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June 5, 2004
Recipe for Sweeter Times
Advice, encouragement and baked goods help unemployed Minnesotans persevere
McDermott (right) shares laughs and cookies with SOAR volunteers (from left) Coulthart, Andreasen, Kathleen Flanagan, Fr. Schik and John Etten.
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FORGET THE SWEET smell of success. At SOAR for Jobs they can actually taste it. Cookies are proof that Sean McDermott, CFP®, a financial planner in St. Paul, Minn., and dozens of other volunteers are helping unemployed individuals in the Twin Cities. When people in the program find new jobs, they often return for a meeting, bearing a bag of Oreos or something similar, and give a "cookie speech."
"They share cookies, their success story and hope with the group," says McDermott. "It's an opportunity to celebrate."
SOAR -- or Saint Odilia Assistance and Resources -- has reached an estimated 1,000 unemployed Minnesotans through its weekly two-hour meetings. McDermott, a planner with LPL Financial Services who specializes in retirement planning, presents quarterly financial seminars and leads group discussions most Monday nights.
He covers financial dilemmas faced during job transition, from budgeting to evaluating severance to restructuring debt. "I talk about what happens with benefits, insurance and retirement plans from former employers," says McDermott. "I help them look forward, not backward."
"Sean provides valuable information in a nonthreatening way," says Suzanne Andreasen, a fellow volunteer who went to SOAR metings during her successful job search. "He has commitment, passion and compassion."
SOAR for Jobs was launched in January 2002 by Father Jerry Schik of St. Odilia Roman Catholic Church and parishioner Daryl Coulthart to provide a much-needed program in the community. McDermott quickly signed on to help. "These are people with chaos in their life," says Father Schik. "Sean gives them real clear guidance."
"I've become a resource who people can call," McDermott says. "I help them in situations that you wouldn't want to be in yourself."
And that's what makes the successes so sweet.
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Page disclaimer
This series profiles financial planners who take a fresh approach to help their clients or the community. To nominate a financial planner, click here.
Sean McDermott offers securities through Linsco/Private Ledger,Member NASD/SIPC. Neither ING nor its companies are affiliated with FPA, LPL Financial Services or the CFP Board of Standards, Inc. In addition, ING does not endorse the financial planners or the strategies featured in this article. This article is provided for informational purposes only and the views expressed many not be suitable in every situation. Consult your tax, legal and/or financial professional concerning your own situation. CFP® is a certification mark owned by the Certified Financial Planner Board of Standards, Inc. © 2004 TIME INC
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10 REASONS TO SEEK A
FINANCIAL PLANNER |
FINANCIAL PLANNERS provide a broad range of financial advice. Here are 10 situations for which you may want to seek the services of a financial planner:
• Managing finances: A planner can examine your net worth, identify objectives, and make specific recommendations.
• Marriage and children: Blending two lives and starting a family requires a unified financial strategy.
• Buying and selling a home: Making such an investment raises long-term financial issues.
• Funding for college: Besides investment options, taxes and financial aid need to be determined.
• Planning for retirement: What does it mean to you, and how can you achieve your goals?
• Facing a financial crisis: Unexpected events, from illness to legal problems, require immediate attention.
• Career advice: Over time, considerations include compensation, stock options and retirement.
• Running a business: Help is available for everything from compensating employees to a succession plan.
• Insurance: An agent sells products; a planner goes further by analyzing needs and goals.
• Estate planning: Trusts, wills and life insurance are among the areas where a planner can help.
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