I have heard it said that a financial planner can provide more value with planning techniques than with just managing your money (an investment adviser only).
According to Kiplinger's Personal Finance (Washington Post August 8, 2010), "...Morningstar analyzed investor returns of institutional funds and funds sold with sales charges, both of which are typically purchased with the "help" of advisers. Measured against no-load funds, which individual investors usually buy on their own, these funds produced roughly the same poor results..."
Guess what? Market timing does not work. Buy low, sell high. Simple. But there were not many interested in selling in October of 2007 (market high) and even fewer interested in buying in March of 2009 (market low).
The answer is a strategy, a plan and an allocation of financial assets based on your personal situation.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.