Local Wealth Management Firm Sponsors Oregon Health and Science University ‘Women, Health and Happiness’ Event

by Ashley Baldwin in

McGee Wealth Management (MWM) is partnering with Oregon Health and Science University (OHSU) to host “Women, Health and Happiness,” an evening of fine dining and presentations from OHSU’s leading experts on women’s health. The event will be held on April 17 from 6:30 p.m. to 8:30 p.m. at Aquariva Portland at the River’s Edge Hotel and Spa, located at 0470 SW Hamilton Ct., Portland, OR 97239.

McGee Wealth Management embraces a philosophy that encourages people to enrich their lives by leading a positive, healthy lifestyle. To share the firm’s mentality with the community, MWM President and CCO and Raymond James Co-Branch Manager D. Linette Dobbins contributes annually to OHSU’s Circle of Giving, a prestigious group of women who support the OHSU Center for Women’s Health. She donates annually and participates in continuing education programs that aim to blend medicine and philanthropy.

“The Circle of Giving is an essential component of our philanthropic efforts at McGee Wealth Management,” commented Dobbins. “The contributions made by Circle of Giving donors provide funding to basic research and specialized programs at the hospital, and it’s incredible to know that those medical advancements will impact the lives of women all over the world.”

Event speakers include the following experts from OHSU:

Sanjiv Kaul, M.D., a cardiology specialist who pioneered the field of microbubble echocardiology, a powerfully effective screening test for the early detection of coronary heart disease. As the head of the division of cardiovascular medicine, his major clinical and research interest is coronary artery disease.

Elizabeth Eckstrom, M.D., M.P.H., associate professor and director of geriatrics and co-director for the OHSU Healthy Aging Alliance. She practices both primary care and consultative geriatrics and focuses on promoting a healthy lifestyle in older adults and in educating all health professionals to be competent in the care of older adults.

Michelle Berlin, M.D., M.P.H., an OB/GYN and preventive medicine specialist whose clinical efforts focus on the maintenance of health and disease prevention for women, including evaluating abnormal Pap tests with colposcopy and other procedures. Her research pursuits also focus on screening and prevention services, particularly cancer screening and detection, disease prevention and health promotion.

OHSU, the speakers and the companies they represent are independent of Raymond James. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or use of information regarding any website’s users and/or members

Judith McGee presents how to loan money to your adult children on AM Northwest

by Ashley Baldwin

Judith McGee, L.H.D., C.F.P.®, and Chair/CEO of McGee Wealth Management offers tips on lending money to children through True Wealth, her new column in Boom Boomers and Beyond Magazine. In the most recent True Wealth column titled ‘Don’t Be The Bank’ McGee points out that while many Gen Xers and Millenials have financial challenges from job scarcity and student loan debt, parents need to make careful choices about lending or gifting money to their kids.

“Don’t drain savings or dip into retirement funds to bail kids out,” McGee advises. Family dynamics are also an important consideration when offering financial help. Jealousy and resentment can build if transparent communication about motivations and details of any financial transaction between family members is not clearly defined. “Lending money must be conducted in a business-like manner, even between family members. Put the terms in writing, agree on a payment schedule and consider an interest rate. This is a money learning opportunity for the child,” McGee says.

McGee also advises that parents should know about the “applicable federal rate”, a rule stating that a minimum rate of interest set by the Treasury must be charged if loaning to a family member, or the parent will risk having to pay a gift tax and possibly have other income tax consequences if the loan is sizeable.

McGee recommends parents collateralize a loan at the bank and have the child borrow from the credit union or bank. The money stays in a Certificate of Deposit and the child fills out a loan application that is secured by the CD. This establishes a credit rating for the child, the loan is 100% secured, and the interest rates are usually around 2% above the bank rate of the CD.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision. This information is not intended as a recommendation to buy or sell any investment referred to herein. You should discuss tax and legal matters with the appropriate professional. Any opinions are those of Judith A. McGee and not necessarily those of RJFS or Raymond James.

When a Client Couple Splits, Whose Advisor Are You?

by Ashley Baldwin

By R. A. Monroe
Financial Advisor IQ, a Financial Times service

April 23, 2014 | Middle-aged Americans are untying the knot. The divorce rate among people 50 and older has doubled since 1990, even as the nation’s overall divorce rate has inched downward. And as advisors see more of their long-term client couples succumb to the trend, many will find themselves in a situation calling for finesse — especially when they have a relationship with each spouse individually. The challenge: to provide support and advice for both clients while trying not to take sides.

As soon as advisors hear a client couple is splitting, they should decide on a protocol for the advice relationship and put it in writing, says Kathleen Miller, founder of Kirkland, Wash.-based Miller Advisors, a Raymond James Financial Services affiliate managing $160 million in assets. “You need to clearly define whom you’re going to take direction from and whom you’re going to share information with,” Miller says. “Then you need to let both parties know that you’ll be sticking to those policies.”

Advisors who have worked closely with both clients can be enormously helpful when it comes to dividing assets, according to Miller. “You know their personal budgets, their red flags, their individual priorities,” she says. “Reminding clients that you’re in a good position to come up with a win-win settlement that is relevant to their particular case can help defuse the animosity.”

She suggests that advisors tell both clients they intend to take a neutral stance. Doing so can help avoid a common problem: inadvertently allying with the client who calls more often or makes more of a fuss.

Judith McGee of McGee Wealth Management, a Raymond James Financial Services affiliate in Portland, Ore., that manages $420 million in assets, agrees it’s crucial to stay impartial. She says advisors should be careful with the language they use, particularly when both spouses are in the room. “You listen, and you don’t comment,” says McGee. “You can say things like, ‘I know this must hurt badly,’ or ‘I have other clients who have gone through this process, and it does get better.’ But you want to avoid picking sides.”

Because of the heavy emotional weather, McGee says, advisors should be prepared to see divorcing clients struggle when dividing up their wealth — and not just assets with deep sentimental value, like a home. “You’d be surprised at how attached people can feel to joint assets like retirement accounts and annuities,” McGee says. She recommends emphasizing what each spouse stands to gain, not what’s being given up. For example, an advisor might suggest a trade-off in which one client retains more assets and the other collects more alimony. “That can help give everyone a sense of control in an often-chaotic time,” says McGee.

Who Gets the FA?

Some clients may not feel comfortable continuing with their advisor after a divorce, says Nicole Romito, a lead advisor with Chicago-based Financial Strategy Network, which manages $700 million in assets. Recently, she addressed such a situation by keeping the wife as a client while the husband switched to a different advisor with the firm. But any time both clients stick with the same advisor — or even the same firm — it’s crucial to emphasize confidentiality. “You need to keep reinforcing boundaries, reminding the clients that you’re not the go-between anymore — even for seemingly small details, like changing the mailing address for an investment statement,” says Romito.

And while an advisor may be eager to keep working with both spouses, in some situations it may be better to cede one of them gracefully. “If you harbor suspicions that one of the clients isn’t being forthright, it can be in your best interest to consider recommending that they find another advisor once the divorce is finalized,” Romito says. To avoid the appearance of taking sides, Romito recommends framing the conversation in terms of policy, not personality. “You can tell them you try to avoid working with both partners post-divorce,” she says.

Judith McGee, CFP and owner of McGee Wealth Management, an Independent Registered Investment Advisor, offers securities through Raymond James Financial Services, Inc. Member FINRA, SIPC. Any opinions are those of Judith McGee, CFP, and not necessarily those of RJFS or Raymond James.

McGee Wealth Management Named in Financial Times 400 Top Financial Advisor

by Ashley Baldwin

McGee Wealth Management makes the prestigious 2018 Edition of the Financial Times 300 Top Financial Advisers list. This list is compiled annually and features the top advisers at traditional broker-dealer firms in the U.S.

The formula that FT uses to grade advisors is based on six broad factors and calculates a score for each advisor. Areas considered include advisor assets under management, asset growth, years of experience, industry certification, Financial Industry Regulatory Authority compliance records and online accessibility. The Financial Times highlights the results by emphasizing how difficult and competitive the job of financial adviser has become. “A good adviser should have one eye on global trends and another on his or her client’s household,” FT explains.

Link to Financial Times’ Top Advisor Methodology

Judith McGee is one of only three financial advisers in Oregon to make this 300 Top Financial Adviser list. “As the investing world evolves, the needs of investor become more complicated. I have cultivated a culture that focuses on continuing education and advanced technology to stay current and better serve clients,” CEO/Chair Judith McGee explains.

The 300 Top Financial Adviser list comes with a report highlighting the population served by the top advisers. According to the report, more than a quarter of the FT 300 members serve retirees, and these leading financial advisers offer a diverse array of skills, opinions and backgrounds.