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Welcome to C2PCentral.com—an exclusive communications resource from Clarity 2 Prosperity and Prosperity Capital Advisors. As a member of our Mastermind Group, this tool has been created to put all of our communications in one convenient location, right at your fingertips. Be sure to check back regularly and bookmark this page as your go-to spot to access our news, updates and latest resources available to you!

Allianz Updates

Published January 4th, 2017 in News, Updates and Announcements | No Comments »

Happy New Year! We wanted to share a number of updates from Allianz this week.

To view Rate Watch for January rates and business rules, click here.

To view the January letter of instruction, click here.

As you may recall, we launched new fixed index annuity (FIA) applications on October 17, 2016. While we are currently still accepting the March 2016 revision of the application, beginning January 16, 2017, the new application (with revision date 10/2016) will be required prior to issue. Please be sure you are using the new application and that you recycle any old versions you may have.

2017 tiers
Allianz will offer the Allianz Preferred and standard producer production bonuses to eligible producers using the following tiers:

Production Preferred bonus percentage Standard bonus percentage
$1,500,000 – $3,999,999 0.50% 0.25%
$4,000,000 – $5,999,999 1.00% 0.50%
$6,000,000 – $11,999,999 1.50% 0.75%
$12,000,000 and above 2.00% 1.00%


2017 tier lock
We also evaluate the opportunity to continue to reward you for your loyalty by allowing your 2016 production to positively affect your “starting point” for 2017 tiered compensation. For 2017, producers who earned at least a 1% bonus rate in 2016 will again not have to start from scratch for our agent tiered compensation program. As we did this past year, we will use your 2016 bonus rate and subtract one tier to determine your 2017 starting tier. For example, if your Allianz Preferred 2016 production level was $3 million and you achieved a 1.00% bonus rate, your starting bonus rate for 2017 will be 0.50%. And then, every time you achieve a higher production threshold according to the 2017 tiers, we will apply the new bonus rate retroactively to eligible production issued since January 1, 2017.

Impact of the DOL fiduciary rule
As we have discussed with many of you individually when you have asked us about the future of this program, we believe and have also heard directly from many entities who would be operating as financial institutions under the new DOL fiduciary rule that participation in our Agent Tiered Compensation Plan would not be approved by them after the applicability date (April 10, 2017) of the DOL rule. As a result, at this time, we can only plan to offer tiered compensation to eligible producers until March 31, 2017 as noted below.

In addition to the qualifications outlined in the Preferred compensation guidelines, Allianz will pay the production bonuses to eligible producers for all applications that meet the following criteria:
·        Applications must be signed by March 31, 2017
·        Applications must be submitted by April 7, 2017
·        Applications must be issued by June 30, 2017
Bonus payments will generate automatically through March 31, 2017. For all other applications meeting the above criteria issued between April 1 and June 30, Allianz will make a one-time lump-sum payment in July 2017.

Retroactive proration of tiers due to discontinuation of the program as of March 31, 2017As a result of the decision to limit bonus to the first quarter, we understand that it may be difficult to meet the 2017 Preferred and standard bonus tiers. Therefore, Allianz will prorate the bonus tiers in March 2017. The following prorated tiers will be applied to eligible business retroactive to business issued on or after January 1, 2017.

Production Preferred bonus percentage Standard bonus percentage
$375,000-$999,999 0.50% 0.25%
$1,000,000-$1,499,999 1.00% 0.50%
$1,500,000-$2,999,999 1.50% 0.75%
$3,000,000 and above 2.00% 1.00%

 

What happens if the DOL rule is repealed or the applicability date of the rule is deferrred?
Many of you have asked us this question, and we are actively evaluating potential options that we could pursue if the rule is either repealed or the applicability date is delayed past the current date of April 10, 2017. Due to the wide range of uncertainty around potential scenarios involving the DOL rule, we are not in a position at this time to conclude as to how any such future change could affect the continuation of this program after March 31, 2017. Please be assured that we will continue to monitor developments in Washington, and we will keep you posted as the first quarter of 2017 progresses. Please also note that if the program is continued beyond March 31, 2017, the retroactive proration of the tiers described above will not occur.

 

 

Holiday Schedule

Published December 21st, 2016 in News, Updates and Announcements | No Comments »

In observance of the holiday season and New Year’s Day, please note the upcoming C2P/PCA office and TD Ameritrade schedule:

C2P/PCA Offices
Friday, December 23: Closed
*Trade requests will be monitored by PCA on Friday*
Monday, December 26: Closed
Monday, January 2: Closed

TD Ameritrade
Friday, December 23
• US Equity Market / Listed Bond Market: Standard Hours of Operation
• Mutual Funds: Normal cutoff times with the exception of the attached funds that have an earlier cutoff time
• OTC Bond Market: Close at 2:00 PM ET
• Fixed Income Trade Desk: Early Close at 4:00 PM ET
• TD Ameritrade Institutional: Standard Hours of Operation

Monday, December 26
• US Equity Market / Bond Market: Closed
• TD Ameritrade Institutional: Closed
• Note: Please be advised the bond market will have an early close on Friday, December 23, 2016, in observance of Christmas Day Holiday. If you have any questions, please contact the Institutional Trade Desk at 800-431-3500, Option 1.

 

2017 Charitable Contributions

Published December 19th, 2016 in News, Updates and Announcements | No Comments »

With the 2017 tax season quickly approaching, it’s time to put our collective charitable plan in place!

As you may know, Mastermind members voted on the Salvation Army to be the charity we will support during the 2017 tax season. The Salvation Army is serving more people in the United States than ever before. They are already seeing large increases in the number of Americans seeking the basic necessities of life – food, shelter, and warmth. Approximately 30 million people received help from The Salvation Army last year.

To learn more on how to contribute, click here

Those offices planning to participate should contact Karin DiSanto (kdisanto@c2pmastermind.com), so we can keep track of everyone’s progress. While each office will be making their individual donations, we want to keep track of what we donate collectively as a team.

It has been suggested an easy way to collect is to simply ask your clients to round up their tax preparation fee by $1 or $5. You can also work with your local Salvation Army branch to place a red kettle in your office. Feel free to come up with other ideas and share them with Karin as well.

We look forward to making a difference in people’s lives through this charitable endeavor and appreciate your participation!

 

TD Service Issues

Published December 16th, 2016 in News, Updates and Announcements | No Comments »

Please be advised that TD Ameritrade is experiencing heavy processing volume due to year end. This includes new account opening and distribution requests. We’ve been told by TD that Move Money forms and distribution requests are taking up to 48 hours to process. PCA is trying to expedite what we can. Please be mindful of this when submitting paperwork to PCA for processing.

If you have a request that needs to be completed by year end, we are requesting that it is submitted to us by Tuesday, 12/27, or Wednesday 12/28 at the latest. For items submitted on Wednesday, 12/28, we may not be able to guarantee it gets completed by year end, but will try to expedite it with TD Ameritrade. Please note, PCA will be closed on Monday, 12/26, in observance of the Christmas holiday.

 

DFA Dividend Posting

Published December 16th, 2016 in News, Updates and Announcements | No Comments »

This is an alert to all advisors with accounts invested in PCA DFA models. There was an error in the dividend postings for DFA funds on 12/14/16 and 12/15/16 due to DFA providing incorrect prices to TD Ameritrade. This resulted in incorrect dividend postings, and purchases for those accounts set for dividend reinvesting, which required TD to reverse all transactions and repost correctly. For each dividend posting and reinvestment, there could be 3 transactions shown on the client account, 1. the original transaction 2. the reversal of the original transaction and 3. the correct posting. All transactions should be corrected by 12/16/16. We confirmed with TD Ameritrade that all transactions will show on the client statements.

We are sending this alert in case you receive any calls from clients once they receive their December statements and inquire about the transaction activity.

For advisors that submitted trade requests on 12/14/16, or had newly funded accounts invested, those accounts may show duplicated buys and/or sells, however, have been corrected and posted properly.

We apologize for this error that was out of our control, but want to be proactive in notifying you in case you receive inquiries from clients.

Thank you for your continued business and we wish you all a Happy Holiday!

 

Webinar: The Evolution of Investing

Published December 2nd, 2016 in News, Updates and Announcements | No Comments »

We are excited to host a webinar entitled “The Evolution of Investing” on Thursday, December 15 from 3-4pm Eastern.

Click here to access the live webinar!

The presentation will discuss how investing has evolved over time and highlight why we choose to implement an evidenced based approach today in our portfolios. Over the years, academic research has challenged many conventional assumptions about investing. Through the use of stories and analogies, this presentation explains the differences between traditional, predictive investment approaches and an alternate method based on market pricing, asset class behavior, and other evidence-based principles.

Joining us on the webinar will be Daniel Essman and Christian Newton, Regional Directors at Dimensional Fund Advisors. Their bios can be found here.

In addition, to give you a preview of the key themes of the presentation, please watch the 5+ minute video below ahead of the webinar.

Click to Play

 

Year-End Tax-Related Deadlines

Published December 2nd, 2016 in News, Updates and Announcements | No Comments »

Please note the information provided below by TD Ameritrade Institutional:

We want to make you aware of several approaching year-end activities with potential tax implications for 2016, and the dates by which action must be taken in order for TD Ameritrade Institutional to meet the December 30 deadline. (December 31 falls on a Saturday this year.)

  • Deadline for Required Minimum Distributions (RMDs): Clients who are 70½ or older must take an RMD from their IRA and/or their QRP for the 2016 tax year. All RMDs must be withdrawn by December 30, 2016, with the exception of RMDs for clients who turned or will turn 70½ during this calendar year; these clients may defer their first distribution until April 1, 2017.

    If your clients have already taken the required distribution for 2016, no other action is required. If not, TD Ameritrade Institutional must receive a completed distribution form no later than December 22, 2016. This is necessary to ensure that the December 30 deadline is met and the RMD is reported in tax year 2016. Distribution forms received after December 22 will be processed on a best-efforts basis. Additional information and instructions for taking an IRA or QRP distribution can be accessed on Veo.You can also establish a systematic payment to ensure the annual RMD is satisfied every year. To do so, complete the Systematic Required Minimum Distribution Form.

  • Deadline for Roth IRA Conversions: Clients must submit a Roth Conversion Form in good order by December 22, 2016. Forms received after that date will be processed on a best-efforts basis.
  • Deadline for Establishing a 2016 QRP: Qualified Retirement Plans for 2016 must be established by December 30, 2016.
  • Deadline for Removal of Non-Marketable Securities: To have non-marketable securities removed from your clients’ accounts by the end of the calendar year, please submit your request by 4 p.m. ET on December 22, 2016. Requests submitted after that time will be processed on a best-efforts basis. Submit your requests by calling the Institutional Trade Desk at 800-400-6288, option 1.
  • Charitable Gift Deadlines:*
    • December 19, 2016: Gift requests of mutual funds**
    • December 22, 2016: Gift requests between accounts custodied at TD Ameritrade
    • December 22, 2016: Gift requests of cash delivered via check and/or federal funds wire

* Important Information on Charity Gifting:
Please have your client notify the charity that these assets are on their way, and also indicate, in the request to us, whether we are permitted to share donor information with the receiver.

** Mutual Fund Charitable Donation Requirements:
Due to the nature of processing charitable mutual fund deliveries, your clients will need to provide the following information with each request, to help us process their transaction in a timely manner:

  • Mutual fund symbol or CUSIP
  • Number of shares your client would like to donate
  • Mutual fund account number at the receiving firm
  • Client account number at the receiving firm

Direct Registration of Securities (DRS) Requests
December 19, 2016: Requests to Transfer Agents to send or receive DRS-eligible assets

1099 Cost Basis Preferences:
If you have previously made an election to display non-covered cost-basis information on your clients’ 1099-B forms, those same elections will be applied this year. If you would like to review or change your current elections, please log in to Veo prior to January 6, 2017, and go to Preferences > User Preferences > Cost Basis.

In previous years, if you requested a change to your previously established covered/non-covered preference for the 1099-B cost-basis display, you were required to also request a reprint through Veo. Going forward, this will not be necessary, as we will automatically send a reprint to your impacted clients when a change is requested.

 

December Study Groups

Published November 30th, 2016 in News, Updates and Announcements | No Comments »

Please note the following changes to the study groups in December:

  • The Abundant Appointments and The Bucket Plan® & Holistic Planning Process will not take place this month.
  • The Tax Practice Builder has been moved from Tuesday, December 27 to Monday, December 19 at 3pm ET.