Trust & Wealth
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2 O 12 October Trust & Wealth 18&19 MANAGEMENT TBA Barrett Training Center CONFERENCE nashville Conference Agenda Thursday, October 18 Friday, October 19 Noon Registration 7:30 am Breakfast Refreshments sponsored by ProxyTrust, Islandia, NY Sponsored by MainStreet Advisors, Chicago, IL New York, NY 1:00 pm Federal Issues Update Timothy Keehan, Vice President Senior Counsel, 8:30 am Prudent Investor Rule – Placing Center for Trust, Investments, and Securities, Responsibilities before Returns American Bankers Association, Washington, DC Ryan Layton, Portfolio Manager, MainStreet This presentation covers proposed federal legislation Advisors, Chicago, IL and regulation affecting the trust business. This presentation will focus on the importance of understanding the Prudent Investor Rule from an in- 2:00 pm Finding Value & Controlling Risk in Today’s vestment perspective and will discuss the duties and Low Interest Rate Environment responsibilities a fiduciary has to its clients. There are Rick Calhoun, First Vice President, several areas of fiduciary responsibility that can never Crews & Associates, Inc, Little Rock, AR be fully abdicated to outside parties. However, if stat- Fixed income yields are at an all-time low, and un- utes and trust provisions permit, the fiduciary may less the global economic picture changes dramati- delegate certain decisions to professional managers, in- cally, rates have the potential to remain extremely vestment advisors, and/or consultants. Understanding low for many years into the future. Calhoun will the Prudent Investor Rule provides the parties involved show how trust investment officers can increase with the necessary guidelines for meeting their fiducia- overall return while controlling risk. ry responsibility. These, and other important elements of the Prudent Investor Rule, will be highlighted. The presentation will examine the current condition of traditional investments such as US Treasury, govern- 9:30 am Using Corporate vs Personal Fiduciary ment agency, municipal, and corporate bonds. The Panel Moderator: Keith Keisling, Vice President/ lecture will also highlight opportunities and tactics to Trust Officer, Equitable Trust Company, Nashville improve performance such as municipal and corpo- Panelists: Thomas R. Buckner, Attorney, Apperson rate sector rotation, defensive securities, government Crump, PLC, Memphis; Carl Henderson, Part- guarantees, and alternative investments. Avoiding “the ner/CPA, Henderson Hutcherson & McCullough, hazard of loss” from investments that are commonly PLLC, Chattanooga; Chris Kelly, Senior Vice Presi- used will be discussed since protecting principal is al- dent, Pinnacle Bank, Murfreesboro ways a trust department’s primary objective 3:00 pm Break Sponsored by Broadridge Financial Solutions, Inc, New York, NY 3:15 pm State Law Update/Tennessee Taxes The initial choice of corporate versus personal fidu- Bryan Howard, Howard & Mobley, PLLC, ciary is a critical and important decision in an estate Nashville, and Al Secor, Executive Vice President, plan. However, as the trust or estate administration CapitalMark Bank & Trust, Chattanooga continues, there are numerous instances where this choice affects the ongoing duties and responsibilities Tennessee’s General Assembly made a number of of the executor or trustee and may need to be re- changes, particularly with regard to the inheri- viewed. This expert panel will review and highlight tance and gift taxes. This segment covers recent the legal and practical issues attendant to this choice legislation, as well as court decisions, and high- and the administration of the estate or trust. lights several tax traps for practitioners when de- signing estate plans. 10:45 am Break Sponsored by AccuTech Systems Corporation, 5:00 pm Reception Muncie, IN Sponsored by Crews and Associates, Inc, Little Rock, AR 11:00 am Economic/Investment Outlook 6:00 - Dinner & Nashville Songwriters Gerald W. Laurain, CFA, First Tennessee Bank 8:00 pm Lee Thomas Miller and Roger Cook Wealth Management, Memphis, TN Sponsored by Federated Investors, Inc, Pittsburgh, PA With the election in sight and numerous federal budget, tax, and financial issues deferred until a lame Song duck session, this segment will highlight the state of WRITERS: the economy and its potential outlook. Lee Thomas Noon Conference Adjourns Miller and Roger Cook Thank You to Our General Sponsors Devonshire Fund, White House, OH, IPI Trust Services, Little Rock, AR, and INFOVISA, Canton, GA Speaker Bios THOMAS R. BUCKNER CARL HENDERSON, CPA egories, has been selected as one of the Thomas Buckner is an at- Carl Henderson is a partner top 100 Lawyers in the US by Worth torney and member of the with Henderson Hutcher- Magazine, one of the best lawyers in firm Apperson Crump, son & McCullough, PLLC, Tennessee by Business Tennessee mag- PLC, of Memphis. His Chattanooga. He joined azine, and one of the Best Lawyers in specialties include probate, HHM in 1981 as was admit- Tax Law by Corporate Counsel maga- estate, and trust administration; ted to partnership one year later. As a zine. He has the AV rating (highest wills, trusts, and estate planning; past managing partner, Henderson spe- available) for ethical standards and le- and tax planning. cializes in estate/gift planning for indi- gal ability from Martindale-Hubbell’s peer review ratings system. Howard Buckner earned his BA degree from viduals and succession planning for his frequently lectures and writes on estate Virginia Military Institute and his corporate clients. planning and taxation topics. JD from Vanderbilt University. He He is a former revenue agent for the IRS is a fellow with the Tennessee and and often serves as an expert witness be- Memphis Bar Foundations and a fore the US Tax Court and the US Bank- KEITH KEISLING member of the Memphis, Tennessee, ruptcy Court. Keith Keisling is a vice presi- and American Bar associations. Henderson earned his BS degree in ac- dent and trust officer with counting from Austin Peay State Univer- Equitable Trust Company in RICK CALHOUN sity. A CPA, he is an active member of Nashville, TN. He has 28 years’ experi- the Tennessee Society of Certified Public ence in the trust industry. An attorney, Rick Calhoun is first vice Accountants. Keisling practiced law for several years president of sales & trading before beginning his banking career in at Crews & Associates, Inc, 1984. a regional broker/dealer in BRYAN Howard He is a graduate of Tennessee Techno- Little Rock, AR. He majored in histo- Bryan Howard is a co-found- logical University, received his Juris Doc- ry and political science at the Univer- ing member of Howard & torate degree from the George C. Taylor sity of Central Arkansas and received Mobley, PLLC. He assists School of Law at the University of Ten- a degree in business management families whose net worth nessee, is a graduate of Cannon Finan- from John Brown University. exceeds $10 million with cial Institute’s Corporate Trust School at Calhoun joined Crews & Associates wealth transfer planning, tax reduction Pepperdine University, and is a graduate in 1982 and presently serves as a prin- planning, charitable giving, and asset of the ABA’s National Graduate Trust cipal at the firm, holding a NASD Se- protection planning. He also advises the School at Northwestern University. He ries 24 general principal’s license and owners of closely held businesses with holds the designation of Certified Trust MSRB Series 53 municipal principal’s respect to tax and business succession is- and Financial Advisor. license. He is a fixed income special- sues and represents fiduciaries and ben- ist, institutional broker, and has been eficiaries with regard to trust and estate Keisling is a member of the Tennessee instrumental in training new brokers administration and litigation issues. Bar Association, the Nashville Estate Planning Council, is a past chairman of and investment officers during his 30- Howard earned his BS degree in busi- the Tennessee Bankers Association Trust year career in the securities industry. ness administration from the Uni- Committee, has served as a trustee and Calhoun taught investments at the versity of California at Berkeley, his a class director of the Southern Trust Southern Trust School and has con- JD from Vanderbilt University Law School, and serves as a trustee of the Ten- ducted classes in Bond Basics, Cus- School, and his LLM, taxation, from nessee Technological University College tomer Service, and Investment Fun- the University of Florida Levin Col- of Business Administration Foundation. damentals during his career. He is a lege of Law. He is certified as an estate member of various public policy and planning specialist in Tennessee. economic organizations and is fre- Howard is listed in the Best Lawyers CHRIS KELLY quently quoted in The Bond Buyer in America (2001-2010 editions) in With 24 years’ experience in the finan- Magazine. both the tax and trusts and estates cat- cial and legal industries, Kelly is a senior Speaker Bios vice president with Pinnacle He received a BA degree in mathemat- tion and investment selection processes. Bank where he heads the ics/statistics and an MS degree in man- Layton earned his BS degree in finance bank’s administrative trust agement with a concentration in finance from Michigan Technological Univer- group in Murfreesboro, TN. from Case Western Reserve University. sity. A chartered financial analyst, he is Before joining Pinnacle, he He holds Series 7, 24, 63, and 65 li- a member of the CFA Society