Revised DOL Fiduciary Rule

Professor Ron Rhoades, my esteemed colleague (he’s esteemed, I’m certainly not) at Garrett Investment Advisors, has written prolifically about the need for a true (Bona Fide) Fiduciary Standard for investment advisers. His efforts and those of many others are starting to move the needle.

This Forerunner’s Forerunner Is In A Class By Herself

Investment News just featured Sheryl Garrrett as one of its elite, Transformational Advisors.  It is an honor she certainly deserves, but she is a humble lady who won’t make a big deal about it.  So, I will.   Sheryl has been way ahead of all of us in making competent financial planning accessible to everyone. She is also this advisor’s advisor.  I am proud to be associated with both of her fine organizations; Garrett Investment Advisors and the  Garrett Planning...

Safest-Separate The Advice From The Management

(5th & last post in the series: From Dumb, Dumber & Dumbest To “Safe”, Safer & Safest) You can get the benefit of truly independent advice without risking any hidden conflicts of interest, by separating the functions of money management (execution) and advice.  Fee Only Financial Planners will offer advice, assist you in executing their recommendations in your own insured brokerage account or help you find a money management firm that can execute your plan for you in a custodial account.  Since the advisor never has access to your money or your investments, there is virtually no opportunity for fraud. Of course there is still the risk that you get bad advice or that your investments simply fail.  Your best chance of avoiding bad advice is to make sure both you and your advisor are well educated in financial planning.  The National Association of Personal Financial Advisors (NAPFA) offers a good checklist for finding educated professionals dedicated to acting as client fiduciaries and resources that you can utilize for your own education.  It can be found at...

“Are You Crazy? Do You Know Anybody Else Who Does That?”

It was a huge relief to find many kindred spirits in the experienced professionals of Garrett Planning Network and NAPFA who are more focused on doing good, than just doing well. They are my forerunners in fee only financial planning.