Blog   2013

Estate Planning: What will your legacy be?

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You don’t have to be a millionaire to set up an estate plan. Have you thought about passing down a family heirloom to one of your children? Maybe you’ve considered leaving money to a charity that benefits public arts funding. When you’ve spent your life acquiring assets and building wealth through hard work, it’s only natural to want some control over what happens to them after you’re gone. The best way do this is to have a sound estate plan.

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As you form your estate plan, keep in mind several key ideas.

  • Pick your heirs

    Whether you want to pay for your grandchildren’s college education or give a ring that’s been in your family for generations to your oldest daughter, decide who you want to provide for and how.

  • Provide direction

    If you have specific ideas about how you want your assets to be used when you’re gone, make sure that those ideas are clear in your estate plan. You may want to start a family foundation that supports children’s literacy or structure a trust that holds money you’ve left for your children until they reach a certain age. Whatever special objectives you have, clearly outline them in your estate plan to ensure they’re accomplished.

  • Protect your children

    If you have young children, it’s important to select a guardian to care for them and include this in your will. This may seem like an impossible task, but only you should decide who is best suited for the job. Be sure to talk to them about it before you put them in your will. Having a conversation with them ahead of time will prevent surprises and ensure they are up to the responsibility. Once they agree, make sure it’s documented. If you name a guardian in your will, the probate court will be more likely to honor your wishes. If you don’t list a guardian in your will, the court will select one without guidance.

  • Prevent legal hiccups

    Generally, assets owned by one person are subject to probate after they have passed. Probate is a name for the legal process conducted to determine the authenticity of a will and to distribute the assets of an estate. Probate involves legal costs and causes delays in the distribution process.

To avoid probate and minimize taxes on your assets, you can place part or all of them in a trust. One option is a “self declaration of trust,” where you are responsible for the assets while you are still alive (initial trustee) and a professional third party is responsible for distributing the assets after you are gone (successor trustee). Another option is to name the professional third-party as the trustee while you are still alive.

Many people tend to put off estate planning. But it is an important process for you to consider. It’s an opportunity to take control of future planning for yourself and your beneficiaries. It can be a difficult, but if successfully completed, this seemingly impossible task becomes an efficient and well-executed plan.

 

Content is for informational purposes only and should not be taken as legal advice.  Please consult an attorney for assistance related to estate plans and your particular situation.

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Tjaden serves as executive vice president and chief fiduciary officer. He is responsible for supervising all fiduciary activities and staff for UMB, including offices in Kansas City, St. Louis, Denver, Phoenix and Salina, as well as the Trust Company in South Dakota. Mr. Tjaden oversees Personal Trust, Custody, Foundations, Trust Legal and Business Support Services within the Private Wealth Management division. He joined UMB in 1977. Mr. Tjaden earned a bachelor’s degree in business administration and political science from Kansas State University. He also earned a Juris Doctor and a master’s in business administration from the University of Kansas. Additionally, Mr. Tjaden is a Certified Trust and Financial Advisor and a member of the Estate Planning Society, the Johnson County Bar Association and the Kansas Bar Association.



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A smooth road to retirement

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Are you ready to begin the next stage of your life? Retirement is still an option despite the current slow-growth economy. If you’re considering or approaching retirement, there are several items to keep in mind when nearing this important milestone. If you are planning to leave the working world in the next 18 to 24 months, here are a few considerations in the current economy:

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  • Understand your actual timeline.

    Your “time horizon” may be longer than you realize. Life expectancy is also a big factor. A retirement date is an initial benchmark, but you need to keep in mind that your money can still “work for you” while you are enjoying your newly discovered free time.

  • Make sure to have a cash reserve.

    You should build up a reserve large enough to carry you through six to 12 months of retirement expenses. This can provide a cushion in case of an unexpected downturn or a major unplanned expense.

As markets can vary year to year, those with more than two years until retirement can plan for either situation in the following ways:

  • Increase contributions.

    Invest extra cash. Consistent dollar-cost averaging can help reduce the worry of when and how much to invest. You may also want to direct some of those extra contributions into a cash reserve, just in case of unexpected declines.

  • Diversify, diversify, diversify.

    Don’t put all your eggs in one basket. Throughout market cycles, different classes, styles and assets with diverse market capitalizations perform differently. Actively managing your portfolio diversification can have a greater impact on performance than individual investments.

Most of all, flexibility and patience are virtues in the world of portfolio management.  Don’t fall in love with a retirement date, and don’t be frustrated with market activity. If you have questions or concerns, it may be advantageous to seek the advice of an experienced professional.

Professional advisors can offer objective, educated and customized guidance. They are also an objective and knowledgeable resource that can provide a valuable perspective. While an advisor may not be able to provide every person with the news they want to hear, a good financial advisor can help maximize and leverage the assets individuals have against their personal timelines, risk tolerance and goals.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Diederich serves as managing director of portfolio management. He is responsible for managing the portfolios of high net worth clients and select institutional relationships. He joined UMB in 2003. Mr. Diederich earned a Bachelor of Science in Finance from Missouri State University in Springfield, Mo., and a Master of Business Administration from the University of Missouri – Kansas City. He is a Certified Financial Planner®, a member of the Financial Planning Association and has more than 15 years of experience in the financial services industry.



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GDP Goes Hollywood

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Did you know that every five years the statistics that determine the Gross Domestic Product (GDP) are reviewed and modernized as the U.S. economy changes? The GDP is one of the main indicators used to measure the health of our economy, so this review is very important.

Earlier this month, the Bureau of Economic Analysis (BEA) conducted a comprehensive revision of the GDP statistics from 1929 through 2013. This time around, the revisions included changes to intangibles, including books, movies TV shows, music, photographs and even greeting cards. Specifically, “intellectual property products” (an idea for a movie franchise) were moved from expense to investment classifications. This includes research and development; entertainment, literary and artistic originals; and software. They will be considered fixed assets to account for their ongoing contributions, such as royalties authors receive for their book sales.

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Including specific works and ideas from the ever growing “knowledge economy” was done to fill a void because these intellectual property products had not been labeled as an asset until now. Check out this recent New York Times piece, Getting Creative with the GDP, to learn more about these recent additions to the GDP.

These changes are important in making sure the GDP calculation stays relevant and current.  Since the recent revisions created only a minimal statistical change to the GDP, the general consensus to date seems to be that the findings do not change the overall picture.

What it does change is the outlook on creativity and innovation. For example, research and development is often viewed by most companies as an expense and not an asset. It’s difficult to place a continuing value on it because sometimes it’s successful and sometimes it’s not. The goal is not to place a specific number value on each individual intangible. Instead this change in GDP reporting is a paradigm shift in how we view the overall value of imagination and the creative process.

 

UMB Investment Management is a division within UMB Bank, n.a. that manages active portfolios for employee benefit plans, endowments and foundations, fiduciary accounts and individuals. UMB Financial Services, Inc.*  is a wholly owned subsidiary of UMB Bank, n.a. UMB Bank, n.a., is an affiliate within the UMB Financial Corporation.

This content is provided for informational purposes only and contains no investment advice or recommendations to buy or sell any specific securities. Statements in this report are based on the opinions of UMB Investment Management and the information available at the time this report was published.

All opinions represent our judgments as of the date of this report and are subject to change at any time without notice. You should not use this report as a substitute for your own judgment, and you should consult professional advisors before making any tax, legal, financial planning or investment decisions. This report contains no investment recommendations and you should not interpret the statements in this report as investment, tax, legal, or financial planning advice. UMB Investment Management obtained information used in this report from third-party sources it believes to be reliable, but this information is not necessarily comprehensive and UMB Investment Management does not guarantee that it is accurate.

All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Neither UMB Investment Management nor its affiliates, directors, officers, employees or agents accepts any liability for any loss or damage arising out of your use of all or any part of this report.

“UMB” – Reg. U.S. Pat. & Tm. Off. Copyright © 2012. UMB Financial Corporation. All Rights Reserved.

*Investment Products Offered Through UMB Financial Services, Inc

Member FINRA, SIPC

NOT FDIC INSURED/ NO BANK GUARANTEE/ MAY LOSE VALUE

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


K.C. Mathews joined UMB in 2002. As executive vice president and chief investment officer, Mr. Mathews is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment, Asset Allocation and Trust Policy Committees. Mr. Mathews has more than 20 years of diverse experience in the investment industry. Prior to joining UMB, he served as vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. Mr. Mathews earned a bachelor’s degree from the University of Minnesota and a master’s degree in business administration from the University of Notre Dame. Mr. Mathews attended the ABA National Trust School at Northwestern University and is a Chartered Financial Analyst and member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.



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Wait a minute…who’s been sending emails from my account?

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Did you know every day thousands of webmail accounts (Gmail, Yahoo, AOL, etc.) are taken over by cyber criminals? Compromised webmail can be used to make purchases, transfer money from bank accounts or even trick friends and family into giving out information that allows access to their webmail – in a matter of minutes.

Take time to do a few simple things to ensure your webmail accounts are as secure as possible:

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Passwords

Weak passwords can be easily hacked and used to access your account.

  • Avoid using the same password on numerous accounts. This may make your email vulnerable if another site is compromised.
  • Change your password often.
  • Use strong passwords. For example, think of a special phrase and use the first letter of each word as your password. For more tips, visit OnGuardOnline.gov

Security Questions

Even a strong password can be compromised if security questions are easy to guess.

  • Make sure answers can’t be researched on social media sites.
  • Pick a question that only you know the answer to.
  • Choose the custom security question option if available.

Phishing Email

Phishing scams use a convincing message to trick you into clicking a link, downloading attachments or other “bait” that can be used to log your online activity, give a cyber criminal control of your computer or even direct you to a phony website where you’re asked to enter your username and password. All of these can be used to commit online crimes. To avoid phishing scams:

  • Look for misspellings or grammatical errors.
  • Question suspicious email; don’t click questionable links or download attachments that appear out of the ordinary, even if from a friend or company you’re familiar with.
  • If you aren’t sure, OnGuardOnline.gov provides help for identifying phishing scams.

Review Account(s)

The best protection against cyber crime is staying alert.

  • Check sent, trash, and other folders for suspicious incoming or outgoing mail.
  • Check advanced account options for changes you didn’t make. Your email may be forwarded to someone else and you didn’t even know it.
  • Investigate security options offered by your provider like notices for suspicious log-in attempts or two-step verification using a code that’s texted to your phone.
  • Regularly review financial accounts associated with your email address for suspicious activity.
  • Contact your bank and all other financial institutions immediately if you think your email has been compromised.

Don’t fall victim to cyber crime. Take time to secure your webmail accounts and encourage friends and family to do the same.


Ms. Flores serves as senior vice president and Chief Information Security Officer, providing oversight of UMB’s information security and privacy programs. She joined UMB in 2010 and more than 15 years of experience in information technology and information security. She attended Kansas State University with a focus on management information systems and is a Certified Information Security Manager (CISM), Certified Information Privacy Professional (CIPP/US) and Certified Information Systems Auditor (CISA).



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R. Crosby Kemper: Building a legacy through integrity and innovation

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R. Crosby Kemper discusses the legacy of integrity and innovation at UMB. He reflects on the company’s consistent strength and stability that comes from the idea of doing what is right instead of what is popular.

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For more of UMB’s history, take a look at “Our Stories” on umb.com.


UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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10 financial safety tips for vacation

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Most people think summer is the only time to take a vacation. But a lot of people take vacations in the fall and winter when flights and hotels are less expensive and tourist destinations aren’t as crowded.

A vacation is a great time for relaxation and spending time with family and friends. The last thing you want is to stress about fraud and have your vacation ruined because of a lost or stolen credit card. You can usually avoid this headache if you take a few extra steps when preparing for a trip or are more aware of your surroundings. Here are few tips to help prevent you from becoming a victim of fraud on vacation.

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  1. Protect cards as if they are cash. Do not leave them unattended anywhere, such as in a car, restaurant or even at the pool. If you are traveling, your cards should be with you at all times. Or you can put them in a secure location like a hotel safe.
  2. Never write down a personal identification number (PIN) – memorize it. Also, designate unique PINs for each card, and use random number, letter and symbol combinations when possible. Do not use easy to crack codes, such as a birth date, which could easily be found in your wallet.
  3. Don’t leave credit cards in your car’s glove compartment. An alarmingly high amount of all credit card thefts are from this area.
  4. Always check to make sure cards are returned when used at a store or restaurant. It’s easy to forget cards, especially when you’re on vacation. And it’s easy for servers or sales people to return the wrong card when they’re in a hurry.
  5. Don’t carelessly discard or leave documents that contain personal information in the open – including account numbers – such as car rental agreements or airline tickets.
  6. Do not give account numbers over the phone unless you have initiated the call. Most companies will only ask you to verify a portion of your personal information.
  7. Always take receipts and destroy any extra copies.
  8. If you travel overseas, let your card provider know about your plans to travel to a foreign country. There may be restrictions on using cards in some countries and a provider will be less likely to question the foreign transactions if prior notice is given.
  9. If you decide to shop online on vacation or need to update flight or hotel reservations online, be mindful of the websites you visit and what information you share. Always purchase from websites that start with https because this means it is a secure site. Also, be mindful when using public Wi-Fi networks. Internet connections that require a password are the safest. You don’t want that new eBook you ordered online costing you half your bank account.
  10. Most fraudulent use of cards takes place within a few days of their being lost or stolen. If your card is lost or stolen on vacation, immediately report it to the issuing bank or financial institution.

UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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The Calm after the Storm? Or the Eye of the Storm?

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Recently UMB Bank Chief Investment Officer KC Mathews and his team connected with clients to discuss some of the market’s most pressing issues. The Fed tapering, our interest rate forecast, the recent movements in the municipal bond market and an updated economic outlook were discussed.

Interested in what was discussed? Listen to the podcast here.

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UMB Investment Management is a division within UMB Bank, n.a. that manages active portfolios for employee benefit plans, endowments and foundations, fiduciary accounts and individuals. UMB Financial Services, Inc.*  is a wholly owned subsidiary of UMB Bank, n.a. UMB Bank, n.a., is an affiliate within the UMB Financial Corporation.

This content is provided for informational purposes only and contains no investment advice or recommendations to buy or sell any specific securities. Statements in this report are based on the opinions of UMB Investment Management and the information available at the time this report was published.

All opinions represent our judgments as of the date of this report and are subject to change at any time without notice. You should not use this report as a substitute for your own judgment, and you should consult professional advisors before making any tax, legal, financial planning or investment decisions. This report contains no investment recommendations and you should not interpret the statements in this report as investment, tax, legal, or financial planning advice. UMB Investment Management obtained information used in this report from third-party sources it believes to be reliable, but this information is not necessarily comprehensive and UMB Investment Management does not guarantee that it is accurate.

All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Neither UMB Investment Management nor its affiliates, directors, officers, employees or agents accepts any liability for any loss or damage arising out of your use of all or any part of this report.

“UMB” – Reg. U.S. Pat. & Tm. Off. Copyright © 2012. UMB Financial Corporation. All Rights Reserved.

*Investment Products Offered Through UMB Financial Services, Inc

Member FINRA, SIPC

NOT FDIC INSURED/ NO BANK GUARANTEE/ MAY LOSE VALUE


K.C. Mathews joined UMB in 2002. As executive vice president and chief investment officer, Mr. Mathews is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment, Asset Allocation and Trust Policy Committees. Mr. Mathews has more than 20 years of diverse experience in the investment industry. Prior to joining UMB, he served as vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. Mr. Mathews earned a bachelor’s degree from the University of Minnesota and a master’s degree in business administration from the University of Notre Dame. Mr. Mathews attended the ABA National Trust School at Northwestern University and is a Chartered Financial Analyst and member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.



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Internal fraud: Who they are and why they do it

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He looks like a typical associate. She could be a 20-something or a person in her fifties. He could be the person you eat lunch with every day. The truth is that you can’t pick out this person from the crowd. She is committing internal fraud in your company and doesn’t look any different from the rest of your co-workers. He makes sure he blends in.

So what should you look for if you suspect one of your associates is committing fraud?

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What to look for

  • A disgruntled associate who is vocal about their unhappiness with the company. They often use this as an excuse to commit fraud.
  • An overly enthusiastic associate who consistently ask questions about processes and procedures that will help them steal from the company.
  • A seemingly harmless associate with no apparent agenda. Their behavior won’t be as easy to spot as the first two. Having audits and checks/balances in place will likely help you catch them.

How they do it

These are not always tell-tale signs of fraud, but those who commit internal fraud are likely to:

  • Always be willing to take on additional tasks that could lead to fraud and have nothing to do with their current duties.
  • Learn as much as they can about company systems to use in conducting fraud. Systems can include but aren’t limited to: accounting, accounts payable/receivable, payroll, bank account access. They will look for weaknesses in policies or procedures.
  • Earn management’s trust with regard to the most vulnerable parts of the company.

Once they gather the necessary information and gain the trust of the company leaders, they will begin their plan. This could be creating “ghost” associates in payroll or diverting funds to a new account for a fake vendor. Sometimes it’s as simple as stealing money directly or even selling confidential company information on the internet.

Why they do it

The best example of why an associate will commit fraud is described by Dr. Donald Cressey as the Fraud Triangle Model, a tool for assessing the risk of fraud. Cressey was a criminologist who studied embezzlers.

Fraud Triangle

  • Pressure is often financial and usually stems from addiction, living beyond one’s means, major medical expenses, or gambling losses.
  • Rationalization is the explanation why the theft is not really wrong. Some associates tell themselves that it’s a loan and will be repaid. Others feel they are not paid enough and deserve more.
  • Opportunity is the opinion that a fraud can be committed without being caught. The thief sees poor internal controls, poor supervision, poor “tone at the top,” or a combination of these.

One of the best ways to avoid internal fraud is to set up regular, thorough audits and reviews of processes in your company. Stay tuned for an upcoming post that will go into more detail about how to catch internal fraud before it does serious damage to your business.


Dennis Knop is a vice president and external corporate fraud investigator of UMB Bank, n.a. He has worked for UMB for 20 years, and 14 years of that in fraud investigation. He has a Bachelor of Science in Criminology and Criminal Justice. Mr. Knop is a Certified Fraud Examiner and currently serves as the chairperson of the Midwest Financial Fraud Investigators Group in St. Louis, Mo.



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UMB expands into Dallas

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As we continue to grow our business, we have an exciting announcement. We are opening our first official office in Dallas, Texas! Zach Fee, UMB president of the Texas region sat down for a quick Q&A to talk about our plans.

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Why is UMB expanding to Dallas?

UMB has had clients in Texas for more than 30 years. Based on the opportunity for new growth, we felt like now was the right time to establish a permanent home and chose Dallas as our first site. Dallas is a great fit for UMB, because not only is it a top five commercial market that has strong economic activity, but its diverse business environment matches our own diverse offerings. Our new space in the Hall Arts building will put us in the center of the city’s activity and we are excited to be a part of this innovative community.

How long have you been on the ground?

I officially moved to Dallas from Kansas City with my family at the end of last year. We have six full-time associates right now and have plans to add a couple of new team members before the end of the year. We’ve been extremely humbled by the warm welcome we’ve received. The business community has welcomed us with open arms and we look forward to working closely with them.

What are the short- and long-term goals for the Dallas market?

First and foremost our focus is on building our team with local Dallas talent. The market is home to so many talented financial experts, we’ll have no trouble finding outstanding people that fit with our UMB culture. From a business perspective, we are focused on building our middle market commercial base and making an impact in the community through civic and philanthropic engagement.

We have been humbled by the Big Texas welcome we’ve received. Check out what folks are saying.

“Hall Arts lands UMB Bank’s first Texas lease” ‡ (Dallas Business Journal – July 18, 2013)

“UMB Bank Starts Texas Expansion” ‡ (Dallas Business Journal – July 12, 2013)

“UMB Financial Chase of Commercial Business Leads it to Big D” ‡ (SNL Financial – July 11, 2013)

“New Banks Continue to Enter Competitive Dallas-Fort Worth Market” ‡ (Dallas Morning News – July 9, 2013)

“Kansas City Icon Expanding in Dallas” ‡ (D CEO Magazine – July 9, 2013)

“UMB in Missouri Plans Texas Push: Report”  (American Banker – July 9, 2013)

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Fee serves as president of UMB’s Texas region and is responsible for designing and executing a strategy to establish UMB Bank in the Texas market, initially by way of Dallas. He joined UMB in 2002 and has also served as the community bank president of the UMB South Kansas City region. Fee earned Bachelor of Science with a major in Business Administration and Accounting from the University of Kansas in Lawrence, Kan.



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Easy Monetary Policy – “Morphine” for the Economy

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Quantitative easing. Low interest rate environment. Easy money. Kick the can down the road. We have all heard those phrases in recent years as the government continues its grand economic experiment in an effort to stimulate the economy.

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While the intention was to stimulate, I would argue that this continued easing has served as more of an “economic morphine” used to dull the pain of a slow-growth economic recovery desperately in need of surgery to repair years of unwise spending and unprecedented debt levels. This morphine has falsely propped up equity markets, pushed more risk into the system and created a lending environment where banks are throwing caution to the wind to create business. Though for many it feels like things are going well. That’s the morphine at work.

I recently talked with Reuters on the surge in commercial and industrial lending and the potential economic fallout. In the article, I emphasized the risks that some banks are taking as liquidity grows and the pressure and competition to make loans intensifies. With interest rates held historically low and liquidity high, many banks are willing to make riskier loans with little-to-no collateral, lax or reduced terms and collateral packages.

All this lending hasn’t led to economic expansion, but rather refinancing. The credit is simply moving from bank to bank. For those not refinancing existing debt, many are using these loans to replace equipment with near zero cost money.

At UMB, we continue to lend and believe in the strength of the private sector and the good of capitalism. We will continue to be prudent in our lending practices and maintain the necessary terms and standards for responsible lending. As a nation, we can no longer accept the morphine and avoid the reality of our economic situation. The time has come for surgery. This surely will be a painful process as rates normalize and necessary spending cuts are made. However, this is what is needed to ensure the long-term health of our economy and country.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mariner is the chairman and chief executive officer of UMB Financial Corporation and UMB Bank, n.a. He joined UMB in 1997. Mr. Kemper is active in both civic and philanthropic endeavors. One of the causes he is most passionate about is the arts. He currently serves as a trustee and executive committee member for the Denver Art Museum and is a past board member for The Arts Council of Metropolitan Kansas City.



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