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September 2013 is National Library Card Sign-Up Month, as designated by the American Library Association. Public libraries and the endless array of resources they offer to library cardholders add tremendous value to their communities. A library card acts like a ticket to a world of literature, research, technology tools, meeting and study space, live entertainment, the fine arts, and much more.

To celebrate, the library has partnered with eighteen Barrington Area businesses - wow! - for a fun campaign that adds even more value to your library card. From September 1 - 30, 2013, displaying a Barrington Area Library card at one of these participating businesses will mean big savings. To get the details on these amazing offers, download the flyer (PDF) or stop in and pick up a copy at our public service desks (available September 1, 2013). Thank you to the Village of Barrington and the Barrington Area Chamber of Commerce for their support of this year's National Library Card Sign-Up Month local business partnership!

Participating businesses include:

Accelerated Rehabilitation Center
Barrington Martial Arts
Bear Family Restaurants/Barrington McDonald's
BlueCherry Frozen Yogurt
Bravura Home & Gift Shop
Fancy Art, *NFP
Felde Chiropractic
Frantonio's Italian Cafe & Catering
Hair By Justyna Salon
Huntington Learning Center
JMK Simple Solutions, LLC
Nature's Select Super Premium Pet Products
Nieminski Robbins & Associates, CPA
Norton's U.S.A.
Signarama of Barrington
Sol Food Natural Soaps
SOLISQ - accessories by Gina Ahn
TCF Bank

Don't have a card? Stop in and register - it only takes a few minutes! The card is your passport to savings year-round, because once September has passed, you can still use it for free books, DVDs, e-books, audiobooks, song downloads, and so much more. Wondering if your old card is still valid? "Barrington Area Library cards might be black, green, blue or even yellow! As long as your information with us is current, your library card remains valid with us and with our local business partners," states Karen McBride, Head of Public Information at the library. Not sure if your card is up-to-date? Come on over and we'll be happy to help. Offer applies to Barrington Area Library cards only.

Please patronize and thank our business partners! Shopping locally really makes a difference in the community.

Felde Chiropractic

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August 30, 2013 - Some interesting facts and figures about the state of the economy in Illinois, from a presentation on 8/23/2013 at Harper College by Dan Seals, Assistant Director of the Illinois Department of Commerce and Economic Opportunity. Click here to download.

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August 30, 2013 - If you were unable to attend Wednesday evening's SCORE presentation on business plans, here is a recording of the presentation along with a PDF of the slides for download:

Click here to download the presentation slides.

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August 13, 2013 - Meet the friendly staff of Accelerated Rehabilitation Centers in Barrington, near the center of town at 455 W Northwest Highway. Contact them for sports medicine needs, injury treatment, and a wide range of other therapy: 847.381.0372.

Accelerated "puts patients first" - to learn more, check out their new profile video!

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July 23, 2013 - Small business owners & employees: make sure you are aware of upcoming Affordable Care Act dates & deadlines. Find information here:

From the Small Business Administration -
The Affordable Care Act: Dates Every Small Business Owner Should Know
Affordable Care Act 101: Weekly Webinar Series
(Free webinars from the SBA for small business owners covering federal and state provisions including small business tax credits, marketplace updates, shared responsibility, cost containment, legal tools and resources for small business owners.)

Small Business information from Get the details about the Small Business Health Options Program (SHOP), which starts October 1, 2013.

Information about tax provisions of the Affordable Care Act for individuals and employers from the IRS.

Affordable Care Act Regulations and Guidelines from the US Department of Labor.

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Most people don't go past the first page of Google search results. In fact if you're not in the top three, chances are your Web site will not be found and you missed out on FREE advertising. Learn the facts and secrets top internet marketers use to dominate page one of search engines. Leverage these lessons into attracting qualified prospects and sales without pay-per-click advertising. Register for this free workshop at the Barrington Village Hall here. Co-sponsored with SCORE Chicago.

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July 3, 2013 - Etsy is an online marketplace where you can have fun and make money while indulging a passion for arts, drafts, vintage finds, fashion, and more. See how to set up a business on Etsy, then showcase your treasures, start a viral sensation, build a customer base, and turn a hobby into an enterprise. View a number of successful Etsy businesses and learn their recipe for success. Barrington Village Hall. Free workshop, please register here.


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July 3, 2013 - If you missed the June 26 SCORE session "8 Steps - 90 Days To A Stream of New and Repeat Business" featuring Sasha Berson of Berson Business Development Company, you can view a recording of the presentation:

Don't miss any upcoming business programs - sign up for email announcements here. And get the whole range of library programs and events by subscribing to our quarterly newsletter here.

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Our next guest blogger is Karen Chan, owner of Karen Chan Financial Education & Consulting, LLC and a featured presenter at our recent series of financial literacy programs as part of MoneySmart week. We asked Karen what consumers should look for when evaluating financial advisors. She gave us the following guidelines:

If I hire a plumber to install a garbage disposal, I can pretty quickly judge whether the plumber did a good job: Did it leak? Does the garbage disposal work? Did he damage anything else during the installation? Did he clean up and leave my kitchen in good order? Within a few days, I will probably know whether he did an acceptable job.

With financial services, it is usually much harder to evaluate the quality of the services you receive. Inappropriate investment recommendations may not be become apparent until years down the road. Even fraudulent investments may not be discovered until much time has passed, as was the case with Bernie Madoff.

Because it is hard to evaluate the quality of financial services, it is especially important to select your investment professional carefully. Unfortunately, this provides challenges, too.

The first issue is that, in the United States, we have lots of different labels for financial advisors. Some titles have clearly defined meanings, but many do not. For example, the term financial planner implies what the person does. But the term is not legally defined. As a result, insurance and annuity salespeople, brokers, investment advisors, and probably others all call themselves financial planners. But their qualifications, the services they provide, and products they sell or recommend can vary widely.

Two terms regarding investment professionals are defined by law: registered representative (which is the technically accurate term for a broker) and registered investment advisor. A registered representative has passed certain examinations and is licensed to sell certain investment products, determined by the examinations he has passed. The stereotypical idea of a stock broker is the person that you call when you want to sell your shares of IBM, or who calls you with a recommendation of a stock for you to buy.

A registered investment advisor is registered either with the state or with the Securities and Exchange Commission, and is authorized to provide investment advice. Historically, the investment advisor was the person who determined things like how much of your portfolio should be invested in stocks or bonds and other investment management decisions, while the broker executed the buy and sell orders to implement your plan. That distinction has become muddied over the years, and today many investors don’t know whether they’re working with a broker or an investment advisor. The two professions are held to a different standard of care in the services they provide. A broker must recommend investments that are suitable, but it is perfectly legal for him to take his own compensation and incentives into consideration when deciding which mutual fund or other investment to recommend. A registered investment advisor, on the other hand, is held to a fiduciary standard and must recommend only what is in the best interests of the client. That is a significantly higher standard than the suitability standard for brokers.

Today, some investment professionals are licensed both as brokers and as registered investment advisors. This makes it harder for the consumer to understand the nature of the relationship, and what standard the investment professional is following at any given time.

The issue of compensation adds another layer of confusion. The two general ways that an investment professional is compensated are commission and fees. Most people understand the concept of commissions: if you buy a product, the salesperson receives a percentage of the price you pay as his commission. Fees are also pretty easy to understand: if I hire this person to provide a certain service, I will pay a fee for that service. It might be hourly, or it could be a flat fee for the task. Think of how you hire a housepainter: you might pay by the hour or by the job. In either case, you’re paying a fee for the service.

Two similar-sounding terms describe dissimilar models of compensation. Fee-only advisors are compensated only by fees paid by you, the customer; they receive no commission and no consideration from any company whose products you purchase. Fee-based advisors, on the other hand, may charge a fee for their services, but they may also charge commissions or receive incentives or consideration from the company whose products they sell. The challenge for the consumer is not only to understand how the investment professional is paid, but also to understand any conflicts of interest that are introduced by the form of compensation. It is because of the potential for conflicts of interest due to how the person is compensated that much of the financial press suggests looking for a fee-only advisor. The SEC provides an excellent set of questions to ask your financial professional about how he is compensated (see the last page of the Investor Bulletin).

Another factor in evaluating a financial professional is education and training that is relevant to the services they provide. There are a multitude of designations used by financial professionals. Some require significant training and passing of stringent examinations; others merely indicate that the person paid a fee or participated in a short training. For financial planners, which includes many investment advisors, the Certified Financial Planner™ (CFP®) designation is one to look for. It requires five college-level courses and passing a two-day exam (which about 35% percent of people fail), and a few years of experience. The Chartered Financial Consultant (ChFC) designation from The American College and the Personal Financial Specialist (PFS) for CPAs indicate comparable levels of expertise, but with different focus: insurance for the ChFC and taxes for the PFS. All three of these designations required continuing education to retain the designation, and the designation can be revoked if the financial professional violates the ethics or other requirements for the designation.

In my previous work with University of Illinois Extension, a colleague and I developed Choosing a Financial Professional, a website designed to help investors understand these issues. It includes an interview guide to help investors evaluate and select a financial advisor. Trusting someone to make decisions about your money is an important decision. It’s worth taking the time to make an informed and thoughtful choice.


Karen Chan has been educating the public about financial topics for twenty years, first as a Consumer Economics educator with University of Illinois Extension and now through her own business, Karen Chan Financial Education & Consulting, LLC. She holds the Certified Financial Planner™ designation. She uses that training to teach rather than practicing as a financial planner. She presents on a wide range of financial topics, from basic money management to technical subjects such as strategies for maximizing Social Security benefits. Her goal is to make even complicated subjects easy to understand so that her workshop participants can make wiser decisions with their money.

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Are you using Facebook to grow your business? Want to reach out and build an online community for your non-profit or small business? Rachel Bloomberg tells you want to post, how to attract fans, and common pitfalls to avoid. Bring your laptop for hands-on, practical learning you can immediately apply. Barrington Village Hall. Register.

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