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Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms. Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms.
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y felix badea Employees Need Education Texas-based fiduciary and trustee of employer-sponsored defined contribution plans views participant education as critical component to plan success Jeff Atwell, Senior Vice President Trust Division of American National Bank of Texas Participate in an employer-sponsored defined contribution plan for retirement savings and you are twice as likely to feel confident that your accumulated savings will be adequate to fund your retirement. According to a March 2014 press release detailing results from the annual Retirement Confidence Survey by the Employee Benefit Research Institute in Washington, D.C., 24 percent of surveyed employees participating in a DCP feel prepared for retirement as compared to only nine percent of survey respondents whose employers do not offer plans. The EBRI survey – now in its 24th year – is the nation’s longest running survey tracking employee retirement confidence. Those statistics don’t surprise Jeff Atwell, senior vice president in the Trust Division of American National Bank of Texas with its trust office in Fort Worth, Texas. In his 40 years in the financial services industry, Atwell has designed or administered more than 2,000 retirement plans. He admits his earlier career years paid greater attention to the needs of employer’s providing retirement plans. That has certainly changed. As the retirement savings paradigm has shifted from defined benefit plans to plans in which participants play a larger role in determining the amount of savings, Atwell’s focus turned toward educating the plan participants. “The participant has the responsibility to make sure that they properly manage their investment choices based on their risk tolerance and time horizon,” Atwell said. “They need to use the tools and resources that are made available to them through the platform and advisor services of the plan chosen by the employer.” Unfortunately, many employees don’t have the financial investment knowledge base to evaluate the myriad of choices. That is a primary reason why Atwell prefers to design and govern plans for employers committed to allowing financial advisors to meet regularly with employees to provide assistance at the workplace. He is concerned that far too many of today’s workers are woefully underfunded in their retirement savings. “It is getting more difficult to have adequate savings for retirement because of the longevity risk that people have because we are fortunate to live in a country that has a really good health care system,” he said, adding that fluctuations in the investment market only add to the challenge if participants of defined contribution plans don’t follow sound, prudent financial advice. He’s talking about not panicking during market downturns such as occurred in 2008 and 2009. “Those participants that understood that was a period of time when good decisions needed to be followed and to not make emotional decisions stood the course, were positioned correctly and have actually fared much better since then than participants who made emotional decisions in regards to their investment and made poor decisions.” Learn more about Atwell and the Trust Division of the American National Bank of Texas online at www.anbtx. com/Wealth-Management/Trust-Professionals/JeffAtwell THE SUIT MAGAZINE p.29
- Page 1 and 2: Issue 61 JULY 2014 exclusive interv
- Page 3 and 4: publishers note ISSUE 61 | JULY 201
- Page 5 and 6: BUSINESS / FINANCE 31 Equity Exposu
- Page 7 and 8: THE SUIT MAGAZINE p.7
- Page 9 and 10: nia cities reveals still lower mini
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- Page 16 and 17: y diane e. alter TRIVIA ISN’T TRI
- Page 18 and 19: The 7 Most Common Negotiating Mista
- Page 20 and 21: BAD BYOD HABITS THAT CAN EXPOSE YOU
- Page 22 and 23: y david stein >>> Lease - Don’t O
- Page 24 and 25: y felix badea Talking Face to Face
- Page 26 and 27: Meeting With The Wife Too Both spou
- Page 30 and 31: y judy magness Building Wealth in S
- Page 32 and 33: y judy magness The Complications of
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- Page 41 and 42: part of why he attained a certifica
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- Page 54 and 55: Promoting World-Changing Innovation
- Page 56 and 57: y amy m. armstrong CANDID CONVERSAT
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STILL PUZZLED<br />
... by your supply chain solution?<br />
Streamlining supply chains throughout the automotive, retail,<br />
pharmaceutical, pulp & paper, logistic, and food industries.<br />
www.meadewillis.com<br />
Contact Meade Willis today for a free consultation regarding your e-commerce,<br />
EDI, supply-chain requirements: (866) 369-1146 | www.meadewillis.com
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