Grow Your Business...Secure Your Spot Today!

Wells Thomas, LLC is pleased to announce our latest informational meeting for investment professionals working with Retirement Plans. Below is a copy of the invitation (click on the image to see full scale). If you are interested in attending, please contact Wells Thomas at seant@wellsthomas.com or Justin Terman of Meeder Financial at justint@meederfinancial.com.

We look forward to seeing you on September 30!

CLIENT OF THE MONTH

We are beginning a new feature: Client of the Month. Each month we will draw attention to a client who has a unique story. To kick this off, we are pleased to highlight Reynolds’ Garage & Marine Inc. of Lyme CT.

Reynolds’ Garage & Marine Inc. has recently celebrated their 150th year in business. Some of the highlights in the history of the business include:

• 1859 - Ephraim Otis Reynolds starts the business where he built two- and four-seat carriages
• 1890 - Wagon production ends as Studebaker beings its assembly line production. Ephraim enters the repair business
• 1909- Ephraim sells the business to son Hayden
• 1919 - Donald Grant (son of Hayden) begins repairing automobiles, including Studebakers and Model T Fords
• 1932 - the docks and dredging for the marina took place
• 1942 - Leland purchased the business from Donald
• 1977 - Gary purchased the business from Leland
• 1991 - Subaru franchise acquired
• 2009 - On April 9 Governor M. Jodi Rell officially declared "Reynolds Garage & Marine Day"
• Currently - Business also sells and services: Yamaha Outboards, Cobia, Skeeter and G3 Boats. The dealership employs all three of Gary’s children who are the sixth generation: Leland Thomas, G. Hayden Jr., and Kathryn. (“The History of Reynolds’ Garage and Marine”, Kathryn Reynolds Wayland)

We encourage you to visit their website at http://www.reynolds1859.com/ for more information on the unique history of a sixth-generation run family business, as well as the services and products they offer.

Wells Thomas, LLC is a proud sponsor of the Branford Jazz Series

Wells Thomas, LLC is pleased to be a sponsor of the 2009 Branford Jazz Series. Every Thursday night, from July 9th through August 20th a different jazz artist will be featured in a FREE concert on the Green in Branford.

Click on the title above to be taken to the official website for more information, a complete schedule, directions and parking.

Come on out and catch some great live music and enjoy the shops and award-winning restaurants in Branford..We look forward to seeing you there!

Connecticut Bill On Retirement Plans - Update

An April 15, 2009 the CT Appropriations Committee voted 30 - 24 in FAVOR of SB No. 1. Below is the language as passed by the committee.

AN ACT CONCERNING ECONOMIC SECURITY FOR CONNECTICUT FAMILIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage) (a) As used in this section, "small employer" means a business with one hundred or fewer employees.
(b) The Comptroller shall establish a tax-qualified defined contribution retirement program to provide retirement investment plans, including, but not limited to, those created under Section 401 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended, to self-employed individuals, small employers and organizations qualifying as tax-exempt pursuant to Section 501(c)(3) of said Internal Revenue Code. In administering such plan, the Comptroller shall seek to minimize costs by helping small employers, such organizations and individuals purchase retirement savings plans, arrangements and investments through economies of scale, standardization and other measures.
(c) In carrying out the provisions of this section, the Comptroller shall contract with a third-party administrator for the management of such plan or plans and shall recover from program assets expenses incurred to initiate, operate and administer the program established pursuant to subsection (a) of this section.

Wells Thomas, LLC opposes this bill.

Click on the title of this article to be taken to the CT Government Website to track this bill.

Sometimes you just can't make this stuff up

Well I don't know WHY I am surprised...our local government does not seem to be in the mind-set of HELPING businesses in this state it seems. So it really should be of no surprise that, once again, a bill is being proposed for the State-Sponsored 401(k) Plan for small companies.

But wait...didn't this issue JUST come up last month?! And didn't the Commerce Committee agree it should not be pursued?

Absolutely.

This time it is being reintroduced by Senate President Pro Tempore Donald E. Williams as SB No 1, labeled fashionably: AN ACT CONCERNING ECONOMIC SECURITY FOR CONNECTICUT FAMILIES.

So...once again our fine state wants to compete with local industry. And as the financial industry is a large part of the state, what this bill is saying to others is: "Hey, the Connecticut Government doesn't have any faith in the services the institutional providers in our state offer, and we think we can do it better ourselves." Great way to instill confidence in others, don't you think?! Let's tell the rest of the country that one of our largest exports in Connecticut, the financial services industry, doesn't even have the SUPPORT of the state legislature! Great idea...

If you want to follow the latest status of the bill, click on the title of this article...it will take you to the state's site...

Bill Likely Going Nowhere

Good news! It looks like the CT Commerce Committee will NOT be voting in favor of CT SB No 971, An Act Concerning Small Company Retirement Plans. Upon further review the Committee chairs have stated that this route is not an appropriate one to take. They have asked Brian Graff of ASPPA for guidance in other alternatives, including auto-enroll IRAs.

Maybe the BEST 20 minutes in recent TV History! (or: Creamer vs. Cramer)

I've been a fan of Jon Stewart since his show on MTV in the early 90s. This past week he and Jim Cramer have been feuding publicly, and to the delight of many of us, last night Jon had Cramer on his show, "The Daily Show With Jon Stewart", and held no punches. For those of you who missed it, here are the unedited segments for your enjoyment...

Part 1 - Intro

The Daily Show With Jon StewartM - Th 11p / 10c

Intro - Brawl Street: Get Read to Buy Low! And Sell Die

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

Part 2 - The interview begins

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Interview Outtake Pt. 1

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

Part 3 - The interview continues

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Interview Outtake Pt. 2

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

Part 4 - The conclusion

The Daily Show With Jon StewartM - Th 11p / 10c

Jim Cramer Interview Outtake Pt. 3

Daily Show Full Episodes
Important Things w/ Demetri Martin

Political Humor
Jim Cramer

One of the things I love about this is that Jon says, right to Cramer's face, what many of us have been thinking and wondering. And I think these clips speak volumes. All I can say is, "Jon, you're my hero..."