Sep 16 2008
Financial Institutions See Rise In Planning With Exxon Partial Payment Near
Tuesday, 16 September 2008

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            The deadline to file as a claimant for the Exxon Qualifying Settlement fund has long since passed, but with a partial payment from the Exxon Valdez Oil Spill Settlement due out next month, are financial institutions seeing higher volumes of business, and what are they offering in terms of financial planning? Mary Donaldson has more.

           Craig Johnson of Edward Jones Investments says there is a positive spin on Exxon Valdez Oil Spill plaintiffs not receiving the full settlement amount for the first payout, at least in terms of investing.

            (Johnson 1                  :17s     “…a little less complicated.”)

Johnson says he has seen a rise in fishermen and other claimants doing some financial planning this year, with the partial EVOS payout starting in just a few weeks.

            (Johnson 2                  :33s     “…more or less.”)

Another Edward Jones Investments financial advisor in Kodiak, Inga Seifert, says traffic in her office has been pretty steady as well. She says financial planning has always been encouraged to the plaintiffs.

            (Seifert 1                     :15s     “…plan into action.”)

            Johnson says there are many different types of financial planning that he’s been doing for his customers.

(Johnson 3                  :43       “…paid on the settlement.”)

            Seifert says financial planning at her office has varied due to the different circumstances for each plaintiff.

            (Seifert 2                     :33s     “…for example.”)

            Both Seifert and Johnson say that financial planning is a wise move to make with any large sum of money received. Seifert says investing can bring instant savings and returns.

            (Seifert 3                     :37s     “…goals are.”)

            Jody Spivey is the manager of the Wells Fargo Bank in downtown Kodiak. She says they have been busy setting up direct deposit request for plaintiffs, as well as notarizing these types of forms. She says the bank will be hosting several speakers in the future as a resource to let the public know of the many ways they can invest their money wisely.

            (Spivey 1                     :40s     “…more comfortable retirement.”)

            Spivey says the workshop will be held October 8, at 5:30 p.m. at the Best Western Kodiak Inn. The office of Jamin, Schmitt and Saint John in Kodiak says partial EVOS payments are scheduled to begin next month, and that the pay outs will be done by one claimant category at a time, rather than all claimants receiving a payout on a certain day due to the large number of claimants and groups.

I’m Mary Donaldson.               ###