Pub. 9 2020 Issue 6

Pub. 9 2020 Issue 6 15 2020 KBA Trust Conference Recap T he 2020 KBA Trust Conference had its first- ever virtual conference. This year’s program once again had a phenomenal speaker line-up over the course of two mornings. We also had several of our valued sponsors join in on making this a very successful virtual experience. Attendees were welcomed by KBA Trust Division President Joe Karnes and KBA Chairman Jonathon Johnson. The conference opened with Dr. Larry Divers, executive vice president of Cannon Financial Institute. Larry brought a comprehensive knowledge of investments, retirement plans and wealth management into his session. He guided the attendees on how to implement and monitor the provisions of the CARES Act and Secure Act as well as the IRS Notice 2020-50 and the new required minimum distribution rules under IRS Notice 2020-51. Patrick Smith, vice president with J.P. Morgan Asset Management, then introduced Dr. David Kelly, chief global strategist and head of the Global Markets Insights Strategy Team. Dr. Kelly shed light on our current investment outlook and the opportunities we are seeing across the global markets. He also shared his perspectives on key topics from economic growth, employment, COVID-19, consumer confidence, the implication of monetary and fiscal stimulus and more. The closing speaker for the first morning was Jeff Bottenberg, vice president and trust officer at BOK Financial. Jeff discussed the statutory ethical duties that trust officers must follow when administering trusts and fiduciary accounts. He also discussed the Kansas Rules for Professional Conduct that apply to attorneys who serve as fiduciaries. These rules were further explained and clarified by case law. Kicking off the second morning of the KBA Trust Conference was Jack Liekar, Vice President and Senior Regional Consultant with Federated Hermes, our Platinum Sponsor. He introduced the opening speaker for the morning, Linda Duessel, Senior Equity Strategist with Federated Hermes. Linda discussed the unprecedented global response by fiscal and monetary authorities. She also talked about the economy and what to expect for jobs and consumers and the market and what investors can expect. The market structure and its effect on trading and stocks and a look at regions and styles of investing were also included in her presentation. In conclusion, Linda went over what happens when the dust settles regarding the election, social distancing and the good and bad news for long-term investors. Our closing keynote this year was our good friend, Rocky Miskelly, President of Renasant Wealth Management and senior trust officer for Renasant Bank. Rocky gave some great advice and tools on how to continue selling during a pandemic. Communication is key, and thinking outside the box is also important. Be sure to always add value in some way, shape or form and continue to have conversations that are meaningful. If possible, invest in technology, so the opportunity for e-signatures are available. Don’t be afraid to host client appreciation events as well. Rocky’s message was very encouraging in these uncertain times. The conference adjourned.