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.
if you are making plans to trim your waistline, you may want to pare your exposure to stocks back to your planned allocation as well. Your plan should tell you to rebalance by selling some “riskier” stocks and buying more “safer” fixed income investments. But, which fixed income investments are safer?
by automating most of my money management routines…I have saved countless hours and plenty of professional fees. You can too!
The simpler your current financial situation is, the easier it is to get a handle on it, now. The more successful and complex your situation becomes, the happier you will be that you invested the time early.
Now, new research from Morningstar Inc. gives investors an idea of the added value of financial planning: An extra 1.82% per year.
After setting up a custodial account, the next thing you can do to protect yourself, is retain the control of your portfolio by not giving your advisor “discretion” to trade your investments, or at least limiting that discretion.