Journal
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The Death of Financial
Planning's "Magic" Founder

Forrest Wallace Cato, RFMA, FMM, RFC


On the first day of Spring, March the 21st, 1997, at 1 p.m., a great American died. He was great because he envisioned a system, devised practical procedures and processes, and even created a structured establishment, that enabled millions of Americans (mostly in the middle class) to reach their financial goals, to obtain financial security, and to enjoy more successful lives of choices, independence, and dignity. He achieved all this without ever once receiving one single dollar from the federal government for his contribution to mankind, or for himself. Actually, the federal government made everything more difficult for him during his many years of struggle.

What he started will hugely benefit many millions more, -- possibly you. He was the man who created financial planning. Loren Dunton, "America's father of financial planning," passed away at the age of 79. He was born on January the 14th, 1917, in a modest two-bedroom house near the small Canadian town of Trail, located in the British Columbia province. Trail was close to the Washington State boarder. Loren's father owned a small sawmill and as a teen and college youth Loren drove a truck. Young Dunton picked-up logs and delivered lumber. Loren's family moved to Seattle where they all became American citizens.

Young Phil Calandra, is President of Pinnacle Financial Services in Kennesaw (An Atlanta suburb.), Georgia. He has been recognized by the International Association of Registered Financial Consultants, as "… One of our industry's best and brightest. Calandra makes us all proud!" Phil Calandra reported, "Each day as I work helping others I remember Loren Dunton with sincere appreciation."

Bernard Anderson, AIF, President of Anderson Financial Solutions in Atlanta, observed, "After his youth in Canada, most of Loren's life was later spent in Denver and then in San Francisco, but the impact of his efforts will forever benefit people around the world. During his life Loren was usually quick to laugh. Loren ability to instinctively find humor must have helped him to survive and eventually prevail."

Jeff Eshun, RFC, President of Solution 21 Finance in Toronto, Ontario, is possibly Canada's best-known financial planner. Jeff Eshun says, "Across Canada, financial professionals are proud of the fact that Loren Dunton was born in Canada." Eshun adds, "To this day everyone associated with Solution 21 Finance all across Canada, adheres to Mister Dunton's core principles. We claim Mister Dunton as one of our own."


Monroe M. Diefendorf, Jr., MI, CLU, ChFC, CFP, RFC, CIMA, C3DWP, President of Diefendorf Capital Planning Associates and 3 Dimensional Wealth International, both in Locust Valley (Long Island), New York, operates the oldest financial planning firm in the world. "Roey" Diefendorf is one of America's most experienced and most respected financial planners. "Roey" summed-up the thoughts of most financial professionals when he stated, "History will reflect extremely well on Loren Dunton. Loren contributions to American citizens make him look greater with each passing year."

On March the 20th, of 1997, Loren had been in his oversized distressed-leather chair, writing on his leather-topped lap-desk that I gave him. From the window near his favorite chair you could easily see the Golden Gate Bridge in the distance. Loren's project at that time was a book about "doism." He told me a few day earlier, "I am almost finished writing my "doism" book.

But suddenly Loren felt terribly ill so he drove himself to the closest emergency room. He had suffered a heart attack but managed to arrive at St. Francis Hospital in San Francisco. He parked his car by a parking meter and walked into the emergency entrance. Loren did not phone his wife, the actress Marta Dunton, because he thought he was only going to experience a ER brief treatment. He was kidding with two nurses then immediately passed out. It was quickly decided to transport Loren to nearby St. Mary's Hospital, so he could access treatment facilities that were considered more appropriate for his condition. Too much blood thinner had been administered to Loren and while in the ambulance on the way to St. Mary's, he suffered a massive stroke. Soon his heart stopped beating. He was kept alive and then revived after an emergency room surgeon opened and removed the blockage in his heart.

Between hospitals, while being transported in the ambulance, the last complete sentences Loren spoke were, "I hope I make it. I want to finish the "doism" book.

Loren passed away in a hospital room while his wife Marta held him. His youngest daughter Page Lambert had quickly flown in from Sundance, Wyoming, as did his older daughter Brook Bacon, from Hawaii. His brother, Howard Dunton had rushed to his bedside from a Chicago suburb. All three had both just stepped out of his room for "something to eat." Marta remained in Loren's room and continued holding Loren's when he passed away. She held his hands for over an hour after he expired. Marta had to be persuaded (by the three other family members) to "let him go."

Loren was a sales trainer and motivator before becoming what he jokingly called, "The Godfather of financial planning." He was friends with and admired sales trainer Charles B. Roth, and inspirational motivator Rev. Dr. Norman Vincent Peale.

Loren's unfinished manuscript on "doism" was turned over to his beloved friend Ed Morrow to finish, using Loren's final draft and notes. Later Ed revealed than only less than ten percent remained to be completed.
Loren was never much into eating. He was happy with soup and a sandwich rather than Haute Cuisine. He did not smoke. He did not drink, except for an occasional small glass of wine. He enjoyed tennis, fly fishing, golf, reading and movies. His life was dominated day and night by his determination to create financial planning for the American people.

While in Hollywood, California, on business, upon learning of Loren's death, my first reaction was extreme anger at him for "doing that" to me. Immediately I silently screamed "Loren how can you leave me like this? We are not finished with our projects yet. We have lots more to do. I am not ready for you to go! You are so close to fantastic success. What in hell are you doing? How dare you die at this point."

I felt betrayed, deserted, and alone. My beloved best friend and trusted father figure suddenly and unexpectedly abandoned me. Of course I now realize this was selfish of me. I had always counted on Loren Dunton to be a part of my world. I assumed he would be there. It was a long time before I realized how self-serving my reaction had been. Many months went by as I struggled to manage my grief, -- or almost cope with my enormous loss. I actually believed that Loren would appear before me some place or at least speak to me, possibly in my dreams while I was asleep. I knew for certain that he would not leave without telling me. I kept expecting him to somehow deliver some final words.

Marta, Ed, Paul, Hal, and Ben remained. The original small team was there. But Loren, our magic leader through years of ups and downs and still more downs, was suddenly gone! Months before Loren had been urging Hal and I to fall-back more and rely more on Ed. Now I know why Loren did this. Apparently Loren had been getting weak and he knew this.

Loren was the only person I ever knew who was actually magical. Loren was never a magician, not like Harry Houdini, David Copperfield, Siegfried and Roy, Penn and Teller, Uri Geller, David Blaine, or any other conjurer, illusionist, or prestidigitator.

But Loren Dunton could baffle and amaze by his insights, thoughts, and by his dynamic personality. Loren could amaze you with words that became your thoughts. He stimulated you to act upon your ideas. He would often phone me at three o'clock at night to explain some aspect of an exciting new idea, or to challenge a remark that I made two weeks before.

Loren lived in San Francisco with his wife Marta. His associate Paul Richard was in San Diego. Ed Morrow was in Middletown, Ohio. Ben Baldwin was in Chicago. Hal Chorney was in Boston. I was in Atlanta.
Loren would demand that I go see a current movie so we could discuss it by long distance. This was before the days of e-mail and the detested spam that invades our e-mails. Loren would send me books with pages marked with notes such as "Can you explain this to me?" or "Do you believe these last two paragraphs?" I once witnessed Loren arguing for about fifteen minutes with a sidewalk hustler near Times Square. Their disagreement was over a game of "Three Card Monte."


I failed to fully appreciate Loren until he was suddenly gone. Now I treasured such memories as:


Exploring his beloved "City by the bay."
Wading in water by the foundation of the old Cliff House.
Eating breakfast at the little eatery by the Cliff House.
Jogging short distances in Golden Gate Park because I could not keep up with Loren.
Arguing over the last cream-filled doughnut.
When we lunched with Patrick Macnee of TV's The Avengers
Being disappointed when a check did not arrive.
Searching for rare books in Manhattan.
Sharing one steak because we could not afford two.
When we visited The Bohemian Club to interview Loren's friend Louis Kelso who wrote The Capitalist Manifesto
Bicycling down from Nob Hill.
Being childlike when we met Roy Rogers at Roy's Museum.
Fly fishing in Billings, Montana (where he ridiculed my casting).
Laughing when Marta fell into the water while trying to learn to fly cast in Billings, Montana.
Watching Loren imitate Fred Astire.
Being elated when W. Clement Stone decided to help further the cause of financial planning.
Experiencing publicity or promotion triumphs and failures.
Arguing about proposed lines in a manuscript.
Being awed upon meeting the multitalented Steve Allen.
And many more shared experiences.


Loren didn't walk, he almost ran. Often I yelled for him to slow down. I could never keep-up with him physically. He liked tennis. I liked naps.


Forrest Wallace Cato, RFMA, FMM, RFC, is a long-time reader of Financial Services Journal On-Line. He provides media based image branding for financial planners. Financial Record called Cato, "The leader in image branding for financial professionals." Long-time financial industry sales trainer, Jack Kinder, proclaimed, "Cato's impact is enormous." During the annual IARFC Forum Convention he presents The Cato Award for "Published writing that promotes greater understanding for and acceptance of financial planning." Cato is former editor of Financial Planning Magazine and Trusts & Estates: The Journal of Wealth Management. Today Cato is Editor-In-Chief of The Inspirator International Magazine, presently circulated in all of the Pacific-Rim countries. Contact: Intergroup II/Atlanta, Inc., 915 River Rock Drive, Suite 101, Woodstock, GA 30188, 770-516-9395 (Phone), wcato7@juno.com (e-mail), 770-366-8441 (Cell) or www.CatoMakesYouFamous.com (Web Site) or
770-516-9396 (FAX).