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May 8, 2009
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Association Investment Advice
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After you finish reading below about the cool stuff people learned—for free—at Argy, Wiltse & Robinson’s seminar last week, and you kick yourself for not attending, guess what! They have the same seminar available for you this coming Wednesday, May 13. It’s at their offices on Greensboro Drive in Tysons, over breakfast. Register with Helena Kennedy: hkennedy@argy.com or 703.770.6388.
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The Wild West that is the stock market might lead you to diversify your association’s portfolio with alternate investments. Refresher: those are privately traded offerings like hedge funds, real estate, and offshore fund vehicles. We won’t tell you what to buy (as if we know), but a Wednesday breakfast at the City Club at Columbia Square (above Metro Center) gave us a chance to learn how to manage them better.
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Argy’s Kellye Jennings kicked things off with tips on what to ask before you invest: Is the fund manager qualified? What’s the nature of the fund’s liquidity? Can you get the money out when you need it? i.e, are there early redemption charges, side pockets, holdbacks, lockups, stick-em-ups, ring dings, corner throttle radicchio? (OK, we made those last three up, but it’s still complicated stuff.) Kellye says the investment is more than money. It’s requires time to monitor your portfolio since the SEC does not require alternates to file regularly. There are other risks, including that some insist on additional investments years down the road, or else you could become diluted by others.
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Community Foundation’s Mark Hansen, Argy’s Jeff Schragg, American Pharmacists Association CFO Roger Browning, Interior Department’s Bert Edwards, and Kellye. Roger tells us APA has just relocated back to its old HQ at 23rd and Constitution, the only privately owned building on the National Mall, with a newly added LEED-Gold office. This weekend, you can find Jeff at the Heart’s Delight Wine Tasting and Auction, benefiting the American Heart Association. He’s on the auction committee. (Your publisher chaired this event several years ago and herewith attests that it is one of the finest wine events you can find anywhere.)
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Networking events are useless if you can’t remember whom you met. Not everyone has a face that haunts you forever. We chatted with a solutions man, Chris Hopkinson, biz dev whiz at DubMeNow, a company which puts the power to remember in your mobile phone. It facilitates the transfer of digital business cards (for any mobile phone, though it’s most powerful for iPhone, Android, Windows Mobile, and Blackberry), and from that point forward, anytime somebody updates their info, your contact list gets updated. He tells us several associations are including DubMeNow sign-ups on their trade show attendee registration sites. Above, the Dub development team: Chris in blue, along with Erin, Scott, Gus, Stephen, Aaron, Buck, Jay and Anuruag.
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Chris commutes from Annapolis to Tysons everyday; in case we didn’t believe him, he even documented it on his iPhone. Perhaps Dub’s most useful feature is that it works across on all devices. Rather than an association diverting resources to design a program that works on every service, Dub’s platform takes care of that. Chris tells us it provides value for members and gives the association a great tool to connect with members. (It’s a quick way to build a contact list.) Next up: using the service to push out news alerts (about the association) to interested members.
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This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. © 2009, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW, Washington, DC 20036. All rights reserved.
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