Allgen Financial Services, Inc. will be sponsoring a team for the 2010 Corporate 5k run in Orlando, Florida on April 15, 2010. The race begins at 7:15pm at Lake Eola. The Allgen Financial team will be meeting at the Allgen Financial Services, Inc. corporate office on Lake Eola (301 E. Pine Street, Suite 150) at 6:00pm. For those who are participants on other teams, come to our corporate office on April 15th before the race to receive a free gift.
The first 6 people that join the Allgen Financial team will have their entry fee paid for by Allgen Financial Services, Inc. Also, anyone who joins the Allgen Financial team will receive a T-Shirt for the race, and a care packet.
Paul Roldan says, “We know tax time can be a stressful time for most people. Therefore, we want to offer our community a way to release that stress. The 2010 Corporate 5k is ideal for having some fun on an unpleasant day.”
Registration:
Important: When registering for the event, please make sure to register as a team member and select Allgen Financial Services. If you are one of the first 6 to register, Allgen Financial Services, Inc. will reimburse you for your entry fee. The online registration deadline is April 1, 2010. Register Now
For More Information:
Kathryn Hite will be Allgen Financial’s team captain. She can be reached at hite@allgenfinancial.com or (407) 210-3888.
In an effort to support Priority Associates and support our community, Allgen Financial Services, Inc. would like to invite you to join us and other members of our community for an evening at the Orlando Magic game on November 16th.
The Orlando Magic has made tickets available to Priority Associates as a fundraiser. On Monday, November 16, the Orlando Magic will face off against the Charlotte Bobcats at Amway Arena.
For each ticket that you purchase, all money will go towards Priority Associates, a nonprofit organization serving the business community in Central Florida. You will also receive five raffle tickets towards a drawing for tickets to a future Magic Game.
Come out for a good time and invite your friends and family members as well! We hope to see you on November 16th.
Monday, November 16 at 7:00 PM
Discounted Price: $25/ticket
The market has shown signs of recovery this year achieving a 13% return through August 31st 2009. This has led the way to an improving economic outlook, with an expected positive GDP in the third quarter. The market has rallied over 50% since its lowest point in March, but is showing signs of a potential pullback over the short-term. This could lead to a pullback of 7-10% from current levels over the next few weeks. We are looking for a pullback in the S&P 500 to a level of 920-950. This pullback will most likely be intense and cause a lot of fear. These types of intense pullbacks will cause the “weaker hands” to exit the market which should lead the way to a solid intermediate term rally into the end of the year. As you will see in figure 1 and 2, there are two distinct technical patterns which have targets of 1,230 for the S&P 500 (Figure 1) and 11,100 for the Dow Jones Industrial Average (DJIA) (Figure 2). Although this may seem like an enormous run from the lows of March to the projected highs, the greatest rallies of all time have followed the largest pullbacks of all time. The 2008-2009 financial crisis was the largest negative return for the market since the Great Depression. So, it would not be irrational to think that history could repeat itself as it so often does.
Figure 1
Figure 2
While we may see a strong run going into the end of the year, there are still various economic pressures that have caught our attention as we move into next year. Further bank and private de-leveraging would lead to tighter credit markets and less consumer spending. Such bank actions are possible as we are witnessing delinquency rates within residential, commercial and credit cards at 15 year highs. Of those three credit card delinquencies are the only one that have started to level off. Both commercial and residential bank loan delinquencies have been consistently rising. Rising loan delinquencies cause banks to tighten lending standards, in turn, taking money out of the economy, which would inhibit expansionary activities such as home purchases and business investments. The September 8th, 2009 consumer credit report showed a drop in consumer credit by an annual rate of 10.4%. In percentage terms, the drop in credit is the biggest since June 1975. And on a year-on-year basis, credit is down 4.3%, the biggest drop since June 1944. This report is clear evidence that consumers are “hunkering down”. Instead of making new purchases they are paying off. Since approximately 70% of the U.S. economy is consumer driven the evidence that private citizens are de-leveraging could have negative effects on the economy. I personally believe that consumer de-leveraging is a good thing long-term for personal balance sheets since Americans are so strapped with debt, but while the de-leveraging process is taking place money that would be used to make purchases is being used to pay off debt and that has a negative effect on consumption.
Going forward the U.S. administration along with the Federal Reserve Board is going to have some very difficult choices to make. Currently the government is faced with sharply declining corporate and private tax revenues. At the same time the government is spending record amounts to boost the economy and bailout failing companies. Declining revenues and increased expenses has caused record deficits. The administration has projected a $1.58 trillion deficit for 2009 and $9 trillion over next the next ten years. Our current U.S. national debt is over $11.8 trillion (see http://www.usdebtclock.org/ for a jaw-dropping look at these numbers in real-time). These massive deficits will be added to our already astronomical debt. There lies the difficult decision that the administration has to make. The three most likely paths they will take are to: 1) raise taxes to increase tax revenues which would probably cause the economy to slow down and further raise unemployment over the current reading of 9.7%; 2) raise the Federal Reserve rate which would tend to support the dollar thereby fight inflation but this would also slow the economy or 3) not do anything and potentially allow inflation to run out of control. So, as you can see the administration is in a catch-22.
Although the administration has its hands full, we do believe there are opportunities out there that we are currently taking advantage of and we also believe that as we go forward into the next year there are going to be more opportunities created. One clear opportunity that we have capitalized on and we believe still has a further move higher is in the commodity markets in general, but especially in gold, gold miners, oil and natural gas. As stock markets around the world dropped over 50% during their recent decline some commodity sectors fell over 80%, which has provided some irrationally low price levels for us to take advantage of. We believe that these sectors will have longer lasting and higher percentage returns than the general equities market. It has become more apparent in recent years that emerging markets are no longer just a small sub-sector of the world economy. But, instead we believe that the emerging countries around the world like China, India, Brazil, Russia, some African and Middle Eastern countries along with other Asian and South American countries will be major drivers of the world economy. This could be the catalyst over the next couple of decades that could reign in new times of economic prosperity. Although we believe the next few years could be difficult looking forward we will be keeping an eye on the growth and increasing influence of the emerging and frontier economies.
If the market does start to get shaky late this year or sometime next year, we will attempt to rotate assets out of some equities and into certain assets that tend to go up when the general markets go down. Assets such as long-term Treasuries, extended duration U.S. debt and other hedging assets that traditionally do well in a “flight to safety” scenario. In times like these it is very important to be able to go defensive when the time calls and to go aggressive when the opportunities present themselves. Although it may seem like rough roads ahead we believe these type of extreme fear and greed driven markets present the best intermediate term opportunities if you are able to navigate the waters correctly.
Orlando, FL, June 25, 2009 - Starting July 1st, 2009, Schwab will waive commissions on electronic equity trades and reimburse transfer of account fees charged by contra brokers until June 30, 2010 if you are new-to-Schwab and Allgen Financial Services, Inc. You must open an account by the end of this year.
What does this mean for you?
Allgen custodies its clients’ accounts at Schwab Institutional. As we actively manage your investments, there will be no fees charged by Schwab for any trades conducted on your account for one year. This can mean significant savings for you. Depending on the size of the account and amount of trades, you could save thousands of dollars. In addition, you will be reimbursed any fees for moving your account to Allgen Financial Services, Inc. & Schwab from another institution. This makes it a great opportunity to consider moving your account over to us since this offer will most-likely only be available for a limited time.
If you would like to learn more about this offer, and/or consider moving your account over to Allgen Financial Services, Inc., please contact us today at: (407) 210-3888 or toll-free 1(888) 6ALLGEN (625-5436).
Few business owners or managers will cite payroll management as one of their favorite tasks. But, when does it make sense to outsource payroll operations? Here’s a quick look at the top reasons that businesses turn to payroll-services providers.
1. Cost. Big businesses can afford to maintain big payroll departments. For small businesses, however, an in-house payroll service is a money burner. There’s a very good chance you can save money by outsourcing your payroll operations. Figure out how many hours your employees are devoting to payroll-related activities and calculate how much you’re spending. Be sure to factor in the money your business spends on purchasing, printing and distributing checks, creating tax documents, and the like. Compare the amount to the plans offered by several payroll-services providers. You’ll probably be surprised by the result.
2. Productivity. Payroll management is a time-consuming activity. With this burden removed, your employees can focus on doing more productive things.
3. Accuracy. Payroll mistakes can be painful, angering employees and — more ominously — the government. A good payroll-services provider is far less likely to make a serious error than your in-house staff. Furthermore, if a big mistake is made, you can seek restitution from the provider — something you can’t do with your own employees.
4. Redundancy. In-house payroll activities are as reliabe as the people doing the work. With a payroll service, output speed and quality won’t vary when vacations or illnesses arise. You also won’t have to spend time helping new hires understand your business’s payroll system.
5. Speed. Since payroll-services providers are specialists with vast technical resources at their disposal, they can process even the most complex payrolls at lightning-fast speed. Unlike most employers, they can also accommodate a temporary influx of seasonal workers without acquiring new systems that will remain dormant the rest of the year.
6. Expertise. A good payroll-services provider will know all the ins and outs of payroll-related tax laws and regulatory mandates on the federal, state and local levels. Your employees could try to achieve the same level of understanding, but it would take a considerable investment in time and effort.
7. Accountability. If checks are delayed or paperwork is mishandled, it’s the payroll-services provider’s responsibility to fix things. If the provider can’t (or won’t) remedy the situation to your satisfaction, you have recourse. You can switch to another service provider in a snap. Try firing, hiring and training an in-house payroll staff in anything less than several weeks.
8. Flexibility. Boring, repetitive payroll work is like an anchor on your business. Your staff, when freed of rote payroll responsibilities, will be free to focus on other, more creative work.
9. Oversight. Do you have the time and energy to closely supervise your business’s payroll for time and rate abuses and other shady activities? Most payroll services firms have technologies that can spot and alert clients to various types of payroll fraud, such as salary manipulation and “ghost employees.”
10. Peace of Mind. There’s a lot to be said for the security that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles: You’re left to focus on running a profitable business.
Perhaps you, like many business owners, are ready to make a change to your current payroll process. If so, there are a number of variables to consider during your search for the right service. When you identify the needs of your organization today and in the foreseeable future, you should be able to decide upon a payroll provider which offers the capabilities to support your needs for years to come.
For more information about outsourcing your payroll process, please contact:
Debbie Sonntag
MasterPay USA
8879 West Colonial Dr., #154
Ocoee, FL 34761
(877) 374-1665
dsonntag@masterpayusa.com
www.masterpayusa.com
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