The CFA West
Michigan Society
State of the CFA West Michigan Society
June 15, 2011
Introductions and Strategy Overview
Introductions and Strategy Overview│ 2
Strategy Overview
In 2009, the Strategic Planning Committee identified three
primary strategic objectives:
■ Emphasize outreach to our members and candidates
■ Explore ways to add value to our Charter
■ Promote the Charter and our membership in the local financial community
Initiatives to meet those objectives:
■ Increase the number of luncheons and provide member networking opportunities
through social events
■ Partner with other members of the financial community to sponsor events
■ Sponsor a local competition of the Global Investment Research Challenge
■ Expand the Society’s university outreach beyond GVSU and WMU
■ Use our existing media network more proactively
Strategy Overview│ 3
Presentations
■ Financial Update: Where did the money come from and where did it go?
■ Membership: How many members did we have, do we have and will we have?
■ Public Awareness: Who needs to know what and how are we telling them?
■ Programming: What did we do, when did we do it, and where did we do it?
■ Technology: What’s a WebEx and how do I get one?
■ Education: How many scholarships did we hand out? Who in their right mind would
take a mock exam?
■ Strategic Initiatives: What’s a GIRC?
Level 2 funding: What is it and what are we doing with it?
Advocacy: What’s CFAI up to and how does it affect us?
■ Proxy: Who’s in, who’s out?
■ Investment Forecasting Awards: Who won?
Presentations│ 4
Financial Update: Ryan Allen, CFA
Financial Update│ 5
Revenue History
CFA West Michigan Society
$14,000
$12,000
Guest Fees
$10,000
$8,000
Guest Fees
Guest Fees
$6,000
Member Dues
$4,000
Member Dues
Member Dues
Fiscal 2009
Fiscal 2010
$2,000
$-
Financial Update│ 6
Fiscal 2011 YTD
Net Income (Loss)
CFA West Michigan Society
$3,000
$2,410
$2,500
$2,000
$1,446
$1,500
$1,000
$500
$$(240)
$(500)
Fiscal 2009
Financial Update│ 7
Fiscal 2010
Fiscal 2011 YTD
Financial Position Summary
CFA West Michigan Society
$25,000
$20,000
$15,000
$10,000
$5,000
$Fiscal 2009
Fiscal 2010
Total Surplus
Financial Update│ 8
Fiscal 2011 YTD
Cash
Membership: Andrew Mason, CFA
Membership│ 9
Enrollments versus Charterholders
100
90
80
70
60
50
40
30
20
10
0
Enrollments
Membership│ 10
Charterholders
Congratulations New Charterholders
• Jason Balgavy, CFA
• Greg Bosch, CFA
• Ben Carlson, CFA
• David Hodge, CFA
• Brandon Lund, CFA
• Jaime Mauppin, CFA
• Steve Osterink, CFA
• Dan Rinzema, CFA
• Wei Sun, CFA
Membership│ 11
Total CFA West Michigan Membership
120
100
80
60
40
20
0
Charterholder
Membership│ 12
Non-Charterholder
Guest
The Magic of Compounding
600
564
500
400
300
200
100
0
1994
2002
2010
2018
Congratulations New Charterholders │ 13
2026
2034
2042
2050
Public Awareness: Jeff Tryka, CFA
Public Awareness│ 14
Public
Awareness
– Who
needs to
know?
■ The Public Awareness efforts of CFA
West Michigan are designed to
support the Society’s mission across
disciplines
■ Our outreach and communications
are targeted to a variety of groups:
• Our members
• The broad financial and
professional community
• General public
■ We employ a variety of channels
from traditional media to new media
Public Awareness│ 15
■ Ongoing updates for monthly
meetings and presentations
■ News for special events
•
Panel Discussions
•
Global Investment Research
Challenge
•
Outreach events at Universities
•
Joint events (World Affairs
Council)
■ Recognition of achievements
Public Awareness│ 16
What are
we telling
them?
How are
we telling
them?
■ Traditional methods – press releases,
outreach to West Michigan business
and traditional media (Grand Rapids
Press, Business Journal, MIBiz, etc.)
■ Electronic distribution – e-mails to
members, posting of press releases to
our website
■ Alternative channels – such as event
calendars on media websites (GR
Chamber of Commerce, Broadcast TV
Stations, etc.)
■ Advertising
Public Awareness│ 17
Programming: Greg Bosch, CFA
Programming│ 18
Programming
Goals
■ Educate Members and Provide
Opportunities for Networking
■ Build Luncheon Presentations around
Recurring Events
- start the season with Eurasia Group
- start the New Year with Mitch Stapley
- end the season with the Federal
Reserve
■ We have tried (and will continue to try)
new things
- CFA Connect
- late afternoon meeting
- GVSU meeting
- Kalamazoo meeting
Programming│ 19
Luncheon
Presentations
■ Aug ‘10 – Geopolitical Risk: Emerging
Trends and Hot Spots
Willis Sparks, Eurasia Group
■ Sept ‘10 – Opportunities of Investing in the
Real China
Tim and Ping Liang, AlphaMax Advisors
■ Oct ‘10 – Frontier Markets
Larry Speidell, Frontier Asset Management
■ Nov ‘10 – Managing Bonds in Today’s
Marketplace
Chris Vincent, CFA, Willaim Blair & Company
■ Dec ‘10 – Market Outlook
Steve Heck, CFA, MFS
Programming│ 20
Luncheon
Presentations
■ Jan ‘11 – Bond Vigilantes
Mitch Stapley, CFA, FifthThird
■ Feb ‘11 – Currency: Driving Forces and
Diversification
Kieran Osborne, CFA, Merk Investments
■ Apr ‘11 – US Economic Outlook
Paul Traub, Chicago Federal Reserve Bank
■ June ‘11 – Society Annual Meeting
In the future…
■ Sept ‘11 – Geopolitical Risk
Eurasia Group
Programming│ 21
Social
Opportunities
■ CFA Connect
- informal gatherings after business
hours to provide networking
opportunities for members,
candidates and guests
■ CFA Christmas Party
- held at the GRAM including dinner
and tour of the special Diana: A
Celebration exhibit
Ideas
■ If you have ideas for luncheon
presentations or social events,
please let us know.
Programming│ 22
Technology: Alan Kort
Technology│ 23
Website
Services
■ Announcements
■ Calendar
■ Presentation Archive
■ Job Postings
■ Proxy Voting
■ CFA Program and Membership
Information
■ Industry Links
Technology│ 24
Additional
Services
■ Online RSVP
■ WebEx
Technology│ 25
Education: Larry Blose, Ph.D.
Education│ 26
Society Scholarships
December 2010
June 2011
Total
4 scholarships
7 scholarships
11 scholarships*
*We obtained 1 scholarship through the society
scholarship sharing program
Education│ 27
CFA Reception and Information
Session – March 24, 2011
The Speaker for the session was William Trent,
the CFA Director of Exam Development for the
CFA Institute. Participants included 47 students
and finance professionals from the area, 8 CFA
candidates, 6 Faculty Members from GVSU, and
Four CFA West Michigan Society members.
Education│ 28
CFA Mock Exam
Level I
Level II
Level III
Total
16 participants
4 participants
7 participants
27 participants
The Mock exam was a six hour examination under
CFA test conditions administered on May 21. The
exam was jointly sponsored by GVSU,
Kaplan/Schweser, and CFA West Michigan Society
Education│ 29
Strategic Initiatives: Martin Axelrod, CFA
Strategic Initiatives│ 30
Strategic
Initiatives
■ Strategic Planning – Continue Implementation
Board Member Champions
Optimize Strategic Objectives per Offering
More Discrete Goals / Benchmarking
■ Regional / International Best Practices Sharing
CFA Connect
Professional Associations
Member Communications
Advocacy to Government
Career Services
Strategic Initiatives│ 31
Strategic
Initiatives
■ College Outreach
Global Research Investment Challenge
Level 2 Funding Initiative
■ Technology
Website – news, events, registrations
WebEx
Career Services
Social Media
Strategic Initiatives│ 32
Proxy: David Hodge, CFA
Proxy│ 33
2011-12
Proxy
Items
■ Director Elections
■ Ted Fuger, CFA
2012
■ Greg Bosch, CFA
2014
■ Len Harrison, CFA
2014
■ Maximum Size of Board (8 persons)
■ Note: Directors Not Standing for Election
Proxy│ 34
■ Andrew Mason, CFA
2012
■ Martin Axelrod, CFA
2012
■ David Hodge, CFA
2012
■ Ryan Allen, CFA
2013
■ Jeff Tryka, CFA
2013
Investment Forecasting Awards
Investment Forecasting Awards│ 35
10-Year U.S. Treasury Note Yield
3.90%
3.60%
3.56%
3.50%
3.15%
3.05%
3.00%
2.70%
2.65%
Investment Forecasting Awards│ 36
10-Year U.S. Treasury Note Yield
Dave Mange
Investment Forecasting Awards│ 37
3.05%
Standard & Poor’s 500 Index
1322
1313
1200
1180
1165
1143
1126
1100
1050
Investment Forecasting Awards│ 38
Standard & Poor’s 500 Index
Jay Wisentaner
Investment Forecasting Awards│ 39
1322
Individual Stock Selection
Aircastle Limited
Atmel
Devry Inc.
Jacobs Engineering
Spartan Motors
Susser Holdings
Turkcell
X-Rite Corp.
Investment Forecasting Awards│ 40
Individual Stock Selection
Ryan Allen
Atmel
144.23%
Aircastle Limited
39.18%
X-Rite Corp.
32.32%
Jacobs Engineering
26.36%
Susser Holdings
23.20%
Devry Inc.
14.79%
Spartan Motors
11.40%
Turkcell
-6.94%
Investment Forecasting Awards│ 41