Mayflower Moments - In the News

 Mayflower Advisors congratulates Steve Dimitriou, Managing Partner, as 2009 PLANSPONSOR Magazine Retirement Plan Adviser of the Year!*

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Please Note: The opinions expressed for each news story are not a complete analysis of every available material fact and reflect our opinions as of the date of the interview which may change due to market events. There is no guarantee that any of the forward looking statements said during this interview will be attained. The views expressed by the other speakers are not necessarily the views of Mayflower Advisors, LLC or Wells Fargo Advisors Financial Network.

Boston Herald, October 16, 2009

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" Dow tops 10,000(again)"

Plan Advisor, October 9, 2009

 
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"How to market to 403(b) plans"

Mayflower Advisors, LLC and Wells Fargo Advisors Financial Network do not act as a fiduciary and do not provide tax or legal advice. However, we will be glad to work with you, your accountant, tax advisor and or lawyer to help you meet your financial goals.

Wall Street Journal, September 23, 2009

"Investors Seek Inflation Haven in TIPS funds" - This article discusses how some investors who fear inflation are turning to Treasury inflation-protected securities (TIPS) because they are worried that US government spending will lead to high inflation. Investors do not appear to be interested in the yield, but are interested in the protection they hope TIPS will provide should inflation suddenly increase. Larry commented that although there’s been a lot of money flowing into TIPS, there hasn’t been any inflation. People are putting money into TIPS based on their expectations.

CNBC, September 1, 2009

" September Market Outlook"- In this article, Larry Glazer discussed what he believes is driving the market. September has historically been a challenging month and sentiment has become complacent in investors. What appears to be driving these investors is liquidity. Larry currently favors high quality dividend payers; this area is lagging in the market. 90% of money in mutual funds has been moved to bond funds year to date. Therefore, Larry thinks the next logical place to search for yield is high quality dividend payers, when appropriate. He believes these stocks are less vulnerable because they haven’t participated or led the market.

CNBC, August 28, 2009

CNBC, August 13, 2009

 "Treasury Investigating 529 College Savings Plan " - In this article, Larry Glazer defends 529 plans because he feels the real problem is the rising cost of college. These plans are self directed. He recommends investors avoid aggressive investment options; many plans have many safe alternatives. Larry thinks there is a lack of education on how these programs work and it is the financial service’s responsibility to educate people. Investors need to pay attention to them and actively manage them. Additionally, he thinks parents need to change lifestyle expectations and save more at a younger age. Lastly, Larry feels investors should be more conservative and take control.

 Reuters, August 7, 2009

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"Treasuries- US bonds fall as job data speed recovery hopes"

Past performance is no guarantee of future results. Although treasuries are considered free from credit risk they are subject to other types of risks. These risks included interest rate risk, which may cause the underlying value of the bond to fluctuate, and deflations risk, which may cause the principal to decline and the securities to underperform traditional treasury securities.

Wall Street Journal, July 1, 2009

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"Dow Rose 838.08 in Quarter"

Past performance is no guarantee of future results. Investments that are concentrated in a specific sector or industry may be subject to a higher degree of market risk than investments that are more diversified. Investments in commodities are speculative, involve substantial risk, and are not suitable for all investors. The Dow Jones Industrial Average (a registered trademark of Dow Jones Co, Inc.) is an unmanaged index composed of 30 common stocks. The S&P 500 (a registered trademark of the McGraw Hill Companies) is an unmanaged, index of common stock. The NASDAQ Composite (a registered trademark of Nasdaq Stock Market, Inc.) is an unmanaged index of common stock. The indices are presented to provide you with an understanding of their historic long term performance and are not presented to illustrate the performance of any security. Investors cannot directly purchase any index.

Fox Business, June 21, 2009

"Father's Day Special" - Lloyd discussed how, ironically, Larry was the one teaching him. Larry directed his father in many areas such as changing their business to fee based. Larry says they don’t always agree on everything but the timeless advice he has learned from his father is something he can always pass on to their clients. He also discussed how there is no substitute for life experience. The best advice they can give their clients in times like these is to stay calm, because markets are fairly cyclical and the recession will eventually pass. Lloyd, having lived through two recessions, is confident of this. Lloyd also discussed debts and deficits and how it will be a jobless recovery which should keep inflation low in the near term. He expects higher rates to soon return.

Smart Money, June 19, 2009

"5 Father-Son Teams Share Investing Secrets" - Larry and Lloyd Glazer discussed the advantages of working together and how their business came about. They decided to start their own practice when their current company, Advest, was acquired by Merrill Lynch in 2005. This has worked out wonderfully for them as has their transition to a fee-based structure from a commission-based one. Larry says the most important thing he learned from his father was the knowledge he has gained from a very young age on subjects talked about at the dinner table, such as debt and leverage.

Fox Business, June 5, 2009

"Time to get back in?" - Many are wondering where they can jump in the market after they have missed the spring rally. Larry discussed how human nature is alive and well and the swing in human emotion is a challenge for the business.  Managing emotion can be difficult. Larry says we should simplify it and look for what you can control and what you can’t. There are a lot of opportunities in the market; investors just need to be patient.

Bankrate.com, June 10, 2009

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"What's New in College Savings Plans"

The availability of such tax or other benefits related to 529 plans may be conditioned on meeting certain requirements.  Non-qualified withdrawals are subject to federal and state income tax and a 10% penalty.  Index Funds and Exchange Traded Funds (ETFs) are subject to risks similar to those of stocks.  Investment returns may fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.  Index Funds and ETFs seek investment results that, before expenses, generally correspond to the price and yield of a particular index.  There is no assurance that the price and yield performance of the index can be fully matched.  Generally, CD's may not be withdrawn prior to maturity.  CDs are FDIC insured up to $250,000 per depositor per insured financial institution through December 31, 2013 at which time the FDIC insurance coverage will change to $100,000 per depositor per institution.  CDs may be issued by out of state institutions.

  WBZ television, April 24, 2009

"Credit Card Reform" - Steve discussed how missed payments on any debt may change an individual's credit report. This can allow credit card companies to increase interest rates on existing accounts, which is a common practice for them. Barack Obama suggests a credit card holders’ Bill of Rights which will: ban unfair increase in interest rates, end confusing terms and conditions, post contracts online and establish more oversight. If the bill of right passes, consumers may find it easier to get out of debt. However, Steve warned that consumers could still face high interest rates. It will still be possible for companies to raise rates which could throw off consumers' budgeting plans.

 CNBC, April 9, 2009

 "Smart Moves for your 401k" - Steve Dimitriou discussed ways to possibly improve "hurt" 401k plans. He does not suggest dollar cost averaging and believes allocating to time the market is a bad idea. He thinks people should revisit their risk tolerance and make sure they are allocated accordingly. He views this as an opportunity for investors to rebalance their portofolio but advises investors to make sure they stay consistent with their risk tolerance.

Past performance is no guarantee of future results. The views expressed by William Jordan are his own and do not necessarily reflect the opinion of Mayflower Advisors, LLC or Wells Fargo Advisors Financial Network and its affiliates.

 The Wall Street Journal, April 6, 2009

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"Corporate Bonds Are No Silver Bullet"

References to "Mayflower Advisors" refer to "Mayflower Advisors, LLC", a separate entity from Wells Fargo Advisors Financial Network, LLC.

Fox Business, March 19, 2009

 "Fox Business TV" - In this clip, investors are urged to not read too much into the day to day activities of the market. Market moves can be exaggerated during an options expiration week; we saw the most dramatic moves in the bond market in 20 years. Yields are low and the Fed is trying to compel people off the side lines. The market is driven in part by emotion and strategy changes may be needed to get investors through this emotion in one piece.

 Reuters, Febuary 20, 2009

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"Global Markets - Stocks sink, gold nears record on bank fears"

 Past performance is no guarantee of future results. Yields and market value of Treasuries will fluctuate so that your investment, if sold prior to maturity, may be worth more or less than its original cost. Futures trading, which is speculative and volatile and involves a high degree of risk, is only appropriate for the risk capital portion of a portfolio. Buying gold allows for a source of diversification for those sophisticated persons who wish to add precious metals to their portfolios and who are prepared to assume the risks inherent in the bullion market. Any bullion or coin purchase represents a transaction in a non-income-producing commodity and is highly speculative. Therefore, precious metals should not represent a significant portion of an individual’s portfolio.

 Reuters, Febuary 20, 2009  

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"Treasuries - Bonds gain on bank nationalization fears"     

 Past performance is no guarantee of future results. Yields and market value of Treasuries will fluctuate so that your investment, if sold prior to maturity, may be worth more or less than its original cost. Buying gold allows for a source of diversification for those sophisticated persons who wish to add precious metals to their portfolios and who are prepared to assume the risks inherent in the bullion market. Any bullion or coin purchase represents a transaction in a non-income-producing commodity and is highly speculative. Therefore, precious metals should not represent a significant portion of an individual’s portfolio.

CNN Money, January 12, 2009  

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"Stocks: New Year, same problems"

 The Wall Street Journal, January 1, 2009

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"Few Bright Lights Amid the Gloom"

Investing in emerging markets presents certain risks not associated with domestic investments, such as currency fluctuation, political and economic instability, and different accounting standards. This may result in greater share price volatility.Investments in commodities are speculative, involve substantial risk, and are not suitable for all investors. Investors should be aware that such investments can quickly lead to large losses as well as gains. Additionally, restrictions on redemptions may affect your ability to withdraw your participation. Further, there may be substantial fees and expenses. Please see the disclosure documents for a complete description of investment objectives, risks, charges, and expenses.

CNBC, December 5, 2008

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"New Risks to Your 401(k): Firms Cut Matching Funds"

Summary: Steve Dimitriou discussed how many companies have been reducing their 401k matches, but he does not think it is a wide spread trend. If your employer takes away matching, you should still continue contributions to your 401k plan.

The Wall Street Journal, December 2, 2008

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"Making the Best of a Bad Year"

Mayflower Advisors, LLC and Wells Fargo Advisors Financial Network do not provide tax or legal advice.

The Boston Globe, December 2, 2008

 "Recession’s Official. Now What?" - This article discussed how some top economists declared a recession. As major indexes continued to decrease, investors were doing just about anything to keep their money safe. Larry Glazer discussed people’s fear and what they were doing to try and save their money.

The Wall Street Journal, November 12, 2008

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"A Little-Known Tax Break for Bruised 529s"

Mayflower Advisors, LLC and Wells Fargo Advisors Financial Network do not provide tax or legal advice. The availability of tax or other benefits mentioned in the article may be conditioned on meeting certain requirements.

 Reuters, October 24, 2008

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"Treasuries - Bonds gain as stocks plunge drives safety bid"  

 

Washington Post, October 19, 2008

"529 Savings Plans Battered in Bownturn" - The recession has affected many investors’ college savings funds. Many parents are reconsidering strategies. Keep in mind when withdrawing money for non-qualified expenses that there may be tax consequences. Other options might include rolling into a new plan or finding other ways to finance college while you wait for the market to pick up. Larry Glazer discussed how this downturn has forced some investors to assess how they are saving. Education is expensive; the investing environment in October 2008 made it harder for people to meet their educational funding needs. 

An investor should consider, before investing, whether the investor's or designated beneficiary's home state offeres any tax or other benefits that are only available for investments in such state's 529 college savingss plan. Additionally, neither Wells Fargo Advisors Financial Network nor Mayflower Advisors provide tax advice.

Business Week, October 7, 2008

 MarketWatch, October 1, 2008

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"Fund outflows mean tax hit for investors"

The statement attributed to Lawrence Glazer's thought that "investors switch into ETFs before the distribution dates" is a broad generalization.  This should read that he sometimes suggests investors consider this option in light of their investment situation.  Additionally, neither Wells Fargo Advisors Financial Network nor Mayflower Advisors provide tax advice.

 CNBC, August 13, 2008 

"Multinationals: In or Out?" – Larry Glazer, Managing Partner of Mayflower Advisors, discussed how a stronger dollar has affected oversea business and how he believes the domestic sector of these multinationals may offset any decline of oversea business. He expressed the best way for investors to protect themselves is to avoid anti-dollar trade that many investors are chasing.

Dow Jones, August 13, 2008 

"Emerging Markets May Not Fear Strong Dollar" – Larry Glazer, Managing Partner of Mayflower Advisors, discussed how inflation in the emerging markets hinders growth overseas and how it will take time for the banks in emerging markets to overcome the inflation problem. He also covered his thoughts on any further complications since the credit crunch that originated in the US is becoming more of a global concern. 

Reuters, August 11, 2008

"As U.S. dollar gains, should portfolios change?" -  Larry Glazer, Managing Partner of Mayflower Advisors, discussed how many investors have put their money into multinationals and emerging market stocks thinking that the dollar would remain on the downward trend. He also talked about how some investors are complacent and unaware of the potential dangers. Larry felt that big companies still hold some advantages, such as access to credit, which should assist with finance deals and add to market share.

The prices of small company stocks are generally more volatile than large company stocks. They often involve higher risks because smaller companies may lack the management expertise, financial resources, product diversification and competitive strengths to endure adverse economic conditions. Investing in foreign securities presents certain risks not associated with domestic investments, such as currency fluctuation, political and economic instability, and different accounting standards. This may result in greater share price volatility.

 
Fox Business, August 8, 2008

"Moving your 401k" – Steve Dimitriou, Managing Partner of Mayflower Advisors, discussed the options for 401k plans when switching jobs. If the account is less than $100,000, it may be best to rollover to the new employers’ 401k plan. He covered some of the advantages such as: lower costs, flexibility, loans, prescreened funds for quality. If your new employer does not offer 401k plans, it may be best to rollover to an IRA but be aware of the fees. You may also leave the plan with your old employer, however it may be inconvenient. No matter the circumstances, investors should try to avoid taking it in cash because they will be assessed taxes and fees.

Depending on the investments used to fund the IRA, charges and expense could be higher or lower than those you would incur inside your 401(k) plan. If you choose to rollover money from your 401(k) to an IRA, please make sure the investment choices you select inside your IRA are suitable to meet your needs and you are aware of all applicable charges. Withdrawals from traditional IRAs and 401(k)s are subject to ordinary income tax and may be subject to a federal 10% penalty if taken prior to age 59½.   

It is important to remember that by rolling over your 401(k) balance from your previous employer to your new employer the number of available investment options may decrease, increase or stay the same. It is also important to remember that if you take a loan from your 401(k) plan and leave the company prior to paying the loan back (with interest), the loan terms may require you to pay back the outstanding balance immediately in order to avoid it being reclassified as a distribution which would make the amount subject to ordinary income taxes and, if taken before age 59½ , a 10% federal penalty. This interview is not a complete analysis of every material fact in respect to 401(k) plan options when leaving an employer.

Reuters, July 29, 2008

"Treasuries – Bonds slip as stocks jump on oil, consumer data "– Larry Glazer discussed how he believes the housing data is not a good indicator of the market as the mood seems to brighten with oil prices declining and stocks increasing. He also covered how treasuries are decreasing in appeal and are no longer viewed as a safe haven by some.

Past performance is no guarantee of future results.

 U.S. News, July 28, 2008

"Rethinking 401k Rollovers" - Steve Dimitriou discussed the effects of rolling over 401k money into an IRA account as rolling over into an IRA account may lead to fees and opportunity loss of higher growth. However, he also addressed a pro of rolling money into an IRA account is diversification which generally allows more freedom and the ability to invest in individual stocks, bonds and mutual funds. Also, with 401k plans, you have the option of taking loans, which are not allowed in IRAs.

Depending on the investments used to fund the IRA, charges and expenses could be higher or lower than those you would incur inside your 401(k) plan. If you choose to rollover money from your 401(k) to an IRA, please make sure the investment choices you select inside your IRA are suitable to meet your needs and you are aware of all applicable charges. When taking an in-service 401(K) loan, taxes and IRS penalties may apply. Withdrawals from traditional IRAs and 401(k) are subject to ordinary income tax and may be subject to a federal 10% penalty if taken prior to age 59½.

Fox Business, July 21, 2008

"Other Market Opportunities" - Larry Glazer, Managing Partner of Mayflower Advisors, discussed some alternative investment opportunities. Larry advised not to let short term noise affect long term plans but to instead look at market decline as an opportunity to buy rather than to sell during a weakness. He discussed the opportunities in commercial real estate as a result of the credit crunch. Since new projects are not being financed, existing projects become more valuable as construction cost increases. In addition, he covered how investors need to implement a plan designed to protect themselves and their future from global inflation. 

WBZ television, July 16, 2008

"More Raiding Retirement Funds Amid Economic Woes" - Steve Dimitriou, Managing Partner of Mayflower Advisors, discussed the long term effects of withdrawing money from 401k plans and his belief that taking money out of 401k plans should only be done as a last resort. When money is withdrawn, not only do you have the potential to be charged penalties and taxes, but you loose money that you would have saved otherwise.

Withdrawals are subject to ordinary income tax and may be subject to a federal 10% penalty if taken prior to age 59½.

CNBC, June 30, 2008

"Worst June Since 1930" - Larry Glazer, Managing Partner of Mayflower Advisors, discussed strategies to help keep money safe. As the market drops, Larry has noticed more people are expressing their fear, greed and anger. Rather than getting angry, Larry suggested to get even and get inflation protection based strategies in your portfolio. Larry voiced his belief that investors need a plan that incorporates global inflation and dividend paying stocks. He also stressed his thought that they need to realize some of the more “exciting” areas of the market may not necessarily lead them to their goals.

Dividends are not guaranteed and are subject to change or elimination.   

Fox Business, June 13, 2008

"Father and Son Financial Advisors" - Larry and Lloyd Glazer discussed the frills of working together. Larry discussed how he has benefited from his fathers experience and what he has witnessed. Lloyd’s most notable memory was during the 70s when the market was flat for almost ten years. He recalled great firms that are gone today and how that has paved the way for independent practices like theirs. Larry was able to learn about this time period from a generational perspective. They discussed how today some great regional firms are disappearing as well and how independent practices, such as Mayflower Advisors, are offering their independent services and advice. 

 Investment News, June 9, 2008

"Advisers’ role evolves as 401k plans come to dominate" - Steve discussed the changing role of financial advisers with their employers concerning their 401k plans. A decade ago, advisers acted more as sales representatives – once the sale was made, all contact was discontinued. Today, advisers play a more pivotal role, and advice is cherished and welcome.

Rukeyser's, June 2008

"The Real Risk in The Market Today is Staying Out of it" – Larry discussed the different ways to stay invested in the market and opportunities to profit in a slow market. Chasing performance numbers in so-called “hot” sectors will not necessarily result in portfolio gains. It is important not to disregard middle-of-the-road investments that historically have put up solid returns.   

 Please note that past performance is not a guarantee of future results.

Reuters, May 27, 2008

"Road to Hedge Fund riches is Rockier Now" - Larry discussed the difficulties of starting a hedge fund in an economic slowdown and credit crisis. Raising quick capital from hedge funds is more difficult as wealthy investors who formerly provided the monetary backing seem to be shifting their investments to more well-known, reputable funds.  

Reuters, May 6, 2008

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"TREASURIES-Short Maturity Bonds Gain On Credit Concerns"

SmartMoney, April 25, 2008

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"A Last Resort For Student Loans"

WSJ.com, March 2008

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"Short Term Munis Beckon, But Are They Worth It" 

 College Savings Foundation, January 2008

Larry was a guest chairperson at the annual College Savings Foundation conference, “Changing Lives: Inspiring Americans to Save for College”, located in Miami.  Larry was one of only two financial advisors in the country invited to discuss how 529 college savings plans may fit into a client’s overall investment strategy. The College Savings Foundation is a not-for-profit organization with the mission of helping American families achieve their education savings goals by working with public policy makers, and financial services industry executives in support of education savings programs. 

 Reuters, August 17, 2007

"More U.S. Hedge Funds likely to crumble in ’07"- ­­ Larry discussed the troubling performance of hedge funds. Poor performance seems to be making investors withdraw funds, and it was noted that circumstances might continue to worsen before seeing any improvement. The lack of incentive fee collection is especially damaging to small and novice fund managers who are currently being forced to pay for these expenses from their own pockets. 

 Please Note: The opinions expressed for each news story are not a complete analysis of every available material fact and reflect our opinions as of the date of the interview which may change due to market events.

There is no guarantee that any of the forward looking statements said during this interview will be attained. The views expressed by the other speakers are not necessarily the views of Mayflower Advisors, LLC or Wells Fargo Advisors Financial Network. Investments that are concentrated in a specific sector or industry may be subject to a higher degree of market risk than investments that are more diversified.