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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:
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