California Lutheran Named Hispanic-Serving Institution

The managing director of investments at Los Angeles-based Wedbush Securities, Inc., Allison Clago has built a successful career in the sector over the past 30 years. A dedicated philanthropist, Allison Clago donates to multiple educational and health causes, including a sizeable gift to establish a scholarship at California Lutheran University.

In 2016, the U.S. Department of Education recognized Cal Lutheran as one of 400 Hispanic-serving institutions (HSI) nationwide. The HSI designation means students of Hispanic origin make up a quarter of the full-time undergraduate population, qualifying the university for federal assistance to support these students' education. Cal Lutheran has reached the 25-percent benchmark for Hispanic students for the past five school years.

While the increase in Latino students is partly due to changing demographics, it also reflects Cal Lutheran’s commitment to diversity and inclusion. The university has made a concerted effort to recruit and admit underrepresented students, particularly those who are first-generation college students. It also strives to achieve increased diversity in faculty and administrative positions to build a more inclusive learning environment.

Allison Clago Dedicated to Giving Back

Allison Clago leverages more than three decades of experience to her role as the managing director of investments at Wedbush Securities, Inc. A breast cancer survivor, Allison Clago has contributed $300,000 in recent years to three Southern California organizations dedicated to fighting cancer and other life-threatening diseases. 

She donated $100,000 to support a proposed center at California Lutheran University to train student researchers. Ms. Clago, who initially enrolled at Cal Lutheran in 1980, withdrew before completing her degree. After working to earn her remaining credits, she received her degree in business administration in 2018.

She gave another $100,000 each to the Providence Tarzana Medical Center and the John Wayne Cancer Institute, both of which she credits with having saved her life after she was diagnosed with breast cancer. The goal was to fund research into new ways of fighting disease that do not subject the body to harsh, invasive procedures.

Additionally, Ms. Clago has endowed a scholarship fund for finance students at Cal Lutheran in recognition of the education she received at the university, which she credits for much of the success she has achieved.

The Virginia Robinson Gardens Children’s Program

An accomplished finance executive in Los Angeles, Allison Clago brings more than three decades of experience to her position as a managing director of investments for Wedbush Securities. Outside of her professional life, Allison Clago stands out as an active philanthropist who supports groups and institutions such as the Virginia Robinson Gardens.

Founded in 1911, the Virginia Robinson Gardens originally belonged to the estate of wealthy department store magnates Virginia and Harry Robinson. Throughout the 20th century, the estate played host to legendary Hollywood parties featuring guests such as Charlie Chaplin, Elvis Presley, and Marlene Dietrich before Virginia Robinson bequeathed the gardens to Los Angeles County in 1977. Today, the gardens are open to the public and host a range of programs, including a children’s educational program.

A science-based learning program for students in second through fifth grades, the Children’s Program offers free tours for groups of up to 42 students from Tuesday through Friday of each week. In addition to the tours, the program comprises interactive learning activities about botany and ecology as well as educational discussions about the sources of the food we eat.

The Virginia Robinson Gardens is a state-approved field trip destination. To learn more, please visit www.robinsongardens.org/childrens-program.

Volunteer Opportunities at Providence Saint John’s Health Center

With more than 30 years of experience in financial investments and wealth creation, Allison Clago serves as a managing director of investments at Wedbush Securities, Inc. in Los Angeles. A frequent supporter of hospitals and medical research, Allison Clago has made several gifts to Providence Saint John’s Health Center in Santa Monica.

Providence Saint John’s Health Center offers a robust volunteer program that has attracted nearly 350 volunteers ranging in age from teenagers to senior citizens. The program has built upon a strong foundation and sense of community over the years, with the longest-serving member of the program having volunteered for more than 40 years.

There are more than 30 different tasks with which volunteers can help at the hospital. Some volunteers interact directly with patients, such as in the waiting or reception areas or through the book distribution or therapy animal programs. Other volunteers work behind the scenes, assisting with clerical tasks or in the gift shop.

Providence Tarzana Reimagined Gains Los Angeles City Council Approval

A respected presence in the Southern California financial sphere, Allison Clago engages as a managing director of investments at Wedbush Securities, Inc. With a strong philanthropic presence in the Tarzana community where she grew up, Allison Clago contributed more than $1 million to the Providence Tarzana Medical Center Foundation in January 2018.

These funds will be allocated within the ambitious, $540 million “Providence Tarzana Reimagined” initiative, which received final Los Angeles City Council approval in April and is slated for completion by 2022. With construction set to begin in the summer, a new state-of-the-art hospital is envisioned that will enhance the capacities of an institution that has served Tarzana patients since 1973.

The redevelopment includes a core pledge by Providence Tarzana to renew and expand its commitment toward serving the needs of those with mental health issues and struggling with homeless. Operating as a not-for-profit system, the hospital already funds programs that assist vulnerable populations through commitments of millions of dollars annually.

TCAR Procedure Offered at Providence Tarzana Medical Center

A managing director of investments at Wedbush Securities, Inc., Allison Clago leverages more than 30 years of experience in guiding families and businesses toward financial freedom. In addition, Allison Clago serves on the board of governors for the Providence Tarzana Medical Center Foundation.

In April 2018, Providence Tarzana Medical Center, a leading source of quality care in San Fernando Valley, announced that it is the first medical facility in the area to offer the innovative TransCarotid Artery Revascularization (TCAR) procedure to patients. This procedure treats carotid artery disease using minimally invasive technology. In doing so, it reduces patients’ risk of stroke resulting from carotid artery disease.

According to the hospital, roughly 15 million people throughout the world have a stroke each year. Of these, five million patients are disabled because of their stroke and six million of these strokes are fatal. It’s estimated that one-third of all stroke cases are related to carotid artery disease, a condition that is diagnosed in about 400,000 new patients in the US each year.

In the past, treating carotid artery disease required patients to undergo a carotid endarterectomy, an open surgical procedure that leaves a long scar on the neck. Beyond affecting the patient's appearance, the procedure was also associated with such risks as nerve injuries, bleeding, infection, and heart attack. 

Many of these risks do not exist or are substantially reduced with the TCAR procedure because of its minimally-invasive nature. Surgeons using TCAR are capable of diverting clots caused by carotid artery disease by reversing blood flow through the trans-carotid artery. This allows surgeons to stabilize artery blockages using a stent inserted in this large blood vessel.

Allison Clago Gives Back to Her Hometown Hospital

Allison Clago is the managing director of investments for Wedbush Securities in Los Angeles. A committed philanthropist and breast cancer survivor, Allison Clago gives back to her community by working as a member of the board of directors of the Providence Tarzana Foundation.

The Providence Tarzana Medical Center has been serving the residents of the San Fernando Valley since 1973. The award-winning, 249-bed hospital has been named one of the Top 100 healthcare centers in the country by HealthGrades for the past two years.

The Providence Tarzana Medical Center plans to build on this rich tradition by significantly expanding and improving its services and facilities in the near future. The project, dubbed “Tarzana Reimagined,” will enlarge the emergency, neonatal, and women’s health departments while adding physical improvements such as gardens on the hospital grounds. 

The Providence Tarzana Foundation is leading the fundraising efforts for the project, with a goal of $540 million. The initiative received a major boost in January of 2018, when Allison Clago, a Tarzana native, formally initiated a multimillion-dollar trust that will provide ongoing financial support to the hospital.

Alzheimer’s Association to Host 2018 International Conference

Possessing more than 30 years of experience as a financial professional, Allison Clago assists clients in a variety of areas, including asset allocation, investment analysis, retirement planning, and college funding. Since 2016, she has worked with clients as managing director of investments at Wedbush Securities, Inc., in Los Angeles. Outside of the office, Allison Clago is a major contributor to organizations such as the Alzheimer’s Association of California Southland Chapter. 

In addition to offering a range of patient and family support programs and resources, the Alzheimer’s Association leads the country’s research efforts to develop new methods for preventing, diagnosing, and treating Alzheimer’s disease and related dementias. Currently, the organization is preparing to host the Alzheimer’s Association International Conference (AAIC), which will bring together international research investigators, clinicians, and health care providers for the world’s largest forum for dementia study. 

AAIC 2018 will take place July 22-26 in Chicago. The main highlight of the five-day event will be an educational program comprising workshops, poster presentations, and scientific sessions led by top dementia researchers from around the globe. The conference will also include keynote presentations from several distinguished speakers, including Lennart Mucke, MD, Miia Kivipelto, PhD, and Guojun Bu, PhD. 

In addition to learning about the latest developments in dementia research and care, AAIC 2018 attendees will have an opportunity to explore new products and technologies at an exhibit hall. The event will also include an awards program celebrating the work of distinguished Alzheimer’s researchers. Additional information is available at www.alz.org/aaic.

Saving for Education with 529 Plans - An Overview

For more than 30 years, investment professional Allison Clago has worked to help individuals and business clients meet their financial goals. In her role as managing director of investments with Wedbush Securities, her areas of focus include asset allocation, investment analysis, and retirement planning. Allison Clago also has experience with college funding options such as 529 plans, savings accounts that come with tax advantages that make it easier for families to save for college or K-12 education costs. 

Created by the US Congress over two decades ago, 529 plans take their name from Section 529 of the Internal Revenue Code, which authorizes this type of educational savings arrangement. They are legally known as “qualified tuition programs.”

Although 529 plans can vary from state to state, they all fall into one of two broad categories: prepaid or savings plans. Prepaid tuition plans are state-sponsored plans offered through qualified educational institutions, and most have residency requirements that apply to the person saving the money and/or his or her beneficiary. In contrast, 529 savings plans operate in much the same way as other investment vehicles to generate funds that can typically be used for education costs in any state. 

In most cases, parents set up a 529 plan for their child, but anyone can start a 529 to help cover future education costs for a beneficiary of their choosing, including themselves. In addition to tuition and fees, money from a 529 plan can generally be used to pay for room and board, books, and other costs at an eligible educational institution. As of 2018, eligible institutions include public, private, or religious K-12 schools, as well as colleges, universities, and vocational schools.

California Lutheran University Prepares to Build New Science Facility

An experienced financial professional based in Los Angeles, Allison Clago serves as managing director of investments at Wedbush Securities, Inc. Alongside her professional pursuits, Allison Clago studies economics, business, and finance at California Lutheran University (CLU). She also supports the school as a member of the CLU Scholarship Society. 

In addition to plans for a new Bachelor of Fine Arts Center, CLU has launched an initiative to construct a facility for students preparing for science careers in research, health care, academia, and business. The facility will be constructed as part of the university’s ongoing efforts to expand academic programs and services focused on science, technology, engineering, and math (STEM) subjects. 

Currently, CLU is in the planning and fundraising stage of the project, which will ultimately add 12 teaching labs and eight research labs to the school’s campus. The learning and research spaces will be spread throughout three stories. Once construction on the center is completed, students majoring in marine biology, human performance, chemistry, and biology fields will have new classrooms and more than 2,537 square feet of collaborative conference rooms and meeting areas to support their studies.

The Music Center to Host American Ballet Theatre in Summer 2018

Allison Clago brings more than three decades of securities industry experience to her role as managing director of investments at Wedbush Securities. Outside of her work at the Los Angeles-based company, Allison Clago gives back to the community through her support of several local organizations, including the Music Center.

One of the country’s largest performing arts centers, the Music Center in downtown Los Angeles hosts a variety of music and dance programming throughout the year. Currently, it is preparing for a number of upcoming events, including a presentation of La Bayadère from American Ballet Theatre (ABT). 

The three performances of the classic 19th-century ballet will take place July 13-15, 2018, at the Music Center’s Dorothy Chandler Pavilion. This will mark the 11th time the center has hosted ABT, which is renowned worldwide for its repertoire and lineup of accomplished international ballet stars. 

ABT’s presentation of La Bayadère will also wrap up the 15th season of Glorya Kaufman Presents Dance at the Music Center. The season also included productions of The Nutcracker, Romeo and Juliet, and Matthew Bourne’s dance adaptation of the Academy Award-winning movie The Red Shoes.

Hospital Obtains $4 Million Donation for Renovation Project

As a managing director of investments with Wedbush Securities, Inc., Allison Clago provides high-net-worth clients with assistance in diverse areas of asset management, ranging from retirement investment to educational planning. Moreover, Allison Clago is a philanthropist who focuses on initiatives that benefit the community. Among other endeavors, she supports the California Lutheran University Scholarship Society and recently provided a $4 million contribution to the Providence Tarzana Medical Center Foundation.

Over the decades, her family has relied on the care provided by Providence Tarzana for a wide range of matters. She underwent treatment for breast cancer at the hospital, and her father received cared there during his peaceful last days. 

Providence Tarzana is in the midst of raising funds for a $540 million expansion and redesign of the hospital, called the Tarzana Reimagined project, which is intended to meet the needs of a growing local population. The project includes a new and expanded Emergency Department and major improvements to the Women’s Pavilion and neonatal intensive care unit. In addition, new parking structures will be added, and the lobby, garden, and visitor reception area will be redesigned.

In describing the motivation for her gift, Ms. Clago emphasized the importance of Providence Tarzana in reaching out to diverse members of the local community, including those without the means to otherwise afford quality care.

Coverdell IRAs and 529 Plans for Tax-Advantaged Educational Saving

Allison Clago is a Southern Californian financial executive who provides client-centered services as a managing director of investments with Wedbush Securities, Inc. Among Allison Clago’s areas of extensive knowledge are tax-advantaged education funding plans such as 529 Plans and Coverdell IRAs.

Both plans are similar in rewarding account holders, not with federal tax deductions at the time of contribution, but through tax-free withdrawals at the time of use for qualified education expenses. With Coverdell IRAs capped at a $2,000 annual contribution per beneficiary, 529 Plans offer a significantly larger $14,000 annual contribution cap, with high total savings limits. 

Unlike Coverdell IRAs, money contributed to 529 Plans is revocable, which means that it can be withdrawn (with penalties and taxes applied) in emergency situations. In addition, it does not carry with it the Coverdell's adjusted gross income limit of $95,000 for single filers, or $190,000 for joint filers, for full contributions. 

Despite their limited size, Coverdell IRAs offer certain advantages, including a wider range of investment choices and fewer account-associated expenses. In addition, their applicability extends beyond the higher education uses provided for by 529 Plans and includes all levels of education.

The Historic Virginia Robinson Botanical Garden in Beverly Hills

Based in Southern California, Allison Clago engages as Wedbush Securities, Inc.’s managing director of investments and provides knowledgeable asset allocation and portfolio planning solutions. Maintaining a strong community focus, Allison Clago recently made a major philanthropic gift to the Providence Tarzana Medical Center Foundation, and she also supports the Virginia Robinson Gardens.

Situated on a historic estate dating back to the early 20th century, the former residence of department store owners Virginia and Harry Robinson was the first luxury estate built in Beverly Hills. Located on six acres behind the Beverly Hills Hotel, the property was deeded to Los Angeles County after Virginia Robinson’s passing and emerged as a botanical garden open to the public under the guidance of Francis Ching.

Taking advantage of an unusually mild microclimate, the botanical garden has played a vital role in providing a home for seedlings from the tropics, as they become acclimated to Southern California’s unique soil and climate. The property also features 40-foot king palms and mature groves of kentias, which are usually encountered as potted plants. With the hillside property featuring areas of shade and light, senses other than sight are cultivated through fragrant gardenias and lemon blossoms and the tranquil sound of flowing water.

Allison Clago: Los Angeles-based Financial Advisor and Philanthropist

Allison Clago, a financial executive with more than three decades of experience, currently serves as the managing director of investments at Wedbush Securities in Los Angeles, California. Using her vast experience in the securities industry, Allison Clago assists clients with portfolio planning, asset allocation, and retirement planning to increase their financial success.

After starting her career at Merrill Lynch, Pierce, Fenner & Smith, Inc. as an equity and bond trader, Ms. Clago then worked on managing investments for both TD Securities and TD Ameritrade. In 2007 she joined the Beverly Hills-based Stockcross Financial Services, where she spent eight years honing her financial investment experience before accepting the offer to join Wedbush in early 2016.

A long-time philanthropist, Ms. Clago has made sizeable gifts to the Saint John’s Medical Center Auxiliary in Santa Monica, California, the Alzheimer’s Association of Southland California, and the California Lutheran University Scholarship Society. In her free time, Allison Clago enjoys traveling, cooking, and attending the ballet and opera.