Take a look at our newsletter this month.
JULY 2021
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SUMMER AT THE ‘HOWESTEAD’ FAI Finance Professional Thomas Howe’s Favorite Ways to Unwind
The Fourth of July is one of my favorite holidays because it means spending a week at the “Howestead” — my family’s tongue-in-cheek name for our home on the shore of Big Lake in Gaylord. When I’m here
This year, our Fourth of July vacation is going to be even more exciting, because it’s my oldest son Tim Jr.’s one-year wedding anniversary. He and his wife, Jacqueline, got married at the Howestead last summer, and it was beautiful despite all of the pandemic
in Farmington Hills, I’m usually hard at work at Financial Architects helping our clients organize their finances with our signature financial model or mentoring younger advisors and showing them the ropes. But much as I enjoy it, my work is still work! The Howestead is where I do my best relaxing. Every day of our family vacation, I wake up early and swim across Big Lake and back while my wife, Marybeth, and our three dogs sleep in. Later on, our four kids, their partners, and their three dogs join the fun. (Yes, the Howestead is a bit of a dog haven!) We spend the week waterskiing, golfing, and skimming the water on jet skis and pontoon boats. Sometimes when the sun goes down, we even fry perch and french fries out back, then clean our plates with our fingers while the food is hot. It’s a nice break from the everyday grind.
fuss with the guest list. They had a ceremony at our neighbor’s house because she has thousands of beautiful flowers, then walked next door to our place. We pitched a tent, served dinner, and treated the guests to a bourbon bar. It was exquisite. It’s always nice to leave the real world behind and head north, but it’s equally nice to return to the office. I love the process of taking a client’s messy finances and distilling them into 30 cohesive one-year plans that will guide them to a successful future. These days, mentoring is a big part of my work, too. My No. 1 job is finding new clients — either from the office or the golf course — introducing them to our model, and helping the younger guys lay out the benefits and repercussions of their financial decisions. It’s fulfilling work.
My favorite event of the summer by far is the Big Lake Open, a golf tournament I’ve been running in Gaylord for about 15 years. It’s very competitive, and all of the families in the area show up and compete against each other. We mix up the teams every year so that nobody gets a ringer, and in the last 20-odd years, I’ve only won it twice. My dad and my brothers often show up for the tournament, too. Once, when my dad was 78, he and one of my brothers joined forces with me and Marybeth. She hardly plays golf, but somehow we “ham and egged” it and managed to win the thing!
The closer I get to retirement and a permanent stay at the Howestead, the more fortunate I feel to have found Financial Architects. I’ve been here 10 years now. It’s a phenomenal organization that allows me to have a great work-life balance after 20 years in the automotive industry and another 20 in the insurance business. As cheesy as it sounds, I’m looking forward to spending the rest of my career helping people achieve the kind of financial freedom FAI has allowed me.
Wishing you a prosperous and relaxing summer,
888-466-5453 – Thomas Howe
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Even if you’re not familiar with cryptocurrency, you’ll notice one thing about its market trends — it has been trending higher and higher in the past decade. Then suddenly, in mid-April this year, Bitcoin and other cryptocurrencies plunged significantly in value. That’s because the U.S. government has started the conversation it’s been putting off for some time: Should cryptocurrencies be regulated and, if so, how? Here are some reasons the discussion needs to move forward. CRIMINAL USAGE OF CRYPTOCURRENCIES Is cryptocurrency still popular with criminals? A blockchain data firm Chainalysis reports that illicit activity made up 0.34% of all cryptocurrency transaction volume. That’s roughly 2% lower than in 2019. While the percentage has dropped for overall activity, Kim Grauer, head of research at Chainalysis, told NBC, “Still, ransomware was by far the biggest category in terms of activity growth (311% year over year), and we’re seeing an all-time high for dark-net market activity.” Ransomware is malicious software that hackers use to infect a computer, then demand a fee to unlock it. The bounty is typically paid in Bitcoin or other cryptocurrencies, which are difficult to trace. REGULATORY UNCERTAINTY IN THE U.S. Although criminal usage of cryptocurrency is rather miniscule today, how do you resolve issues with ransomware? One rule proposed by the U.S. government would require anyone holding crypto in a private digital wallet to undergo identity checks if they make a transaction of $3,000 or more. Many believe, however, that this isn’t a long-term solution. Jesse Powell, the CEO of Kraken, the world’s fourth-largest digital currency exchange, told CNBC that the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses, like banks, that “stand to lose from crypto becoming a big deal.” Technically, the Securities and Exchange Commission (SEC) regulates most crypto, but even Hester Pierce, a commissioner of the SEC, says, “We’ve seen other countries take a more productive approach to regulating crypto. Our approach has been to say no and tell people [to] wait … we need to build a framework that is appropriate for this industry.” In some ways, crypto is profitable like the stock market is, except you can also use it to purchase goods and services. While this regulatory framework isn’t clear just yet, the longer it takes to establish, the more the American public, like you, might lose out on these multibillion-dollar markets. WHAT WILL HAPPEN TO CRYPTOCURRENCY IN THE U.S.?
INSIDE FINANCIAL ARCHITECTS
How do we get better each and every day? That is a question that shareholders Chris Cousins and Pat Marody ask themselves a lot as they lead this company into the future. 2020 was a huge challenge, and it would have been very easy to sit back and stay the course and survive rather than advance. Chris and Pat
elected for the latter. We told you in the May edition of this newsletter about The Q5 Experience, a newly formed collaboration that involves FAI, Empowering Futures, LLC (The LifeMethod), and Absolute Succession that works with business owners to build transferable value before they sell. In layman’s terms, Q5 is a proven process that sets companies up for transition. In addition in 2020, the Leadership Team at FAI was introduced to a concept called EOS. This stands for Entrepreneurial Operating System. This was an introduction that turned out to be a game-changer. Pat, Chris, Kristi Laporte, Kim Keith, Melissa Scheib, and Matt Dery were all introduced to EOS Strategic Coach Chris Meso. Chris helps leadership teams like the one at FAI clarify and simplify their day-to-day operations and achieve their vision as a company. Furthermore, it is a system that sets up the organization for success by teaching them about accountability, ability to delegate and elevate, predict, systemize, and structure. After hearing Meso explain what EOS entailed and how its system would work for the leadership group at FAI, it was a no-brainer to sign up with Chris and learn more. And this was a decision that has worked out extremely well for FAI. The Leadership Team meets every Tuesday for an hour and a half and goes through a meeting called an L-10 or Level 10, where they discuss headlines for the week, a to-do list, and company “rocks.” Then they solve issues that are important for the entire company and our clients. As Meso states, “The meeting pulse every week is to make sure that everyone is on the same page and that issues are identified, discussed, and solved by all. No one in the meeting is left out.” EOS and the L-10 meetings have been so effective and refreshing so far that the entire Support Team at FAI now meets every Wednesday, too, using the same format. This has really been a terrific eye-opener for the firm and has helped us highlight again what we are all about. Our core focus has been established as “Helping people live a life of freedom by simplifying the complexity of money decisions.” Thanks to EOS, this core focus and our core values remain at the forefront of everything that we do.
The information contained in this newsletter is derived from sources believed to be accurate. You should discuss any legal, tax, or financial matters with the appropriate professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Registered Representatives offer Securities through The O.N. Equity Sales Company, Member FINRA/SIPC (www.FINRA.org/ and www.SIPC.org). Investment Advisory Services offered through O.N. Investment Management Company and FAI Advisors, Inc., Financial Architects, Inc., FAI Advisors, Inc., and The LifeMethod are not subsidiaries or affiliates of The O.N. Equity Sales Company or O.N. Investment Management Company. We have representatives currently registered in the following states: AL, AZ, CA, CO, DC, FL, GA, IL, IN, MA, MD, ME, MI, MN, MO, NC, NH, NV, NY, OH, OR, PA, SC, TX, VA, WA, and WI.
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Take a Break
Chat With a Client Vince and Theresa LaVoie
HOW DID YOU FIRST GET INVOLVED WITH FINANCIAL ARCHITECTS?
We had a young family and were looking to develop a more comprehensive plan for our financial future. In 2001, a discussion with one of my colleagues revealed that he knew a financial advisor who he was very pleased with, and he suggested that we consider working with the advisor and his firm to help achieve our goals. That advisor just so happened to be Ken Grace, and the firm was a then much smaller Financial Architects. We subsequently met with Ken, and that began our relationship with him and the company that has now lasted 20 years — and will hopefully continue for many more.
Solution on Page 4
WHAT HAS MADE YOUR BUSINESS/PROFESSION WORTHWHILE TO YOU?
MEXICAN CORN SALAD
Being an engineer in the auto industry has been very rewarding to me professionally from the standpoint of being able to directly impact the way customers experience the performance of the vehicles they drive. I’ve been privileged to work with many smart, hardworking people who taught me a lot about engineering and life in general. It’s also been amazing to look back over my 35 years in the industry to see where the technology came from and where it’s headed and to know that I’ve been a part of that journey. From a personal standpoint, my work has given me the ability to ensure that my family has all the resources that they need to help achieve their goals, just like our parents did for us — but I know there’s still a long way to go to be in their same league!
Don’t let the long ingredient list scare you. This summer salad celebrates in-season veggies and herbs and comes together quickly.
INGREDIENTS • 4 cups of fresh corn, cut from 5 cobs • 1 tbsp olive oil • 1/2 red bell pepper, chopped • 1/2 red onion, diced • 6 green onions, chopped • 1 jalapeno, diced • 1/2 avocado, cubed • 1/4 cup fresh- squeezed lime juice
• 1/2 tsp ground cumin • 1/2 tsp smoked paprika • Salt and pepper, to taste • 2 tbsp sour cream • 2 tbsp mayonnaise • 1/2 cup fresh cilantro, chopped • 1/2 cup cotija or feta cheese, crumbled
DO YOU HAVE ANY SPECIAL PLANS FOR THE SUMMER?
Do as much as possible to try and get back to a pre-pandemic normal! Even after being locked down, the list of house projects is still a long one, and I’m hoping to get as many of them done as possible. In continuing a family tradition of spending time up north, we are planning a getaway to our favorite destination, Crystal Mountain. Spending downtime with my wife, Theresa, and our sons, Brendan and Justin, is always a priority, and time that is cherished. I’m still rebuilding my golf swing after shoulder surgery last year, so I’m hoping the weather will cooperate and maximize my rain-free rounds. We are certainly looking forward to getting back together in person as much as possible with family and friends, and to put the past year in our rear-view mirror.
DIRECTIONS
1. In a cast-iron skillet over medium-high heat, add oil and corn. Cook, stirring occasionally, for 3–5 minutes or until corn starts to char. 2. Add the corn to a large bowl and let cool for 5 minutes, then add the remaining ingredients and stir together until well combined. Taste and adjust seasoning.
Nick, thank you again for “nominating” us for this adventure. It’s been fun!
If there’s anything else you need, or if we need to revise anything, please don’t hesitate to let us know.
3. The salad pairs well with grilled entrees and can be refrigerated in an airtight container for up to 4 days.
Best regards, Vince and Theresa LaVoie
Inspired by FeastingAtHome.com
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Inside This Issue 1 | FAI’s Thomas Howe’s Favorite Ways to Unwind
2 | What’s the Deal With
Cryptocurrency Regulation?
2 | Inside Financial Architects
3 | Chat With a Client
3 | Mexican Corn Salad
4 | 5 Wacky Pizza Trends From Around the World
Here in the U.S., pineapple is considered a wild and controversial pizza topping. Even celebrities take a stand. Justin Bieber is pro-pineapple, but Jimmy Kimmel is against it. According to a 2019 YouGov Omnibus study, only anchovies and eggplant are more hated. But in other parts of the world, the tangy yellow fruit is far from the strangest topping you’ll see! Here are five wacky pizza trends from around the globe that will either make you hungry or inspire you to sprint the other way. You may want to order a comforting cheese pie from your favorite local pizzeria before reading this, just in case. • BANANA-CURRY PIZZA (SWEDEN) — The Swedes first accessed bananas in 1944, and since then, they’ve put them on everything , including pizza, which they top with tomato sauce, smoked cheese, banana slices, and curry powder. • KETCHUP AND CORN PIZZA (BRAZIL) — According to several sources, Brazilians swap pizza sauce for ketchup or tomato slices and top their pies with strange combinations of local ingredients like corn, beets, hearts of palm, and potato sticks. • HAGGIS PIZZA (SCOTLAND) — Pizza may be the only semi- enjoyable way to eat haggis: a mix of sheep or calf offal, oatmeal, They Eat What on Pizza?! 5 Wacky Pizza Trends From Around the World
suet, and seasonings that are boiled in an animal’s stomach. Last year, Papa John’s got in on the action when it released a limited- edition haggis pizza in honor of a Scottish poet, Robert Burns. • MOCKBA PIZZA (RUSSIA) — This local pie comes topped with four kinds of fish (sardines, tuna, mackerel, and salmon), onions, herbs, and occasionally fish eggs. Most troubling of all, it’s served cold! • CHICKPEA PANCAKE PIZZA (ARGENTINA) — In Buenos Aires, locals top their super-cheesy pizza slices with fainá — chickpea pancakes cooked separately from the pies and balanced on top of each slice. Keep these pizzas in mind when planning your next international vacation! They might be tastier than they sound, and if not, they’ll still make great Instagram fodder. As actor Cole Sprouse once tweeted, “You’re losing followers because you’re not relatable enough. Try mentioning that you eat pizza. If that doesn’t work, play the ukulele.”
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