February 2009
Feb 5, 2009
Hi :
In this issue:
2009 MOKAN Trust Conference
Mark your calendar for 2009 Iowa Trust Conference
It's A Matter of Trust - ITA Offers Brochure to Promote Choosing a Corporate Trustee
The Importance of a Written Investment Policy Statement
Contribute to Iowa Trust Association
Trustcompare.com
2009 MOKAN Trust Conference The opening keynote speaker will be Brian Wesbury, a prominent American economist and economic forecaster. Brian is the Chief Economist at First Trust Advisors L.P., a financial services firm headquartered in Lisle, IL. He is always optimistic about the economy, and we could use some of that about now! The conference will also feature Dr. David Kohl, Professor Emeritus at Virginia Tech, who will speak on the economy with particular emphasis on the Midwest farm economy. Also speaking will be Michael Kitces, who is the Director of Financial Planning for Pinnacle Advisory Group and a member of the firm's Management Team. Michael will speak on the credit crisis and on trusts as beneficiaries of IRAs. Some other favorites will be Steve Goodman, Sally Miller with a Washington Update, Skip Fox with Recent Developments in Estate Planning and Trust Administration, and Sal Tripodi with an Employee Benefit Update. As always, there will be lots of time to network with over 40 national vendors and over 200 fellow trust officers in addition to enjoying all that Kansas City has to offer. With all the volatility and uncertainty that we face in performing our jobs these days, this year's conference is a MUST! Your clients are counting on you to keep abreast of the all the changes in the markets and laws, to safeguard their assets, and to provide them with the most value for your services. For more information see the This cost effective brochure is 5½” x 8 ½” and can be personalized with your bank name, address, city state, phone and web address. Educate your trust clients about the qualities that make an effective trustee with these helpful brochures. Order a supply of these brochures today. To see the complete text of the brochure, go to A written Investment Policy Statement (IPS) is one of the most powerful and important tools for your trust prospects and clients. The IPS forces you to document in writing all aspects of your client's investment needs and strategy. It provides a disciplined investment plan that serves as both a blueprint and a report card. A good IPS should include an honest appraisal unique to your client. It should address specific investment goals and objectives, investment time horizons, risk tolerance levels, key forecasted life events, tax status, types of permitted investments and other pertinent information. It may also include other key members of your client's financial team. The high degree of market volatility we have experienced over the past 12-18 months has reinforced the importance of a written IPS. We all have observed the emotions that many times can interfere with sound investment plans and decisions. These emotions often lead to poor investment decisions and timing, causing investors to buy or sell at the worst possible times. A well written IPS should assist investors in resisting the temptations of making sudden "knee jerk" reactions to current and future market conditions. A well written IPS should also spell out the appropriate types and characteristics of investments, providing the basis and criteria for evaluating future investment opportunities. One last feature of an IPS is to define the method for monitoring and measuring the progress and success of the client's investment portfolio. This report card aspect should not just focus on performance. Review with your client the reasons and factors in place at the time the IPS was drafted to ensure they still apply. A good IPS should allow flexibility to facilitate changes and adjustments should your client's needs change over time. You and your client should meet at a minimum of once a year to discuss all aspects of the IPS and determine if any adjustments or revisions are appropriate. Brian Rolland is a member of the sales, marketing and client services team at WB Capital Management Inc. He may be reached at (800) 343-7084 or
by Steven J. McLaughlin, Vice President & Senior Trust Officer, First National Bank, Ames
2009 MOKAN Trust Conference
Be sure to mark your calendar for the 2009 MOKAN Trust Conference that will be held May 6-8, 2009. The conference will be held at the Hyatt Regency Crown Center Hotel in Kansas City.
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Mark your calendar for 2009 Iowa Trust Conference
The Annual Iowa Trust Association Conference will be October 8-9, 2009 at the Marriott Courtyard in Ankeny. Mark your calendar now!
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It's A Matter of Trust - ITA Offers Brochure to Promote Choosing a Corporate Trustee
Choosing qualified trust professionals is an important part of estate planning. How do you counsel clients and potential clients about the qualities of an effective trustee? To help you the Iowa Trust Association has produced a brochure outlining the qualities of an effective trustee and the advantages of a corporate trustee.
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The Importance of a Written Investment Policy Statement
By Brian Rolland, Vice President Institutional Investments, WB Capital Management Inc.
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Contribute to Iowa Trust Association
As a reminder, the Iowa Trust Association (ITA) welcomes contributors to their quarterly newsletter.If you would like to comment on recent activities in the industry or let us know about an upcoming event that would be of interest to our readers, please feel free to contact Darcy Burnett, at (800) 800-2353 or dburnett@iowabankers.com. Thank you for your interest in our publication and we look forward to hearing from you!
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Trustcompare.com
Trustcompare provides valuable information ranging from broad references to industry standards to specific detail of your strengths and weaknesses. From data submitted by each organization regarding assets, income, expenses and profits, Trustcompare analyzes performance from several perspectives. Trustcompare allows you to compare your trust department performance with that of similar organizations. As a member of the Iowa Trust Association, you will receive 10% off the price. Visit Trustcompare at www.trustcompare.com.
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