Western New York Dentists' Personal Finance Symposium

September 13, 2012

By: John C. Godsoe

Hosted by the Eighth District Dental Society
Sponsored by Altfest Personal Wealth Management* and Bond, Schoeneck & King, PLLC
*Endorsed by the Eighth District and NYSDA Support Services, Inc.

Who Should Attend

- Practicing and retired dentists
- Spouses of dentists
- CFOs and office managers of larger practices


8 a.m.
Registration and Continental Breakfast

8:30 - 8:40 a.m.
Welcome Remarks
Eighth District President, Dr. Brendan P. Dowd

8:40 - 9:40 a.m.
Investment Planning and the Presidential Election
Lewis J. Altfest, Ph.D., CFA, CPA/PFS, CFP®

- Election year investment opportunities and traps
- 5-step process for creating sound investment portfolios for dentists
- Outlook for real estate
- Annuity pros and cons
- Yield opportunities in a low interest rate environment
- Total portfolio management for the right investment fit

9:40 - 9:50 a.m.

9:50 - 10:50 a.m.
Current Developments In Employee Benefits Law Affecting Dental Practices
John C. Godsoe, Esq.

Employee benefits play an important role in the compensation structure of any dental practice. A well designed and administered employee benefit program can increase your financial security, as well as attract and retain valuable employees. In this session, we discuss some of the more important current developments in employee benefits law, including how to maximize tax savings in connection with your employee benefit programs, how service provider fees can affect the bottom line of your retirement plan accounts (and what actions you may need to take as a plan fiduciary to address excessive fees), and the impact on your practice of the recent United States Supreme Court decision upholding the constitutionality of the Patient Protection and Affordable Care Act (Health Care Reform Law).

10:50 - 11 a.m.

11 a.m. - Noon
Planning for Your Retirement
Paul Palazzo, CFP®, COA

For many dentists, having enough money to retire is the primary financial concern that they face, particularly in this challenging environment. This session will provide the planning steps that can help you get the most out of what you have. It will address retirement planning from both a qualitative (what do you want?) and quantitative (how do you get it?) perspective. Some key topics:

- The biggest risks in retirement, and potential ways to alleviate them
- The power of tax deferral, and effective ways to achieve it
- Taking probabilities into account
- Getting beyond the conventional wisdom

The discussion will include relevant case studies and provide answers to your questions.

Noon - 12:10 p.m.
Going Forward
Practical steps for successfully executing your investment, employee benefits and retirement planning.

12:10 - 12:15 p.m.
Closing Remarks

Speaker Biographies

Lewis J. Altfest, Ph.D., CFA, CPA/PFS, CFP® is CEO and Chief Investment Officer of Altfest Personal Wealth ManagementSM and is recognized as one of the nation's "Best Financial Advisers" by Barron's, Money, Medical Economics, Dental Practice Report and other financial publications. Prior to founding Altfest in 1983, he was a General Partner and Director of Research for Lord Abbett & Co., which manages over $100 billion in assets. In recognition of his "sustained vision, outstanding leadership and client commitment," he was given the Charles R. Schwab IMPACT Award® -- one of the profession's highest honors.

Lew is an Associate Professor of Finance at Pace University's Lubin School. His textbook, Personal Financial Planning, published by McGraw Hill, is currently used at leading universities around the country. His book, Lew Altfest Answers Almost All Your Questions About Money, which he co-authored with his wife Karen, was named one of the best financial planning books by Money magazine. He has written many scholarly articles on financial planning and investments. His non-academic audiences include investors, dentists, doctors and other financial professionals. Lew frequently appears in both print and broadcast financial media, and writes a monthly investment column for Medical Economics.

Lew is a founder of the National Association of Personal Financial Advisors, and is a member of the New York Society of Security Analysts, the American Institute of Certified Public Accountants, the Financial Planning Association and several other professional societies.

Lew received his Ph.D. in finance from the Graduate Center of the City University of New York. He has an M.B.A from New York University and a B.B.A from Baruch College.

John C. Godsoe, Esq. is an employee benefits attorney who represents a wide range of employers in all aspects of employee benefits law, including medical and dental practice groups, non-profit organizations, and higher education institutions. John focuses on compliance with the Employee Retirement Income Security Act ("ERISA") and Internal Revenue Code, and he regularly works on matters involving retirement and welfare plans. John's experience includes the design, implementation and termination of qualified retirement plans (including traditional 401(k) plans, "safe harbor" 401(k) plans, profit sharing plans and defined benefit plans), tax-sheltered annuity plans, and non-qualified retirement plans. He represents employers in matters involving the IRS, U.S. Department of Labor, and Pension Benefit Guaranty Corporation.

John also regularly works with welfare benefit plans, including health plans (insured and self-insured), cafeteria plans, disability plans, life insurance plans, and severance plans. He frequently advises employers regarding the implementation and administration of health savings accounts, health reimbursement arrangements, and health flexible spending accounts and regularly assists employers regarding health plan administration issues, including COBRA and HIPAA. Recently, John has assisted employers with compliance issues and strategic planning related to the health care reform provisions of the Patient Protection and Affordable Care Act.

He is a graduate of Wake Forest University and the State University of New York at Buffalo, School of Law.

Paul Palazzo, CFP®, COA, joined Altfest Personal Wealth ManagementSM in 2000 and was named a Managing Director in 2007. He is co-director of the firm's dentist practice group. In addition to heading a team of advisors who help clients with all of their financial planning and investment needs, he also heads the firm's financial planning operations and sits on the Leadership and Investment Committees.

Paul specializes in quantitative financial planning analysis and employee stock options, having become a Certified Option Advisor in 2005. He was acknowledged for his major contribution to the case study in Lew Altfest's collegiate textbook, Personal Financial Planning, and has written on a variety of financial planning and investment topics for major publications such as The Journal of Financial Planning and The Seattle Times. He has also been interviewed for the Wall Street Journal, ABC News and other media.

Paul is an active member of the National Association of Personal Financial Advisors. He sits on the Board of Directors of the Financial Planning Association of New York.