2004 Press Coverage / Media Interest

Detroit Free Press, December 30, 2004 – Detroit Free Press business writer, Alejandro Bodipo-Memba, examined situations where employees seek early retirement and when employers push them toward the door. “It is usually thrust upon them when they are not ready for it, and it can be a little traumatic,” said Warren McIntyre, a CFP® professional in Troy, MI. “The company usually initiates it to reduce the number of employees.” The article looks at things to keep in mind before taking early retirement.

Cascades Business News, December 2004 – “This year, make your resolutions stick by investing a little extra time to create a personalized and well-planned strategy," says Ann Laferriere, CFP®, president of Griffon Financial Planning in Bend, OR. In her recent article on Financial New Year's resolutions, Laferriere highlights specific steps to help you create the staying power you need to realize your most important goals.

D Magazine, December 2004 – Several Garrett Planning Network members were named to the annual list of “The Best Financial Planners in Dallas” in the December 2004 issue of D Magazine. Members named include Steve Blankenship, CFP®, Bryan Clintsman, CFP®, Sher Miller, CPA, CFP® and Bob Stowe, CFP®. Clintsman was also featured in one of the Money Makeovers stories where he provided financial advice to a young woman just beginning to save for her financial goals. D Magazine is published for the Dallas and Ft. Worth, TX metroplex.

Journal of Financial Planning, December 2004 – Kim E. Jones, CFP®, president of Jones Strategic Financial Planning in Denver, CO was interviewed regarding concentrated stock positions for an article called “Planners and Clients Try to Weather Changing Tax Laws.” After taking into consideration Alternative Minimum Tax (AMT) issues, Jones says, “Although I almost always recommend that clients reduce these concentrated stock positions to no more than 10 percent of their investable assets, I’ve recently added a sense of urgency to my recommendations. I’ve mentioned to my clients that we may not be able to take advantage of the favorable top 15 percent capital gains rate in the future, so they should get it while the getting’s good. The current low tax on capital gains gives me incentive to nudge clients along to something I think might be best for them in the long run.”

Fund Marketing Alert, December 2004 – Julie Lawrence, founder of Lawrence Financial Planning in Tampa, FL was interviewed along with other advisors across the country regarding new offerings they added to their practices in the current year. Lawrence discussed her focus on fund stability and the long-term investment needs of her clients. She mentioned the additions of Dodge & Cox’s international and income funds, and a balanced fund from Mairs & Power. She also discussed the use of immediate annuities as part of a person’s retirement portfolio and recommended The Vanguard Group and TIAA-CREF for these types of annuities.
Financial Planning Magazine, December 2004 – Writer Susan Weiner examines the world of small cap funds in her article and cites a trend toward advisors using index funds and exchange traded funds rather than actively managed funds in the small company segment of the market. She interviewed GPN member, Warren McIntyre, on this subject. “I still subscribe to the thinking that a good small cap fund manager has a better chance of beating the benchmark than a large cap manager,“ says Warren McIntyre, CFP® and Principal at VisionQuest Financial Planning in Troy, Michigan. “The biggest issue I see with actively managed small cap funds today is that the best ones keep closing,” he adds.

Business Week Online, November 12, 2004 – Karen Norman, CFP®, Principal of Norman Financial Planning, Inc. in Troy, MI was interviewed for an article on the impact of major changes in your family or work life and how they can affect your financial life. After a client had taken an early retirement and set up a successful consulting practice, the husband was faced with having to put that business on hold while he took care of his ailing mother. Karen provided insight on how to cope with this temporary loss in income and create a plan to bridge-the-gap until he can focus on working again.

KUER FM 90 Public Radio, November 5, 2004 - Paul Winter, principal of Five Seasons Financial Planning in Holladay, UT appeared as a guest expert on retirement planning for the financial series, "Your Personal Economy,” co-hosted by Dan Bammes and John Bird. The panelists discussed the proposed changes to Social Security and the decline of traditional pension plans, and then fielded retirement-related questions posed by listeners.

Financial Planning Magazine, October 2004 – “Planners can lessen the impact of financial hurricanes on their clients with an early warning system and evacuation plan,” writes GPN member Jim Christie, CFP®, President of Freedom Wealth Management in New Jersey. In this article Christie describes investments and the financial market with a hurricane analogy and advises on managing expectations, preparing for the hurricanes and more.

FOX TV Channel 13, October 2004 – Julie Lawrence, President of Lawrence Financial Planning in Tampa, Florida was interviewed on October 4, 2004 during the “Ask a Planner” segment of Fox TV Channel 13’s Good Day Tampa Bay program. Julie served as a volunteer on the “Ask a Planner” hotline sponsored by FOX 13 in recognition of National Financial Planning Week. She commented that all average consumers have a need for financial planning at some time in their life. Julie also discussed the various methods by which planners are compensated.

The Detroit News, September 20, 2004 – Karen Norman, CFP®, Principal of Norman Financial Planning, Inc. in Troy, MI provided a financial review for a young recently married couple in the article, “Money and Life.” She provided tips on setting up a budget, paying off debt incurred while redecorating a new home and the importance of using their company retirement plans to start them on the road to financial freedom.

Financial Planning.com, July 2004 – Julie Lawrence, President of Lawrence Financial Planning in Tampa, Florida was interviewed for her comments on consumer confidence in the market. The author writes that consumer confidence hit a two-year high in July 2004 – but that seems to reflect the attitudes of the affluent rather than the middle market, according to financial planners. Planners such as Julie Lawrence, who work with middle-income clients, say they aren't seeing evidence of the consumer confidence boom everyone is talking about. Julie works primarily with retirees who have average investment assets of $300,000. "I'm seeing the hanging-on-to-my-money group," she said. "They're very afraid of losing money. They're willing to save more, particularly those with fewer assets, that don't make as much money, who we would consider lower income." Julie is committed to helping clients who may be struggling to find solutions to their financial challenges.

The Detroit News, June 14, 2004 – As the guest financial expert for a Money Makeover series, Warren McIntyre, Founder of VisionQuest Financial Planning in Michigan, helped a long time sales manager and his wife transition to self-employment after a late career layoff from an auto parts company. The recommendations included restructuring the portfolio to withstand a year or more of unemployment until the new business as a manufacturer representative gets off the ground and how to counter the pitfalls of the current low interest rate environment. McIntyre also presented some tax strategies to take advantage of the couple’s lower tax bracket during the transition period.

Wealth and Retirement Planner, May / June 2004 – Dean Knepper, CPA, CFP® expresses that the expenses charged by the funds in 401(k)s, IRAs and annuities are the No. 1 figures that investors should monitor when choosing their investments. Knepper, a fee-only financial planner and President of Herndon, VA based Lifetime Financial Planning, Inc. uses this example to show how a 0.5 percent difference in an annual fee can have a significant impact on a retirement savings account: If a 50-year-old investor places $100,000 in a tax-deferred account that earns a before-expense return of 8% and carries an annual expense ratio of 1%, it will grow to $386,968 over 20 years. If the same person invests in a comparable fund with an annual expense ratio of just 0.5%, the investment will grow to $424,785 over the same 20 years — that’s almost a 10-percent difference.

MSN Money, May 30, 2004 – Karen Keatley, Principal of K² Financial Planning in Charlotte, NC, was interviewed as part of a series addressing financial issues of women. The author listened in as Keatley provided a consultation with a woman facing the dual problems of significant debt and an inconsistent income stream. They discussed strategies for setting aside money in the good months to pay the bills in the lean ones. The consultation with Keatley also helped the woman to face some other issues she had been putting on the back burner: How can she build her free-lance business? How much should she try to save for retirement?

Chicago Tribune, May 23, 2004 – Julie Lawrence, President of Lawrence Financial Planning in Tampa, FL, was interviewed for her knowledge of investments and how to reallocate an existing portfolio. The author writes that many people have a messy collection of accounts from former employers and brokers that they just don’t want to let go. Lawrence agrees. Moving on takes an unlikely combination of guts and patience, Lawrence and other money managers said. Guts because you have to let go of those sacred cows. Patience because selling out of all your positions in one fell swoop could really set you back. That’s why you need to find a trusted advisor you can turn to.

Smart Money.com, May 20, 2004 – 87% of the mothers surveyed in an at-home parenting study conducted last year for Warner Books said they would stay at home to raise their children if they could afford to do so. In “Becoming a Stay-at-Home Parent,” Sheri Iannetta Cupo, a CERTIFIED FINANCIAL PLANNER™ practitioner with Sage Advisory Group in Morristown, N J says, “This is an all-too-common dilemma shared by many couples.” The good news is that with some careful planning well in advance; at-home parenthood can turn out to be more affordable than you thought. Financial planners can give you tips on how to make it work.

TheStreet.com, May 14, 2004 – With the threat of rising interest rates, senior writer, Ann Perry, takes a look at what financial advisors are telling investors to do to prepare their investment portfolios. She interviewed Warren F. McIntyre, a fee-only CFP® practitioner with VisionQuest Financial Planning in Troy, Michigan who noted that almost every portfolio needs some bond exposure, but this is not a good time to buy or hold them. His goal is to reduce the average term of bonds held and diversify the types of bond investments. “One possibility,” McIntyre said, “is to trade off interest rate risk – the risk that as rates move higher, bond principal will fall – for credit risk, the risk of a borrower’s inability to repay the bond.” He also recommended diversifying with international bond funds and U. S. Treasury Inflation Protected Securities (TIPS).

San Diego Union Tribune, May 2, 2004 – In "And Baby Makes Three," Terry Green, CFP®, AIF®, of Capital Financial Advisors, LLC was featured as the financial planner selected for this month's Money Makeover. The San Diego chapter of the Financial Planning Association chose Terry to work with the expectant couple. They had specific goals they wanted to accomplish and Terry showed them the way. "It feels good that we're getting things in order, while we're relatively young and other people haven't thought about it,” says the wife.

Sun-Sentinel.com, April 12, 2004 – David Pearlman, CFP®, Principal of Emerald Lane Financial Planning of Sunrise, Florida, was quoted in Humberto Cruz’s syndicated column in an article called “Some Financial Planners Aid Even Novice Investors.” Pearlman provided general retirement planning recommendations for a consumer in Florida. Pearlman, like all members of The Garrett Planning Network, makes himself available to everyone on an hourly, as-needed basis, and bases his fees only on the time he spends evaluating a client's financial situation and providing specific recommendations, never on commissions for products sold.

Financial Planning Magazine, April 2004 – Julie Lawrence, President of Lawrence Financial Planning in Tampa, Florida, was interviewed for her knowledge about insurance partners for financial planners. The author writes that many of the big insurance players have not taken a good, hard look at how to work with an increasingly consultative rather than transactional financial workforce. Lawrence agrees, "If traditional companies could work better with us, I would work with them." But since they don't, she is more than happy to work with Low Load Insurance Services, located in her own backyard in Tampa. Lawrence finds out what her clients want, gives them an idea of what insurance will cost, and then sends them to http://www.llis.com. "Clients I've referred them to are happy – the service is great, and it's less expensive than traditional insurance."

New York Sun, March 26, 2004 – Dean Knepper, a CERTIFIED FINANCIAL PLANNER™ professional with Lifetime Financial Planning in Herndon, VA, says that the Roth IRA allows some clients to grow assets without having yearly tax bill worries. And if they wish, they can start taking withdrawals at age 59 ½. If they don’t want to touch it, they don’t have to, as there is no mandatory withdrawal age. “Of course,” Knepper said, “some clients don’t concern themselves with those attributes, focusing on the fact that income withdrawn from the Roth IRA is tax-free.” Roth IRA income will not send an otherwise low tax-bracket couple careening into the Donald Trump bracket. In short, it is like finding a lot of money in your pants pocket every year.

Baltimore Sun, March 14, 2004 – In "Educated Eye for the Ordinary Guy: Wall Street meets Main Street as Advisers Reach for Middle Class," reporter Eileen Ambrose writes about a do-it-yourself investor who decided last fall to hire a financial planner to make sure he's on target to meet his goal of retiring in a few years. The 54-year-old Baltimore social worker wanted an adviser who charged a fee for services, rather than one who worked on commission and made money by pitching products. One planner required his clients to have at least $2 million in assets. Another's limit was $5 million. "I was stunned about how few [advisers] there were for middle-class people," he said. Many middle-income households are in a similar situation.

The Baltimore social worker ended up hiring James Ludwick, CFP®, an Odenton, Maryland, planner who belongs to The Garrett Planning Network. Ludwick used to work for a money manager that handled million-dollar accounts. "I decided there were more people underserved in the middle class," Ludwick said. "I thought they would be willing to pay a reasonable amount for my time to avoid making major mistakes that would cost them a lot of money." Ludwick meets with clients for an hour for free and gives them an estimate of how much time he'll take on their finances. His hourly fee is $180. Clients also can call Ludwick to get their questions answered for free the first Friday of each month. The retiring social worker said his retirement check-up cost about $600 – and concluded it was worth the cost. "Jim helped me allocate my assets to maximize my chances of retiring soon," the client said.

Financial Advisor, March 2004 – In “Serving the Middle Market from a Lofty Perch,” Ed Powell, CFP®, was featured as the financial planner to go to for fee-only, hourly financial planning services in the Columbia, SC area. Many individuals do not meet the high account minimums required by wealth managers and/or they may not feel they need that level of service. Like his fellow GPN Members, Ed Powell provides professional, affordable advice on an as-needed basis. He does not take assets under management, nor earn commissions from sales of financial products, yet, he says, “I am committed to providing quality financial services to middle-income Americans, not just the wealthy.”

ePregnancy, March 2004 – Kathy Dollard, CFP®, President of Nashoba Financial Planning in Boxborough, MA, was interviewed for her knowledge of Section 529 College Savings Plans in “Off To School – What You Really Need to Know about 529 Savings Plans.” The author encourages potential investors to do their homework, and Dollard concurs. In addition to federal income tax benefits, some states also provide tax incentives. “You are not constrained to your state of residence,” says Dollard. “Massachusetts, for instance, does not offer a state tax benefit for utilizing its plan, which suggests that Massachusetts residents should consider other plans as well. Look at the investment options, sub-accounts, mutual funds, age-based options and fees,” she urges. “What is in the fine print?”

Wall Street Journal, February 2004 – Garrett Planning Network members Bryan Clintsman, CFP®, of Southlake, TX, Eileen Freiburger, CFP®, of El Segundo, CA, Steve Thalheimer, CFP®, of Silver Spring, MD, and Sheryl Garrett, CFP® and GPN Founder, of Shawnee Mission, KS, were featured in “Planning to Change Jobs? Get in Fit Financial Shape. These financial planners provided advice for planning ahead to minimize the financial impact of changing jobs. “An hourly, fee-only planner can help you evaluate your current financial position and make informed decisions to decrease the risks involved with changing jobs or starting a new career,” said Garrett.

Consumer Reports – Money Adviser, February 2004 – Whether you're planning your retirement or already living it, a time-honored tool called a spending log can help you get a firmer grip on your finances. “People always find things they can cut back on," says Dean Knepper, a CPA and CERTIFIED FINANCIAL PLANNER™ professional in Herndon, VA. What to do with the extra cash? Knepper suggests that pre-retirees "increase 401(k) contributions so they at least get the full company match. Then, if they are eligible, fund a Roth IRA. "Do that and you won't have to worry as much about your retirement spending when the day finally comes.

Investment Advisor, February 2004 – This year’s crop of inspiring financial planner newcomers breaks the standard mold of financial planners, writes Karen Hansen Weese of Investment Advisor Magazine. GPN Member Steven Young, CFP®, of Springfield, Missouri, was featured as one of only three financial advisors profiled in “The New Faces of Financial Planning.” For 20 years, Young owned and operated a family farm, but when he could not find the financial advice that he needed in his own life, he decided to become a financial planner himself. Young now charges an hourly rate to his clients to provide advice on wide range of financial planning topics. He’s hoping bring affordable advice many people as possible. “I don’t the world,” he says with a smile, “but I do intend to change my community.”

Birmingham Business Journal, February 24, 2004 – Garrett Members Joe Bedingfield, CFP®, owner of Bedingfield Financial Planning, LLC and Scott Cole, founder of Cole Financial Planning, both of Birmingham, Alabama, were featured in “Financial Planning for More than Deep-Pocket Crowd.” With changes in pension benefits and concerns over Social Security leaving more retirement-planning decisions in the hands of individuals, consumers are finding themselves increasingly in charge of their own financial futures and, in need of financial advice. Bedingfield and Cole are helping to fill that need in a way that is accessible to a wide range of clientele. In addition to hourly, no commission structure enables them to provide objective advice. "When I do recommend a product, it means a little bit more," says Bedingfield.

The Greenville News, February 15, 2004 – Larry Ayers, CFP®, of Ayers Financial Advisors in Greenville, SC, was interviewed for a feature article, “401(k) – Maxed out? Experts say Workers Need to Commit More to 401(k) plans.” Workers are not putting as much money into their 401(k) plans as they should, and Ayers points out that too many young workers think they have many years before retirement and can put off investing until a later date, which becomes a major mistake. “With life expectancies in the 80 and 90 age range – and the possibility that Social Security will not be operational as we know it today – the need to maximize contributions to retirement plans is crucial.”

Investor’s Business Daily, February 9, 2004 – Deidra Fulton, president of Fulton Financial Planning in Plano, Texas was interviewed for her knowledge in mortgage refinancing. The author writes that since interest rates may be headed up, the window of opportunity for locking in relatively cheap rates may be closing. "Absolutely,” agrees Fulton. This is the time to stop thinking and starting acting. Rates are bound to rise. Consumers need to focus on the fact that interest rates are still low rather than talking themselves out of an opportunity to save money by thinking about the fact they missed the very lowest rates last year."

San Diego Union-Tribune, February 8, 2004 – Glenda Moehlenpah, CFP®, CPA, of San Diego, California, was chosen by the San Diego chapter of the Financial Planning Association to put together a financial plan for a couple who volunteered for help. The couple praised Moehlenpah's manner in working with them. "She was very clear," they said. "She explains things knowing what novices we are. She was just a marvel. I really think we got some sound advice." The couple doesn’t mind that Moehlenpah makes recommendations but is not doing their investing for them. "She's not getting any fees or kickbacks on what we buy," they said. "We felt comfortable with that."

Practical Accountant, January 2004 – In “Talk, More Talk, and Questions” Dean Knepper, CPA, CFP®, managing member of Lifetime Financial Planning, a fee-only planning firm in Herndon, VA, says that “usually by the time clients come to us, they know what their goals are. Our job is first to determine how important a particular goal is. We ask them to rank their goals in order of importance. Then second, we need to determine whether a particular goal of the client is realistic given the client’s financial situation and deadline for accomplishing the goal.” Knepper goes on to explain the process of prioritizing and achieving financial goals and dreams.

Consumers Digest, January 2004 – The conventional wisdom of not putting too much of your savings into any one type of investment holds especially true in 2004. "Investors should stay diversified and have a stock/bond allocation that they will stick with each year," says Dean Knepper, head of Lifetime Financial Planning in Leesburg, VA. "I would caution people not to dump their bonds for dividend-paying stocks if they can't stomach the risk," Knepper says. "There's less volatility involved in bonds." Knepper also says investors should keep their stock holdings in taxable accounts because of the tax benefits.

Financial Planning Magazine, January 2004 – Bruce Brinkman, CFP®, Founder of Brinkman Financial Partners in Rockford, IL, was featured in a cover story called “The Tables Turned.” As a fee-only, hourly financial advisor, Bruce specializes in working with middle-income families in Illinois. The article details how Bruce helped two of his clients fix “the little things can make a big difference." According to the clients, Bruce has helped them immensely. Because they had some disposable income, and it was “real easy just to go out and blow it. We're now held accountable. We have a plan to go on."

Daily Herald, January 23, 2004 – In “Financial Planner Keeps Eyes on Horizon,” Lee Spadoni, CFP®, of Naperville, Illinois, was featured as a financial planner who started her own business to meet the lifestyle she wanted as well as serve the best interest of her clients. In looking at options, Spadoni was interested in helping the "average" middle-income person plan their financial future. Spadoni now gives clients advice on a variety of topics including how much they need to save to send their children to college, retirement issues and household budgeting. Her mission statement is "to provide unbiased advice to people from all walks of life on an hourly, as-needed basis."

Star Ledger, January 18, 2004 – As the adage goes, where there's a Will, there's a way, writes Christine Baird. “That tired maxim, however, can have urgent meaning when it comes to a written Will.” In an article titled “Be Prepared,” Jim Christie, CFP®, founder of Freedom Financial Planning in New Jersey, discusses the importance of having a written Will. “For the most part, a Will is written to make things easier on those left behind. It is not so much about your property and money, it's for your kids and those you hold dear," Christie said. "It's like the MasterCard ad: priceless."