Michael Joyce Helps Businesses Prepare for Disaster
Michael Joyce recently wrote an article for Lehigh Valley Business in a special section on Business Disaster Planning & Recovery. The article, titled “Planning and insurance – the two keys to disaster recovery,” focuses on how businesses can prepare for a variety of unexpected disasters, including hacking, vandalism, and an extended power outage. To read Michael’s suggestions, click here.
Michael Joyce Shares Thoughts on Recent Executive Order
Richmond Times-Dispatch recently published an article summarizing two executive orders signed by President Trump. One of them directs the Department of Labor to delay implementation of the fiduciary rule, a rule JoycePayne Partners strongly supports. In the article, Michael shares his thoughts on why the rule would be beneficial for financial consumers.
Excerpt from “Trump orders review a 2010 financial oversight law and of the ‘fiduciary rule'”. Richmond Times-Dispatch. February 3, 2017.
Trump also signed a presidential memorandum Friday that instructs the Labor Department to delay implementing the “fiduciary rule,” an Obama-era rule aimed at blocking financial advisers from steering clients toward investments with higher commissions and fees that can eat away at retirement savings.
The rule, which was set to take effect in April, will be delayed for 90 days while it’s reviewed.
Critics argue the rule limits retirees’ investment choices by forcing asset managers to steer them to the lowest-risk options.
However, Michael Joyce, president of JoycePayne Partners, a financial planning firm in Richmond, said he supports the fiduciary rule and considers the decision to delay it “misguided.”
“I see nothing wrong with acting in the best interests of financial consumers rather than the less stringent ‘suitability’ standard where an investment advisor can put his or her interests first as long as investments are ‘suitable,’ ” Joyce said.
Joyce said “entrenched incumbents” have opposed the rule to restrict competition, and he thinks that the enhanced disclosure “will actually bring down costs for financial consumers who participate in retirement plans.”
Michael Joyce Describes the Benefits of Cash Balance Plans
Michael Joyce wrote an article for Lehigh Valley Business that was published on January 9, 2017. The article describes the key characteristics and some of the benefits of a cash balance plan. A cash balance plan is described by the Department of Labor as a defined benefit plan that reports like a defined contribution plan. To read the entire article and learn more about this type of retirement savings vehicle, click here.
Michael Joyce Answers Questions from The Morning Call
The Morning Call published a question and answer series on December 15, 2016, featuring Michael Joyce’s responses to questions about year end investment and financial planning tips. Should you sell stocks to reduce your tax exposure? What is the biggest mistake people make with their financial planning? To see Michael’s answers to these questions and others, click here.
Michael Joyce Talks to VA Business About Millennials
Every business is concerned with how Millennials will affect their business model and future success, and the financial management industry is not exempt from that concern. Michael Joyce spoke with Virginia Business about how we are adapting to serve these clients. One key idea – fast and interactive communication. To read the entire article, click here.
Michael Joyce Comments on Post-Election Volatility
Michael Joyce offered his feedback to Richmond Times-Dispatch about the likelihood of short-term volatility given Donald Trump’s victory in the U.S. presidential election. Michael comments that markets dislike uncertainty of any kind, but post-election volatility is usually short term and has less of an impact that other types of uncertainty. To read the entire article, click here.
Elissa Wurf Joins JoycePayne Partners
BETHLEHEM, PA – November 3, 2016 – JoycePayne Partners announces that Elissa Wurf, CPA has joined the firm in its Bethlehem, Pa. office as a Financial Planning Analyst. Ms. Wurf has extensive tax and financial planning experience serving clients in the Lehigh Valley. She joins the firm from MB, Levis & Associates where she served as Director of Financial Planning.
“Delivering personalized and objective financial management strategies that serve the best interests of our clients is the foundation of our firm,” said Michael Joyce, CFA, CFP, President of JoycePayne Partners. “Elissa brings a great deal of expertise and success to JoycePayne Partners. She will be a trusted and indispensable advisor to our clients in the Lehigh Valley.”
Ms. Wurf is a Certified Public Accountant and currently pursuing a Certified Financial Planner™ designation. She has over six years of experience working with clients on variety of complex tax, retirement planning, and investment strategies. She specializes in providing strategic retirement and tax planning for high-net worth individuals and families as well as estate and risk management planning. Additionally, Ms. Wurf serves as the Education Chair for the Lehigh Valley chapter of the Pennsylvania Society of Tax and Accounting Professionals. She is a graduate of the Wescoe School of Muhlenberg College and the University of California, Los Angeles.
“I am very excited to join the JoycePayne Partners team,” said Ms. Wurf. “JoycePayne Partners has a strong reputation as a leading financial planning and investment management firm in the Lehigh Valley and across the country. The firm’s philosophy and core values align with my passion and I look forward to helping our clients reach their financial goals.”
Michael Joyce Offers Opinion on Interest Rate Hike
Michael Joyce authored an article published by Lehigh Valley Business on October 24, 2016 about the anticipated effect of an interest rate hike by the Federal Reserve’s Federal Open Market Committee. Michael points out that interest rates can and should go up. The question should not be when the Fed will raise rates but rather by how much. To read the entire article, click here.
Michael Joyce Writes About a Market Paradox
Richmond Times-Dispatch published an opinion piece by Michael Joyce titled “Market paradox: consumers thrive while business frets.” In the op/ed, Michael discusses how it is that investment markets are performing very well so far this year, while GDP growth has been “anemic.” To read the thought-provoking article, click here.
JoycePayne Partners Announces Arrival of Financial Strategist
JoycePayne Partners announces that Carrie Fellon, CFP®, CRPS, has joined the firm as a Financial Strategist in the firm’s Bethlehem, Pa. office. Ms. Fellon has worked with clients on financial planning and strategy since 2004 and was previously the President of Life Stage Financial Solutions and a Financial Planner at Legacy Planning Partners in Allentown, Pa.
“Providing our clients with personalized and objective financial management strategies is at the core of who we are as a firm,” said Michael Joyce, CFA, CFP®, President of JoycePayne Partners. “Carrie has a proven track-record of doing just that and will be a great asset to our clients and team in Pennsylvania.”
Ms. Fellon is a Certified Financial Planner™ and Chartered Retirement Plans Specialist. She has over 12 years of experience working with clients on developing holistic financial plans, interviewing clients and working with them to implement their plan, and researching and recommending investment strategies. Additionally, Ms. Fellon is an adjunct faculty member at Northampton Community College in Bethlehem where she teaches personal finance classes on college planning and Social Security maximization strategies. She is a graduate of Centenary College in Hackettstown, New Jersey.
“I am so thrilled to be joining JoycePayne Partners,” said Ms. Fellon. “For over 20 years, the firm has been a leader in the financial planning industry in the Lehigh Valley and I am really looking forward to the opportunity to serve our clients.”
Richmond Times-Dispatch Quotes Michael Joyce
Richmond Times-Dispatch quoted Michael Joyce in an article published on September 24, 2016 titled “New rules cause rippling effect in retirement planning industry.” The article, addressing the new Department of Labor rules around advising retirement accounts, quotes various local industry experts for their take on the rule. Michael said, “I don’t think you can go wrong acting in the best interest of clients.” To read other thoughts from Michael and the rest of the article, click here.
Michael Joyce Discusses the Impact of the DOL’s Rule on Employers Offering 401(k)s
Michael Joyce recently wrote an article for Virginia Business discussing how the Department of Labor’s new fiduciary rule will impact businesses offering 401(k) plans to their employees. The rule is designed curb conflicts of interest in the retirement investment industry, but this will require businesses to pay close attention to how they oversee their plans. To read the entire article, click here.
JoycePayne Partners Welcomes Financial Planning Analyst
JoycePayne Partners announces that Daniel Honsberger has joined the firm in its Richmond, Va. office as a Financial Planning Analyst. Mr. Honsberger has over 10 years of financial services experience. He joins the firm from Capital One where he was a Senior Manager of Financial Analysis.
“Dan’s experience in financial analysis makes him a great addition to our team,” said Michael Joyce, CFA, CFP, President of JoycePayne Partners. “He has a demonstrated track record of analyzing financial situations and modeling financial projections and I know that he will serve our clients well.”
Mr. Honsberger will be working with clients on the development and implementation of comprehensive financial plans. His move to our team was driven by his desire to work with individuals and families on a personal level to help them achieve their financial goals. He is a member of the Financial Planning Association of Central Virginia and is currently pursuing his Certified Financial Planner designation. Mr. Honsberger is a graduate of The Ohio State University.
Discussing his arrival at the firm, Mr. Honsberger commented: “I am so excited to be working with the team at JoycePayne Partners. The entire firm has such an incredible reputation throughout the Mid-Atlantic for providing unique and customized financial strategies for clients. I believe strongly in their philosophy of ‘Always be of value to your client’ and look forward to building that trust with our clients.”
Journal of Financial Planning Publishes Article About Hiring and Retaining Millennials
Journal of Financial Planning published an article in their September 2016 issue written by Cindy Joyce and Davis Barry. The article, addressing the financial planning industry specifically, discusses six strategies for successfully hiring and retaining millennials. To read the entire article, click here.
Marilee Falco Recommends Volunteering as a Means to Personal and Professional Development
Lehigh Valley Business published an article by Marilee Falco in their “Focus on Women In Business” section on September 12, 2016. In the article, Marilee suggests that professional women pursuing satisfying careers should be sure to consider becoming involved in philanthropic endeavors. The involvement produces a win-win-win situation. To read the entire article, click here.
Cindy Joyce and Davis Barry Write About How to Attract Millennials
Lehigh Valley Business published an article on August 15, 2016 written by Cindy Joyce, COO of JoycePayne Partners, and Davis Barry, Financial Planning Analyst. The article discusses that businesses must understand what millennial job candidates and employees are looking for in an employer. A couple key concepts are clearly-defined expectations and work/life balance. To read the other suggestions that Cindy and Davis make, click here.
Cindy Joyce and Conor Clark Discuss the Advantages of Social Media
Cindy Joyce and Conor Clark co-authored an article published in Lehigh Valley Business about how companies can take advantage of social media. Given that social media offers free access to large audiences, businesses would be wise to invest the time in developing their presence on these platforms. To read Cindy’s and Conor’s recommendations for using each social media network, please click here.
Midyear Financial Check-In by Michael Joyce
Michael Joyce wrote an opinion article for Lehigh Valley Business this month recommending a midyear financial check-in. Michael suggests reassessing short- and long-term goals, updating any estate planning or insurance documents if necessary, and making sure that your tax situation is in line with your expectations for 2016. To read the entire article, click here.
Michael Joyce Encourages Young Employees to Save Early and Often
Michael Joyce wrote an opinion article for Lehigh Valley Business that was published on May 23, 2016. The article describes the benefits of saving a portion of your salary in a 401(k) beginning as early as possible. Michael also discusses taking advantage of any employer matching program, if offered, as well as setting up automatic contributions to make saving easier. To read the entire article, click here.
Michael Joyce Writes about Protecting Your Investment in a Startup
Michael Joyce wrote an opinion piece for Virginia Business titled “Protecting Your Investment in a Startup” that was published on May 5, 2016. In the article, Michael recommends that any potential investor carefully analyzes the venture’s business plan, make any loans official with proper legal documentation and go into the investment prepared to walk away (don’t throw good money after bad). To read the entire article, click here.