Posts Tagged ‘Alcoa’

New Blount Education Initiative Survey Confirms Parents Play Key Role in Influencing Students to Graduate from High School

Tuesday, May 4th, 2010

Maryville, Tenn. —   Note to parents: your children are listening. Encourage them to finish their high school education. Note to graduating seniors in Blount County: you have a jump-start on the rest of your life, with more than 90 percent of you planning further education and training after high school.

This information comes from the second annual graduating senior survey by the Blount Education Initiative (BEI), released today and including the area’s four high schools:  Alcoa, Heritage, Maryville and William Blount. Questions ranged from post-high school plans to level of interest in staying in Blount County to join the local workforce.

The survey results confirmed the vital role that parents play in influencing a child to graduate from high school. When asked “Who influenced you the most in your decision to complete high school?” 76 percent of students ranked parents as the most influential, up slightly from BEI’s 2009 study of 75 percent.

“Research consistently tells us that when parents are involved in their children’s educational lives, more positive outcomes are achieved,” said Bonny Millard, executive director of BEI. “A great deal of research is available to validate the profound benefits for both students and schools when parents and family members become participants in their child’s day-to-day educational experience.”

The BEI survey results substantiated the fact that young people look to their families, particularly their parents, to set the example and the expectation about education.

“Blount Education Initiative’s goal is to make education the number one priority in the community, but that can only be achieved if parents are aware of their role in their own child’s educational achievement and actively fulfill it,” Millard said.

The results of the survey revealed that students understand the importance of post-secondary training or education. More than 90 percent said they planned to obtain some type of training, certification or education after high school to help prepare for a career. This includes two- and four-year colleges, career technical training and military service. Only 2 percent said they planned to join the workforce immediately after high school compared to 7 percent in 2009.

Since its inception, one of BEI’s key messages is that students will have to have additional training or education after high school in order to be successful in today’s global economy.

“During the past few years, BEI has urged students to continue their education after high school to prepare for a career and ultimately a better quality of life,” Millard said.  “We’re thrilled that not only do our graduating seniors understand this message, but also that they are following up with action.”

When asked whether or not students felt prepared for life after high school, 87 percent of respondents reported they felt very prepared or somewhat prepared. Up two percentage points from last year, 82 percent of Blount County’s graduating seniors from the four high schools reported plans to attend a two- or four-year college. 

On a scale of 1 to 10, with 1 meaning “do not agree at all” and 10 meaning “completely agree,” seniors ranked their level of agreement with several statements regarding educational attainment as follows:
• “It’s important to have a high school education.”  (9.50)
• “Education should be a top priority in Blount County.”  (8.52)
• “It’s important to have a college education.”  (8.12)
• “It’s important to have job training after high school.”  (8.07)
These results were largely comparable to results from the 2009 survey.

“BEI certainly is pleased that seniors from our four high schools widely agree about the importance of graduating from high school and the need to pursue further skills and knowledge after graduation,” said Matt Murray, president of the Blount Education Initiative. 

When students were asked to rate their level of interest in staying in Blount County after high school or moving back after completing college or other training, 50 percent of the graduating seniors said they were either somewhat interested or very interested in either staying or moving back to Blount County.

ABOUT BLOUNT EDUCATION INITIATIVE:
The Blount Education Initiative’s (BEI) mission is to make education the Blount County community’s top priority by developing a sustained public awareness campaign focusing on the critical issues related to education, supporting local schools in their efforts to provide a top-notch education for all students and serving as a bridge between the educational community and businesses to develop meaningful collaborations. 
Achieving consensus about education’s vital importance, and what forms of support are required to achieve educational excellence, requires an organized, concerted campaign involving information exchange, dialogue, learning and persuasion.  That’s why BEI exists – to facilitate this process.

METHODOLOGY FOR BEI SURVEYS IN 2010:
Each of the four high schools in Blount County (Alcoa, Heritage, Maryville and William Blount) asked graduating seniors to complete a one-page written survey for BEI in March 2010.  A total of 876 surveys were completed and returned to BEI.  The survey data was not weighted.

Kevin Painter Earns Accredited Investment Fiduciary (AIF) Designation from fi360

Monday, January 25th, 2010

Maryville, Tenn. – Kevin Painter, managing partner of Alcoa-based LeConte Wealth Management, has been awarded the Accredited Investment Fiduciary® (AIF®) designation from Fiduciary360 (fi360), an organization offering training, tools and resources to promote a culture of fiduciary responsibility and improve the decision-making processes of fiduciaries.

Fiduciary responsibility can be defined as the ethical and/or legal relationship of confidence or trust between two or more parties. The AIF designation signifies knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a two-day course and examination.  

 “The AIF designation will allow me to consult with retirement plan trustees and business owners on their fiduciary responsibility to their employees,” Painter said.   

Fi360, based near Pittsburgh, Pa., is the first full-time training and research facility for fiduciaries and conducts training programs at universities throughout the United States and abroad.


ABOUT LECONTE WEALTH MANAGEMENT, LLC:
Established in 2007 and located at 269 Cusick Road, Alcoa, Tenn., 37701, LeConte Wealth Management, LLC helps clients develop a plan to accumulate and preserve their wealth in pursuit of their unique financial goals.  With more than 30 years of cumulative experience, the firm’s team provides asset management, retirement planning, estate planning, risk management and business planning. Securities and Advisory Services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser.

About fi360
Fi360 offers training, tools and resources to promote a culture of fiduciary responsibility and improve the decision making processes of investment fiduciaries – individuals who manage money for others. It licenses the Prudent Practices for Investment Fiduciaries from the Foundation for Fiduciary Studies. Fi360 provides investment education and training programs and awards the Accredited Investment Fiduciary® (AIF®) and Accredited Investment Fiduciary Analyst™ (AIFA®) professional designations through the Center for Fiduciary Studies. It develops sophisticated Web-based tools and reporting, including the innovative Fiduciary Score™ and the Family Fund Fiduciary Rankings™ for trustees and investment professionals through Fiduciary Analytics.

LeConte Provides Insights on Financial Care for Elder Family Members

Monday, November 9th, 2009

Alcoa, Tenn. — It’s an overwhelming question many adult children must face at some point: “How can I care for my elderly family members well when I don’t feel financially prepared or have the right expertise?” 

With November recognized as National Family Caregivers Month, people with aging parents or elder family members should consider the issues their loved ones face and what types of support will be needed, both in the near-term and long-term, according to Alcoa-based LeConte Wealth Management.

“Most families are not financially prepared to take care of their parents,” said Andy Oakes, financial adviser for LeConte Wealth Management. “But as parents grow older, it’s likely they will need help and assistance making important decisions.  That’s why it’s critical to begin a dialogue and a planning process early on that involves both the elder family members and their care-givers to identify issues and challenges requiring attention.”

Recent statistics demonstrate that elder care family needs facing young to mid-life adults are significant and growing:

  • According to AgingStats.gov, there were more than 90 million people over 60 years of age living in the United States as of 2004.  
  • The Administration on Aging estimates that, out of roughly 106 million households in the United States existing in 2003, more than 22 million (or roughly one in five) were providing informal care to one or more elderly persons.
  • Statistics also suggest that approximately one in 10 workers were employed in elder care related fields.

“These sobering statistics demonstrate that the need for elder care is universal,” Oakes said.  “As with any financial reality that you know is coming down the road toward your family and loved ones, it’s smart to begin addressing it sooner rather than later.” 

According to Oakes, procrastination can be a costly enemy – especially for older family members who can participate in conversations about their care and their finances today but may not be able to do so a year from now due to health issues.

“Adult family care-givers must be aware of these timing concerns and initiate conversations about planning, allowing elder loved ones to remain empowered and to exercise control over as many decisions as feasible,” he said.

LeConte Wealth Management offers several tips for families to get started on the most appropriate financial path for providing elder care:

Be proactive in developing a realistic plan. 
Determine what financial assets are available for elder care and then ask, “What will these assets cover and for how long will they cover my loved one’s specific needs?”

Be aware of options.
What levels of care are available and appropriate?  If transitioning to an assisted living facility, research the types of additional government assistance available (i.e. veterans benefits, Medicaid).

Think ahead. 
Though it might be feasible to have an elderly family member move in with one of their children, what will happen if their health deteriorates?  What are likely to be the next stages of health concern, and what will these demands require in terms of transitioning to more advanced care?

Tips for someone caring for an elderly family member at home:

  • Medicare does not cover long-term care expenses.  Medicaid, based upon financial need, may provide support, but the type and manner of covered care is limited.
  • Secure powers of attorney.
  • Attend medical appointments with the patient.  Consider taking notes or even keeping a journal record of doctor visits to help manage complicated medical information.
  • Be realistic about what is affordable and for how long.
  • Be respectful of the elder family member’s desire to remain in charge of personal affairs, but be aware of diminishing capacity to fulfill them.
  • Seek outside help when needed.

What are the financial steps one should take when preparing to care for an elderly family member?

  • Assess the financial impact of the loved one’s current and likely future needs.
  • Determine what financial resources are available to meet these needs and how they should be accessed (from what accounts, in which order, and how much).
  • Secure financial and healthcare powers of attorney (POA).  Ensure that financial providers and insurance carriers are aware of POA role.
  • Clearly define ongoing financial roles (i.e. who will be paying regular bills, who will review nursing home expenses, what role can the elderly family member continue to play in directing their own affairs?).

What advice do you have for someone caring for an elderly family member by way of their retirement savings?

  • Recognize the shift in priorities to generating current income and providing liquidity.  Portfolio risk should be minimized.
  • Assess the financial impact of their current and likely future needs.
  • Determine what financial resources are available to meet these needs.

What is an ideal scenario (in terms of finances) when taking care of an elderly family member?
The key elements should include:

  • A realistic plan of care
  • Resources sufficient and invested appropriately to provide for that care
  • Respect for the family member’s participation in making ongoing decisions and desire to remain independent as appropriate
  • Division of responsibilities in providing ongoing financial monitoring, medical supervision and emotional support

What is a worst-case scenario (in terms of finances) when taking care of an elderly family member?  (Example:  elderly family member has no financial funds or huge medical debt.)  Any tips for a worst-case scenario?
Some negative scenarios might include the following:

  • Emotional barriers can sometimes prevent families from exercising control, resulting in unintended financial negligence by elderly family members, leaving them unable to support themselves financially.
  • Existing investments are not structured to take advantage of applicable tax deductions and government aid.
  • Available government aid, insurance benefits or other supplemental income are forfeited because no one knows to apply for them.

Across many of these different situations, it’s important to try to take out the emotional factors that might lead to bad decision-making.  To the extent that a person can remove financial considerations or deal with them separately, emotional stress can be reduced.

Please visit LeConte Wealth Management’s web site for more financial information and access to free financial tools and calculators.

ABOUT LECONTE WEALTH MANAGEMENT, LLC:

Established in 2007 and located at 269 Cusick Road, Alcoa, Tenn., 37701, LeConte Wealth Management, LLC helps clients develop a plan to accumulate and preserve their wealth in pursuit of their unique financial goals.  With more than 30 years of cumulative experience, the firm’s team provides asset management, retirement planning, estate planning, risk management and business planning. Securities and Advisory Services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser.