Falling Mortgage Rates Boost Refinancing
By Ross Kinney, Manager, Pinnacle Mortgage Group
Mortgage rates around the country fell earlier this month, with rates on 30-year mortgages dipping to the second-lowest level of the year. If you are among the large pool of homeowners who have adjustable rate mortgages or interest only loans, now might be a good time to think about refinancing.
Click here for more.
You can reach Ross at (615) 744-3781 or by e-mail at ross.kinney@pnfp.com.
Senate Small Biz Chair Focuses on Affordable
Health Care
Despite all the reshuffling in Congress, Massachusetts Sen. John Kerry has retained the top spot on the Senate Committee on Small Business and Entrepreneurship. At the top of his agenda: a bipartisan solution that would allow for more affordable coverage for the 27 million uninsured Americans who work for small businesses and create more oversight of the government's contracting procedures to ensure that small business contracts actually go to small business.
Click here to read more.
Only about 17 percent of area employers plan to add jobs during the first quarter of 2007, according to a recent poll by temporary staffing agency Manpower Inc.
This represents a more than double-digit drop from the 37 percent of employers that planned to add jobs between January and March 2006.
Click here for the full report from Manpower.
How do I protect against "vishing"?
The FDIC is warning about a new security threat: "vishing," which stands for "voice phishing."
Most vishing scams come in the form of an e-mail supposedly from a financial institution or government agency asking you to call a phone number to provide account and other "needed" information using your phone's keypad. Crooks use the info you entered into the automated response system to gain unauthorized access to bank accounts or commit identity theft.
The lesson: Never call phone numbers provided in unsolicited e-mails asking for personal information. Use only the phone number provided in your monthly statements or on the back of your credit or debit card to contact your financial institution.
Enhanced Online Banking Services Coming Soon
Earlier this year, Pinnacle sent a survey to online banking clients asking them to rate their online banking experience. While clients generally rated online banking as satisfactory, we noticed areas where our service needs improvement. Consistent with our desire to be the best financial services firm in the market, we want to provide an online banking service that is more than satisfactory.
We held focus groups in September, and used client and associate feedback in selecting a new online banking partner. We will be implementing a new system in Spring 2007 to bring clients enhancements such as:
- A full two years of account history
- User-friendly navigation with a functional back button
- The ability to categorize and edit transactions
- Check images will include front and back on one screen
- New Quicken Direct Connect functionality
In upcoming months, you will see more communication concerning online banking and the anticipated changes. We are devoting significant resources to provide support and ensure a smooth transition to the new system.
Pinnacle Advisory Services Sees Slowing National
Economy
Pinnacle Advisory Services, the firm’s registered investment advisor, is witnessing a dramatic slowing in the U.S. economy, but a recession in 2007 is not likely.
Click here for more on Pinnacle's latest investment outlook.
Pinnacle Associates at Work in the Community
McCabe Chairs Downtown Partnership
Pinnacle Chairman Rob McCabe has been named chairman of Nashville Downtown Partnership for 2007. The Nashville Downtown Partnership is a non-profit management organization dedicated to managing and developing downtown Nashville as a clean, friendly and vibrant urban area.
Building Industry Honors Reese Smith
Pinnacle board member Reese Smith is the newest member of the Building Industry Hall of Fame. The award recognizes his significant and lasting contribution to housing in Tennessee, the building industry and the Home Builders Association of Tennessee.
Hall, Powell and Plummer Join Board of Patricia Hart Society
Three Pinnacle associates were recently named to the 2007 executive board of the Patricia Hart Society, the women's initiative of the United Way of Williamson County.
Mary Hall will serve as chair-elect. Tyane Powell and Cheryl Plummer will serve as membership co-chairs.
| Mary Hall | Tyane Powell | Cheryl Plummer |
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Charlotte Csabi joins Pinnacle's trust services group, where she will serve clients in both the Nashville and Murfreesboro markets and oversee compliance for Pinnacle's entire trust operations. Charlotte, whose experience spans 35 years, comes from SunTrust Bank, where she served as a senior trust advisor.
Scott McCormick brings more than 25 years of banking experience to his role as financial advisor at Pinnacle's West College St. location in Murfreesboro. Scott comes from Regions Bank in Murfreesboro, where he served as area executive.
Scott McPherson is an investment consultant for Pinnacle Asset Management and Raymond James Financial Services, Inc. Scott has 12 years of experience in investment management, estate planning and trust management. He was most recently with AmSouth Investment Services.
Deanna Tompkins, with more than 12 years of experience, joins the firm as office manager of Pinnacle's Memorial Blvd. office in Murfreesboro. Deanna replaces Becky Jeffreys who recently moved to Pinnacle's College St. location.
| Charlotte Csabi | Scott McCormick | Scott McPherson | Deanna Tompkins |
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Pinnacle also welcomes five additional associates:
Donna Bates, 29 years experience, chief security officer
Christi Carter, 10 years experience, buyer for purchasing area
Mardi Grim, 40 years experience, client service information manager
Shannon Horn, 10 years experience, financial advisor assistant
LeeAnne Lee, 23 years experience, legal specialist
To Roth or Not to Roth - That's the 401k Question
with Rachael Qualls, investment consultant for Pinnacle Asset Management and Raymond James Financial Services, Inc.
Pinnacle Hendersonville
Thursday, January 25, 11:30 a.m. - 12:30 p.m. (workshop and box lunch)
RSVP or questions: Mary Hall at 690-4061 or via e-mail at mary.hall@pnfp.com
This workshop is particularly applicable to:
- Young workers who anticipate being in a higher tax bracket when they reach retirement
- High-income individuals who are ineligible to contribute to a Roth IRA
- Parents or grandparents who wish to utilize tax-free distributions for college or estate planning purposes
