requirement. And we reward our stockholders with a predictable and direct return on their investment with one of the longest dividend traditions of any publicly-traded company, dating back to 1939.

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2006 Harsco Corporation. All Rights Reserved.









. . . From the &sk of

ROBERT 0. ACKERMAN

519 CENTRAL AVE. HIGHLAND PARK, IL 60035 (312)433-4500 ii


PLANNER'S SECURITIES CONSULTING SERVICES

Planner's Securities Consulting Services offers the independence and expertise to help the client:

1. Develop an INVESTMENT PLAN

2. Determine the criteria for selection of an INVESTMENT MANAGER

3. Evaluate investment managers, presenting only those who can meet investment plan's needs

4. Monitor these investment managers' performances within customer set parameters

5. Monitor monthly detail reports

Our structured approach saves a plan's sponsor, trustees or individuals time and effort and allows them to retain control over asset management.








PTY.

~ ~ t ~ t f e e i s b a t e d o n t h e m a r k e t ~ ~ l o l u e d the. account, hrdudlng tush. as shown on fhe lnltlal and gUatW oppratsd a cutodlan bank octhrity 4. .Th;e maw auement tee k d e t e c m i n e d - m t to the f o l m scheduk .

.85%onnext S I . ~ ~ ~ X K K ) C ~ M O ~ ~ ~ ~ V O ~ ~ . .

-75% on next s i m m o f ~orketva~ue ' .

.65% on nad ' ~1.OObXXKJ 0f;MarketWil~e

-6% on next s l ~ I . l O O C 4 Market Value

R X B ) I ~ E m R T m l m (~axabie or Non TcKable)

5 of 1% of Maket Value

Fees are prepoyable quatecly. @demge may be &ed and allocated per ciient )nmuctlons







INVESTMENT MANAGER Dataform

i

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Name CUMBERLAND ADVISORS, PTY.

Address 614 LANDIS AVENUE

city/~tate/Zip VINELAND. NEW JERSEY 08360

Ownership PARTNERSHIP

e

V t Mutual Funds Managed: CUMBERLAND GROWTH FUND

Telephone 800-257-7013 Contact Name DONALD SULAM Contact Name SUZANNE GREENBERG

Date Founded .JUNE 197 3

Affiliation NONE

Feestructure SEE ATTACHED FEE SCHEDULE

z

3

- In-House Co-Mingled Funds: .

Minimum Tax-Exempt Taxable Account Size: S100.000

Equity Balanced Fixed Cash Manage: Only Acwunts Income [ia Management (7 Other: MUNICIPAL BONDS

Corporate Government International Capital Markets Used: Stock lxl Bond Bond (7 Cash IXI Securities (7

Minimum Account 1 Special Services (check one): Active Passive N I A Size (specify):

Minimum Tax-Exempt Taxable Fee: $1.500

I Real Estate Equity Futures Options Other: CD' S

Asset Mix in All jEqJy Accounts as of Max Equity 100 % Min. Equity 0 %

Bond lmmunization/Bond Dedication

Municipal Bonds

Socially Sensitive (if asked, will not invest in "sin" stocks) Convertible Preferreds

- - - - -

Convertible Bonds

Government Bonds

INVESTMENT STYLE: attach statement of investment philosophy and style for each type of management.

f send a copy o f your current marketing piece, contract(s), ADV andfiscal report. @ 1886 Richard SchlMMh h Awcdates. Ud. The lnlonnatbn provided haiein la oblalned lrom the investment manager named herein .nd Publkly lvailaMe .wroes and la bePsMd to be rdiaMe, bul ma mpwmbtlon or wananly is made w to ks accuracy or axnpleteness.


1 1 u v c 3 I MEN I MANAtikH Dataform

Name Swanson C a p i t a l Management Telephone (517) 790-1291 Address Contact 4600 Fashion Square Blvd. ~ t e 109 & 111 Name Stephen Swanson

Cit~/State/Zi~ Saginaw, M I 48608 Contact Name

Ownership Incorpora ted Date Founded 1973

Affiliation None Minimum Tax-Exempt Taxable Minimum Tax-Exempt Account Size: $100,000 Taxable $100.000 Fee: $1,000 $1,000 Fee Structure 1% F~~~~ - u o

In-House Co-Mingled Funds: 0

,

-

.

Minimum Account Special Services (check one): Active Passive N I A Size (specify):

Bond Immunization/Bond Dedication El Municipal Bonds El Socially Sensitive (if asked, will not invest in "sin" stodts) rn Convertible Preferreds a Convertible Bonds rn Government Bonds rn

INVESTMENT STYLE: Please a m h statement of investment philosophy and sty* for each of manawment. nt i "fe rend a mpy of your current marketing piece, wntract(s), ADV and f seal report.

I d , 0 1 s f l lchd SChlmMh I ate^, M. Th. lnform6lbn pmvldad IwreIn b obtained fmm the inwamdnt mamger named herem ~ ~ ~ n W * ~ . . ~ b b e ~ t ~ b e r e ~ s b l e ~ b u l m ~ t l o n o r w ~ ~ k m & ~ t o ~ t s - ~ o r a m p l e f -

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INVESTMENT MANAGER Dataform

Name Van Deventer & Hoch 420 North Brand Boulevard, Suite 405

Address Glendale, CA 91203

Feestructure 2% first $100,000; 1% next $200,000; 3/4% next $200,000: 2/3% all over $500,000

(818) 247-5330 Telephone (213) 245 - 7461 Contact Name Richard A. Snyders Contact

cin//State/zip 1 Name

Equity Balanced Fixed Cash Manage: Only Accounts Income Management Other:

Corporate Government International Capital Markets Used: Stock Bond Bond Cash [XI Securities a

Real Estate Equity Futures Options Other:

Asset Mix in Al l in/ Accounts as of n/a Max Equity % Min. Equity %

Mutual Funds Managed: none

Ownership Chemical New York Cor~oration

In-House Co-Mingled Funds: none

Date Founded 1969

Minimum Account Special Services (check one): Active Passive N/A Size (specify):

Bond Irnmunization/Bond Dedication I3

Municipal Bonds [7 Ed a Socially Sensitive (if asked, will not invest in "sin" stocks) Convertible Preferreds rn

Convertible Bonds El I3 0 Government Bonds Ed 0

INVESTMENT STYLE: ease attach statement of investment philosophy and style for ewh type of management. a- M a copy of your current marketing piece, contractls), ADV and fiscal report.

01986 Richud Schimarth &ksoda(es. m. ~ h s Infanutbn prov~ed m h is obtained fmm the lnvwtmnr manager named herem ."d prblidy .MIlabb wrcw mnd b belle& to be rel&e. bul m representabon a wanamy k made as to its accuracy aampkrtemtss.

Affiliation Minimum Tax-Exempt Taxable ~ccoun t Size: $100,000 $100,000

Minimum Tax-Exempt Taxable Fee: (annual) $2.000 $2,000


Van Deuenier 81 Hoch 4.0 North Brand Boulevard ~1enda.k. California 9120) (213) 247-5330/24;

Id Investment Counsel FEE SCHEDULE

Fees are charged QUARTERLY in advance using the following W A L formula:

Portfolio Fee as a % of Value portfolio Value

First $100,000 2%

Next $200,000 1%

Next $200,000 3/4 9

Amounts Over $500,000 2/39

Examples of V A L Fees:

Portfolio Annual Fee as a % of Value Fee portfolio Value

750,000 7,167 0.96

I 1,000,000 8,833 0.88

I 2,000,000 15,500 0.78 3,500,000 25,500 0.73 I 5,000,000 35,500 0.71 I pINIMUM ANNUAL FEE: $2,000 PER YEAR I Note: No start-up or termination charses i I I I I Advanced Media Group Page 15 of 21 10/05/2007

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PENSION AND PROFIT SHARING COLLECTIVE INVESTMENT FUND

REPORT ON EXAMINATIONS OF FINANCIAL STATEMENTS

for the years ended December 31, 1986 and 1985


To the Board of Directors

~ari-isburg, Pennsylvania

We have examined the statements of assets and liabilities of the Pension and Profit Sharing Collective Investment Fund as of December 31. 1986 and 1985, including the portfolio of investments as of December 31, 1986, and the related statements of operations and changes in net assets for the years then ended. Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included confirmation of investments held for the account of the fund by the custodians, and such tests of the accounting records and such other auditing procedures as we con- sidered necessary in the circumstances.

.In our opinion, the financial statements referred to above present fairly the financial position of the Pension and Pro- fit Sharing Collective Investment Fund as of December 31, 1986 and 1985, and the results of its operations and the changes in its net assets for the years then ended, in conformity with generally accepted accounting principles applied on a consistent basis.

We have also previously examined. in accordance with generally accepted auditing standards. the financial statements of the fund for each of the three years in the period ended December 31, 1984; and we expressed unqualified opinions on those financial statements. In our opinion, the financial information set forth in Note 4 to the financial statements for each of the five years in the period ended December 31, 1986, is fairly stated in all material respects in relation to the financial statements from which it has been derived.

March 19. 1987


L , 7 6 ',."- ,f&Q I . . . -. .. . , . :.-::r- - ;... .?.- 2 : ' ? ,

.:$? PENSION AND P R O F I T S H A R I N & ' " , . - -&:% ;I v, - ! . ! : ,2 .u- COLLECTIVE INVESTMENT FUND ... I

h ... . _...

STATEMENTS OF A S S E T S AND L I A B I L I T I E S "// !

...,. .

December 31, 1986 and 1985

A S S E T S : Investments at value (cost

$126,174,490 and $125,472,567, respectively)

Cash Accrued interest and dividends

receivable

Total assets

LIABILITIES: Income due participants for month

of December 1986, payable January 1, 1987 at rate of $.697 per unit and for month of December 1985, payable January 1, 1986 at rate of S.800 per unit

Accrued expenses

Total liabilities

NET ASSETS

Net assets are represented by: Funds applicable to 1,093,410 units

outstanding, equivalent to $131.00 per unit in 1986,,and to 1,174,423 units outstanding equivalent to $121.81 per unit in 1985:

Consisting of: Amounts invested by

participating trusts 111,304,255 116,450,421 Accumulated gain on securities

sold or redeemed 24,250,255 13,163,605 ' Unrealized appreciation

of investments 15,432,951 15,944,284 Excess of accumulated redemption

value of units redeemed over participants' cost (7,778,196) (2,520,983)

Undistributed net investment income 28,780 16,695

$143,238,045 $143,054,022 See accompanying notes to financial statements.


PENSION AND PROFIT SHARING COLLECTIVE INVESTMENT FUND

STATEMENTS OF OPERATIONS


INVESTMENT INCOME: Interest

Dividends

Less investment advisory fees

Net investment income

REALIZED AND UNREALIZED GAINS ON INVESTMENTS r

Realized.gain from security transactions (exclusive of short-term investments)~

- Proceeds from sales 46,156,866 32,383,816

Cost of securities.aold 35,070,216 29,263,026

Net realized gain 11,086,650' 3,120,790

Unrealized appreciation of investments:

Beginning of year

End of year 15,432,951 15,944,284

(Decrease) increase in unrealized appreciation (511,333)' 13,715,308

Net realized and unrealized gains on investments $10,575,317 $l6,896,09B

See accompanying notes to financial statements.

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.i- . ... - :t..:PENSION AND PROFIT SHARING..- COLLECTIVE INVESTMENT FUND : 2 f

- 1

STATEMENTS-OF CHANGES IN NET ASSETS


FROM INVESTMENT ACTIVITIES: Net investment income

Distribution of net investment income to participants

Net realized gain from security transactions

(Decrease) increase in unrealized appreciation of investments

Increase in net assets derived from invest-

, ment activities

FROM PARTICIPANT UNIT TRANSACTIONS: Net proceeds from sales of units

(94,412 and 131,674 units, respectively ) 12,304,002 1S,040,381

Paid for units redeemed (175,427 and 132,950 units, respectively) (22,707,381) (15,047,521

Decrease in net assets derived from participant unit transactions (10,403,379) (7,13

Increase in net assets 184,023 16,903,83

NET ASSETS: Beginning of year

End of year $1431238,045 $143,054,02

See accompanying notes to financial statements.

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NOTES TO FINANCIAL STATEHENTS, Cont inued

2. I n v e s t m e n t s : i

/. : ..: / , A summary of i n v e s t m e n t s is a s f o l l o w s : - . . .- . .. . : _ _ _ -

December 31, 1986 Cost -

Value -

Decanber 31, 1985 Cost - - Value

fioney market funds $ 4,427,800 $ 4,427,800 $ 6,399,600 $ 6,399,t Bonds, debentures

and notes: U.S. and foreign

governnent obligations 35,103,995 39,445,939 34,665,221 37,598,:

Corporate bonds, notes and conver- t ible debentures $ 5,049,732 $ 5,774,937 $ 9,738,720 $ 10,341,'

Carmen and preferred s tocks 55,056,018 65,421,820 49,214,679 61,623,t

Insurance group annuity contracts 26,536,945 26,536,945 25,454,347 25,454,

P u r c h a s e s and sales of s e c u r i t i e s o t h e r t h a n Un i t ed S t a t e s Government o b l i g a t i o n s a g g r e g a t e d 536,971,281 and $34,885,320 i n 1986, and $23,754,759 and $22,638,093 i n 1985, r e s p e c t i v e l y . P u r c h a s e s and sales o f U n i t e d S t a t e s Government o b l i g a t i o n s , o t h e r t h a n s h o r t - t e r m T r e a s u r y b i l l s , a g g r e g a t e d $887,762 and $300,000 i n 1986 a n d $887,761 and 51,000,349 i n 1985, r e s p e c t i v e l y .

Con t inued

6


1986 - Lancaster Newspapers Advertisement for Finanancial Management Group, Ltd.,April 14, 1987 - FMG Newsletter re: Stan J. Caterbones Initiatives including the York PA Real Estate Deal and the Mortgage Banking BusinessMarch 24, 1987 - FMG Newsletter re Certificate of Deposit Rates (higher than Fulton Bank and other local banks) and the recruitment of Tom Turner, the largest office of IDS/American Express in Minneapolis, MNApril 16, 1987 Financial Management Group Board of Directors re: National Expansion and 5 for 1 Stock SplitHARSCO - Company OverviewJuly 13, 1987 - Note from Robert Ackerman of Planners Securities Group who prepared the proposal for Stan J. Caterbone of Finanancial Management Group, Ltd., to present to the Board of Directors of HARSCO for investment advisory services for the $285 Million Pension FundPlanners Securities Group Consulting Services and Investment Advisory ServicesCumberland Advisors Fee ScheduleSwanson Capital Management Fee ScheduleVan Deventer & Hock Management Fee Schedule1986 Audited Financial Statement of HARSCO Pension Fund

FMG Board - Newletter - Harsco - PA Law Review 1987

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Transcript of FMG Board - Newletter - Harsco - PA Law Review 1987