PRESIDENT’S MESSAGELINDA WEINRIB, CFP®President

Take time out for you! Life is a whirlwind between work and family with little time for us. Do you find yourself putting you on the back burner? 2015 FPA Illinois programs, networking and volunteer opportunities are ways to take care of yourself and your personal growth and not feel guilty!

Our new Chapter meeting format, venue and location caters to you. Our first meeting of the year focused on ways to grow your business with study groups afterward for networking and discussion on current practice management topics. Our May meeting will discuss retirement distribution strategies. I have

been doing financial planning for 18 years and still find it important to review alternatives. My clients range from frugal to spendthrift and everything in between. No one method serves all! Stay for one of the study groups after the session to discuss topics of importance to you and your practice. What better sounding board than your peers?

If you had 1 person you would like to meet or whose presentation you wouldn’t miss, who would that be? Forward the individual’s name or topic to Dee Farris, dee.farris@fpaillinois.org, or me, l_weinrib@yahoo.com. Our committee for the FPA Illinois Conference on Advanced Planning (CAP) is forming and all ideas and volunteers are welcome. We want the topics and presenters to be meaningful to you!

Take advantage of our alliance with the Chicago Council on Planned Giving. There are many synergies between the two organizations and their members can use the input of experienced planners. Take advantage of the negotiated discount to learn more about planned giving topics and issues. You will find that many of these relate to work you are or could be doing to help your client base. Contact Dee Farris, dee.farris@fpaillinois.org, for the discount code for CCPG events.

The women’s initiative is taking off. We had the first initial meeting in March and our first study group after our March Chapter meeting. Be one of the people instrumental in driving the program substance and core objectives. Your time commitment is up to you. It can be as little as 1 hour a quarter or several hours. Contact Sharon Egan, segan@nsinvest.com, or me if you are interested.

FPA members serve over 100,048 families with a $43 billion dollar economic base. We provide pro bono through Money Smart Week, Financial Planning Day and College of DuPage Senior Expo 2015 besides providing input on financial planning articles to the press. What our industry does is important!

Your Chapter Leaders and Ed Gjertsen, president, FPA National went to Springfield on April 29 for FPA Advocacy Day to speak with our elected representatives to promote FPA Illinois and the CFP designation.

Happy 20 Year Anniversary to the Foundation for Financial Planning! The Foundation provides core support to FPA Illinois pro bono activities including Money Smart Week and Financial Planning Day. We take for granted the financial planning steps to a longer term future. So many more people need our help and support—the elderly, the young, and the poor. Join the drive for financial literacy with your time or money, but join the drive to help those that need our help the most. Contact Randy Bruns for volunteer opportunities or Dee Farris for information on gifting.

Active versus passive investments has been a core topic in the investment industry. Do you want to be passive in promoting the importance of the CFP in the planning industry or take an active role? We know how important planning is to creating a viable retirement and future for families. Small things—an emailed idea or volunteering for 1 hour a year—could have a huge impact. Be active!

NEWS spring 2015 volume 16 issue 2

2MEMBER UPDATE

3SPRING FINANCIAL FORUM EXPANDED

4SPONSORS NEXGEN

5CALENDAR OF EVENTS

6-7COUNCIL NEWS

8FEATURED PARTNER: SIERRA MUTUAL FUNDS

9MONEY SMART WEEK RECAP

10NEW MEMBERS

MEMBER ANNIVERSARIES

WOMEN ADVISORS GROUP

2 SPRING 2015

2015 BOARD OF DIRECTORS

MEMBER UPDATE

CHAIRMAN – 2015Craig Larsen, CFP®(630) 762-8185craigrlarsen@gmail.com

PRESIDENT – 2015Linda Weinrib, CFP®(312) 263-5235l_weinrib@yahoo.com

PRESIDENT ELECT – 2015Jorie Pitt, CFP®(630) 762-8185joriepitt@ahcadvisors.com

SECRETARY/TREASURERDuane Dritlein, CPA(847) 902-4139dmdritlein@hotmail.com

DIRECTOR OF PUBLIC AWARENESSRandall Bruns, CFP®(630) 719-9222randy.bruns@hiptpartners.com

DIRECTOR OF MEMBERSHIPValerie Janke, CFP®(630) 245-1156vjanke@wradvisors.com

DIRECTOR – EDUCATION, ETHICS & PROFESSIONAL STANDARDSBrad Rosley, CFP®(630) 942-9007brad@fortunefinancialgroup.com

CO-CHAIR – EDUCATION, ETHICS & PROFESSIONAL STANDARDSStephen O’Hara, CFP®(847) 504-8400sohara@CLAFA.net

DIRECTOR OF PARTNERSHIPShara Fessler(602) 228-7665shara.fessler@colecapital.com

CO-DIRECTOR OF PARTNERSHIPLucas KraftLucaslkraft@gmail.com

PRESIDENT – CHICAGO LOOP COUNCILEric Westberg(630) 849-3419e.westberg@hotmail.com

PRESIDENT – NORTHWEST COUNCILThomas Howard, CFP®(847) 742-7360thoward@danoyes.com

PRESIDENT – NORTH SHORE COUNCILTad Gray, CFP®(312) 953-8990tadgray@me.com

PRESIDENT – OAK BROOK COUNCILLori Miller, CFP®(630) 690-0000ljmiller@lpl.com

PRESIDENT – SOUTH SUBURBAN COUNCILTerrence Heafey, CFP®(708) 590-6073theafey@isiswealthmanagement.com

CHAPTER EXECUTIVEDee Farris(847) 244-3691dee.farris@fpaillinois.org

COUNCIL EXECUTIVE – NORTH SHORE AND OAK BROOKKelly Zupan(312) 318-6412kzupan@fpailinois.org

Mission Statement

Inclusion: We will serve a broad, diverse membership

Member Development: Enhance the professional Development of our members through networking, education, and service opportunities

Vision Statement

To be the community that fosters the value of financial planning services.

To be the primary resource of support and information for our members, the public and the media.

Values

We demonstrate leadership by:

• Listening to each other and being fair and impartial;• Involving communities and respecting their input and opinions;• Treating each other with dignity and respect;• Broadening our cultural and social horizons beyond

our usual experiences;• Treating others with compassion and responsibility;• Fostering teamwork within and outside the Association;• Taking responsibility and accountability for our actions;• Producing timely and reliable data and information;• Encouraging innovation and recognizing contributions;• Creating a work environment that encourages input

and feedback;

• Embracing the idea of continual learning and training.

FPA OF ILLINOIS MISSION STATEMENT

FPA MEMBERS: GET (FREE) 1-ON-1 ADVICE ON HOW TO IMPROVE YOUR WEBSITE’S PERFORMANCE IN 30 MINUTESFPA members receive a free website consultation with FPA partner, Advisor Websites, where you can learn how to improve your site’s overall performance. The assessment will outline top opportunities to increase website traffic and leads, including search engine optimization, calls-to-action and the overall look and feel of your site.

More than 67% of financial advisors are not satisfied with their website’s performance… are you? Schedule a Website Assessment and spend 30 (or less) minutes with an Advisor Websites expert and learn how to improve your site’s performance.

As part of your assessment, a financial web expert from Advisor Websites will evaluate your current website and identify top opportunities to increase traffic and leads from your site.

Our team will review:

- Search engine optimization (how visitors find your website)

- Lead generation opportunities- Calls-to-action- Marketing offers- The overall look & feel of the site

Sign up at ow.ly/M3DmS.

SPRING FINANCIAL FORUM EXPANDEDCRAIG LARSEN, CFP®CHAIRMAN

This year, in order to offer our members even more value, the 2015 Spring Financial Forum has been expanded to include breakout sessions. Attendees will have 15 sessions to choose from, covering a wide variety of topics. The sessions will offer a host of opportunities for you to build on your financial planning skills, with the option to attend classes focused on practice management. No matter what your

interests, you will find high caliber sessions to choose from.

Marlena Lee from Dimensional Fund Advisors will speak on the topic of moving beyond market cap weighted investing, with a discussion about Smart Beta strategies.

Brown CPA Group will speak on Tax Planning and Executive Compensation

Live Oak Bank will cover the mechanics of financing acquisitions

Jeff Zaluda will cover asset protection for estates

Other sessions include

- Advanced techniques for using annuities with trusts

- Next wave of financial planning

- How to allocate to fixed income - Measuring risk vs. reward

- Investment implications of a rising interest rate environment

- A planners guide to cash balance plans

- Incorporating behavioral finance into your practice

- Real world technology for advisors - panel

- How to build Center of Influence relationships - panel

The Forum will take place on May 20 at the UBS Center in Chicago. Space is limited and the event is filling up fast. Make sure to visit fpaillinois.org/springforum and reserve your spot.

FPAILLINOIS.ORG 3

WEDNESDAY, MAY 20

2015 ANNUAL SPRING FORUM

REGISTER NOW: FPAILLINOIS.ORG/SPRINGFORUM

4

FPA OF ILLINOIS 2015 SPONSORS

PLATINUM SPONSORSSierra Mutual FundsTrinity Metzgentrinity@sierrainvestment.com(310) 452-1887

GOLD SPONSORSAdvyzonMatt BraatzMatthew.braatz@yhlsoft.com(312) 651-6025

Charles Schwab & Co., Inc.Kent TkachKent.tkach@schwab.com(312) 931-1538

ChubbLionel Leellee@chubb.com(630) 335-7225

Cole CapitalClaude McLeanCMcLean@colecapital.com(602) 778-6101

Keeley Investment Corp.Scott KraseSKrase@kic-kamco.com(773) 255-0411

Morningstar, Inc.Julianna Diinehartjulianna.dinehart@morningstar.com(312) 696-6240

Performance TrustPatt Longplong@performancetrust.com(312) 521-1639

SEISteven Millersrmiller@SEIC.com(610) 676-3884

Walton International Group (USA), Inc.Dan Kohanzodkohanzo@walton.com(312) 521-9543

CAP PREMIUM SPONSORSLincoln FinancialChris DeacyChristopher.Deacy@lfd.com(630) 277-0540

CAP PLANNERS ROW SPONSORSSIT InvestmentsSteve Benjaminspb@sitinvest.com(612) 359-2554

SPRING FORUM SPONSORSHavener Capital Partners LLCStacy Havenerstacy@havenercapital.com(401) 314-0431 Jefferson NationalKatharine Torreskcoppola@jeffnat.com(502) 213-2962 Kaplan ProfessionalMichelle ChristophersonMichelle.Christopherson@kaplan.com(608) 779-5599

Mairs & Power FundsAnnette Lancealance@mairsandpower.com(651) 222-8478

T. Rowe PriceMark WhiskeymanMark_whiskeyman@troweprice.com(410) 345-4596

SPRING 2015

NEXGENDUSTIN OBHAS, CFP®, AIF®CHAIR, NEXGEN

I’ve been part of the Illinois NexGen board since its inception. We’ve had a lot of participation and, what I think, are worthwhile events.

Our very first event that I believe may have been our best yet involved a few prominent local advisors (many of them deeply involved with the FPA) for a panel discussion that focused on their journey as planners and some of the mistakes they made, their greatest accomplishments, imparted words of wisdom for the NexGen crowd. It was a complete success and I wouldn’t be shocked to see a similar event in the future.

As the year progressed, we brought a marketing expert to help us better promote our firm, a social media consultant to widen our base, and sprinkled in some networking events in between.

The following year we focused our efforts on gaining a better understanding of our fellow young advisors. We started the year learning about one another: their roles within their respective firms, why they pursued financial planning, challenges they faced, etc. Future events helped create awareness on some of the biggest obstacles young planners face.

I’m excited about what’s to come this year. At our next event will be the first of two (maybe three) sessions featuring Gary Mitchiner, a growth coach that aims to help young planners overcome some of the most common hurdles young advisors face today. Gary’s mission is to help develop successful skill sets such as:

- Establishing and enhancing their personal brand and using it to meet prospective clients.

- Into to Promise Management—the fastest way to build trust with others

- Networking of help—how to build one that will last for a career

It’s time to focus on bettering ourselves and finding a wider network of contacts to share our knowledge and expertise. This is about growing our industry for generations to come, and making a difference in people’s lives, which, to me, is the best part of this job.

We hope you can join us for our next event, and many more to come.

FPAILLINOIS.ORG 5

2015 CALENDAR OF UPCOMING EVENTS

DAY AND TIME COUNCIL DESCRIPTION SPEAKER LOCATION

APRIL F 24 7:30 A.M. Oak Brook Keeping Clients as Investors Not Speculators Naperville Country Club Export to Your Calendar W 29 7:30 - 11:30 A.M. North Shore LTC Insurance Developments: Highland Park Country Club Traditional vs Hybrid

MAY W 6 8:00 - 11:30 A.M. Chapter Latest practices around retirement planning Jonathon Guyton 222 South Riverside Plaza, Suite 1900, Chicago W 6 5:00 - 6:30 P.M. NexGen 222 South Riverside Plaza, Chicago M11 6:00 - 7:30 P.M. Women Advisors Group Northwestern University, Chicago W 20 8:00 A.M. - 5:00 P.M. Chapter Spring Forum Various UBS Conference Center

JUNE W 3 5:30 - 7:30 P.M. Oak Brook Oak Brook Social Event Granite City Food & Brewery,

Napervillle TH 4 4:30 - 6:30 P.M. North Shore Thank God it’s Thursday Social Event T 9 7:30 - 10:00 A.M. South Suburban Social Security Planning: Overview and Discussion Andrew Salata Tinley Park Convention Center, Tinley Park, IL W17 11:00 A.M. Chicago Loop Ethical Challenges Dan Candura Northwestern University, Chicago

JULY W 8 11:30 A.M. Chicago Loop Social Security Planning: Overview and Discussion Andrew Salata

AUGUST F 21 7:30 A.M. Oak Brook Bridging the Communications Gap Between Naperville Country Club Generations M 31 Chapter CAP Preconference - Ethics Lisle/Naperville Hilton

SEPTEMBER T 1 8:00 A.M. - 5:00 P.M. Chapter CAP - Day One Various Lisle/Naperville Hilton W 2 8:00 A.M. - 5:00 P.M. Chapter CAP - Day Two Various Lisle/Naperville Hilton W 9 11:30 A.M. Chicago Loop TBD TH 24 8:00 - 11:30 A.M. Chapter Examining and planning the use of insurance John Wheeler 222 South Riverside Plaza, within a financial plan Suite 1900, Chicago W 30 7:30 - 11:30 A.M. North Shore Update on Employee Benefit Planning Practices Highland Park Country Club

OCTOBER T 6 7:30 - 10:00 A.M. South Suburban TBD Tinley Park Convention Center, Tinley Park, IL F 30 7:30 A.M. Oak Brook Economic Outlook - Monetary Revenue Policy and Naperville Country Club Fiscal Surprise Speaker

NOVEMBER T 3 8:00 - 3:30 P.M. Chapter Coaching to your optimal outcomes Tracy Beckes 222 South Riverside Plaza, Suite 1900, Chicago F 13 11:30 A.M. Chicago Loop Update with the Fed Bill Strauss Federal Reserve Bank of Chicago W 18 10:30 A.M. - 1:30 P.M. North Shore Tax Advantaged Investment Planning Export Highland Park Country Club to our Calendar

DECEMBER T 8 7:30 - 10 A.M. South Suburban TBD Tinley Park Convention Center, Tinley Park, IL

The chapter board plans to visit all councils this year. Our most recent board meeting was held following an Oak Brook Council event on April 24.

REPORT FROM

NORTH SHORE COUNCILMONTE LUZADDER, CFA, CFP®, CRC DIRECTOR OF COMMUNICATIONS, NORTH SHORE COUNCIL

On February 25th the North Shore Council hosted a luncheon event that included presentations by representatives from JP Morgan Funds on two current topics: “2015 Market Update” presented by James Liu, Executive Director and Global Market Strategist, and “Trending Issues in Retirement Planning” presented by Sharon Carson, Retirement Strategist.

Mr. Liu’s presentation focused on three current themes: 1) “What should we be buying now?”; 2) “What is the Fed going to do?”; and, 3) International investing. In brief, JPM Funds still favor U.S. equities in their investment allocations despite the recent negative impacts to earnings that have been caused by a stronger dollar and a sharp drop in oil prices. JPM views the overall US equity market as “fully valued”, but still sees good value in certain sectors, e.g. Consumer Discretionary and Technology. Mr. Liu’s team believes the Federal Reserve will proceed with their anticipated tightening of the Fed Funds Rate beginning in June or September, but the process is expected to be very gradual. They do not foresee a sharp rise in market rates of interest, and are forecasting the yield on the 10-yr Treasury to be ~2.5% by year-end. In general, JPM sees most developed market equities overseas to be attractive due to relatively lower valuations compared to the U.S.

Ms. Carson’s presentation was based on her department’s research that goes into the JPM Funds publication titled “Guide to Retirement.” She focused her attention on “5 myths about retirement,” healthcare costs in retirement, and recent developments in the field of long-term healthcare and related insurance. Her discussion of retirement myths centered on the mistaken beliefs many consumers have about what they can control that lead them into poor planning decisions, e.g.:

“I’ll continue to work during retirement.”

“I’m not going to live that long.”

“ I should take my Social Security benefits as early as possible.”

“All my expenses will go down in retirement.”

On the subject of healthcare Ms. Carson highlighted the relatively high inflation rate experienced in retirees’ healthcare costs. (A detailed discussion of this topic is available in the JPM Funds’ white paper titled “Healthcare Costs in Retirement.” She also summarized the key impacts to Medicare from the Affordable Care Act as follows: 1) Generates new tax revenue for Medicare; 2) Cut payments to some Medicare providers; and, 3) Froze until 2019 the current income limits for taxpayers that trigger successively higher Medicare premiums.

In the area of long-term care she noted some of the forces that are shaping changes to the type and pricing of insurance policies that carriers are offering. Insurance companies are experiencing far fewer policy cancellations than originally projected and the statistics on number of elderly needing long-term care have continued to steadily rise. The statistics on length of long-term care insurance claims has also been shifting with 1/3 of claims lasting less than 6 months while 1 in 10 claims last greater than 5 years.

REPORT FROM

CHICAGO LOOP COUNCILJENNIFER GOULD, CFP®, CRPC®

The Chicago Loop Council is excited that spring has sprung…well it did spring and now has de-sprung, but we are hoping it will spring again!

We started the year on a cold day in early January learning what was up in the muni market from our friend Dan Close at Nuveen. Nuveen’s innovative commentary kicked the year off well, allowing us to try and navigate the markets not knowing what was going to happen with rates and credit in the upcoming year.

February was still cold and we were warmed by the Medicare anecdotes of Erin Weir from AgeOptions. Erin knocked it out of the park when it came to answering complex questions about Medicare as well as some not-so-complex tips for us to share with our clients. AgeOptions is a great resource for you when assisting clients that are going through the labyrinth of paperwork, deadlines, and deductibles.

March came in like a lion and left us like a lamb, as the saying goes. In between, however, the Loop Council was impressed by the stylings of Ross McCullagh of BlackRock. Ross discussed the Exchange Traded Fund (ETF) market, how it operates, how it is different, how ETFs can benefit our portfolios, and some of the efficiencies that our clients will appreciate.

After the spring forum, we are looking forward to continuing the year with great programming. That being said, we are “springing” into our next Ethics program, provided by the talented Dan Candura of the Candura Group, LLC. Dan is a CERTIFIED FINANCIAL PLANNER™ practitioner and is founder of his own education and consulting firm. He provides ethics training across the United States through in-person courses and webinars in addition to his financial planning work. Dan’s personality and innovative ways to capture our attention make the topic of ethics interesting. His June 17 session is a don’t-miss event and we look forward to seeing you.

Our social security presentation was a great success last year and we are bringing back Andrew Salata from the Social Security Administration to discuss the ins and outs of navigating our clients through the Social Security process. This event will be held on July 8, 2015. This event was a great one last year—register early!

We have some great things planned for the rest of the year. We will be forthcoming about our year-end tax planning lunch and learn when dates are solidified. Also, we look forward to our lunch and economic update with the Fed on November 13, 2015.

We look to our council members for ideas on what specifically interests you. We read your evaluations! We have some great ideas in the works based on your suggestions. We hope you keep them coming. Let the Loop Board know if you have any ideas. Enjoy your summer…if it ever arrives!

6 SPRING 2015

COUNCIL NEWS

The next meeting of the North Shore Council will be a breakfast event on Wednesday, April 29 from 7:30 – 10:30 a.m. at the Highland Park Country Club. Brian Gordon, CLTC, President of MAGA Ltd. will provide a detailed update on long-term care insurance titled: “Traditional vs Hybrid Plans” and “LTCi Industry Trend Watch.”

REPORT FROM

NORTHWEST COUNCILTOM HOWARD, CFP®PRESIDENT, NORTHWEST COUNCIL

Winter schedule delayed new programming for the Northwest segment of our FPA Chapter which presents a new opportunity for involvement.

It looks like we will be starting regular meetings in the Rockford/Quad Cities area scheduled for breakfast or lunch, 3-5 times annually.

For those closer to Elgin/Schaumburg we are planning study groups using the Journal of Financial Planning with a focus on one topic and an opportunity to discuss the month’s CPE quiz. When possible we will conference in the author for a Q&A.

Colleagues interested in either of these offerings should contact Tom Howard at toward@danoyes.com.

Looking forward to hearing from you!

REPORT FROM

OAK BROOK COUNCIL LORI MILLER, CFP®PRESIDENT, OAK BROOK COUNCIL

Happy Spring FPA readers! We just held our second quarterly breakfast gathering at our lovely Naperville Country Club location, and the nearly 50 attendees walked away with overwhelming positive comments and implementable ideas. Since the Feds have been telegraphing that QE is done, rates could rise (but when?), over six years of a Bull run, and the NASDAQ hitting a 15-year high, the stage may be set for more market volatility and emotional reactions from our clients. Our Behavioral Finance topic dealt with “Keeping Clients as Investors and not as Speculators”, and our two expert speakers gave us more confidence to help our clients stay the course. John Anderson, Managing Director for SEI in Practice Management Solutions Advisor Network identified how Goals Based Investing helps us overcome irrational client behavior and avoid the herding effect or overconfidence, and how to differentiate ourselves. Cheri Brooks, Sr. VP of Institutional Sales for Neuberger Berman Advisor Institute augmented the timely topic with evolving roles of the family members in family finance, highlighting communication and decision-making style differences between genders. She provided practical handouts to use with our clients like a Life Events Checklist, a Surviving Spouse Checklist, and Anticipating the Unexpected process, using real-life stories not unlike those we may hear in our

practices. Our Partner sponsors were Jeff Johnson from Sierra Funds and Scott Krase from Keeley Funds who tied in how their companies help provide solutions for emotional responses from investors.

We were honored to host our FPA state Board members for our regular meeting right afterwards, and our Oakbrook Council Board sat in to offer some ideas and learn more about the FPA IL activities. We have two more relevant and value-added breakfast sessions this year (Aug. 21 and Oct. 30), and encourage you to bring a colleague who has not attended an FPA Council session for free! You will find a friendly, inclusive atmosphere where you’ll never want to miss one again! You don’t want to miss the June 3rd Social Networking FPA Oakbrook event being held at our new Granite City restaurant in Naperville, from 5:30 p.m. until 7:30 p.m. This is an excellent opportunity to mingle and meet your FPA colleagues and business partners and share best practices to continue to grow your client base. I’ve discovered and learned so much asking questions of you all, and at professional FPA events like this is a great source for that knowledge, and fun!

Thanks for reading, and we look forward to seeing you at FPA Oakbrook soon!

REPORT FROM

SOUTH SUBURBAN COUNCILNANCY LADD, CFP®

On Tuesday, April 21, The FPA South Suburban Council had its meeting at Tinley Park Convention Center. Even though the group was small, Brent Schutte, Senior Investment Strategist and Portfolio Manager for BMO Asset Management U.S. led a wonderful discussion about the markets and the economy. There was plenty of time for interactive dialogue after Brent’s remarks.

Some of the thoughts that Brent shared were their shift several months ago from U.S. equities to more international, particularly Europe and Japan. This is due to economic improvement and government policies. He also spoke about over weighting emerging markets. The U.S. will continue to experience lots of volatility. The West Coast strike did affect the U.S. economy. The Fed is data dependent. We may see a 100-200 bps increase in interest rates. Therefore, investors should use active managers not indexes for fixed income. Investors should also employ options more and there is an opportunity for hedge funds. Brent sees returns in the stock market as between 6%-7% and bond returns between 2%-3%. Therefore, it is important for planners to set appropriate return expectations with their clients. He thinks that wage growth is coming due to labor shortages and the decline in the U6 unemployment rate. Bank lending is also increasing and funds are coming into the economy.

Our next meeting will be Tuesday, June 9, at the Tinley Park Convention Center at 7:30 a.m. The topic will be Social Security. Everyone is encouraged to attend our next dynamic presentation and to bring a guest.

7FPAILLINOIS.ORG

South Suburban Council held its first meeting of 2015 on April 21.

FPA Oakbrook Council board, sponsors and speaker enjoyed a fun experience on April 24.

Past performance is no guarantee of future results.

Since Inception 12/27/2011Since Inception 12/27/2011

The Sierra STraTegic income Fund

contact us for more information:

www.sierramutualfunds.com or 855-556-1295

The performance data quoted here represents past performance for Class R shares (symbol SSIRX), and are net of the total annual operating expenses of the Class R shares (see below). For performance numbers current to the most recent month end, please call toll-free 855-556-1295 or visit our website, www.sierramutualfunds.com. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate, so that investors’ shares, when redeemed, may be worth more or less than their original cost. The total annual operating expenses, including expenses of the underlying funds (estimated at 0.52% per year) are 1.48% for Class R. Please review the Fund’s prospectus for more information regarding the Fund’s fees and expenses.

* “Cumulative” performance from inception is the total increase in value of an investment in the Class R shares assuming reinvestment of dividends and capital gain distributions.

** “Bond Index” is the Barclays Capital U.S. Aggregate Bond Index, formerly called the “Lehman Aggregate Bond Index”, and is a broad-based index maintained by Barclays Capital that is often used to represent investment-grade bonds traded in the United States. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

Underlying Funds may invest in foreign emerging market countries that may have relatively unstable governments, weaker economies, and less-developed legal systems, which do not protect investors. In general, the price of a fixed income security falls when interest rates rise. Any strategy that includes inverse securities could cause the Fund to suffer significant losses. Underlying Fund investments in lower-quality bonds, known as high-yield or junk bonds, present greater risk than bonds of higher quality. Municipal securities are subject to the risk that legislative changes and economic developments may adversely affect the value of the Fund’s investments. REIT risks include declines from deteriorating economic conditions, changes in property value, and defaults by borrower. Underlying Funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations to adverse business or economic developments. In some instances it may be less expensive for an investor to invest in the Underlying Funds directly.

Our investment strategies have been specifically developed for retirees, those approaching retirement, and other conservative investors. During these turbulent times, we invite you to ask us for more details about our performance in both good times and Bear Market periods.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Sierra Strategic Income Fund. This and other informationabout the Fund is contained in the prospectus and should be read carefully before investing. The prospectus and other information can be obtained on our website, www.sierramutualfunds.com, or by calling toll free 855-556-1295. The Sierra Strategic Income Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC.

PMS 349 PMS 425

Invest wisely.

Sierra Strategic Income Fund from Inception 12/27/11 to 3/31/15

Sierra Strategic Income Fund

Barclays Capital U.S.Aggregate Bond Index**

2209-NLD-4/16/2015

PerFormance by Quarter, claSS r ShareS (SSIrX)

Year Q1 Q2 Q3 Q4 CalendarYear

Bond Index**

2012 +2.94% +0.79% +3.67% +1.75% +9.44% +4.21%

2013 +1.41% -1.24% -0.60% +0.83% +0.38% -2.02%

2014 +3.25% +3.41% -0.15% +0.35% +6.98% +5.97%

2015 +1.52%

As of 3/31/2015

Year-to-Date One Year Annualized Cumulative* Annualized Cumulative*

Sierra Strategic Income Fund class r +1.52% +5.19% +5.04% +15.91% +5.61% +19.49

bond Index** +1.61% +5.72% +3.10% +9.60% +3.14% +10.60

Latest Three Years Since Inception 12/27/2011

2012 2013 2014 2015

$120 -

$115 -

$110 -

$105 -

$100 -

-120

-115

-110

-105

-100

Money Smart Week® was once again a tremendous success for FPA-Illinois and its partners.

The College of DuPage Senior Expo 2015 kicked off the week’s activities as hundreds of local seniors attended workshops and received complimentary one-on-one financial planning consultations from our team of volunteer CFP® professionals. Thanks to a great marketing campaign weeks ahead of the event, attendees came well prepared with questions, financial statements, prior investment proposals, and even close friends who were in great need of quality financial advice!

On Monday FPA-Illinois and the Chicago Public Library hosted its 9th annual Money Smart Week® event with personal finance expert Terry Savage. More than 125 attendees listened to Terry present her “Savage Truths on Money” before receiving pro bono financial advice from CFP® professionals, courtesy of FPA-Illinois. Our very own Don Duncan (D3 Financial Counselors) also took the stage with Ms. Savage for a terrific demonstration on how to choose and work with the right financial planner.

Later that evening, Morningstar’s Director of Personal Finance Christine Benz stopped by the Wheaton Public Library to present “Investing Well at Every Life Stage” to a standing room only crowd. Benz offered valuable tips to jump-start an investment program,

save for college, and position a portfolio for a long and fruitful retirement. She also shared specific investment ideas and model portfolios based upon Morningstar’s bottom-up, independent investment research.

MONEY SMART WEEK® RECAPRANDY BRUNS, CFP® DIRECTOR OF PUBLIC AWARENESS

FPAILLINOIS.ORG 9Item # ADP71732CACZH.indd Job #

Page #CS09602-88 1 of 1

Spellcheck: NoColor Seps: YesFold Dummy: No

Round 2 Last Modified 10-14-2014 9:43 AM

TEAM

StudioPrev. Studio

Jorgensen, DoreenPitalo, Michael

SET

up

Bleed 4.5” x 7.25”

CONTE

NT

Placed Graphics Inks

LOG-AdvsrSrvcsPrf-BLK.eps (43.02%) BlackTraffic Mgr. Gina Turnbull Trim 4.25” x 7”

Art Director Kevin Nitsos Live None

Acct. Mgr. None Fonts ITC Franklin Gothic Std (Book, Me-dium, Demi Condensed; OpenType)

Graphics --

DETA

ILS Job Type Litho

Mech Scale 100%

Output Size None

Schwab Advisor Services serves independent investment advisors and includes the custody, trading, and support services of Schwab. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2014 Charles Schwab & Co., Inc. (“Schwab”). All rights reserved. Member SIPC. CS09602-88 (1212-8333) ADP71732ACZH (10/14)

EXPERIENCE THE SCHWAB DIFFERENCE.

schwabdifference.com

YOUR CLIENTS EXPECT THE BEST— YOU SHOULD, TOO.For 25 years, Schwab has provided Registered Investment Advisors (RIAs) with the trusted services and support needed to serve your clients and grow your business. We have the expertise, comprehensive offerings, and dedicated support that an RIA of your caliber deserves. With Schwab as your custodian, you have access to outstanding solutions—all at a premium value. To be the best, you need to work with an industry leader.

Schwab Advisor Services™ is proud to sponsor the FPA of Illinois.

ADP71732CACZH.indd 1 10/14/14 9:44 AM

In addition to these events several of our members hosted their own Money Smart Week® programs in their communities. FPA-Illinois was also excited to offer free financial planning consultations by appoint-ment at various libraries throughout the week. We’d like to extend a special thank you to all of those who participated in this year’s events:

Paul Alberts Jenifer Aronson Bill Billimoria Eric Billimoria

Eric Billimoria Randy Bruns Ronald Castrogiovanni Patrick Doland

John Duckworth Don Duncan Sharon Egan Adam Glassberg

Terry Heafey Tom Howard Chase Huang Valerie Janke

Monte Luzadder Jeff Manderscheid Lori Miller Ryan Pace

Randy Porzel Peg Quinn Brad Rosley John Wheeler

So much of this success could not have happened without our volunteers. If you’d like to participate in future pro bono opportunities with FPA-Illinois, we would love to hear from you! Please email Randy Bruns at randy.bruns@hiptpartners.com for more information.

The Wheaton Public Library’s Courtney Tedrick, Morningstar’s Christine Benz, and FPA’s Randy Bruns

Terry Savage Explains How to Find a Financial Planner

MEMBERS ANNIVERSARIES

NEW MEMBERS

Congratulations to members celebrating membership anniversaries

February 1 – April 15, 2015

25 YEARSThomas M. Adair, CFP®Portia S. Carmichael, CFP®John M. Dunk, CFP®Harold W. Gianopulos, Jr., CFP®Kenneth M. Kotylo, CFP®Richard J. Lusk, Jr., ChFC, CFP®

20 YEARSGwendolyn Kirkland, CFP®Richard J. Reinert, Jr.

15 YEARSColleen ChandlerThomas C. Davy, CFP®Karen L. Derose, CFP®, CRPC®Lisa P. Dickholtz, CFP®Dee FarrisKate B. Leipprandt, CFP®, CHFC, CLURichard S. Levitz, CFP®, CLU, ChFC, JDHeather Locus, CPA, CFP®Leonard T. Racine, Jr., CPA, CFP®, ADFAWilliam E. Richards, CFP®Mary P. Wesche, CFP®

10 YEARSGregory H. Bork, Jr.John T. Creel, CFP®Michael E. Gerhard, CFP®Michael N. Meyers, CFP®, MBAColin Rennich, CFP®Darrin J. Shallcross, Sr., CFP®, ChFC, CRPCKyle M. Smith, CFP®

5 YEARSJennifer L. Gould, CFP®, CRPC®Daniel J. SkeltonAnne L. Wieboldt, CFA, CFP®

Welcome to the 33 new members of FPA of Illinois

February 1 – April 15, 2015

CENTRAL ILLINOISDerek L. HutchisonZibo Li, CFP®Terry J. Luce, CFP® Zimo Yan

CHICAGO LOOPJaramee Finn, CFP®Vincent Florack, FRM Derek Ghia, CFP®Jeff GinKelly HewittBeau McBrideChristopher StrongAnjali JayakumarChase Patzer

GREATER OAK BROOKElizabeth D. Buffardi, CFP®Danielle M. Dahn, CFP® Ryan F. Kavois, CFP®Alex Lee, CFP® Mark J. Lucaccioni, CFP®Thomas M. Nolan, CFP®Brian TarroBen Jones

NORTH SHOREDaniel Feldstein, CFP®Phil Guerrero, CFP® Nannette KamienRobert D. Lyman, CFP® Jeffrey ReisMichael Resnick, CFP®

NORTHWESTEric MarzinkeScott ParkerFrank Anderson, CFP®

SOUTH SUBURBANJoshua KowalczykJames MarquezKevin Ryan

WOMEN ADVISORS GROUPSHARON EGAN, CFP®

The first meeting of the Women Advisor’s Group met on March 18th at Northwestern University Loop Campus. 24 female advisors met to talk about creating a women’s initiative within the FPA IL, and the future looks exciting for this group!!!!

Our speaker, Robin Ross, is President of R2 Consulting. She made several key points—the empowerment of women is the most profound change of our time, women control 80% of spending, and in the next decade will represent 37% of all High Net Worth people, controlling 1/3 of the wealth in this country.

We’re still in the early stages, but the consensus seems to be that we’ll have groups that meet around Chicagoland, and then once or twice a year we’ll have a general meeting with everyone, with a guest speaker or a group activity.

There was much feedback around the areas where women feel they are different from men and how to challenge ourselves to find ways to use our strengths to succeed in this male-dominated field.

Ideas for future initiatives:

- Leadership Development

- Sole Practitioners – establish and maintain Mastermind groups for the exchange of ideas

- Mentoring – help other women enter the field by acting as coaches and sounding boards

- Volunteering – helping women succeed with financial goals

- Identifying resources

- Book Club

The next meeting is May 11, also downtown, but after that you will see the calendar fill with dates around Chicago. If you are a female planner and want to join our group, please register with on our website, fpaillinois.org, and we’ll see you there! We welcome any and all ideas, and already see excitement building about what could be possible.

Co-chairs for the group are Jane Ott, President, North South Capital, and Sharon Egan, North Star Investment Management Corp.

10 SPRING 2015

5250 Grand Avenue, Suite 14PMB 205Gurnee, Illinois 60031

Phone: (847) 244-3691Toll free in Illinois: (800) 430-4237Fax: (866) 307-9665

fpaillinois.org

ADDRESS SERVICE REQUESTED

PRESORT STD

U.S. POSTAGE

PAID

PERMIT NO. 11

SPRING GROVE, IL

Use promo code AFBE15 for $50 off registration.

Register now at FPA-BE.org

The Largest Gathering for CFP® Professionals