Greetings!

Cassaday Commentary

From the desk of Steve Cassaday

October of 2013 marks the 20th year that Cassaday & Company, Inc. has been in business.  When I stop and think it seems impossible that 20 years have passed but as I look back over the last two decades the things that I have seen and experienced are remarkable indeed.

Client Advisory Board 

Hot Topic: Power of Attorney and Medical Directives

Why You Need a Power of Attorney and Medical Directive

It's late at night and you're waiting for your husband to arrive home from a business trip. Suddenly the phone rings and the voice on the other end informs you that your husband was in a terrible car accident and has been rushed to the hospital. You arrive to find several doctors awaiting permission to operate on your unconscious husband. They ask if he has a medical directive that authorizes someone, preferably you, to make health-care decisions on your husband's behalf.

A few days pass and your husband survives the accident, but he's going to be laid up for several weeks or months. Household bills need to be paid, but the primary source of income is your husband's business and you're not named on any of the business bank accounts. The bank representative asks whether your husband has a durable power of attorney naming you as his agent for financial matters.

These are everyday examples that highlight the importance of a medical directive and a durable power of attorney. Without these documents in place, you and your family could face personal and financial disaster.

What is a medical directive?

A medical directive lets others know what medical treatment you would want, and allows someone to make medical decisions for you, in the event you can't express your wishes yourself. There are two basic types of advanced medical directives--a durable power of attorney for health care and a living will--which generally vary by state. So be sure your documents comply with the laws of your state of residence.

A durable power of attorney for health care (known as a health-care proxy in some states) allows you to appoint a representative (health-care agent) to make medical decisions for you if you are unable to do so yourself. You can appoint almost anyone as your agent (as long as they are of legal age, usually age 18 or older). You decide how much power your representative will or won't have.

A living will allows you to approve or decline certain types of medical care, even if you will die as a result of that choice. In most states, living wills take effect only under certain circumstances, such as terminal injury or illness. Typically, a living will can be used to decline medical treatment that "serves only to postpone the moment of death." In those states that do not authorize living wills, you may still want to have one to serve as an expression of your wishes.

What is a durable power of attorney?

A durable power of attorney (DPOA) can help protect your property in the event you become physically unable or mentally incompetent to handle financial matters. If no one is ready to look after your financial affairs, your property may be wasted, abused, or lost. A DPOA allows you to authorize someone else to act on your behalf, so he or she can do things like pay everyday expenses, collect benefits, watch over your investments, and file taxes.

A DPOA may be effective immediately (this may be appropriate if you face a serious operation or illness), or it may only become effective upon the occurrence of an event, such as your incapacity (sometimes referred to as a springing power of attorney).

Caution:   A springing power of attorney is not permitted in some states, so you'll want to check with an attorney for its availability in your state.

Additional things to consider:

When creating either a DPOA or medical directive such as a durable power of attorney for health care (HPOA), it is important that you choose an appropriate agent. While you may select the same person to serve as agent in both documents, you are not compelled to do so. And be sure the person you select as agent is aware of that fact. Also, let them know where you keep these documents (you may want to give a copy of your HPOA to your advisor, agent and primary care physician as well).

Once you have these documents, review them periodically to be sure they still accomplish what you intend them to do. 

If you are interested in learning more about DPOA or a HPOA, please contact your advisor.  Your advisor will be happy to answer your questions and provide you with a referral to a local estate planning attorney.   If you already have these documents, be sure that you upload these into your portal for safekeeping.  Instructions to do this can be found here. 

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2013. See disclaimer at the end of this newsletter.

Meet the Operations Department 

Allison (Huke) Felix, Chief Operating Officer, oversees Cassaday & Company's Operations department.  This team handles the day-to-day processes & procedures in the areas of Finance and Accounting, Information Technology, Human Resources, Marketing, Client Billing and Facilities Management.  Although Cassaday & Company is a small business, we pride ourselves on our large scale capabilities that allow us to provide each of our clients with the highest levels of individualized service.  Creating an exceptional client experience is the department's top priority.  

Team members include: Lori Triplett, Executive Assistant to the President; Anna Shkrabaliuk, Accountant; Brenda McKenzie, Receptionist; Daven Foulk, Billing and Data Analyst (see employee spotlight); Kara Mauceri, Marketing Manager; and Vickie Lau, Marketing Coordinator.

What's New @ Cassaday

 

PRS Volunteer Work
In July, Cassaday & Company spent two days volunteering at the PRS Tysons Recovery Academy. Staff helped prepare lunches, registered clients for classes and assembled course materials.   PRS, Inc. (formerly Psychiatric Rehabilitation Services) is a non-profit organization which provides support services to individuals with severe mental illness for recovery, integration back into the community, and obtaining employment.   Nick Harris, Vice President, is a current member and past Chairman of the Board of Directors of PRS.   For more information on PRS, please visit www.prsinc.org. 

  

(l-r) Chris Miller, PRS Employee, Sean Gallahan and Trang Nguyen (intern) help prepare lunch.

  

  

Youth for Tomorrow
Cassaday & Company was a Platinum sponsor for the 28th Annual Youth for Tomorrow Country Fair & Auctions held in Bristow, VA.  Joe Gibbs, the YFT Founder and Chairman, hosts this event each year to benefit Youth for Tomorrow, a residential youth home and private school for at-risk teenage boys and girls.  For more information, please visit www.youthfortomorrow.org.

  

Sean Gallahan and Chris Miller pass out bags and other fun items in Cassaday & Company's tent.

  

Elmo stopped by to visit the Cassaday booth!

  

Steve Cassaday enjoyed the day passing out Cassaday & Company balloons to the children.

  

PRS and Youth for Tomorrow are both charities which Cassaday and Company's Charitable Fund supports. 

  

Charity Golf

(l-r) Cassaday "Ladies" Alex Karkeek, Chris Young, Adam Huke and Sean Gallahan

Proceeds from the immixGroup tournament will be used to support the immixGroup Foundation Surgical Oncology Fellowship in the Department of Surgery at Johns Hopkins at the Johns Hopkins Sidney Kimmel Cancer Center, one of the finest medical facilities and research institutions in the country.  To learn more, visit www.immixgroup.com.

Since 1999, The House DC, a 501(c)(3) non-profit organization has been transforming and empowering the lives of inner-city youth and their families.  Cassaday & Company has supported the work of this important organization for many years.  For more information, visit www.thehousedc.org.   

(l-r) Alina Lee, The House volunteer, Christopher Krell and Sean Gallahan pose for a picture after the golf event.

Cassaday on the Run
Our Cassaday runners are continuing to log in many miles.  Mike Carey, First Vice President and Linda Stewart, Director of Client Services and Chief Compliance Officer, ran the Philadelphia Half Marathon on September 15th.  Linda also ran the 32nd Medtronic Twin Cities Marathon in Minnesota on October 6th and completed the race with a personal best time of 4:44 which is 32 minutes faster than her previous record.  Way to go Linda and Mike! 

Linda Stewart after completing her latest marathon.

New Hires
In August, Chelsea Miller joined the Client Services Department as an Assistant Client Services Representative.  She provides support to Ann Wagaman and Linda Stewart, Directors of Client Services, primarily through the preparation of client account documents.  Chelsea joined the firm following a successful internship.  Chelsea is currently in her junior year at George Mason University and is pursuing an Integrative Studies major, with a concentration in Child and Family Development Studies, at GMU through New Century College.  When she is not working or studying, she enjoys playing in beach volleyball tournaments, working in her garden, and baking.  Chelsea lives with her parents and brother in Springfield, VA.

 
Steven Pongrace joined our Advanced Strategies Department in August as an Advanced Strategies Assistant.   He works directly with Carmen Bississo, Director of Advanced Strategies, to monitor the insurance and annuities product landscape; he also gathers important insurance and annuity data necessary for the completion of audits for our clients and assists in scheduling client meetings and conference calls.  Steve was born in Spokane, Washington and frequently moved due to his father's service in the Air Force.  Over the years, Steve has called Guam, South Korea, Hawaii, California and Louisiana home.    He has lived in Fairfax, VA since 2011 and enjoys watching and playing football, baseball, basketball, golf, soccer and bowling.

After interning at the firm during the summer of 2012, Vickie Lau joined the Operations Department in July 2013 as a Marketing Coordinator.  Vickie graduated in May 2013 from Virginia Tech with a Bachelor of Arts degree in Public Relations and a minor in Psychology.  She works with Kara Mauceri, Marketing Manager, to provide marketing and communications support for the firm.  In her spare time Vickie enjoys photography and yoga.  A Virginia native, Vickie currently resides in Vienna, VA. 

Engagements & Weddings
Kay Ngiam, Trading Administrator, and her fiancé Joel Paradiso tied the knot on September 28, 2013.  The wedding was held in the Outerbanks of North Carolina.  We wish Kay and Joel a lifetime of happiness!

Kay and Joel share a quiet moment during their wedding.

Alina Lee, Paraplanner, was recently engaged to longtime boyfriend Brian. A 2014 wedding is being planned. 

Cassaday Kids Go Back To School
Ann Wagaman, Director of Client Services, and her husband Ed are enjoying life as "Empty Nesters" after sending their son Tommy off to school in August.  Tommy is a freshman at Radford and their daughter Kelly is a senior at Virginia Tech. 

Ann Wagaman helping move her son Tommy into Radford University for his freshman year.

Enjoying their newfound freedom, "Empty Nesters" Ann Wagaman and her husband Ed kayak in Annapolis.

September is a favorite time of the year for many Cassaday & Company parents.  We hope you enjoy these Back to School pictures. 

Carter (3rd) and Walker (Kindergarten) are Justin Harris' children.

Kate (1st) and Bella (3rd) are the daughters of Kara Mauceri.

Chris Young's daughter Emily went to preschool this fall. Also pictured are his wife Elizabeth and son Christopher.

Babies, Babies and More Babies
What are the Harris Triplets up to?  Nick Harris and his wife, Anna, are settling into their new family routine with Tompson, Clare and Hayes; all of whom have recently begun to rollover, which can only spell trouble!   Nick and Anna want to extend their appreciation for all the well wishes they have received from clients and friends.

Top row: Clare and Hayes Bottom row: Tompson and Tex

While we have no new babies to announce in this newsletter...stay tuned in 2014.

 

 

Retirement is FUN for our Clients!

Tom, a longtime client and former Client Advisory Board member, and a friend enjoyed the trip of a lifetime visiting Scotland to play golf at St. Andrews.

Tom and a friend golfing at St. Andrews

 

Rich and Marg explored Alaska over the summer.  Snow-covered Mount McKinley provides a beautiful backdrop for this picture. 

Clients Rich and Marg exploring Alaska

 

Barbara and Ernie recently traveled to Nova Scotia where they went whale watching in the Bay of Fundy.   

Barbara and Ernie before their whale watching excursion.

 

Keep your pictures and trip updates coming!

 

Our Latest Awards...

 

Cassaday & Company has once again been recognized by the National Association of Board Certified Advisory Practices as a premier advisory practice in the greater Washington, D.C. area. This is the third year in a row that Cassaday & Company has received this recognition.
 

 

For the 6th year in a row, Cassaday & Company has been recognized by Barron's magazine as one of the Top 100 Independent Financial Advisors in the U.S.

Northern Virginia magazine named Cassaday & Company a Top Financial Professional for the third year in a row.  

  

Helpful Hints

Emergency Contacts

It may not be something you've given much thought to, but in the event of an emergency, it is very important that Cassaday & Company have alternative contacts, such as your children or POAs, on file for you.  Please contact Ann Wagaman or Linda Stewart, Directors of Client Services, with this information so that we can update our files. 

As part of our ongoing efforts to assure that your information with us remains secure, we are working with Royal Alliance Associates to encrypt all outgoing emails which contain any Personally Identifiable Information (PII).  Currently, we are implementing and testing a new encryption system.  Once we feel confident that the system is operating effectively, we will communicate with you about how to access encrypted emails from Cassaday & Company. 

Uploading Documents to your Client Portal 

Don't forget to upload your important documents to Cassaday's Tamarac Portal.  The portal is your personal online vault and it is a great place to securely store your important information.

To upload a document to your portal, follow these instructions: 

1. Click DOCUMENTS on the Tamarac Portal navigation bar:

2. Click the Post Document button on the Documents page:

3. Click the Choose File button.

a. A new dialog box will open that will allow you to choose a file from your personal computer.

b. Once you choose the file you want to upload, click Open.

c. You can then give the file any name you want.

d. Finally, click Post, and the document will be posted to your Document Vault. Your advisor will also be notified that a new document was posted to your Portal.

To access the Tamarac portal click on the "Account Access" tab in the upper right hand corner of our website, www.cassaday.com.
 
If you have not yet registered for access to the Tamarac portal, or if you need assistance with navigation, please contact Chad Cassaday at 703-506-8200 or at chad@cassaday.com. 

Great Question from a Client

Dear Steve,

I recently came across an error on my credit report. Is there any way I can fix it?

Thanks,
Margaret

Dear Margaret,

Good credit is an important part of your overall financial well-being. It can impact everything from the interest rates you'll pay to being a prerequisite for employment. As a result, you'll want to try to fix any errors on your credit report and have them removed as soon as possible.

Your first step should be to contact the credit reporting agency in writing to indicate that you are disputing the information contained on your credit report. The credit reporting agency usually has 30 days to complete an investigation of the disputed information. Once the credit reporting agency investigation is complete, they must provide you with written results of their investigation.

If, during its investigation, the credit reporting agency confirms that your credit report does contain errors, the information on your report either must be removed or corrected.

If the investigation does not resolve the issue, you still have a couple of options. First, you can try to mitigate the disputed information by adding a 100-word consumer statement to your credit bureau file. Even though consumer statements are often dismissed or ignored by potential creditors, it can at least provide you with a chance to tell your side of the story. You can also try to resolve the issue with the creditor that submitted the inaccurate information in the first place. The creditor will be obligated to investigate the disputed issue and notify you of its findings.

If you believe that the error is the result of identity theft, you may need to take additional steps to try and resolve the issue, such as placing a fraud alert or security freeze on your credit report. You can visit the Federal Trade Commission (FTC) website at www.ftc.gov for more information on the various identity theft protections that might be available to you.

Finally, due to the amount of paperwork and steps involved, fixing a credit report error can often be a time-consuming and emotionally draining process. If at any time you believe that your credit reporting rights are being violated, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) at www.consumerfinance.gov.

I hope this answers your question.

--Steve

Thank you,

Stephan Quinn Cassaday, CFP®, CFS

8180 Greensboro Drive, Suite 1180

McLean, VA 22102

703-506-8200 or 800 672 2102 

www.cassaday.com

Quick Links

Account Access

Awards and Recognition 

Archived Newsletters

Cassaday Videos

Employee Spotlight

Daven Foulk

Billing and Data Analyst

 * Joined Cassaday in 2011 as a consultant and became a permanent team member in 2012

 *Over 15 years of experience in both financial and business analysis