Former AFA President, Roger Coventry, Joins Childers & Berg LLC

Childers & Berg is excited to announce that Roger Coventry joined their management team as the Director of Estate Services on December 1, 2009. As past President of the AFA, Roger has many friends and acquaintances within the fiduciary industry and the AFA, please feel free to contact Roger at Childers & Berg.

Childers & Berg, LLC
11134 W. Wisconsin Ave
Youngtown, AZ 85363
(623) 972-3819
(623) 977-0352 Fax
RCoventry@childersandberg.com

Case Law Update: Conservatorship

Division Two of the Arizona Court of Appeals held surety bond could be held liable for illegal acts of conservator prior to issuance of bond holding that guardians and conservators are responsible for pursuing assets wrongfully taken from protected person even if it means suing themselves for misappropriated assets. The Court awarded prejudgment interest against the surety but declined to award attorney’s fees to estate of protected person stating the surety had not taken an unreasonable position, the surety made good legal arguments and the law was unsettled in Arizona. Pacheco vs Hartford, 2 CA-CV 2007-0135, issued September 22, 2008.

Find this case and others Here

13 Questions a Fiduciary Should Ask BEFORE Selecting an Investment Advisor

By Anton L. (Tony) Janik, Sr.
Registered Investment Advisor
Certified Fiduciary License #20283

In addition to having a good attorney, accountant and insurance professional, one of the most important things you can do to protect and preserve the ward’s assets is to select an independent investment advisor. Much like a primary care physician manages one’s healthcare, an experienced independent investment advisor can help you make certain that the ward’s investments remain safe, productive and meet your current needs for income. Over the next few weeks, I will pose 13 questions designed to help you choose an advisor with the proper training, skills and experience to meet your ward’s investment needs.

1. What are the Advisor’s Professional Credentials?
Ask the advisor about his professional education, experience and the length of time he has worked in the financial services business.

There are significant differences between the training, experience and credentials of stockbrokers, financial planners and registered investment advisors. Investigate carefully – don’t be confused by the titles “advisors” call themselves these days. Many stockbrokers prefer to be called Financial Advisors or Financial Consultants and insurance salespeople often call themselves Financial Planners.

If you choose to go the planner route, make certain that the Financial Planner has earned the designation as a Certified Financial PlannerTM (CFP®). Not only is a CFP® more likely to be very knowledgeable (they are required to pass a series of comprehensive exams on the subject) but they have also agreed in writing to subscribe to a certain ethical standard when dealing with clients. Also, be sure to ask how they are compensated and whether they are independent or work for a particular financial services company whose products they must sell.

A Little Levity for Those of Us Glued to Our Desks...

We are at our computers for such extended periods that it is nice to add a little ambiance every now and then. I have found a website where one can customize the music according to personal tastes. Even better, there are no annoying commercials to contend with. The site is called Last FM. Just type in the music or artist you prefer into the music search bar and enjoy!

Nobel Prize for Research on Aging

Three American scientists win Nobel for their Research on Aging.

AFA 2010 Conference

The AFA is pleased to offer our two-day conference on the complexities of care in the 21st century. The state of Arizona is facing unprecedented budget shortfalls affecting the practices of both public and private fiduciaries. How can the profession sustain and expand quality care while mitigating the challenges of limited resources and record demand? Join the AFA as we explore theses topics and more!

The conference will be held at the Carefree Resort and Villas 37220 North Mule Train Road, Carefree, AZ. 85377

Hotel conference rates are $155.00 for single/double prior to February 17, 2010. There are a limited number of rooms available, so please make your reservations early. For room reservations, call 877-294-6370. The resort will accept extensions three days prior to and/or past the Event dates based on room type and rate availability. Make certain to identify your group as the Arizona Fiduciaries Association.

Register Here

AFA Annual Leadership Award

The AFA board is seeking your nominations for it's annual leadership award. The award will be announced at our next conference which is scheduled for March 4 -5, 2010 in Carefree, AZ. Please mail your Nomination Form to Arizona Fiduciaries Association Attn: Awards Committee PO Box 13314 Scottsdale, AZ 85267-3314