Is a Second Home the Right Move?

By Scott Ractliffe, Senior Vice President and Mortgage Advisor, Pinnacle Financial Partners

While rising interest rates have been slowing home buying in general, the market for buying second homes is growing.

More properties on the market, relatively low interest rates and motivated sellers have combined to create an attractive market for those considering a second home.

Middle-class families, especially baby boomers, are increasingly buying second homes to use as vacation retreats or in hopes of benefiting from the appreciation of the property. Click here for what you need to know before you consider purchasing another house.

You can reach Scott at (615) 743-6006 or by e-mail at scott.ractliffe@pnfp.com.

New Tennessee Law Combats Identity Theft

The Credit Security Act of 2007, signed into law by Gov. Phil Bredesen last month, is being hailed by consumer groups as a major step toward combating identity theft.

A cornerstone of AARP's Tennessee legislative agenda, it gives Tennesseans three major protections:

• Allows people the opportunity to "freeze" credit reports to prevent identity thieves from obtaining credit in the person’s name
• Protects individual Social Security numbers by requiring state business and governmental entities to make "reasonable efforts" to prevent disclosure
• Educates the public about the risks and informs them about steps they can take to protect themselves

As many as 9 million Americans have their identities stolen each year, according to the Federal Trade Commission. Especially vulnerable are the elderly.

For more info, visit www.legislature.state.tn.us and click on "Legislation." The bill's number is SB 161.

Is there a way to manage my online financial accounts without having to have separate logins and passwords for each one?

Aggregated services for managing multiple online accounts are becoming more readily available. At Pinnacle, our online banking clients can get a snapshot view of all of their financial information from one secure website through The Finance Center in our online banking service.

Using a single login, clients can access information from over 8,000 online accounts that cover banking and investment accounts, reward programs for credit cards, hotels, airlines, etc., and news.

Almost 250 Pinnacle clients have signed up to use this easy-to-set-up and convenient tool since it was introduced last month. Enabling the service is simple. Simply click on the finance center tab within online banking and questions will guide you through the quick registration process.

Pinnacle Rings NASDAQ Opening Bell

L to R: Rob and Jennie McCabe and Debbie and Terry Turner with NASDAQ representatives Jeff Singer and Maria Perez

Pinnacle President and CEO Terry Turner presided over NASDAQ’s opening bell on June 25 to commemorate the fifth anniversary of Pinnacle’s initial listing on NASDAQ.

Pinnacle is listed on the NASDAQ Global Select Market, which has the highest listing standards of any market in the world as measured by financial and liquidity requirements. Since first being listed on NASDAQ, Pinnacle's stock price has increased 440 percent. Of all of the exchange-traded banks in the U.S., Pinnacle ranks third in five-year return and five-year CAGR (5-year return is 411.3 percent; 5-year CAGR is 38.6 percent).

New Faces at Pinnacle

Rachel West brings 31 years of human resources experience to her role of chief people officer. She replaces Martha Olsen, who recently announced her retirement.

Rachel comes to Pinnacle from Southeast Georgia Health System, where she has served as vice president of human resources. Previously she served as assistant vice president of human resources at Baptist Hospital in Nashville for 10 years before assuming leadership of the department in 1999.

Pinnacle also welcomes five additional associates who bring 122 years of combined experience to Pinnacle:
Brenda Crossland, 29 years experience, Treasury Management operations
Kathy Duncan, 19 years experience, financial advisor
Dolorous Lane, 22 years experience, financial advisor assistant
Judy Pruitt, 32 years experience, client services specialist
Scott Ractliffe, 20 years experience, mortgage advisor

UT's President at Next Forum

Dr. John Petersen will speak at Pinnacle’s next Forum on Thursday, July 12 at the Vanderbilt Marriott.

The university's 23rd president has led the development of a new strategic plan for UT, raised record research and private giving dollars and enhanced relationships with the state government.

Registration and breakfast begins at 7 a.m.; the program begins at 7:30 and will conclude by 9 a.m. Seating is limited. Please RSVP to Brenda Cameron at 744-3773 or via e-mail at LearningCenter@pnfp.com.

Upcoming Workshops

Health Savings Accounts and Consumer Driven Healthcare
with Larry Whisenant of Pinnacle's Medical Specialty area, and Karl Welch, Bobby Mason and Susan McIndoo of Miller & Loughry Insurance and Services, Inc.

Pinnacle Donelson
Thursday, July 19, 11:30 a.m. - 12:30 p.m. (workshop and box lunch)

RSVP or questions: Summer Yeiser at 690-1207 or via e-mail at summer.yeiser@pnfp.com, or Mary Smith at 743-6010 or via e-mail at mary.smith@pnfp.com

Investment Policy Guidelines for the Non-Profit Board
with Scott McPherson*, CTFA, Investment Consultant for Pinnacle Asset Management and Raymond James Financial Services, Inc.

Pinnacle Hendersonville
Tuesday, July 24, 11:30 a.m. - 12:30 p.m. (workshop and box lunch)

RSVP or questions: Summer Yeiser at 620-1207 or via e-mail at summer.yeiser@pnfp.com

* Securities and investment advisory services offered through Raymond James Financial Services Inc. Member NASD/SIPC - Not FDIC Insured - Not guaranteed by Pinnacle National Bank - Subject to risk and may lose value

Ordinary and Extraordinary Estate Planning
Effective Strategies for Small, Medium and Large Estates
Teleconference featuring nationally renowned estate planner Roy M. Adams and his guest, estate planning attorney and CPA, Ann Burns. The program is approved for professional education credits* for attorneys, CPAs, CFPs and CTFAs.

Pinnacle Downtown Nashville
Tuesday, August 14, 12:00 - 1:30 p.m. (teleconference and box lunch)

Seating is limited. RSVP or questions: Summer Yeiser at 620-1207 or via e-mail at summer.yeiser@pnfp.com

*1.5 credits for attorneys, CPAs, CFPs, and 2 credits for CTFAs