FPA of Greater Indiana
8:30 a.m.
Minutes for November 9, 2001 Board Meeting
Doug, Scott, Gordon, Karen, Brian, Brent, Matt, Judy, and Chris
CALL TO ORDER: Brent called to order with a general welcome and mention of a detailed agenda for today’s meeting. Brent also gave overview of status of IBJ membership ad and distributed sample copy to everyone for comment.
Comments on IBJ ad: more white space, include as insert in next newsletter, simplify text.
ATTENDANCE:
Present:Absent:
Brent EmerickMark Cade
Doug EhlenJeff Heck
Scott FergusonDavid Yearwood
Gordon HomesShirley Mueller
Karen KaneLisa Nordhoff
Brian MartinDick Bousum
Matt BurkeSteve Ritz
Judy SauersRhoda Israelov
Chris Herschfeld
MINUTES OF THE PREVIOUS MEETING: Chris read the minutes of the previous board meeting. A motion was made and seconded to approve the minutes as read. The motion carried.
TREASURER’S REPORT: Doug gave the treasurer’s report. As of August 31, 2001, $26,150 in balance with $36 in petty cash. Receipts YTD are $19,231 (budget $16,700). Disbursements YTD: $11,493 (budget $21,035). We’re ahead of budget!! Budgeted to be $13,000 balance by year end and should beat that. Monthly reimbursements from national: $1,300 per month. We’ve collected $525 from guests YTD at meetings. Received $1,500 from corporate affiliates YTD. $13,300 from renewels. $1,890 from new members. 2001 Forum generated $816 for FPA. $2,200 spent on conferences. Newsletter: $1,050 spent. $1,300 budgeted. (Way to go Judy!!!). Interest earned YTD: $625.
DIRECTOR’S, COMMITTEE & MISC. REPORTS:
(in order of discussion):
President-elect:
Brian gave brief overview of leadership conference. Emphasized need for board members to be in attendance and to be active. Mentioned new board members to be elected at general meeting on 11/30. Also mentioned the upcoming Strategic Planning meeting (to be scheduled on Friday, January 11, 2002. Location TBD).
Website:
Chris informed board of lack of development. Chris’s term as board member has ended but has agreed to focus solely on website for completion by Q1 2002.
President
Brent suggested the need to add to the Articles of Incorporation a list of all corporate resolutions currently in force. (Chris will follow up with Jeff. In the meantime, Chris will go through past minutes and accumulate resolutions to date). Brent also reviewed some interesting statistics from the Leadership conference. FPA of Greater Indiana has 417 members and 20% attend meetings regularly. Average age is 53. Average length of time in practice: 20% are 2-3 years; 15% are 1 year or less; 22% are over 10 years; 62% are less than 5 years. 381 of the 417 are “practicioners.” 294 of 417 have securities and insurance licenses. 263 of 417 are CFP designees. 43% have more than 15 years of experience. 70% are doing comprehensive planning. 50% or more are using primarily insurance and annuities products.
Brent suggested we spend some time and money to find out why the other 80% are not attending meetings. A resolution passed to spend $500 to get 2-3 volunteers to call all members and do a brief survey. Judy will work with Brent to organize questions and recruit volunteers.
Programs: Scott mentioned that Elaine Bedel is scheduled to talk on practice standards and Mike Stillwell, with Hank Herrmann, both of Waddell & Reed, will talk on Small Caps at our November 30 meeting. It was suggested that we have Doug get together a 1-hour backup presentation on the new tax law changes. Scott will check with Elaine to see if she can shorten her presentation. Scott mentioned how our speaker from last February called the market this year by recommending bonds. We will try to get him again as a speaker and also Morton Marcus of IU/IBJ fame. First 2002 meeting is February 15, 2002.
Newsletter: Judy mentioned that September 2002 meeting date should read September 20, 2002 not September 21.
No Public Relations Report
Government Affairs: Karen reported on several new legislative and regulatory matters including new Bush stimulus package being sent to Congress; IRS/Treasury working on tax relief for 9/11 terrorist attack.
Facilities: Gordon mentioned that we do not have a firm commitment for the use of the Conseco conference center for 2002. Scott, Gordon and Brian formed an ad-hoc committee to investigate our options and try to get commitment from Conseco for one more year.
Other Matters:
1)Forum 2002. Although it appears FPA is on the sponsorship list, the board has not formally approved because it is waiting on a brief writeup and our budget commitment.
2)Registration Table. It was agreed that we would have two tables for registration: one for members and one for “prospective members.”
3)New Board Positions: The following members’ terms have reached an end: Mark Cade, Chris Hirschfeld, Doug Ehlen, Judy Sauers, Dave Yearwood and Steve Pfancuff (resigned). 8 nominations were received and five members have been slated for 2002. Those five are: Jerry M. King, CFP; Greg Heldman, CPA; Howard Young, CFP; Gene Griffin, CFP (from Terre Haute); and Walter Williams, CFP.
Next Meetings:
Board:
April 19, 2002
August 16, 2002
October 11, 2002
General:
November 30, 2001
February 15, 2002
May 10, 2002
September 20, 2002
November 22, 2002