By David Schaeffer

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This year will be exciting; new year, new government, new initiatives! As always, I look at what we can do to make a positive impact on our community.  At our firm, we are looking to continue to grow. We have two new initiatives that may employ upwards of an additional 10 people in 2017.

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One program will focus on the needs of wealth transfer and family income continuation. The great news is it will bring a new dynamic to our practice. It will serve folks in their 50s. Life is very different when you still have kids in the house, and you are taking care of your parents too. I am eager to serve the last of the baby boomers as we learn their needs, wants, and desires.

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As for the new government, I hope they focus on the spirit of the campaign promises. The Affordable Care Act is a major piece of legislation. Repeal makes nice rhetoric. REPAIR makes good sense for our country. We need access to health care without regard for pre-existing conditions.  It already works for folks on Medicare.  The solution may not be pretty, but we, as a country, must strike a balance between what we need and who is going to pay for it. It is not legal to force an insurance company to lose money. (BCBS of Arizona alone lost $221 million in 2015 and 2016, which was not reimbursed as promised under the not very Affordable Care Act.) On the other hand, it is not moral to allow someone to die because they do not have access to adequate health care. These are big issues. I look forward to real, workable solutions from this administration.

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The previous administration has also passed a  law which goes into effect April 10, if not    repealed or pushed to a later date, that will    require a financial advisor to act in the best interest of a client. Our company has always exceeded all fiduciary standards, so I agree with the spirit and intent of the law. The challenge with complying with the law is there are no rules available to comply with anywhere to be found.  Additionally, everyone will now need to pay fees, which we rarely charged in the past, on their entire IRA portfolio. Legislation has been introduced to delay implementation until rules can be agreed upon, which is good thing!

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Where do we go from here?

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In change, there is opportunity; all we need to do is find it and help people on their way through it, and we will!