Pub. 4 2015 Issue 9

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 12 KBA TRUST CONFERENCE IN THE LITTLE APPLE Steve Shields, Action Pact, shared his innovative vision for senior living. Peggy Leslie, The Trust Co., was one of 12 prize winners. T HE KBA TRUST DIVISION HELD THEIR annual conference in Manhattan with a strong agenda and entertainment in Aggieville to boot. A record crowd and full slate of vendors provided for education and networking that isn’t found elsewhere. There are 15 things that lead to success according to Rocky Miskelly. Among others he listed family first, time management and being of excellent character. Rocky is the EVP and Director of Wealth Management for Renasant Bank and he exhibits the mantra on his heart, “Prayer always works and love always wins…eventually.” He opened the 2015 KBA Trust Conference with a powerful and energetic presentation on “How to Succeed in Life and Business.” An ethics program was given by Kansas Deputy Attorney General Dennis DePew under the title, “Other People’s Money.” He discussed ethical rules related to cash and other property as well as how to keep it properly and safely protected. Also included were record keeping and accounting rules examples. As people look to the American dream in retirement there are key concepts to consider. Spending declines over time for multiple reasons but this fact is often overlooked. Sharon Carson of JP Morgan noted that people are happier when they spend their money on someone other than themselves. With this in mind, you can see how large purchases slow and smaller, meaningful spending takes its place. In her presentation, “Guide to Retirement and Spending Patterns in Retirement,” she revealed multiple guidelines including how to maximize social security benefits and options to consider when changing jobs. The conference had two powerful breakout sessions. Rocky Miskelly gave a sales presentation on how to set-up deliverables when you don’t have a widget and you’re selling an invisible product. His process of turning a prospect into a customer is a document driven solution. The second breakout was an operations session titled, “Fireside Chat” which provided discussion regarding new regulations to unbundle fees. The system will require a bifurcated fee that must be stated in the trust policies. Ken Green, from Mitchell Capital Management, gave an overview of equity and fixed income markets. Green doesn’t believe the market is in a bubble. Walking through the calendar from 2008 he noted how the markets reacted to world events and discussed emerging markets as well. He outlined the sectors that have done well and included those that have struggled in this bifurcated market with oil down but the other sectors only off 2%. Steve Shields is the President and CEO of Action Pact Holdings, LLC. He demonstrated his passion for elder care through compassionate stories and examples of a new, person centered framework. Shields is leading an innovative health management system where people with complex medical conditions can access doctors, specialists, and therapies in a comprehensive way where the patient is in the driver’s seat. He is building multiple care centers in northeast Kansas over the next two years. Brad Davidson, SPARdata, gave a presentation, “Unique Assets Administration – Do’s & Don’ts.” He outlined multiple examples such as mineral interests and non-publically traded stock. This presentation provided considerations for fiduciary responsibilities in unclear or uncommon circumstances. Dr. Barry Flichbaugh closed the conference with some Little Apple flair that included rants on political economics, discussion on growth and spending at the state and national levels and of course, satire on economic policy.