22 Aug 2014
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Patch Instagram photo by mixiescafe
Patch Instagram photo by mixiescafe

134th House Race: Mackenzie and Reynard Spar Over Reynard's Job

The Ryan Mackenzie campaign says 134th House District challenger John Reynard is not properly registered with the state as an investment adviser but Reynard says the accusation is a misinterpretation of state law.

134th House Race: Mackenzie and Reynard Spar Over Reynard's Job

Is the campaign splitting hairs about state regulations and the definition of his opponent's job?

Or is either (1) violating state rules by not registering as an investment advisor or (2) misrepresenting his work?

That's the latest controversy in the 134th House District race.

The campaign of GOP state Rep. Mackenzie on Monday accused Reynard of not properly registering with the state as a professional investment adviser. Reynard replied that registration is not required for his specific type of work.

"I don’t know why he has tried to kick my ass early," Reynard said. “He must be worried."

The Mackenzie camp saying Reynard is in violation of “Section 102(j) of the Pennsylvania Securities Act of 1972” by failing to register as an “Investment Advisor” with the state of Pennsylvania.

Reynard's campaign  saying they checked with state officials and the Democratic candidate does not need to be registered for the type of investment work he does now.

Reynard was formerly registered with the state as an investment adviser as required when he worked for Merrill Lynch, he told Patch in a phone interview Monday. Reynard, 40, lives in Emmaus and has also taught business and economics at Lehigh University and Lehigh Carbon Community College.

Reynard says that Mackenzie is applying the state regulation incorrectly because Reynard advises people about money without talking about stocks.

The Mackenzie campaign statement further accused Reynard of misrepresenting his work if he is not an "investment adviser."

"John Reynard has gone to great lengths to try and tout his experience, but his experience seems to be either not following the laws of Pennsylvania or exaggerating his resume for political gain," Mackenzie spokesman Jason Ercole said in a campaign statement. "Either way, Mr. Reynard has proven the people of the 134th District can't trust him or what he says."

Reynard explained his job this way: “I match people’s money with their goals and try to help them to change things in their lives to help them to meet those goals."

As an example, Reynard shared the story of a wealthy client who was approaching retirement and had a lot of money tied up with a broker. He asked the client about his goals. The client had two: to put his money into a less risky investment and to find a steady job for his child.

"I put together a short list of businesses he could buy and hire his kid as a manager," Reynard said. "He’s making more money than he used to in the stock market, even after paying his kid."

Reynard added that even though his firm is a sole proprietorship and he doesn’t directly employ workers, he has added jobs to the community through situations such as the father-son scenario he described.

“I would like to know what Ryan has done to start any jobs in the district,” Reynard said.

Reynard says that Mackenzie’s facts are simply wrong.

“I don’t know why he is attacking a small business,” Reynard said. “That’s not what state reps should be doing. I called the Pennsylvania Securities Commission in late 2009 and again today and they said ‘if that is what you do with your business, then you don’t need to be registered.’ "

Renyard added, “He just wants to scare me out of the race. I am not running away.”

Reynard said that he doesn’t understand why Mackenzie is resorting to personal attacks instead of debating him on the issues.

“It is hard to attack his job. He has never had one - except in politics,” Reynard said.

Mackenzie in May to fill the unexpired term of former state Rep. Doug Reichley, who left the state House to become a Lehigh County judge.

Reynard said that his campaign website will be live within the next week or so and that he and Mackenzie have two television debates scheduled for October.

The 134th House District includes parts of Lower Macungie, Upper Macungie, South Whitehall and Salisbury townships.

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