Pub. 5 2016 Issue 8

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 2016 KANSAS TRUST CONFERENCE Conference attendees take note of the changes outlined by Terri Thomas. T HE 2016 KANSAS TRUST Conference was held in Topeka at the Maner Conference Center on October 6 and 7. Over 70 trust officers attended this event and were able to spend valuable time networking with 23 business partner/ vendors between sessions. KBA Trust Division Board President Julie Dalton and KBA Board Chairman Jim Hoskins welcomed the attendees, and thanked the board for their hard work putting on this conference. Julie introduced keynote speaker James Chessen, chief economist for the American Bankers Association. Mr. Chessen provided an economic update which included current economic factors influencing the banking industry. His topics included interest rates, employment, inflation, business and consumer sentiment, as well as manufacturing and imports. He discussed global economic factors including the UK referendum on EU membership, and the influence that may have on the US economy. Following a networking lunch, Solon “Bud” Person, EVP of Wealth Management & Cash Division for Federated, spoke on the topic of “Money Market Reform.” His discussion focused on the fiduciary and investment aspects of utilizing retail and institutional prime and municipal MMFs versus government funds. Retired FBI Special Agent Jeff Lanza made a return appearance at the Kansas Trust Conference this year, last presenting in 2014. His presentation, “Preventing Fraud Against Seniors,” covered common scams and what family members and fiduciaries can do to help mitigate the vulnerabilities. His topics covered internet scams, bogus phone calls and telemarketing scams, with a focus on phishing, social engineering and computer hacking. Attendees were treated to three breakout session options this year. Kansas Senator Jeff King presented “Potential Ethical Pitfalls in Trust Administration;” Terri Thomas, SVP of the KBA Legal Department presented “Avoiding Fiduciary Liability – 2016 Case Law Update,” while Debbie Newman, VP/ trust officer from Southwest National Bank and Amy Thompson, trust operations manager for Central National Bank led a discussion forum on “Current Trust Operational Matters.” Thursday evening concluded with a reception sponsored by Federated, followed by dinner and entertainment from Topeka Civic Theatre’s Laugh Lines improvisational comedy troupe. Friday morning, Samantha Azzarello, VP and global market strategist from JP Morgan Funds began the day with her presentation entitled “Guide to the Markets: Separating the Signals from the Noise” in which she focused on the U.S. economy. She discussed current conditions and the long term outlook, along with equities and fixed income in terms of valuations, earnings, rates and risk return. An investment panel comprised of Terry Davis from T. Rowe Price, Jim McLaughlin from Central States Capital Markets, and Mike Droese from Goldman Sachs discussed stocks, bonds, and alternative investments from each of their unique standpoints within the market. Friday concluded with a presentation entitled “Threat of Litigation: There is (May Be) a Storm Coming” by T. Jack Challis from Polsinelli PC. Mr. Challis explored what estate planning professionals should do when they see litigation threats looming, how to recognize and address threats and how to avoid the danger all together. The conference concluded with a reminder to save the dates of October 12 and 13, 2017, for next year’s conference to be held in Lawrence at the DoubleTree!