FUND A LIFE YOU LOVE
Everyone Communicates Few Connect by John Maxwell Book of the Month

Everyone Communicates Few Connect by John Maxwell Book of the Month

All day long, we interact and communicate with others.... our family, friends, co-workers, The question is, are we connecting?  In this book, John Maxwell shares the Five Principles and Five Practices to develop the important skill of connecting. It is a skill you can learn and apply in your relationships to develop stronger and more rewarding relationships. 

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The P&G Shareholder Finally Wins!

The P&G Shareholder Finally Wins!

The P&G Shareholder Finally Wins!

Today, Procter & Gamble shareholders finally won.

It did not matter whether Nelson Peltz and Trian won or lost.

The bottom line is the Procter & Gamble shareholder has been holding the bag for 10 years. The performance of the company has been underwhelming. In quarterly meeting after quarterly meeting, management explained away the results, setting low targets, and explaining that they were in an endless series of restructuring moves.

For the first time, the board and senior management has finally sent a strong message back to the shareholder that, "Yes, you do matter."

With all this attention, we might now see the $30 to $40 per share upside that we always believed was achievable. We encourage Procter & Gamble shareholders to stay the course and enjoy the upside.

Procter & Gamble Employees Need to Take a Career Inventory

For Procter & Gamble employees, we encourage you to take an inventory and ask, “Are you better off remaining with the company?” For many employees, they are seeing an endless series of 70 hour weeks. They are also seeing an increased number of broken promises on career development, compensation, and upside on their stock options and restricted stock.

“Will my job be inside or outside Procter & Gamble in 3 years, 5 years, and 10 years?”

If you believe that your role will add more value outside of P&G, rather than inside, you do have work to do. It could take several months for your manager’s manager’s manager to finally let you know that your job no longer adds value for the consumer and the shareholder.

We encourage you not to wait for this information to come to you from above. You are much better off thinking through the value proposition between you and the Procter & Gamble consumer and shareholder, making sure that you have backup plans so that you can protect your career and your family’s financial interest.

If you are looking for help in making these kinds of evaluations and decisions, Lenox has helped P&G families navigate these types of changes over the last 15 years.

Don’t wait! Let us help.

Call us for a complimentary career and financial plan review.

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love.  

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Life happens.  Now what?

Life happens. Now what?

Life happens.  Now what?

How to own your life transitions!

Whoa.  What just happened!  Life can go along smoothly for months or years and then suddenly you find yourself amidst a significant life transition and faced with changes, challenges and a run of decisions to be made.  Even if the transition is positive, it can feel overwhelming.  This is a good time to have a sounding board –– the ear, thoughts and guidance of professionals who have experienced what you’re going through and who can lend real-world direction.

At Lenox, we put our full energies and expertise behind helping you plan for life, your life, and all of its moving parts, including life’s transitions.  We help you formulate key questions to be asked, strategically explore opportunities, review opportunities, consider ramifications of decisions, avoid pitfalls, and so much more.

How we can help you own your life transitions.

Changing Jobs. Many compensation packages are difficult to understand. Lenox can review your offer, compare it apples to apples to your current compensation, and structure a package at your new firm.  We will negotiate the deal, preserving your strong relationship with your new company.

Building a New Home. Building a dream home or doing that long-awaited renovation? Lenox can help the get the house completed on time and on budget.

New Business Hiring. Are you considering hiring a new employee? Lenox can explain the pros and cons of compensation structures and identify the risks to your balance sheet. With Lenox’s help negotiating the employment contract, you can maintain a good relationship with your new hire.

Life Insurance. Life insurance can be complicated. Lenox can review policies and the costs involved to make sure you know what you are buying.

What life transitions are you experiencing right now?  Give us a call and let us help.

It’s your tomorrow.  Call us for a complimentary review.  

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love.  

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

 

Why should you care who pays your Financial Advisor?

Why should you care who pays your Financial Advisor?

Why should you care who pays your Financial Advisor?

What you need to know.

Legal Definition of fiduciary relationship

A relationship in which one party places special trust, confidence, and reliance in and is influenced by another who has a fiduciary duty to act for the benefit of the party — called also confidential relationshipfiduciary relation

Does it matter who pays your financial advisor? We think it does.  As a fee-only financial services firm, you are the only one who pays Lenox. We believe an independent business model brings an independent opinion.

Unlike financial advisors who are compensated by selling proprietary products, Lenox advisors do not receive any product based compensation and, therefore, are not subject to a conflict of interest when accessing and bringing forth products and opportunities for the benefit of each client.

Our clients are not confused about where our interests align. If your accounts increase or decrease, so do our revenues. Your interests drive our decision-making. 

It is our Fiduciary Relationship with you!

It’s your tomorrow.  Call us for a complimentary review.  

 

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love.  

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Cincinnati COOKS! from the Freestore Foodbank Non-profit of the Month

Cincinnati COOKS! from the Freestore Foodbank Non-profit of the Month

Cincinnati COOKS! from the Freestore Foodbank Non-profit of the Month

One in six of our neighbors in the tristate area are at risk of hunger. In response, the Freestore Foodbank partners with 400 partner agencies to provide emergency food assistance to our neighbors in need.

Many people do not know that in addition to providing food, we also wo­rk to help individuals and families attain self-sufficiency and stability in their lives.  So, in addition to feeding the line, we also work to shorten the line.  One of the ways in which we help is to provide job training in fields where there is a high demand for skilled workers. As Cincinnati’s food scene grows, restaurants need trained employees who are ready to work.

Cincinnati COOKS! is a free culinary job training program for under- and unemployed individuals. During the 10-week course, students learn the mechanics of a commercial kitchen, as well as professional and life skills to ensure success in the food service industry and in their personal lives. Course topics include: food safety, food inventory and storage, basic nutrition and knife skills. In addition to our staff, COOKS! students benefit from the experience of learning and working with volunteer chefs and professionals.

Since the program began in 2001, over 1,500 people have graduated. Those students have gone on to find employment at more than 200 local culinary institutions including restaurants, school cafeterias, retirement communities, corporate dining halls, and catering companies.

Meet Marilyn, one of our graduates: http://freestorefoodbank.org/programs/cincinnati-cooks/

Following graduation from Cincinnati COOKS!, students are eligible to enroll in our Second Course program. The eight-week course provides advanced skills training for management opportunities and employment in fine dining restaurants. Graduates from Cincinnati COOKS! and Second Course can continue their education at Cincinnati State, entering with 30 academic credit hours toward an Associate Degree in Culinary Management.

Cincinnati COOKS! not only provides the community with skilled chefs, but also helps to create stability and self-reliance in the lives of our neighbors. For more information about the Freestore Foodbank and to find out how you can get more involved, visit https://freestorefoodbank.org/

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Where do you start to create and build wealth?

Where do you start to create and build wealth?

Where do you start to create and build wealth?

We say, “Imagine a future even better than your past.”

 

We’ve been thinking about the conversation that you, we, all of us have in our head any number of times. You know… the one about what it would feel like to pursue what you really want to do in life and what it could mean to your personal happiness. How it could affect the way you start each day, the way you interact with family and friends, and how you feel about life in general.  You get energized just thinking about the possibilities, right?  And then the fears return.  I can’t give up the job I have. I can’t forego the security of a paycheck. I can’t put my dreams first.

 

But what if you could? What if the thing you’re turning your back on could actually provide you more income, more security, and far greater happiness? It’s the unknown that’s always the hurdle, right?  However, what if you were to explore your real potential without risking your current job security?  Suppose someone could help you discover your inherent personal strengths, affirm their value, and show you how to turn them into financial strengths.

 

Turning your “what if” into reality might be the best move you’ve ever made to create and build both wealth and personal happiness. We see it happen every day among our clients.  Want to discuss how we can help you turn your personal strengths into financial strength and steer you to a future even better than your past, give us a call. It’s one more way we help you get unstuck, unafraid and unrelenting about your ability to FUND A LIFE YOU LOVE.

 

It’s your tomorrow.  Call us for a complimentary review.  

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love.  

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information

Lenox is a HERO Sponsor for THE WARRIOR RUN RACE FOR LIFE

The Warrior Run: The Race for Life is a family-oriented fundraiser that benefits Cincinnati Children’s Hospital Medical Center’s (CCHMC) Surviving the Teens® program plus local in-school mental health programs.

The Warrior Run: The Race for Life  features a 5K race, and one-mile walk that will be held Saturday, September 30, 2017. The  1M is at 5:15 p.m., the 5K at 5:30 p.m. Both courses start and finish at the Bell Tower @ Dogwood Park, off Pleasant Street, in the historic Village of Mariemont,Ohio.

Kid’s Fun Run starts at 7 pm.

Make it a night—enjoy a beautiful setting, a scenic run/walk through Mariemont, great food, music, carnival-style kids games and a movie at dark. Don’t miss the fun!

Register at www.cincywarriorrun.or

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How corporate change may change your financial future

How corporate change may change your financial future

How Corporate Change May Change your Financial Future

Are You Ready for What's Next?

 

Corporate change is here.  Big companies especially are going through a reset of sorts as they rethink, resize and reposition themselves to meet consumer needs in today’s very different global marketplace. The result is a churning of roles and a feeling of uncertainty that’s affecting people at all levels across a multitude of industries. 

As major corporations are increasingly faced with potential mergers and/or takeovers, where do you as a loyal employee fit into the picture?  Should you stay or should you go?  If the latter, what is your exit strategy?  Where are your best new career options and how do you prepare for them now while still employed?  What about the retirement benefits that you likely have accumulated?

Amidst the unknowns, who’s looking at the impact on you, your family, your financial planning and your future?  Who’s identifying opportunities for you to come out financially stronger, more secure in your career, and happier from a family and life planning perspective?  If you’re concerned about financial planning, wealth building and wealth management for you and your family, you’re not alone. 

This may be the time you engage the advice, guidance and networking power of a trusted financial advisor who also specializes in career coaching –- an experienced professional to help you look at positive, productive next steps regarding…

  • Your Job Security.  Does your job add more value inside your company or outside your company? There may be opportunities within your area of expertise that are more valuable outside your company than inside.
  • Relaunching Your Career.  How do you relaunch your current career or perhaps pursue an entirely new direction? If you leave your current field, what will you do next?  How do you go about exploring new opportunities while still taking care of day-to-day family and financial responsibilities? 
  • Positioning Yourself for Your Strongest Future.  Who can identify your strengths and key you into your strongest assets?  How do you gain the knowledge and confidence to turn your personal strengths into financial strengths?  Is it possible that you could be among the ranks of people who never see their work as work because it’s what they love to do? 

At Lenox, we see things through your eyes. We understand the many directions in which you can feel torn and the angst that comes with feeling out of control when it comes to your career and financial future.

We guide you through challenges wherever you are in your career and whatever life-stage decision you face.  We help you with wealth creation and wealth management to optimize not just your portfolio, but also your life. This can mean life-changing transformations, where we show you how to get where you want to be. 

If you’re wondering who’s looking at the impact of corporate change on you, your family and your future, we are at Lenox.  We help you get ready for what’s next.

Our services include: Re-launching Your Career, Financial Planning Services, Professional Networking, Business Purchase, Startup or Succession, Investment Planning, Stock Options Strategy, Retirement and Estate Planning among others.

It’s your tomorrow.  Call us for a complimentary review.  

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love.  

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This post is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

John Lame's Special Broadcast of August 2017 P&G Outlook

AUGUST 2017 P&G OUTLOOK

John Lame of Lenox Wealth Management has recorded a SPECIAL BROADCAST to comment on the importance of the proxy fight that is currently taking place at Procter & Gamble, and what that might mean to your family. He discusses the importance of those currently working at Procter & Gamble to have a career plan and financial plan to support it.

He also discusses two questions many of those at P&G are currently asking: 

  • Will P&G break up?
  • How / when will headcount be reduced by 50 percent?

WATCH THIS VIDEO for the full update, or read this AUGUST 2017 P&G OUTLOOK by Lenox Wealth Management for additional insights.

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Exclusive Lenox Interview Clayt Daley, Retired P&G CFO, Trian Advisor

Exclusive Clayt Daley Interview

Two years ago, Lenox advised P&G clients and shareholders that if P&G did not improve profitability and fix the pipeline for new products, it was likely another investor would take a significant ownership position in P&G and begin to push for change.

Today, P&G is in the middle of a proxy contest with Trian Fund Management, L.P. (“Trian”), one of P&G’s largest shareholders which is seeking a single Board seat for its CEO and a founding partner, Nelson Peltz.

In the typical situation, we would expect Lenox and P&G employees and retirees to side with Management and the Board by approving their slate of proposed directors. However, this determination has been complicated by several factors:

  1. Former P&G CFO Clayt Daley, has joined with Trian as an advisor. 
  2. The Company and its stock price have significantly underperformed industry and competitor benchmarks for many years. 
  3. The Board and David Taylor have taken the unusual step of launching an aggressive defense campaign which has been estimated by some to be expected to cost up to $100 million to prevent Nelson Peltz and Trian Partners from securing a single board seat, even though Nelson, if elected, has committed to proposing that the P&G Board immediately re-appoint which ever director is not re-elected at the P&G annual meeting of shareholders. 

As you will recall, Lenox Savings and Loan was created in 1887 by William Cooper Procter to help meet the financial needs of the Procter & Gamble community. In 2004, Lenox took the proceeds from the sale of the savings and loan and launched a family office. Today, Lenox has a significant number of P&G employee, retiree and executive retiree clients, who have been negatively impacted by the underperformance of P&G stock over the last 10 years. 

John Lame, the CEO of Lenox, worked at Procter & Gamble in finance and accounting from 1979 to 1991, where he reported to Mr. Daley. 

In an attempt to gather more complete and objective information to advise clients, Mr. Lame contacted Mr. Daley and asked him to respond to specific questions about his involvement with Trian and the ongoing proxy contest with Procter & Gamble.
 
CLICK HERE to read John's interview with Mr. Daley.

Sincerely,

The Lenox Wealth Management Team
www.fundalifeyoulove.com
800.472.5734

 to read John Lame's interview with Mr. Daley.

Clayt Daley, former Chief Financial Officer at Procter & Gamble, current advisor to Trian

Clayt Daleyformer Chief Financial Officer at Procter & Gamble, current advisor to Trian

Wealth Management Strategies for Dual-Income Families    

Wealth Management Strategies for Dual-Income Families    

Wealth Management Strategies for Dual-Income Families    

7 Steps to Financial Freedom and Less Stress

Being a dual income couple (especially if you have kids!) can feel like an overwhelming load of responsibilities and a constant time-crunch.  However, on the flip side, the two incomes can provide you plenty of opportunity to create significant wealth and establish financial freedom for your family, beyond what most single-earner families are able.

Here are 7 wealth management strategies every dual-income couple should consider:

1)      Max out your 401k: You can contribute up to $18,000 per year if you are under age 50 and up to $24,000 if you are over 50. Additionally, many companies offer a company match. It’s a triple win – you can save for retirement, get matching contributions from your employer, and enjoy the tax savings. If you don’t have access to your 401k, you may be able to contribute to an IRA and deduct the contribution on your taxes.

2)       Use deferred compensation: The majority of people are in the highest tax bracket during their working years, and then their tax bracket lowers considerably in retirement. If your company has a deferred compensation program, it’s a great way to manage your income while you are working and delay taxes until you are in a lower tax bracket. This strategy typically allows higher limits for putting money aside than a 401k, and you don’t need to wait until age 59-½ to access your monies.

3)      Know how your benefits work: Many large companies offer robust employee benefits that employees simply don’t understand or don’t take time to learn about and access. Make sure you are contributing to your Health Savings Account, Flexible Savings Accounts or other flexible benefits program. Doing so can provide you access to certain benefits at a pre-tax rate, which can save you anywhere from 15%-50%, depending on your tax rate. Who needs coupons? J

4)      Have a safety net in place: In today’s economy, it’s likely you will change job 10 to 20 times during your lifetime. Make sure you have an emergency cash fund in place (6 to 12 months of after-tax expenses) to give you a cushion for when you need to make a change. Also, make sure you have disability and life insurance in place for the unexpected.

5)      Don’t forget about college! College expenses have increased on average twelve-fold over the last 30 years. A great way to save for college and have the savings grow tax-free is a 529 Plan.  Parents and grandparents can, individually or as a couple, open and contribute to a 529 Plan for each child.  Depending on where you live, you may also get a deduction on your state taxes. In Ohio, contributing to a 529 can get you a tax deduction of $2,000 per child.

6)      Outsource what you can: Cleaning help? Grass cutter? Chauffeur for the kids? Meals delivered to your door?  Yes, please. When you look at how much you earn, it’s often less expensive to outsource the work you don’t love to do (both financially and emotionally) than to use your time to try to do it all yourself.

7)      Treat yourself: It’s easy to get stressed out day-to-day with the endless things to do, both at home and in your career.  Block a day at least once a quarter to take a day trip, get a massage, have a date with your spouse, meet friends for lunch, or read a book, relax and not worry about what else gets done.

In addition to the above seven, there are other wealth management strategies well suited to dual-income families.  The earlier in your careers that you put such strategies in place, the even greater your potential for building wealth as you allow the time-value of money to work to your advantage.  We’d love to tell you more.

It’s your tomorrow. Call us for a complimentary review - 513.618.7080.

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.

 

August 2017 Outlook on Procter and Gamble (P&G)

August 2017 Outlook on Procter and Gamble (P&G)

August 2017 Outlook on Procter and Gamble (P&G)

Current P&G Stock Outlook:

  • We are maintaining our 12-month outlook of $96/share.

  • In our $96/share target, we have included a $6/share reserve for upside reflecting the positive impact of Trian Partners $3.5 billion investment in P&G and pending proxy fight to secure a board seat for Nelson Peltz. We would have increased our 12-month outlook to $102/share and included a $12/share reserve if Trian was not facing a proxy fight with P&G.

  • For perspective, Wall Street analysts have an average 12-month stock price target of $92.37/share.  Analyst forecasts currently range between $80/share and $104/share. Please note there has been a $0.87 or 0.9% increase in the Wall Street Analyst average since our May 2017 outlook.

Highlights of P&G’s Quarterly Results:

  • P&G continues to deliver on the forecast, but the overall results are very incremental.
  • P&G had total organic sales growth of 2% for Q4 FY 2017.
  • P&G reported fourth quarter fiscal year 2017 net sales of $16.1 billion, unchanged versus the prior year (this includes a negative 2% impact from foreign exchange).
  • Organic sales increased or were unchanged in three of five business segments.
  • Core earnings per share were $0.85, an increase of 8% versus the prior year.
  • Operating cash flow for the quarter was $3.7 billion.
  • During FY 2017, P&G returned nearly $22 billion of value to shareholders as dividends, share exchanges and direct share repurchases.

Fiscal Year 2018 Guidance:

  • FY 2018 guidance continues to be incremental; top line revenue growth remains uninspiring.
  • P&G’s guidance for organic sales growth is in the range of 2 – 3%.
  • P&G expects all-in sales growth of around 3%.
  • P&G anticipates core earnings per share growth of 5 – 7% versus FY 2017 of $3.92; primarily driven by core operating profit growth.
  • The company expects the lowest organic sales and core EPS growth results to occur in the first quarter of FY 2018.
  • For FY 2017, dividends are expected to be in the $7 billion range, with additional share repurchases of $5 billion. This $5 billion does not include a $9.4 billion share reduction from the Coty sale.  
  • We expect the combination of Trian headlines, dividends and share repurchases will keep modest upward pressure on the stock while reducing downside risk if there is U.S. market correction due to a recession.

 Understanding our $96 Price Target:

  • The main drivers necessary to reach our $96 price target include:
    • Nelson Peltz of Trian Partners is “backdoored” into Proxy fight by P&G Management & Board—Nelson has strong track record of adding value for shareholders. Our sincere hope was that the Board would invite him to take a Board seat. We are disappointed that time is being wasted on a proxy fight. Trian is a large shareholder and deserves Board representation, even if management believes they already have the best plan and don’t need help. We do not believe that P&G’s current plan brings a “private equity” mindset to the company. We believe Trian can bring an additional $30 to $40/share in value to the price of the stock. Despite Trian’s recent publicity to the contrary, we do not believe they can bring this value without pushing for more aggressive headcount reductions, insisting on higher value added spending on R&D and marketing, challenging the current dividend policy where earnings are double taxed, or pushing for increased purchases of shares through low-cost debt. We believe the Board has been slow to act and has only provided leadership when forced. We believe that the P&G Board needs to be shaken up, even if P&G has the right management team, strategic plan and ensures increased accountability. We believe it’s a legacy Board from the AG days and we do not believe strong leadership has been demonstrated by this Board. We recall one of our clients who submitted a resolution to split the CEO/chair roles, and that P&G legal did everything possible to make sure the resolution was not included in the proxy. We admire David Taylor, but his leadership strength is primarily known for incremental change and steady as she goes leadership. The outside world has been changing faster than P&G. The performance has been poor. The Board, the management team, and the employees need to be challenged to do better. We believe that in order to add value, this Board needs to bring a stronger outside point of view and push, when required, for more transformational change. We just don’t see transformational leadership showing up without Nelson’s involvement on this Board. We do not see the $30 to $40 of additional share price without Nelson’s direct involvement. We believe that there is at least a 50% probability Institutional Shareholder Services (ISS) will side with Trian and Nelson will be elected to the Board.
    • Continued Cost Cutting—P&G continues to focus on driving out organizational inefficiencies. After completing a $10 billion initiative launched in 2012, P&G launched another $10 billion cost savings initiative. The company expects much of this cost savings to come from driving down the cost of goods and increasing productivity. Based on history and guidance, it is unclear what percentage of the $10 billion will go to the bottom line.
    • Sales Growth P&G is forecasting all-in sales to increase 3% in fiscal year 2018.
    • Share Repurchases—P&G completed $5.2 billion of direct share repurchases in fiscal year 2017. The company expects to buy back an additional $4 to $7 billion in fiscal year 2018. Share repurchases will continue to be a critical component of our price target.
    • Macroeconomic, Political, and Competitive Risks—P&G identified several key risks that they have not taken into consideration in their FY 2018 guidance: Significant deceleration of market growth rates, further political and economic volatility, further currency weakness, and further commodity cost increases.

 

It’s YOUR tomorrow.

Contact us for a complimentary review. For Lenox recommendations, call us at 513-618-7080 or email info@lenoxwealth.com

 

Please contact your investment and tax advisor prior to making any decisions. 

Past Performance is not indicative of future results.

This newsletter is limited to the dissemination of general information pertaining to its investment advisory/management services. This is not intended to be personalized investment advice. Please contact a Lenox adviser if you would like additional information.

Source: P&G Earnings Release 07/27/20

Deupree Meals on Wheels Non-Profit of the Month

 

Since 1989, Deupree Meals On Wheels has proudly delivered over ONE MILLION meals to homebound Cincinnati elders.

Deupree Meals On Wheels is a service from Episcopal Retirement Services, administered in partnership with the Council on Aging of Southwestern Ohio, that empowers older adults to remain in their homes by delivering hot meals, made just for them, right to their doorsteps.

Deupree Meals On Wheels is made possible through the kindness and generosity of PEOPLE LIKE YOU. Charitable donations help support the cost of food, and committed volunteers deliver not only delicious and nutritious meals to Deupree Meals On Wheels clients, but also compassionate companionship.

With your support, in 2017 Deupree Meals On Wheels will deliver over 100,000 meals to over 380 older adults.

To learn more about Deupree Meals On Wheels, please click here:

https://www.episcopalretirement.com/deupree-meals-on-wheels

Personal Debt Consolidation 

Personal Debt Consolidation 

Personal Debt Consolidation


Is it a good move post-divorce? 

Going through a divorce can be emotionally and financially painful. Now that the decree is final, what’s next? First in order should be putting your individual house in order. Exploring housing options, setting up checking and savings accounts, and dealing with outstanding debt need to be at the top of your list.

So, exactly what should you do with debt for which you were put on the hook?
    
One crucial step in getting your financial house in order is to set up a budget. After
doing so, you can determine if paying off your debt at this time is within your budget or if you need to seek alternative solutions. The primary goal should be to reduce your credit card debt as quickly and efficiently as possible. Pay off as much as you can. The longer the debt exists, the more interest expense you will pay. If your budget allows, cut your discretionary spending to allow for maximizing the pay down of the debt more quickly.
    
If there is too much debt to eliminate quickly and stay within budget, it may make
sense to consolidate your debt. What’s the best way to consolidate debt? 

Personal debt consolidation simply means taking all of your credit card debt and
consolidating it into one amount, thereby making it easier to manage and hopefully lowering the monthly payment. The key is to secure an attractive interest rate.  Discuss options with your financial advisor, attorney or other trusted personal advisor.

What about other debt that you incurred in your marriage? Even though the court may say that one person is responsible for paying off debt, creditors will still hold both parties responsible. Therefore, if your ex fails to pay, your credit score could be at risk. Make sure that all joint accounts are closed as soon as possible so that no new debt can be incurred on those cards. 

IMPORTANT:  The federal government allows you to check your credit report
annually via three separate reporting agencies. Keep an eye on your credit by
obtaining one of these reports every four months. You can get started at
www.annualcreditreport.com. 

It’s your tomorrow. Call us for a complimentary review.
Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love®.

 

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.


 

Planning for Retirement? 6 Ways A Financial Planner Can Help

Planning for Retirement? 6 Ways A Financial Planner Can Help

Planning for Retirement?

6 Ways A Financial Planner Can Help

Starting at a very young age, we were told “save your pennies”, “spend less” – “watch your debt”, “don’t get in over your head.”

But then what?  We are not always taught how to make the most of those saved pennies –– how to protect those assets, how to invest a portfolio and how to save in the most tax efficient way.  You may not have the expertise, the time or the desire to actively plan and manage certain financial aspects of your life.  And in today’s world, the financial goals, stability and future you seek to attain for yourself and your family should not be left to chance. 

A financial planner such as your Lenox registered investment advisor can help you:

1) Set realistic financial and personal goals to help you “Fund A Life You Love” at every age and stage of life.

2) Assess your financial well-being.   Your financial planner will help you navigate your assets, liabilities, income, insurance taxes, investments and estate plan.

3) Develop a comprehensive plan to meet your financial goals by Identifying opportunities and building on strengths.  By example, at Lenox we help turn your personal strengths into financial strength.

4) Keep your emotions in check with regards to the market and its volatility.  Most investors struggle with making emotional decisions during market downturns and upturns.

5) Develop tax strategies to make sure they maximize the dollars you accumulate and get to keep in your “nest egg”.

6) “Give back” by developing strategies that allow you and your family to help your favorite charity.

You have spent a good part of your life earning and saving money!  Nice job!   Now let’s make sure that your finances are managed properly and that your assets go to work for you and your loved ones!

IMPORTANT:  When shopping for a financial advisor, there are two types, each held to different legal standards. Registered investment advisors (RIAs) are legally bound to serve as fiduciaries, which means they must put the client’s interests first.  By comparison, brokers are allowed to recommend products that pay them commissions or other sales incentives, provided they feel the products suit the client’s interests.  Do your homework and make sure you are comfortable that your choice of financial advisor is motivated only by your best interests and not by those of their firm and/or its proprietary products.

It’s your tomorrow. Call us for a complimentary review.

Call 513.618.7080 or visit www.lenoxwealth.com to Fund A Life You Love. 

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.

 

How To Select And Evaluate The Effectiveness of Your Financial Advisor

How To Select And Evaluate The Effectiveness of Your Financial Advisor

How To Select And Evaluate The Effectiveness of Your Financial Advisor

7 must-ask questions in the process

Selecting the best financial advisor for you and your family is and should be a serious process. Remember, when you hire an advisor, you’re handing someone an enormous and important responsibility –- the asset management and wealth management strategies for you and your family in the near and long term. He or she should come to know your financial situation better than anyone else in your life. Choosing the right person may not guarantee your financial success or the success of your family but choosing the wrong one could prove catastrophic.

Before hiring an advisor, this person or the firm should be made to answer some tough questions. This at times can be uncomfortable for you as the client. However, you should think of yourself as the CEO of family affairs and you need to think like the big boss and make an important high-level decision to hire your “family office”. If when you do the interviews, the advisor can’t give straightforward and credible answers to your tough and direct questions, then they don’t have the right stuff for the job.  Bottom line, be rigorous in the interview process and it will save you a lot of pain down the road.

Here are seven must-ask questions we suggest you pose when selecting and evaluating a financial advisor, and we’re basing this advice on a must-read book called Get Wise to Your Advisor: How to Reach Your Investment Goals Without Getting Ripped Off by Steven D. Lockshin.

#1 Can you describe your typical client?  Can you talk about the unique expertise or specific focus that you have with certain types of clients?  What’s the average account size and median account size?  What are your total assets under management? What are your total assets under advisement and how many clients do you have?

#2 Can you describe your service profile? What’s the menu of services that you offer in addition to asset wealth management and wealth management strategies? Tell me about the technology interface between you and us as your client. How many times per year will you meet with us? If special circumstances arise, will you meet with us more often? How many advisors does your firm have and what kind of team structure do you have behind the advisor to meet our needs?

#3 What licenses do you carry?  At Lenox Wealth, we have a heavy bias to being a registered investment adviser, and think you should ask someone whether they have broker's licenses or if they're registered as an investment advisor. It’s also important to ask them if they're held to a fiduciary standard. And, ask what process and procedures they have to ensure their firm remains in compliance with important legal and regulatory statutes.  IMPORTANT:  Registered Investment Advisors are legally bound to serve as fiduciaries by putting client interests first.

#4 How do you get paid? Do you get paid for the investments that you recommend? Do some investments you recommend pay you more than others? Are you paid with commissions? Are there any other forms of compensation that I should know about? Does your firm receive any payments in the form of compensation from mutual funds or other investment companies? Can I pay you a flat annual fee? Can we agree on the dollar amount in advance? Do you manage any client assets for yourself? Is there any case where you charge clients a wealth management fee or other kinds of fees aside from what I pay you? What other costs might I incur?

#5 Can you explain your investment process in plain English?  How does your investment management process work? What wealth management strategies do you abide by?  Why?  What do you take into consideration when providing financial guidance?  How closely do you look at what’s important to my family and me on a personal level when giving advice?

#6 Where will my assets be custodied? Who could move money in and out of my account? How will my accounts be titled? What level of liability insurance do you have? How do you monitor your employee's ethical conduct? Have you ever had to fire an employee for ethical conduct?

#7 Can you tell me more about your firm and the qualifications of financial advisors on staff? Do you require certain accreditations such as a CFP? Do the people with whom I’ll work have business majors or advanced degrees in business? What is the financial background of staff members? What does your firm do to plan for the future and what direction will it head over the next several years?  What safeguards does your firm have in place to ensure that my assets are protected from fraud or theft?  Can you provide a list of your credentials and background?

After the interview, we suggest that you calmly reflect. If possible, make sure that you interview at least three potential advisors, and do a cross check of the advisors’ answers. Get very comfortable with whom you think you should pick; don’t give in to pressure or rush your decision. And, if you have any questions, please feel free to call us at Lenox. We’d be glad to walk you through these questions and help you create a personalized checklist that will help you make the best decision for you and your family.

It’s your tomorrow. Call us for a complimentary review - 513.618.7080 or contact us online.

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.

 

Revitalize P&G — Together

Revitalize P&G — Together

A Trian Update: "Revitalize P&G — Together"

The following is an update from Trian, an investment management firm that initiated its investment in Procter & Gamble in November 2016. Trian seeks to invest in high quality but undervalued and underperforming public companies. The website below provides updates on this partnership with P&G.

"Trian believes strongly in Procter & Gamble’s potential, but the Company is facing challenges that have led to disappointing results over the last decade. As one of P&G’s largest shareholders, Trian has a keen interest in helping P&G address these challenges. This website summarizes these challenges and explains why adding Nelson Peltz to the Board will help revitalize P&G. Scroll down to learn more." - Download this PDF Report or visit this website to learn more.  

Wealth Management Strategies that Span Generations

Wealth Management Strategies that Span Generations

Wealth Management Strategies that Span Generations

Teach your kids and grandkids how to live and to give to sustain family wealth.

 

Many people have made significant amounts of money by being successful in large corporations. In many cases, they are first generation wealthy, went to college, climbed the corporate ladder, received retirement benefits and in some cases stock options.  They saved money, generously supported their local charities, and entered their retirement years wealthy. The challenge these families now face is that 95% of wealthy families will lose that money by the end of the third generation.

How can families defy such odds and ensure future generations do not fritter away hard-earned family wealth?  Where do so many families go wrong that only 5% are able to hold onto their wealth for more than three generations?  If you’re in a similar situation, what should you do to ensure your family is successful vs. another statistic? What wealth management strategies are best suited to pass the test of time?

If nothing else, a must-do strategy is to teach your kids and grandkids how to live and to give in order to sustain family wealth.  Of all the guidance you can pass along, what an accomplishment to help future generations understand how to save conscientiously, spend wisely, and to give back freely.  What a legacy to be able to instill values that inspire your offspring to look at wealth management as not just a matter of investments or products but as a lifestyle decision and an opportunity to make an impact far beyond their personal wants and the here and now.

In 2016, Lenox rolled out a new wealth management initiative that seeks to help families teach their children and their grandchildren how to be financially successful. Our goal was to create multigenerational families, where each generation learns to save 10% per year and give back 10% to the community in the form of either time, money, or a combination of both. We call it our “Lenox 10/10 Program”.  

If you seek to create a family culture where you and your family learn to be financially successful, save, and give back, and continue this success over the next 100 years, we can help you achieve these highly commendable goals and have fun doing so.  Our Lenox family office solution may be the ideal solution to create the generational success you desire for your family.  Let’s talk.

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.

10-Year Financial Planning Roadmap for Couples

10-Year Financial Planning Roadmap for Couples

Marriage is a wonderful thing for millions of couples, but that doesn’t mean it comes without stress, including financial stress.  Learn more about wealth management strategies for couples.