2007 Press Coverage / Media Interest

Military Officer, November 2007 – In “Financial Tune-Ups,” Garrett Planning Network members Rick Mayes, CFP®, MBA of Carlsbad, California, Kim Jones, CFP® of Broomfield, Colorado and Buz Livingston, CFP® of Santa Rosa Beach, Florida provided advice to three MOAA members, all at various points in their military careers and with different financial issues. 

BusinessWeek Online, Fall 2007 – Barbara Camaglia, CFS, CPA, CFP®, a Garrett member in Beachwood, Ohio, appeared in an article titled, “2007 Bunker Portfolio.” Camaglia was quoted regarding foreign markets, the importance of investing abroad as well as differentiating between emerging and developed foreign markets.

Money Magazine, October 2007 – The only way a commissioned adviser can help you is by selling something, writes George Mannes in his article titled, "Inside the Mind of Your Adviser." Garrett Member Kent Grealish, CFP®, AIF®, an ex-broker from San Bruno, California shared his experience. "Sometimes by giving the right advice – don't buy – you didn't get paid," he said, "while you could be rewarded handsomely for giving bad advice." Eileen Freiburger, CFP®, a Garrett Member in Manhattan Beach, California, also shared a story from her days as a bank branch manager. The article noted the Garrett Planning Network website as an online resource for finding a pro who works for a fee, not commissions.

Kansas City Star, September 19, 2007 – George Syata, CFP® of Practical Planning in Overland Park, Kansas was quoted in “The Fed Lends a Hand.” The article was about the reasons for the Federal Reserve’s September 2007 interest rate cut. “I’m advising my clients not to do a thing,” said Syata. “If you have a well-diversified portfolio, the worst thing you can do is sell in a down market.”

Associated Press, September 17, 2007 – Your Two Cents Columnist Meg Richards interviewed Garrett Member Jennifer Cray, CFP® of Menlo Park, California for advice on how to keep spending under control. In “Watch out, it's a spending trap!” Cray says, "You have to decide in advance how you're going to spend your money instead of being led by impulse. Spending that doesn't get you much tends to be spending you do at the last minute, for convenience. It's all about being resourceful, but being resourceful takes forethought."

SmartMoney.com, August 14, 2007 - Network Member Buz Livingston, CFP® of Santa Rosa Beach, Florida was featured "Navigating Today's Real Estate Market." Livingston warned buyers considering an adjustable rate mortgage to make sure they know exactly how long the current rate will last. They should also make sure they understand how high the rate could rise. For sellers Livingston advised, "One thing is to forget the amount your home was worth last year." In addition to the usual advice about sprucing up the yard and dashing fresh paint on walls, Livingston said sellers should think outside of the box and perhaps include personal items, for instance, a lawnmower.

LubbockOnline.com, July 30, 2007 – "Our main focus when we work with people is to provide information that answers their specific question so that they can make better financial decisions," explains Jim Taylor, CFP®, Garrett Member and founder of A.M.P. Financial Planners, Inc.. "We work for the client." Read "From everyday money matters to long-term financial goals - is your money at risk?" to learn more about Taylor and his fee-only financial planning firm in Lubbock, Texas.

AARP The Magazine, July 26, 2007 – Garrett Member Jim Smith, CFP® of Smith Financial Services in Boston, Massachusetts was interviewed for a feature story entitled “Double Your Savings.” With Smith’s guidance, the clients profiled in the story quadrupled their retirement savings in four years. In the article, the client said, “last year when we sat down with Jim, I realized we weren’t so deprived. I realized we’d have money for retirement and I felt secure for the first time.”

Money Magazine, July 2007 – Jennifer Cray, CFP®, a Garrett Member in Menlo Park, California, was the featured advisor in money makeover article called “Money Makeover: Riding a wave of bad advice.” This story featured a single 35 year old that had accumulated a portfolio of 14 investment accounts, many with high commissions and fees. Cray untangled his investments and suggested a low-cost, simplified asset allocation better suited to his age and risk tolerance.

Kansas City Star, June 17, 2007 – George Syata, CFP® of Practical Planning LLC in Overland Park, Kansas put together a Money Makeover for a teacher who was changing school districts and wanted to know what her retirement options were. Syata and the teacher explored retiring at age 62 and age 66 and concluded that retiring early probably was not realistic. Syata recommended that when she changes school districts, she should roll her 403(b) plan into an IRA at a discount broker and invest the funds in a diversified portfolio of index funds: bonds, domestic and international stocks.

MSNBC, June 3, 2007 – From funds to savings accounts, fees and other charges are a fact of life. In "Investing on the Cheap," one suggestion to lighten the load is to bone up on bank fees. Kathleen Hartman, CFA, CFP®, CDFA™, a Garrett Member at Greenleaf Financial Group in Indianapolis, recommends that small investors look to credit unions or community banks for cost savings. "Credit unions are closer to a not-for-profit entity than a for-profit entity, and consumers with small balances generally have no annual account fees and low minimums," she wrote in a contribution to the article. These venues are also often good places to save on loan costs, she adds.

Horsesmouth, May 25, 2007 – Garrett Member Phil Dyer, CFP® authored a piece called “How Life Planning Changed My Practice.” It was published and chosen by Horsesmouth on Memorial Day weekend as the “Editor’s Pick,” with this lead: “Here's the story of how a West Point graduate tossed aside his skepticism about financial life planning and learned to help clients connect to their core values. When you guide clients to uncover their dormant hopes and dreams, you motivate them to start aggressively pursuing their life and financial goals. Soon, RMDs, investment policy statements, and spreadsheet projections become supporting tools and not drivers of the advisor-client relationship.” Read Phil’s account now.

Wall Street Journal, May 23, 2007 – Garrett Members, Jennifer Cray, CFP® of Investor’s Capital Management in Menlo Park, California and Bob Nusbaum, CFP®, MBA of Middle America Planning in Pittsburgh, Pennsylvania were quoted in "Financial Planning for the Not-Yet-Rich." The article discussed how planners are able to help people who are in their 20's and 30’s make the most of their financial resources and how there is tremendous demand from this age group for help in balancing the demands of saving for retirement and for their children’s education. Other issues such as life insurance and student loans are also important with this age group. The article illustrated how Cray and Nusbaum are able to work with Generation X and Y clients in order to help them meet their goals.

Investors Business Daily, May 18, 2007 – In the article “Plans Can Prevent Wedding Bell Blues,” Joe Bedingfield, CFP®, a Garrett Member in Birmingham, Alabama recommends setting priorities when crafting the wedding budget. “In my experience 75% of wedding expenses are determined by the 3 D’s: dining, drinks and decorations.” Failing to stick to the budget for those items can double or triple the cost of the wedding, Bedingfield says. The time of the day counts too. “A brunch reception with a meal, open bar and a band will cost substantially less than an evening event with a sit down dinner,” according to Bedingfield.

CNN Money, May 2007 – With a handful of broad goals in mind, Money Magazine gave their top picks on what to do with five grand in "Where to put $5,000 now." One suggestion was to pay off high interest credit card debt. "That's a no-brainer," says Rob Oliver, CFA, CFP®, a Garrett Member in Ann Arbor, Michigan. If you just pay the minimum due on credit card bills, you'll barely cover the interest you owe, to say nothing of the principal. The return on your investment is the interest you no longer have to pay.

South Bend Tribune, April 28, 2007 – In "Moving after midlife marriage," Garrett Member Michael Knight, CFP®, of Libertyville, Illinois addressed relocation issues that folks entering into a second marriage commonly must face. Whatever course they take, they should deliberate carefully and make their decision in light of an overall "life plan," says Knight, who has worked in the financial planning field for 20 years.

Lincoln Journal Star, April 22, 2007 – Garrett Member Matt Buckwalter, MS of MJB Financial Planning in Lincoln, Nebraska, was featured in an article called "Garrett Planning Network announces first Nebraska member."

SmartMoney.com, April 19, 2007 – Journalist Rob Wherry wrote "A Primer on Measuring Risk in Mutual Funds" as a recent 416-point drop in the Dow brought the topic of risk to center stage. He explored various ways to put risk exposure into focus: some easy ways and some more sophisticated metrics. When meeting with a new client, Garrett Member Warren McIntyre, CFP®, founder of VisionQuest Financial Planning in Troy, Michigan, goes through a checklist starting with financial goals, but the conversation ultimately turns to risk. “You have to know how they feel about it and how much they can stomach,” he says, but at the same time, “some people can’t afford to lose.” According to McIntyre, the best defense against too much risk is a well-diversified portfolio.

USA Today, April 2, 2007 – Melody W. Townsend, CFP®, AIF®, principal of Townsend Financial Planning in Mount Sterling, Kentucky, was featured as the expert in "Your Portfolio: They've done the math for retirement but it is enough?" and "Couple must work to protect assets." A couple, Al and Joanna Viviano, wrote in seeking advice on their current savings for retirement, their investment allocation and protecting their assets. After going through the financial planning process with Townsend, the Viviano's were quoted as saying, "This is hard work—allocating assets and drawing down right," said Mr. Viviano. "You have to work your asset, nourish it with good money and go to a financial planner." Mrs. Viviano adds, "We're ending a final stage of our lives, and (Townsend) really put our minds at rest."

Horsesmouth, March 30, 2007 – Three Garrett Members, Jay Biddy of Legacy Wealth Management in Edmond Oklahoma, Michael Knight, CFP® of Knight Investment Planning in Libertyville, Illinois and Ben Jennings, CPA/PFS, CFP® of Navigator Financial Planning in Tacoma, Washington, were profiled in an article regarding the hourly financial planning approach. The article looked at how and why three financial advisors chose to transition to this fast-growing platform.

Kansas City Star, March 4, 2007 – George Syata, CFP® of Practical Planning, LLC in Overland Park, Kansas was quoted in an article titled "State Plans Make Saving for College Less Taxing." Syata's comments were that the most important thing is to be saving in one way or another and the vehicle used was a secondary consideration. He also said that by utilizing a 529 plan, taking the state tax deduction for the contribution and benefiting from tax free earnings on the account (if used for qualified education purposes), your savings could be about 11% greater than saving in a taxable account.

Chicago Tribune, March 4, 2007 – Derek Lenington, CFP®, a Garrett Member in Los Angeles, California, was the featured advisor in money makeover article called "Feeling the pinch: Couple tries to help children, save for retirement." This article involved a couple with six children, all still living at home at least part of the year. The couple was struggling with helping their children pay for college while trying to catch up on building their retirement savings. Lenington helped them focus on addressing the cash flow drain associated with continuing to support their adult children and increasing their retirement savings. He also provided advice regarding their investments and gave some tips on saving toward college expenses.

Financial Planning Magazine, February 2007 – Can baby boomers looking to downshift to less demanding – but less lucrative – careers pull it off without derailing retirement? That’s the question Garrett Member Sherrill St. Germain, MBA, CFP® of New Means Financial Planning in Hollis, New Hampshire, takes on in “Your Client’s New Career.” Aimed at financial planners working with clients at various stages of the career change process, the article includes a timeline of action steps, suggested resources, and stories of career-changer clients, including one featuring fellow Garrett Member, Michael Donahoe, MBA, principal of Donahoe Financial Planning in Portland, Maine.

BusinessWeek.com, January 2, 2007 – Lauren Young, personal business editor, offered readers “Seven Steps to a More Prosperous 2007” by talking with a team of financial advisors about real-world situations. Warren McIntyre, CFP®, of VisionQuest Financial Planning in Troy, Michigan, advises one participant to think about purchasing long-term disability insurance to protect his income during his working career. “Self-insuring a long-term disability is very expensive,” McIntyre notes. “You can’t count on Social Security disability to provide adequate coverage.”

Bloomberg.com, January 2, 2007 – Tom Nowak, a Garrett Member in Grayslake, Illinois was featured in an article titled “Hedging Life Risks Is a Worthy New Year’s Goal.” A former chemist, Tom’s own career transition to a financial planner is used to illustrate how he now advises clients to address an assortment of life risks particularly relevant to two-career couples.