2000 Press Coverage / Media Interest

TICKER magazine, November 2000 - In the "Spotlight" section, Sheryl Garrett was profiled as "Advisor of the Month." This full-page article described Sheryl's successful practice and how her brand of hourly fee-only planning benefits everyday Americans. "By catering to people from all walks of life, we are able to do more good than a fee-only firm that focuses solely on high-net-worth individuals," says Sheryl. Sheryl compares herself to a dentist, pointing out that she has a long-term relationship with her clients, but they only come to see her when they need financial advice or services. She often recommends that her clients come to her for a six-month checkup, or "when they are in pain ... just like a dentist."

Bloomberg Wealth Manager magazine, October 2000 - In the cover story "The Art of Deconstruction," David Drucker details Sheryl Garrett's transition from principal of a successful wealth management firm ... to champion of fee-only planning and advice for people for all walks of life. "The retainer structure and the firm's sole focus on serving only high-net-worth individuals started to bother me," says Garrett. "I felt drawn to serve average Americans on an as-needed, hourly basis. Affluent people may need an ongoing retainer-based relationship, but the majority of Americans need only occasional advice and periodic check ups. I formed Garrett Financial Planning so that people from all walks of life and income levels could obtain professional, fee-only financial planning and advice."

Kansas City Star, October 1, 2000 - In "Family Money ... Pocketbook Issues," Sheryl Garrett chimed in on what the presidential candidates were promising on taxes, retirement savings, education and more. "There's usually so much rhetoric, and not much comes into being," said Sheryl. The article went on to detail key points in each candidate's plan.

Financial Planning Interactive, August 11, 2000 – In “Cut and Dry Work,” Sheryl Garrett says an hourly bill appeals to the middle-class. Two years ago, Garrett left behind her old firm and the world of asset-management fees and high net-worth clients to start an hourly, fee-schedule firm called Garrett Financial Planning that services the middle class. Garrett’s services work well for clients who don’t want to turn over assets to an adviser. She works with plenty of self-directed investors who want a professional to look over their shoulder and make recommendations. “I established Garrett Financial Planning in May 1998 to address the needs of what I believe is the largest segment of the American population,” she said. “Those are the people who are looking for occasional professional advice. They’re interested in paying for this service on an hourly basis or for a project that I’m engaged in fulfilling. We ask them to provide us with a certain amount of documentation, and from that point forward, all the time we spend meeting with the client, speaking with the client, or working on their behalf is billed to them.” Garrett doesn’t charge a client when she can quickly answer a question over the phone. But she will charge for any lengthy replies. Each month, her firm typically serves about 15 to 20 new clients, who tend to schedule a follow-up visit between six and 24 months later. "We have found no price resistance working with middle-income or lower middle-income clientele," Garrett said.

Mutual Funds magazine, July 2000 - Historically, most financial planners have been hesitant to charge hourly fees like attorneys and accountants. Instead, they deferred to commissions or annual management fees (usually about 1% of the client’s assets under management). Many planners, in fact, concede that their income from longstanding clients has doubled in the past four years as portfolios have grown — even though no more work or advice was needed to service the client’s account. Sheryl Garrett and her firm believe hourly fees for services rendered are the more fair and appropriate way for clients to compensate their financial planner or investment advisor. In the “Smart Planning: Advice on Experts / Know your Planner” section, the editors note that Garrett is “booked solid” with middle-income clients opting to pay an hourly fee for Garrett’s special brand of “Fee-Only Financial Planning and Advice for Everyday Life.” Planners nationwide are seeing a swing in the number of clients seeking hourly rates.

Investment Advisor magazine, June 2000 - In “Right as Rain,” Sheryl Garrett is pictured on the cover of this respected financial services magazine holding an umbrella overhead, smiling and looking toward the heavens. The caption reads: “Head Wader: Sheryl Garrett plunges in where other advisors fear to tread.” An excerpt from the article reads: “Sheryl Garrett is brightening the forecast for middle-income clients. Serving mostly middle-income clients. Charging only hourly fees. Requiring no long-term contracts. Is Sheryl Garrett all wet? Her successful practice proves otherwise, and she hopes the ripple effect of her approach is copied by other advisors. Sheryl Garrett’s unconventional approach has left her practice awash with contented middle-income clients, proving that you can do well by doing good.” The five-page article continues on, profiling Sheryl’s successful fee-only practice and plans for the future. To request a copy of the article, please contact Garrett Financial Planning, Inc.

Journal of Financial Planning, June 2000 - Sheryl’s comments and advice were included in the article “The Employee Benefit Package: Helping Clients Avoid Surprises.” As benefits packages get more complex, the financial planner’s role in helping clients understand their benefits and estimate their worth is becoming more and more important. The advisory team at Garrett Financial Planning, Inc., routinely helps GFP clients with information and decisions related to employee benefits and their total compensation package.

Kansas City Star, May 21, 2000 -In his “Consumer News / Survival Skills” column, reporter Paul Wenske asked Sheryl Garrett for her thoughts on managing personal finances as interest rates rise. Sheryl said, “Consumers should take stock of how much debt they have and how much they can get rid of or manage. Rising interest rates can magnify your debt. Monthly payments can eat into your budget.”

Kansas City Star, May 17, 2000 - When the Federal Reserve raised interest rates by half a point, Star Watch Consumer News called Sheryl Garrett for her comments and insights. “Greenspan is saying, ‘Hold it, folks, you are too optimistic,’” said Sheryl. “Our companies aren’t going to continue having so much productivity. Technology can’t solve all our problems. We still need human beings to do the work. And we’re running out of human beings.” Sheryl went on to say that she felt the Fed move was necessary. “Greenspan is trying to reduce consumerism to make it less attractive for us to go into debt,” she said. “It’s like food. You need a certain amount of food to survive. But if you overeat, you will become unhealthy.”

Financial Planning magazine, May 2000 - In the cover story “What Ever Happened to the Middle-Class Client?” Sheryl Garrett explains the benefits of as-needed/periodic fee-only financial planning. In Garrett’s world, financial planners would be more like doctors – trained to catch problems early and provide routine physicals. Garrett questions the value middle-income investors receive from both commissioned and fee-based financial advisors. “A 1% fee on assets under management might make sense for the first year or two, but after a few years, middle-income investors will start wondering what value they are getting out for that $5,000 a year,” she says. Garrett advocates “good, old-fashioned hourly fees,” like people expect from their doctors, lawyers of certified public accountants. “A huge portion of the middle market is seeking exactly this kind of periodic (not ongoing) financial advice,” says Garrett. “Because of their focus on life goals over wealth accumulation, middle-income clients tend to be very planning oriented.” Garrrett’s firm specializes in working with middle-income households and self-directed investors, on an as-needed, fee-only basis.

Mutual Funds Magazine, May 2000 - Sheryl Garrett was chosen as Planner of the Month by the editors at Mutual Funds magazine. Honors include publication of a color photograph, information so readers can contact Garrett, a list of her favorite mutual funds and a word of advice from her. Garrett's advice in the feature: Invest the time to determine what you want out of life, financially and otherwise.

Kansas City Star, April 18, 2000 - In a front page article called Market Wallop Offers Insight, Sheryl Garrett was asked to comment on the continued volatility in various stock market indices. Investments shouldn’t cost you sleep or push you into checking prices everyday, but the Nasdaq’s record 25% one-week plunge, coupled with the 7.3% one-week decline in the Dow Jones industrial average, certainly caught most investor’s attention. It was, in fact, a good test for investor risk tolerance. Garrett said, It’s not rare and someone shouldn’t feel embarrassed by recognizing that certain investments are not a good fit for one’s comfort level. Mutual fund investors are particularly vulnerable to owning more technology stocks than they may expect because many so-called growth funds favor technology stocks, but their names don’t suggest it. Garrett said most growth funds are likely to provide the average investor with enough technology exposure. I really don’t think the majority of people need to buy a mutual fund with technology in its name, she said.

Kansas City Star, April 9, 2000 - This In the News feature was headlined with Spotlight is Shining on Financial Planner: May issue of Mutual Funds magazine honors Sheryl Garrett. The article read, in part: Readers of MoneyWise have seen the name Sheryl Garrett for years. She is a financial planner in Overland Park and a source in many personal finance articles in this section. Now she has been discovered by Mutual Funds Magazine. The magazine chose Garrett as Planner of the Month for its May issue. Managing Editor John Curran said he and writer Evan Simonoff picked the planner. Simonoff has a vast knowledge of the financial planning community, Curran said. He said they look for planners who are in good standing with the profession and with the public and have interesting advice.

Kansas City Star, March 12, 2000 - Trent Carter and Sheryl Garrett, principals of Garrett Financial Planning, Inc., were profiled as the experts in a Money Makeover they provided for a middle-aged, single mother. What changes must I make to be ready for both early retirement in 10 years and Nathaniel’s college costs? the subject asked. After analyzing her situation, Carter and Garrett surprised the subject with their answers. You are really in pretty good shape, even if it doesn’t feel like it at the moment, Garrett told the long-time federal civic service employee. Carter added that she was already more meticulous than many people about tracking and directing where her money goes and making sure regular amounts are going into savings for the future. The challenge now, they said, would be to refocus that discipline to deal more effectively with short-range and midrange issues. Using more of your cash to build reserves and cut debt faster will help you take greater advantage of an already good start, they counseled. We recommend investing these funds in a quality, no-load growth mutual fund on an automatic monthly basis.

Horsesmouth.com, March 8, 2000 - In the Managed Money section of this online magazine for financial services professionals, Sheryl Garrett shared her views on how financial planners can add value for their clients by providing personalized advice and guidance far beyond what the old model stockbroker offered. Move from being a commodity provider to a service provider, she counseled. Financial planning is a goal-oriented process with six main steps, according to the article: (1) Establish and define the relationship, (2) gather data, (3) develop and present a financial plan, (4) make recommendations and offer alternatives, (5) implement the plan and (6) monitor the client's progress. Instead of looking for the next investment sale or idea, says Garrett, examine the best way to help clients meet their goals. The article was entitled Broker vs. Financial Advisor: A Matter of Mindset.

Kansas City Star, February 27, 2000 - For the past five years, the Kansas City Star's MoneyWise staff has joined with area financial planners to present educational events. The Web Investing Seminar, held February 27, 2000 at Johnson County Community College, featured Sheryl Garrett, CFP, of Garrett Financial Planning, Inc. Sheryl's portion of the program was entitled, Online Resources for the Sandwiched Generation. In her workshop, Sheryl discussed issues affecting the two areas which babyboomers are sandwiched between - caring for elderly family members and providing college educations for their own children - and offered ideas on how the Internet can help in planning.

Wall Street Journal, February 18, 2000 - In the Money and Investing section in the lead article titled A Few Balanced Funds Soared Last Year By Saying Goodbye to Equilibrium, Sheryl Garrett gave her opinion on balanced funds with unusually high returns in 1999. When people hear the term 'balanced,' they think conservative, says Sheryl Garrett, an Overland Park, Kansas, financial planner. But if a balanced fund has significantly more than 60% in stock, for instance, she says, you have the illusion you've got more balance than you really have. Most balanced funds mix blue-chip stocks with high-quality bonds in a roughly 60/40 mix. The 1999 returns of some top-performing balanced funds were more what you would expect from high-octane growth-stock portfolios because they emphasized hot stocks in technology and other sectors. Some balanced funds aren't so balanced, concludes the Wall Street Journal.

Your Money magazine, December/January 2000 - Sheryl Garrett and a real-life client were profiled in a four-page article called Money 911, Smart Choices in a Financial Emergency. The article detailed the plight of the client when, at age 53, she lost her bank job after 21 years of service. After turning to Sheryl Garrett for help in her financial crisis, the two developed a game plan, and worked toward restoring the client's financial security. The client, now re-employed and busy with her garden and granddaughter, says the counsel she received from Sheryl Garrett allowed her to take her time, not panic, and preserve her precious retirement reserves. More than anything, says the client, Sheryl gave me peace of mind. (request a reprint of this article)

Registered Representative magazine, January 2000 - Tech savvy generation Xers were supposed to have passed by full service financial planning, but in the article Unlikely Clients, Sheryl Garrett says this generation is doing the right things about planning their financial futures right out of college. Gen Xers, she says, are optimistic and opportunistic. They desire financial security and aren't shy about asking for help to achieve it. Garrett spends lots of time strategizing with Gen X clients. Their attitudes seem to reflect their grandparents' responsibilities, she says. The five-page article contains many more insights on financial planning and quotes from Sheryl Garrett. (request a reprint of this article)