Kevin McBride, CFP® Joins Price, Raffel & Browne

Kevin McBride joins PRB as a financial advisor. Mr. McBride has been in the financial services industry for 7 years.  He specializes in helping individuals and families grow and protect their assets, maximize their income and fully plan for the future. He was retained as Vice President by J.P. Morgan and by the Private Bank at Bank of America to design training programs for their advisors.  He has also been on the faculty at Franklin Pierce College.

A Look at June’s Metro Roundtable Event…

Price, Raffel & Browne brings businesses, leaders together as networking agenda grows

The Metro Roundtable opened on Thursday morning October 25th 2007 at the prestigious Friars' Club on Manhattan's east side.  More than 80 professional service company leaders got together for a networking breakfast which centered upon a presentation by Diane DiResta about How to Give a Knockout Presentation. The Price Raffel & Browne team was an integral part of the organization and sponsoring of this event, which exceeded expectations for all parties.

Price Raffel & Browne (PRB) maintains a year-round schedule of networking events which includes business transition seminars, joint seminars with its accounting and legal marketing "partners". PRB business outreach programs bring together several business sectors to pursue mutual interests and, more importantly, to forge lasting business relationships.
 
According to PRB's Managing Partner Ian Baker, the event was a great success. "This event far exceeded our expectations. We found that the individuals who joined us at the Friars' Club for this breakfast event were solid professionals seeking to enhance their contacts through peer relationships. We were very pleased to midwife this outcome and look forward to future events."

Call or e-mail us for our 2008 Metro Roundtable scheduled events.

800.401.5377
prbinfo@priceraffelbrowne.com

Event Pictures:

Making Strides Against Breast Cancer

Price Raffel and Browne took part in this year's Making Strides Against Breast Cancer walk.  

We are committed to giving back to the community and this is just one of the ways we have done so.  Making Strides Against Breast Cancer is more than just the name of a walk, it describes the amazing progress we're making in the fight against breast cancer, and it describes our commitment to defeat this disease together! Nothing can describe the hope that is inspired by walking with those who share a passion for defeating breast cancer.

Vacatello, Cameron Spark Brilliant Holiday Concert At Carnegie Hall, Saturday December 9th, 2006

Price, Raffel & Browne and The Italian Academy Foundation presented award winning pianist Mariangela Vacatello and award winning violinist Sandra Cameron, in a concert at Carnegie Hall, Saturday evening December 9th. The concert, made possible through a generous contribution by Price Raffel & Browne featured the two soloists in works of Schumann, Brahms and Chopin and was followed by a reception in their honor for 120 guests at Giovanni’s.

Actress Lorraine Bracco together with Italian Academy Foundation Chairman Stefano Acunto and Managing Partner of Price, Raffel & Browne Ian Baker, presented a Humanitarian Award to Mr. Steven Green, entrepreneur, philanthropist and Broadway Producer. A special award was also presented to Investigator Mark Yanitelli of the New York State Police Department, responsible for cracking a major multi-million dollar crime ring centered upon healthcare fraud in New York.

Mariangela Vacatello, winner of the top prize of the Concerti in Villa in Vicenza, Italy sponsored by the Italian Academy Foundation, performed Schumann’s Carnival as the main work of the evening. An Italian Academy Foundation Scholarship winner, Ms. Cameron, a student of music at Harvard University and the New England Conservatory, played on an original violin crafted by Gio. Paolo Maggini of Brescia, c. 1600 on extended loan through the Stradivari Society ®, performed works by Schubert and Brahms.

Concert Photographs

Paul Stawinski Joins Price, Raffel & Browne

Paul Stawinski, CLU has joined Price, Raffel & Browne as a Senior Associate, working from the company’s Park Avenue, Manhattan headquarters. “Mr. Stawinski brings to the firm profound experience in financial services, including award-winning performance in insurance leadership roles.

Mr. Stawinski was formerly a Managing Director for the MONY Group, where his agency was ranked No. 1 in the Nation in recruiting in 2003 and third in the nation in production. From 1996 to 2001 he served as Agency Manager for AIG Life, Inc where his Agency was ranked in the Top 3 nationally. In 1999, he was assigned to Europe to manage the Polish Life Insurance Co. for AIG. As a result of his leadership, sales and revenues grew 42%. In 2000, he was promoted to VP of Sales for the Sun America Division of AIG, to develop a National Sales force. Before joining AIG, he was a Financial Professional at Equitable (AXA) and was promoted to District Manager in 1985, as Asst. Agency Manager 1988 to 1996 and entered the Hall of Fame in 1989 earning the Order of Excalibur as one of the Top 10% of the sales force. Mr. Stawinski is a member of Court of the Table level of Million Dollar Round Table. As a manager, he won numerous National Builders Trophies for recruiting and development.

Mr. Stawinski is a graduate of Duquesne University and the University of Pittsburgh (1974) with honors in Psychology. He earned his CLU in 1988 and is currently working on the ChFC designation. At Harvard University, he studied Advanced financial planning from 2002-2004.

Dayna J. Yolish, J.D., LLM Joins Price, Raffel & Browne As Consulting Principal

Dayna Yolish has joined Price, Raffel & Browne to counsel small and mid-size business clients in non-qualified benefit planning and insurance related matters. Ms. Yolish will assist both individuals and companies in a wide range of programs for the analysis and successful implementation of financial plans and specialized programs.

Prior to joining Price, Raffel & Browne, Ms. Yolish was a consulting principal with a major benefits consulting firm, specializing in deferred compensation planning and funding as well as implementing bank-owned life insurance (BOLI) programs. She successfully guided her clients through comprehensive pre-purchase assessments that tested the eligibility and risks for every plan implemented, working with the leading insurance carriers in the business. Ms. Yolish effectively customized products and negotiated all terms to create a BOLI or corporate owned life insurance program to best suit a company’s performance objectives, while providing necessary regulatory compliance information and documentation. Before that she was general counsel for a Connecticut-based consulting company specializing in corporate-and bank-owned life insurance. Previously Ms. Yolish also practiced as a tax lawyer for a Fortune 100 company and an accountant for a major accounting firm.

Ms. Yolish graduated magna cum laude from the University of Connecticut with a bachelor’s degree in accounting. She continued her studies at the University of Connecticut’s School of Law where she received her J.D. degree. She also holds her LLM in taxation from New York University’s School of Law. Dayna is a member of the Connecticut Bar and is also a member of the Connecticut Bar Association and American Bar Association.

Price Raffel & Browne Announces Executive Appointment

Mitchell Wm. Ostrove

Financial services veteran Mitchell Wm. Ostrove has joined Price Raffel & Browne, Inc. (PRB), leaders in financial services, pensions and benefits. He will work from the firm's Westchester offices to serve PRB's national clientele.

Mr. Ostrove, who has served as Chairman of Ostrove Group, joins Price Raffel, Browne as a Partner. A Cornell University graduate, Mitch obtained his Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC) designations and has been a life and qualifying member of the Million Dollar Round Table (39 years). Mr. Ostrove served on the Advisory Board of the Top of The Table, chaired its Estate Planning sessions and its number one rated Main Platform for the 2001 annual meeting. He served as the 2002- 2003 President of the Million Dollar Round Table Foundation. He was the Founder and first President of the Westchester County Chapter of CLU & ChFC, the Westchester Life Underwriters' Association, Estate Planning Council of Westchester and the Life Underwriters Political Action Committee for New York State.

An active volunteer in Greater New York, Mr. Ostrove has served as Chairman of The Men's Division of Albert Einstein College of Medicine, Trustee of Temple Israel of New Rochelle, Commissioner of the New Rochelle Youth Bureau, and vice-chair of the Westchester UJA/Federation Campaign. He has received The Fred E. Hamilton Award, The Lester A. Rosen Humanitarian and Achievement Award, The Spencer L. McCarty Award, UJA/Federation Insurance Man of the Year, Temple Israel UJA Honoree and the top Quality of Life award by the Million Dollar Round Table Foundation.

We welcome Mitch Ostrove to our team.

Pension Changes Sought

The Internal Revenue Service is mulling rule changes allowing part-time employees to collect partial pension payments. Individuals must be at least 59 year old, under the proposal. The proposal for the change in Section 401(a) of the IRS code came about because of employees who want to continue working and employers who want to keep them working.

"As people are living longer, healthier lives, there is a greater risk that individuals may outlive their retirement savings," according to the rules change proposal posted on the IRS Web site. "In addition, employers have expressed interest in encouraging older, more experienced workers to stay in the work force."

The proposal would allow "phased retirement" for employees 59 and older, although the exact retirement age would be dictated by the terms of an individual's pension plan. Under the proposal, employees could collect partial pensions if they continue to work part-time. An employee working at 80 percent of his former work hours would be considered 20 percent retired and entitled to collect 20 percent of his pension payments. The payments would be deducted from the total payments due to their employee under the pension plan, although the time would also count as years of service for pension benefits. Employees would have the possibility of remaining on the company's medical plan during that time.

We welcome inquiries.

IRS Issues Guidelines for Non-Qualified Deferred Compensation

The Notice addresses:

1. the scope of Section 409A;
2. effective dates and transition;
3. change in control events;
4. exceptions to the prohibition against acceleration of benefits; and
5. reporting requirements for deferred amounts. Section 409A of the Internal Revenue Code applies to non-qualified deferred compensation plans.

A "plan" includes any agreement, method or arrangement, even if the plan is for one individual providing for the "deferral of compensation": if the service provider has a legally binding right during a table year to compensation that has not been actually or constructively received and included in gross income, and that, pursuant to the terms of the plan, is payable to the service provider in a later year. A right to compensation is not legally binding if the service recipient has the discretion to reduce or eliminate the amount of compensation unilaterally after the services have been performed.

Section 409A is not limited to arrangements between employer and employee, and could extend to arrangements involving, for example, partners of a partnerships and independent contractors.

If you are affected — or would like to know if you are affected — call PRB today to discuss.

Personal Viewpoint: Kevin Brown

 
Financial decision making is a process of shopping, comparing, conferring, weighing, confer