2004 Press Coverage / Media Interest

Wall Street Journal, December 30, 2004 – In “How to Fix Your Life in 2005,” Jonathan Clements discusses several quick fixes that can save consumers time and money. If you are worried that your broker is ripping you off, Clements recommends hiring a financial planner who charges by the hour to look over your finances. The Garrett Planning Network website is listed as the resource for fee-only, hourly financial planners.

Pioneer Press, December 13, 2004 – In “Help friends balance the books with these gifts,” investment columnist Gail MarksJarvis recommends “Just Give Me the Answers” by Sheryl Garrett along with Marie Swift and The Garrett Planning Network as an all purpose household finance book you can use to look up topics pertinent to you at any particular time.

SmartMoney.com, December 9, 2004 – Sheryl Garrett, CFP®, founder of The Garrett Planning Network provided advice on how to modify your financial plan and boost your retirement savings if you are underfunded in “Last-Minute Retirement Planning.” One possible solution recommended by Garrett is to work longer. “Many young retirees take part-time work, often working as a consultant in an industry they know well or maybe even working in a low-stress service job, says Garrett.

Kiplinger’s Personal Finance, December 8, 2004 – The Garrett Planning Network website was listed as an online resource for fee-only financial planners across the country in “Make a Financial Match Online.” To find an expert, go to the “Find a Planner” map of the website and simply click on your state or enter your zip code and a list of fee-only, hourly financial planners pops up. You can limit your search to planners within a specific distance from your home.

Wall Street Journal, December 5, 2004 – In “Five Books to Retire By,” Jonathan Clements recommends “Just Give Me the Answer$” by Sheryl Garrett with Marie Swift and The Garrett Planning Network as one of the top five books that address some of the most important issues in retirement planning. He writes that Garrett and the network members “do a nice job of providing the Big Picture, tackling almost every aspect of personal finance.
CBS MarketWatch, November 16, 2004 – “A growing number of financial planners are charging hourly fees for advice dispensed on an as-needed basis," reports Jackie Cohen. "With hourly fees, then there's no hierarchy with my clients," said Sheryl Garrett, a CERTIFIED FINANCIAL PLANNER™ practitioner and Founder of the Garrett Planning Network, a network of fee-only advisors. "We want to make financial advice accessible to anyone who wants it."

CNN Money, November 15, 2004 – In “Mistake: Taking the wrong amount of risk, The Fix: Achieve the perfect asset mix for your portfolio,” The Garrett Planning Network was the sole resource listed for fee-only planners who will work with consumers on an hourly, as-needed basis.

Wall Street Journal, November 12, 2004 – In “Reinvesting at Year End Poses Choices”, Sheryl Garrett, CFP®, of Shawnee Mission, Kansas says that in determining whether or not dividends should be reinvested in the mutual funds from which they came, the alternatives of having distributions paid in cash or deposited into a money market mutual fund are "more dangerous." The money easily could linger at low interest rates, or worse, be quickly spent.

Financial Planning Magazine, November 2004 - With the right plan, it's not hard to grab reporters' attention, notes author Alan Gersten in “Media Darlings.” He addresses many interesting ways for financial planners to gain media attention in their community and says, “Although it takes some effort, good public relations is attainable.” He quotes GPN's Marketing Communications Coach Marie Swift, well known planner Deena Katz and a couple other planners and experts.

Money Magazine, November 2004 – In “Don’t Sweat It”, Ellen McGrit writes that “the hot idea now is "spot financial planning" where a specific need can be addressed by buying a few hours of unbiased, personalized advice." She also notes The Garrett Planning Network as a growing collection of fee-only planners who charge by the hour.

CNNfn, October 20, 2004 – On the “Your Money” broadcast hosted by Ali Velshi, Sheryl Garrett, Founder of The Garrett Planning Network, was the guest expert and spoke on how to make a successful career change.

Washington Post, October 7, 2004 – In “A Word to the Young Worker: Time is Money, So Start Saving Now” Sheryl Garrett, CFP®, provided expert advice on how to determine the amount of life insurance a husband and wife would need to provide for their children if either one of them were to pass away unexpectedly. “For the working parent or parents, if you need both incomes, then you need to determine how many years of your income you want to try to replace,” says Garrett. “I find that most people need at least ten times their gross annual salary to cover expenses and to provide for the surviving family.”

Military Officers Association of America (MOAA) Magazine, October 2004 – “All GPN members are CFP® practitioners (or will be in the near future), and many hold additional degrees, such as CPA, MBA, or JD,” writes MOAA Deputy Director, Phil Dyer, CFP®. “All offer hourly, fee-only advice on an as-needed basis, abide by a strict code of ethics, and receive no commissions from product sales they recommend.” After diligent efforts by headquarters staff and board members, MOAA formed an alliance with The Garrett Planning Network, a national organization of hourly, fee-only financial planners that offers a 20% discount on hourly fees to MOAA members. GPN advisors who work with MOAA members have also taken special training courses to better understand financial issues facing active duty, National Guard and Reserve, and retired officers and their families.

Los Angeles Times, September 26, 2004 – In “Invest Time to Find the Right Advisor,” Liz Pulliam Weston directs readers to The Garrett Planning Network as an organization that addresses the gaping need for affordable financial planning for middle-income consumers.

Bloomington Pantagraph, September 23, 2004 – “Just Give Me the Answer$” is noted as a personal finance reference book for both the novice and the more advanced learners in Karen Hansen’s article, “Just the Answer$, please.” It covers a range of financial planning topics and aims to educate consumers on the different ways financial advisors are paid.

Washington Post, September 19, 2004 – In “Once again, don’t bet home on a rental,” Sheryl Garrett, CFP®, Founder of The Garrett Planning Network, was quoted as a financial expert on whether or not leveraging your home to invest in real estate is a smart decision. "Most people would not be served well by leveraging their home further than it already is so that they can get into another very illiquid, geographically non-diverse single property,” she said. If you want to invest in real estate and "you don't have the money other than to borrow out of your own residence, then that may be a good sign that you're not diversified enough."

IFAonline, September 6, 2004 – The Institute of Financial Planning Forum for Success, held in London, United Kingdom, announces international experts such as Sheryl Garrett, CFP®, to speak on a panel discussing the future of financial planning and their ideas for the vision of the profession.

Tribune Companies, September 5, 2004 – Eileen Ambrose’s article, “Frequent Questions and Factors to Consider,” appeared in many newspapers across the country including Los Angeles Times, Chicago Tribune, The Baltimore Sun, and more. She writes that many people have the same financial questions, whether they are executives earning six figures or grade school teachers making a fraction of that. Sheryl Garrett’s book, “Just Give Me the Answer$,” includes more than 130 frequently asked questions with answers from dozens of financial planners who are members of The Garrett Planning Network.

Embrace the Middle Class, September 2004 - In his article titled "Embrace the Middle Class" in the September 2004 issue of Investment Advisor magazine, Kevin Condon of MyFinancialAdvice calls on the profession to serve all aspects of society including the underserved middle market segment. He favorably mentions The Garrett Planning Network as sharing this vision and commitment to reach consumers from all walks of life.

The Dallas Morning News, August 29, 2004 – “How much mortgage you qualify for and how much you can afford are two different things,” writes Pamela Yip of The Dallas Morning News. "The amount you qualify for is whatever the lender will give you," said Sheryl Garrett, a CERTIFIED FINANCIAL PLANNER™ professional and Founder of The Garrett Planning Network. "It has absolutely nothing to do with what you can afford." You need to be careful that you don't end up house-poor, where you're spending a big chunk of your money on your housing costs. "That makes a person life-poor," Ms. Garrett says.
Forth Worth Star Telegram, August 27, 2004 – In “Planner Aims to Help Regular Folks,” Sheryl Garrett, CFP®, is featured as a financial planner who has set out to ease the financial fears for an often overlooked population – middle income America. "Most people don't need a full-time financial planner," she said. "But they do have financial questions. They need someone to meet with or pick up the phone or email to help them stay on the right track." Now Garrett has a national network of 220 independent financial planners in 44 states. “Just Give Me the Answer$” was also noted as a reference book to answering 134 common questions on the minds of many consumers today.

San Diego Tribune, August 23, 2004 – "There are more opportunities than ever to find reliable financial advice without feeling like you've been gouged or humiliated in the process," writes personal finance columnist Lynn O'Shaughnessy. "This is indeed a heartening development for the middle class, who haven't amassed the considerable personal wealth that will prompt the sort of financial adviser who is regularly interviewed by The Wall Street Journal to cancel his afternoon appointments so he can fawn over you and your portfolio. The commissioned crowd has always argued that their way is ideal for the little guy because there's no big upfront bill. But I'd argue that's no longer true - if it ever was. An increasing number of fee-only planners are now charging by the hour. You can seek advice from one of these hourly planners, if you want to find out, for example, what's the best way to save for college, whether you should refinance to a 15-year mortgage or if you've got enough cash to retire. Two firms, The Garrett Planning Network and the Alliance of Cambridge Advisors, provide access to fee-only planners across the country, including San Diego, who can charge by the hour.”

Kiplinger Personal Finance, August 2004 – In an article called I Need Affordable Advice, the editors of Kiplinger Personal Finance recommend hiring a planner on an hourly basis. “If you just need a financial adviser to tell you whether your retirement accounts make sense or to give you an unbiased second opinion about your investments, your best bet is to hire someone on an hourly basis or for a set number of meetings. Members of The Garrett Planning Network, a group of 225 financial planners in 40 states, charge an hourly fee to consult on any financial problem. They offer their services on an as-needed basis and don't manage money or require an annual retainer.”

American Medical News, August 8, 2004 – Sheryl Garrett was quoted in an article called Marrying Your Finances: Tips for Newlywed Physicians.

Associated Press, August 4, 2004 – Sheryl Garrett was quote in an article called How to Protect Yourself as Co-Owner of a Home.

VoiceAmerica Internet Radio Show, August 4, 2004 – Sheryl Garrett was the guest host of a financial planning show on www.VoiceAmerica.com. Click the link to listen to the archived audio file. The program topic: benefits of working with a member of The Garrett Planning Network and receiving hourly, as-needed advice.

Wall Street Journal, August 4, 2004 – Journalist Terri Cullen listed The Garrett Planning Network as a place to find competent, objective advice in her Getting Advice article.

Newsday.com, August 1, 2004 – The Garrett Planning Network was noted as a place to find independent, objective planners who make their services accessible to “average Americans” in an article called “Should You Pay a Fee to a Personal Finance Adviser? Sounds Like a Plan.”

Financial Planning Magazine, August 2004 – Our new book, “Just Give Me the Answer$: Expert Advisors Address Your Most Pressing Financial Questions” received a favorable review in Financial Planning magazine’s “Book Shelf” column.

CNN Money Column, July 30, 2004 – Read what Walter Updegrave says about Finding the Right Adviser. The Garrett Planning Network is noted.

CBS Market Watch, July 14, 2004 – In “Save More than Pennies for Rainy Days,” Marshall Loeb writes that a car accident, busted boiler, sudden layoff or unexpected hospital stay can do significant damage to your finances – unless you had the foresight to maintain an emergency fund. In the new book "Just Give Me The Answer$" by Sheryl Garrett with Marie Swift and The Garrett Planning Network, it says that tapping a specific account for emergencies is better than building up credit-card debt or borrowing money. Tips #7 and #8 of “Just Give Me the Answer$” are referenced in this article as a resource for learning about emergency funds.

Chronicle of Higher Education, July 2004 – The Garrett Planning Network is noted as a resource for professional, fee-only financial planners dedicated to providing competent, objective financial advice to people from all walks of life, on an hourly, as-needed basis.

Radio Media Tour, July and August 2004 – Sheryl Garrett hit the airwaves, speaking about the importance of personal financial planning, The Garrett Planning Network’s unique way of providing hourly-fee-only advice, and the “Just Give Me the Answer$” book. Over 30 radio interviews in various locales resulted in hundreds of thousands of listeners across the nation hearing her message.

Hollister News, July 8, 2004 – GPN Founder Sheryl Garrett and “Just Give Me the Answer$” were featured in a Hollister News article titled “Author Answers Financial Questions.” The journalist writes that the book gives 134 tips on the most commonly asked questions concerning personal finance as answered by 75 members of The Garrett Planning Network, Inc. – a group that Garrett founded several years ago and includes expert financial planners from around the country. “Everybody has questions about their money at some time or another – this is designed to be a reference guide,” Garrett said. “It’s in a question and answer format so people can go to the index, get the answer to their question and move on.”

KRON TV / San Francisco, July 6, 2004 – This is the largest Sunday Morning Talk Show in the Bay Area. Two of the station’s news anchors and the show’s host spoke with Sheryl Garrett about fee-only, hourly planning and how it can benefit consumers.

The Oregonian, July 4, 2004 – Some homework is needed on your part to find a financial adviser whom you can trust. Journalist Julie Tripp writes that it is so tough to get good financial advice because good advice goes hand-in-hand with trust. “Independent, unconflicted advice is out there, even for the less well-heeled,” says Sheryl Garrett, a Kansas City financial planner who heads a band of 225 like-minded planners in 45 states. She had the middle market in mind as she developed the network of what she calls "a new breed of financial planner," advisers who offer independent hourly, as-needed financial planning and advice on a fee-only basis.

Bankrate.com, July 2, 2004 – Sheryl Garrett is quoted on coping with a financial tragedy. “Do not take any action right away, says Garrett. "There is so much emotion involved in any traumatic event. Calm down, step back and take a good financial assessment of your situation.” “Just Give Me the Answer$: Expert Advisors Address Your Most Pressing Financial Questions,” is mentioned as well.

WGN-TV, July 1, 2004 – Sheryl Garrett was featured in a television segment on Financial Planning for Unmarried Couples. Read a summary of the broadcast here.

New York Times, June 27, 2004 – “When you need financial help and have limited means, paying for advice may seem beyond reach. But getting professional guidance doesn't have to cost a fortune,” writes Elizabeth Harris. In “From Financial Planners, Advice for the Not-So-Rich,” The Garrett Planning Network is referred to as a place to go for independent financial advisers who focus largely on the middle-income investor.

Wall Street Journal, June 23, 2004 – Terri Cullen writes in her Fiscally Fit Exchange article: “As for finding a planner, one caution: Don't hire a salesperson. Investment brokers, life-insurance and variable-annuity agents, and other so-called financial advisers who work for, or are paid on commission by, financial-services companies are there to sell product. Your best interests come second to their bottom lines. Instead, seek out an objective fee-only financial planner, who is paid hourly or by a percentage of your total portfolio. You can start your search by contacting friends or professionals you know and respect for referrals, or get in touch with one of the networks of fee-only financial planners, such as the Garrett Financial Network of Shawnee, Kan.”

Bloomberg TV, June 19, 2004 – Sheryl Garrett, Founder of The Garrett Planning Network spoke about how to make the best financial decisions when it comes to getting a mortgage on this live broadcast for Bloomberg Personal Finance.

CNNfn, June 16, 2004 – Sheryl Garrett, Founder of The Garrett Planning Network spoke on retirement planning issues on this CNNfn broadcast with host Ali Veleshi.

Wall Street Journal, June 13, 2004 – “Am I qualified to be a financial adviser? Absolutely not. Then again, most full-time financial advisers aren't qualified, either,” writes Jonathan Clements in his Getting Going column. “The business of doling out investment advice isn't a profession in the way that, say, law or medicine are professions. Yes, you will find advisers who are Chartered Financial Consultants, Certified Financial Planners, Chartered Financial Analysts and Certified Public Accountants/Personal Financial Specialists. But these folks are the exception. Most brokers and financial planners have had little or no formal training. It's a disgrace,” states Clements. “I'll readily concede that there are people who have no business investing on their own. These folks would clearly benefit from hiring a good adviser (and, fingers crossed, maybe they'll find one). But I have also met heaps of investors who have fared just fine on their own. In fact, I honestly believe more people should go this route,” he adds. “If you manage your own money, you can still get help on occasion. Many advisers have started offering their services on an as-needed basis, at a cost of maybe $150 an hour. To locate one of these advisers, go to www.GarrettPlanningNetwork.com,” suggests Mr. Clements.

USA Weekend, June 5, 2004 – Want to give a significant gift to a special child? Here's one that packs a powerful financial punch: appreciated securities. Overall, the market has trended up in the past year. So your portfolio may be chock-full of stocks that have risen in value. The 2003 tax law made giving any of these securities (that you've owned a year or more) to a child 14 or older even more attractive. The child, who's most likely in the 10% or 15% tax bracket (younger kids are taxed at their parents' rate), can sell the securities and pay a capital gains tax of just 5%. (If you sold them yourself, you'd probably pay 15%.) It's not a complicated transaction, says financial planner Sheryl Garrett, author of the new book "Just Give Me the Answers" (Dearborn Trade, $18.95). Just write the custodian of your mutual fund or brokerage firm, asking him or her to transfer the asset to the gift recipient. Consider it a way to give more, for less.

Top 25 Most Influential People: Investment Advisor Magazine, May 2004 – For the second consecutive year, Sheryl Garrett, CFP®, has been named one of the “Top 25 Most Influential People in Financial Planning.” Previously a successful wealth manager, Garrett left the wealth management firm to focus on serving middle-income clients. Because she works with clients by the hour, they are able to obtain professional, commission-free advice whenever needed. She went even further by building a network of more than 200 advisors dedicated to serving average folks with average bank accounts. These planners are replicating her success by using the templates, processes and educational resources she developed while building her own firm. The advisors set up practices modeled on a doctor-patient relationship: periodic checkups on an as-needed basis and payments based on an hourly rate. “I am extremely proud of helping to change the financial services industry by proving the viability of working with Middle America and do-it-yourselfers on a Fee-Only basis,” Garrett says. “What was once deemed impossible is now the talk of the town at many industry conferences and with many financial journalists.”

CBS MarketWatch, April 20, 2004 – As Americans live longer, many are considering long-term care insurance, say personal finance writer, Marshall Loeb. “This insurance is intended to pay for help (usually aides or home nurses) for individuals who suffer from serious injuries or illnesses – such as Alzheimer's – that leave them impaired,” says Loeb who adds: “In her soon-to-be-published book, Just Give Me the Answer$, Sheryl Garrett, CFP® lists several questions you should ask yourself before you buy long-term care insurance.” Garrett and 75 other financial planners who are a part of the nation’s premier network of fee-only hourly advisors provide the answers to 134 pressing financial questions.

Investment News, April 19, 2004 – Sheryl Garrett, CFP®, has created a business that allows her – and hundreds of planners like her – to deliver financial advice to a broader group of clients, says Joanna Sabatini in her “One on One” feature. Garrett said that planners in her network try to identify a client's most pressing financial need. Many potential clients aren't looking for large, comprehensive financial plans, according to Garrett, who has worked in the financial services industry for 17 years. “Mostly, we are doing retirement projections and reviewing investment portfolios. Most of the folks I work with don’t have a lot of tax savings they can do, but they have important goals. They want to have a secure future, to provide for their family, and to provide college education for their kids.”

Wall Street Journal, April 11, 2004 – Many people assume their best bet is to sign on with one of the big brokerage firms, says Jonathan Clements in his "Getting Going" column. "But in my experience, often the brightest and most thoughtful advisers are at smaller financial-planning shops, so don't be put off if an adviser works alone or with just one or two others. To find these smaller outfits, check out www.feeonly.org and www.GarrettPlanningNetwork.com. Next, check that your potential advisers have a clean record with securities regulators, by going to www.sec.gov/investor/brokers.htm on the Web. Also," he continues, "look for advisers who are forthright about costs, including not only their fees, but also the fees charged by the investments they will recommend. I would lean toward advisers who levy an annual retainer, an hourly fee or a percentage of assets, and I would be leery of those who charge commissions."

Chicago Tribune, March 17, 2004 – In “Middle Class Joins Quest for Wisdom,” Sheryl Garrett, CFP®, of Shawnee Mission, KS, was featured as a financial planner whose mission is to offer affordable financial advice to middle-income consumers on an hourly, as-needed basis. Garrett, who is a former wealth manager, said, "I got really discouraged having to turn away clients I would have liked to work with but who couldn't afford the fee.” The concept of serving middle-income Americans has been so popular that Garrett three years ago launched The Garrett Planning Network, a group of advisors who pay to join the network and must meet certain standards. The network has grown to almost 200 advisors nationwide.

Baltimore Sun, March 14, 2004 – In "Educated Eye for the Ordinary Guy: Wall Street meets Main Street as Advisers Reach for Middle Class," writer Eileen Ambrose says: Until recently, it had been tough to find a professional financial adviser who'd give you the time of day if you weren't a fat cat. Some get a nice commission on any investments you make through them, and others just charge you a fee for their time and expertise (a third type mixes both approaches). Fee-only planners may charge by the hour, by the project or by a certain percentage of assets they manage for you. A comprehensive plan (retirement, insurance, taxes, estate planning) normally could run as high as $5,000. But now at least 20 percent of the National Association of Personal Financial Advisors (http://www.napfa.org) are targeting the middle-income market, particularly as people hit their 40s and 50s.

For those who could use a portfolio review or a financial plan but don't need a full-time adviser, there are planners such as The Garrett Planning Network, founded by Sheryl Garrett, a Kansas planner who once worked for a wealth-management firm that charged a minimum fee of $4,000. Six years ago, Garrett started her own firm that charges for advice by the hour. It attracts middle-income investors who don't need a full-time adviser, but might want an expert to review a portfolio or develop a retirement plan. It also appeals to high-income do-it-yourself investors who want to bounce ideas off a professional. Garrett charges $180 an hour. The concept has been so popular that Garrett three years ago launched the Garrett Planning Network (http://www.garrettplanningnetwork.com/), a group of advisers who pay to join the network and must meet certain standards. This article was also picked up by other syndicates such as the LA Times, Hartford Courant, Chicago Tribune and Newsday.

Kansas City Star, March 7, 2004 – “When we're making a wish list of things to buy, insurance rarely makes the Top 10,”writes Julius Karash of The Kansas City Star. Karash interviewed Sheryl Garrett, CFP®, a financial planner in Shawnee Mission, Kansas for her knowledge on this critical subject. “It's kind of like doing your taxes or getting a root canal,” says Garrett. “It's something we don't choose to do, even though it's critical.” Garrett, who does not sell insurance, said virtually every middle-income client she works with needs more life insurance.

Solutions, January/February 2004 – Sheryl Garrett, CFP®, talks to her fellow advisors about “Creating Your Ideal Practice” in this specialty publication produced by the Journal of Financial Planning’s editorial team. Garrett’s mission is to provide hourly, as-needed advice for the middle market. “Working with this market enables me to truly be a trusted advisor, a valuable resource,” Garrett says. In 2000, Garrett founded The Garrett Planning Network, Inc., a nationwide network of fee-only advisors who charge by the hour and do not accept commissions or any other form of third-party compensation.

Investors Business Daily, January 20, 2004 – Thousands of advisers are just a phone call or mouse click away, says writer Murray Coleman in “Pick an Advisor Who Meets Your Needs.” However not everyone meets the high account minimums of many of these financial planners. Sheryl Garrett, CFP®, a financial advisor in Shawnee Mission, Kansas, is trying to fill that void. "Virtually everyone has a question about their finances at one time or another," said Garrett. "But they don't need to hire a full-time financial planner. They just need a check-up from time to time and a professional they can trust to provide some direction." The service is proving so popular that it's spreading. Garrett has started a network of like-minded professionals. The idea is to provide consumers with a place to find advisers who don't require minimum investments and bill hourly. There are over 175 members now representing most regions of the country.