Greetings!
What happens in the aftermath of the recent fires? The Financial Planning Association has come together to help fire victims throughout the state. Here is an excerpt from an article in Monday's Investment News:
Firefighters in Colorado Springs, Colo., are reining in the locale's major blaze, but financial advisers in the area say some of the toughest times are still ahead for their clients.
After 11 days, the Waldo Canyon fire - amounting to nearly 18,000 acres - in the Colorado Springs area is now 70% contained, according to The Gazette, which is based in that city. Some evacuees are being allowed back into their houses, though some 350 homes have been incinerated. For many, especially those who lost their homes or businesses, the toughest part will be getting their lives back to normal.
Accordingly, advisers are standing by to help their affected clients and other residents get back on their feet. Also, members of the Financial Planning Association of Colorado are kicking off pro-bono efforts benefiting affected individuals.
"For the most part, people who go through this have never been through it," said Karl Frank, president of A&I Financial Services LLC and public-awareness director in FPA-Colorado.
To read the rest of the story, click here.
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| Weekly Economic Update | |
WEAK JOB MARKET PERSISTS IN JUNE
America's unemployment rate remained at 8.2% in June with non-farm payrolls expanding by just 80,000 positions. The underemployment rate rose to 14.9%. The Labor Department report offered a troubling big-picture detail: our economy has generated fewer than 100,000 new jobs for four straight months, in what seems like a replay of May-August 2011 (when monthly job gains averaged just 80,000). Does this signal another "soft patch"? Maybe not. For example, January-May job growth has exceeded June-September job growth regularly since 1987. Two sobering facts remain: between January 2008 and February 2010, the economy shed almost 8.8 million jobs, and since then it has regained less than 44% of them. (1,2)
ISM GAUGES DROP FOR INDUSTRY & SERVICE SECTORS
The Institute for Supply Management's closely watched manufacturing sector index dipped to 49.7 in June from May's 53.5 mark (meaning sector contraction). ISM's service sector index also saw a June descent to 52.1 from May's 53.7 reading. Factory orders did rise 0.7% in June, far above the 0.2% expected by analysts polled by Reuters. (3,4)
AUTO SALES UP; CHAIN-STORE SALES DISAPPOINT
Big automakers announced nice 12-month sales gains for June: Toyota, +60%; Nissan, +28%; Chrysler, +20%; General Motors, +16%. The International Council of Shopping Centers gauged a 0.2% annualized increase in same-store sales in June, as opposed to a 1.7% yearly gain for May. (4,5)
A MIXED WEEK ON WALL STREET
While the NASDAQ advanced 0.08% last week to close at 2,937.33 Friday, the DJIA (-0.84% to 12,772.47) and the S&P 500 (-0.55% to 1,354.68) both staged weekly retreats. Bulls interpreted the European Central Bank's July 5 interest rate cut as a token gesture, and last week's encouraging ADP jobs report was not affirmed by the Labor Department's numbers. Oil ended the week at $84.45 on the NYMEX (-0.60% for the week) while gold lost 1.58% last week to settle at $1,578.90 on the COMEX. (2,6) |
| Market Summary |
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% Change |
Y-T-D |
1Yr Chg |
5-Year Avg | |
DJIA |
+4.54 |
+1.16 |
-1.23 | |
NASDAQ |
+12.75 |
+3.65 |
+2.03 | |
S&P 500 |
+7.72 |
+1.15 |
-2.30 |
(Source: msn.money.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/06/12). Past performance is no guarantee of future results. Indices are unmanaged, and investors cannot invest in them directly. |
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Create a beautiful week!
Karl Frank, MBA, MSF
Certified Financial Planner (R)
A & I Financial Services LLC
303.690.5070
Citations:
1 - www.boston.com/business/news/2012/07/06/employers-
add-jobs-economy-struggles/xTVUZOt6lNJZGi1
aBhxrGL/story.html [7/6/12]
2 - money.msn.com/market-news/post.aspx?post=96140b67-
efa5-49c8-9ffc-85cd17eaea41 [7/6/12]
3 - www.ism.ws/ISMReport/NonMfgROB.cfm [7/5/12]
4 - money.msn.com/market-news/post.aspx?post=ac939968-c8f5-4806-909b-3d029be476e1 [7/6/12]
5 - finance.yahoo.com/news/retailers-report-tepid-june-sales-175710325.html [7/5/12]
6 - montoyaregistry.com/Financial-Market.aspx?financial-market=common-financial-mistakes-and-how-to-avoid-them&category=29 [7/6/12]
Securities offered through Geneos Wealth Management, Inc., member FINRA/SIPC. Investment advisory services offered through A & I Financial Services LLC, registered investment advisor.
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| Words for Thought |
"All right, I am corny.
But I think there are about 140 million people in this country just as corny as I am."
Walt Disney |
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Riddle of the Week
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I may be red, green or yellow. Eat me, and you may stay a healthy fellow. My interior is white; I don't give off light. What am I?
Last week's riddle:
Two sailors stand at opposite sides of a boat. One looks west and the other looks east - and yet, they are both able to see each other clearly. How can this be?
Last week's answer:
The sailors are looking inward (into the boat) while standing with their backs against the sides of the ship. |
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Karl Frank was interviewed by 9News on March 28th, 2012 regarding "3 Things You Should Do if You Win the Mega Millions Lottery". | |
Click Here to View Video
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Karl Frank In Investment Advisor Magazine |
 | | Investment Advisor - November 2011 |
Investment Advisor Magazine's November 2011 edition features Karl Frank. In the article "Never Satisfied," John Sullivan writes: Passion born of tragedy drives Karl Frank to do all he can to help business owners ensure a legacy for loved ones and heirs. Industrial age publisher and philanthropist Frederick Bonfils said there is no hope for the satisfied man. If that's the case, Karl Frank is full of hope.
"I'm never satisfied," Frank says matter-of-factly when asked about his advisory firm
.....Read More. |
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