Read what the press has to say about Garrett:
A CFP can help you create a financial plan. If you need someone to do a one-time review of your finances to ensure you’re on the right track, look for a planner who charges by the hour — such as a member of the Garrett Planning Network.
Money Magazine, December 28, 2016 issue
It’s not always easy to find a fee-only financial planner who will help with budgeting and debt repayment. Many advisors cater to high net worth individuals who typically don’t have the same cash-flow issues as middle Americans.
The Garrett Planning Network offers referrals to fee-only planners who charge by the hour at www.garrettplanningnetwork.com. These advisors have the certified financial planner credential and, unlike many other fee-only planners, don’t have minimum asset requirements for new clients. You can interview a few prospects by phone to get an idea of the cost, but expect to spend at least a few hundred dollars to get started and then hourly fees for ongoing help.
Los Angeles Times, December 11, 2016 issue
You can look up advisers who hold the CFP credential at www.letsmakeaplan.org or find fee-only advisers at www.napfa.org. Both databases let you search by zip code. Don’t have a sizable (or even measurable) net worth? You can search for a CFP who requires no asset or income minimums through the XY Planning Network, whose members focus on Generation X and Generation Y clients, or the Garrett Planning Network—a great option if you want a one-time check-up, because its planners charge by the hour and require no long-term commitment.
Kiplinger, August 2016 issue
The advisor you want won't be found at your doorstep or in your email box, begging for your business. The best planners are too busy advising to run after lottery winners. You can find referrals to fee-only planners at the National Assn. of Personal Financial Advisors (www.napfa.org) and the Garrett Planning Network (www.garrettplanningnetwork.com). Interview at least three and make sure they're willing to sign a fiduciary oath to put your interests first.
Los Angeles Times, July, 17 2016
Look for fee-only advisers in your area at napfa.org, letsmakeaplan.org or plannersearch.org. Then prepare a standardized list of questions. Handy templates are the financial-adviser interview questionnaire at garrettplanningnetwork.com and “Questions to Ask in Your Search” at plannersearch.org. Email the advisers on your list and ask them to send back a signed copy of their answers.
Wall Street Journal, June 4, 2016
Until the fiduciary rule is fully in force, one way to ensure you hire a fiduciary is to work with a “fee-only” financial planner. These professionals charge only for their advice and they don’t earn commissions based on the investments you choose.
Good sources to find fee-only financial advisers are the National Association of Personal Financial Advisors and the Garrett Planning Network.
Sheryl Garrett says it's also a good idea to ask a potential financial adviser to sign a fiduciary oath from the Committee for the Fiduciary Standard, which advocates in favor of fiduciary advice. “Ask the adviser if he is going to be a fiduciary 100 percent of the time," says Garrett. "If he can’t agree, keep looking for someone else.”
Consumer Reports, June 3, 2016
The industry says [fiduciary] requirements will raise costs and possibly deny advice to “small investors.” But Sheryl Garrett, founder of the nationwide Garrett Planning Network of financial advisers, which does not charge commissions or base fees on the amount of assets, says: “We’ve been acting as fiduciaries for 16 years, serving clients of all types. The cleanest and easiest way to minimize conflicts of interest is simply to charge for your time.”
Chicago Tribune, May 26, 2016
If you need help creating a plan to reach your saving goal, start by asking if your employer offers access to investment advice as part of your benefits package. Otherwise, consider meeting with a financial planner. You can find planners that charge by the hour, such as those in the Garrett Planning Network, or search online at GuideVine.com or NAPFA.org, the website for the National Association of Personal Financial Advisors.
GOBankingRates, May 18, 2016
If I, or a family member, absolutely required professional financial advice, I’d start with the advisers at my most trusted, consumer-oriented companies: Vanguard or USAA. If I needed to find a local adviser, I’d use the directories at the NAPFA or Garrett Planning Network sites.
Time/Money, April 21, 2016
Dear Liz: You frequently suggest consulting a fee-only financial planner, such as those who are members of the Garrett Planning Network, which seems like great advice.
Los Angeles Times, April 17, 2016
Check to see if your employer offers any financial or investment advising services as part of your benefits. Or find a fee-only financial planner through the National Association of Personal Financial Advisors. If you just need to meet with a planner a few times to get on the right track, some planners charge by the hour, such as those in the Garrett Planning Network, a nationwide group of independent, fee-only financial planners.
GOBankingRates, April 17, 2016
In April 2015, Sheryl Garrett, founder of the Garrett Planning Network, Inc., said without the long awaited rule from the Labor Department, many workers and retirees would be "vulnerable to brokers who are not legally obligated to put their client's best interests first." (U.S. Department of Labor)
The Washington Post, April 6, 2016
Fee-only financial advice is becoming more dominant, with the most common approach being fees based on assets under management. Yet hourly advising remains relatively rare. I believe it is a viable model, though I must disclose that I have always used this approach.
To better understand the hourly model, I looked at the Garrett Planning Network, the largest network of planners predominantly charging hourly fees.
Wall Street Journal, March 23, 2016
To reduce angst, hire a financial adviser, preferably one with the Certified Financial Planner designation. The national groups of financial planners that offer searchable databases: the National Association of Personal Financial Advisors, The Garrett Planning Network, the Financial Planning Association and the Certified Financial Planner Board of Standards.
Next Avenue, March 17, 2016
The most transparent business model is fee-only financial advisors. Since they only receive compensation and fees directly from their clients, there is no incentive to recommend high-cost investments and they are not limited to products and solutions that pay commissions. To find a fee-only advisor, consider the National Association of Personal Financial Advisors, Garrett Planning Network and XY Planning Network.
U.S. News & World Report, February 26, 2016
Fee-only planners charge their clients in a number of different ways. What distinguishes them is the fact that they are only compensated by their clients; they don't accept commissions from the products or services they recommend.
Some fee-only planners charge by the hour, which is helpful for people just starting out or those who need targeted help, such as advice on their retirement portfolios. You can get referrals to fee-only planners who charge by the hour from the Garrett Planning Network at www.garrettplanningnetwork.com.
L.A. Times, February 13, 2016
Hire a financial adviser. Others agree, but add their own spin to that advice. "The best advice I can give is to work with a financial adviser who has chosen to avoid most conflicts of interest, by being 'fee-only,'" said Rhoades. And the best way to find such advisers, he said, is through organizations of fee-only advisers:
National Association of Personal Financial Advisors (http://www.napfa.org)
Garrett Planning Network (http://www.garrettplanningnetwork.com)
Morningstar, January 20, 2016
The best way is to try to find someone who gives advice in your best interest. That’s called the fiduciary standard. When you meet with a financial planner or someone who is giving financial advice, you’re going to have to ask about that. There doesn’t seem to be any way around that.
People who don’t have to give advice in your best interest, who work to what is called the suitability standard, simply don’t have to tell you that. So you’re going to have to ask.
That’s the most important part here. Then, of course, there are organizations -- not organizations, that’s the wrong word -- there are outfits where you’re going to get those people. National Association of Personal Financial Advisors, that’s one. The Garrett Planning Network, that’s another. But you always, always, always have to ask. Never assume.
Huffington Post, January 5, 2016
I used the Garrett Planning Network and the XY Planning Network to find some fee-only financial planners for free initial consultations. "Fee-only" means you pay them a sum of money, which may be a flat fee or a percentage of your assets which you are putting under their management. Ask to make sure your adviser doesn't take any commissions from anyone else, and that they swear a "fiduciary oath" that they are acting only in their clients' financial interests. ("Fee-based" sounds similar to "fee-only," but a fee-based financial planner can still collect commissions from companies that market financial products.)
Chicago Tribune, December 22, 2015
Although most financial advisers prefer clients of substantial means, some charge nominal hourly fees and are happy to take on younger customers (who, ideally, will turn into clients of substantial means). These include XY Planning Network, which specializes in assisting GenX’ers and GenY’ers, and Garrett Planning Network, whose advisers have no income or investment account minimums.
Forbes, December 17, 2015
Work only with financial planners who will charge for their time or advice and who serve as fiduciaries, meaning they are required to put your interests first. Certified financial planners can be found through the National Association of Personal Financial Advisors and the Garrett Planning Network.
New York Times, December 4, 2015
Garrett Planning Network (garrettplanningnetwork.com). This national network of financial advisers includes only fee-only planners who charge by the hour. They’re especially good at helping clients with smaller projects, such as determining how much life insurance they need or whether it makes sense to refinance a mortgage. Most of the organization’s members are CFPs.
Boston Globe, December 4, 2015
Sheryl Garrett on the importance of making impartial financial advice accessible to all
How she created a successful hourly financial planning firm for the average person despite early mistakes
Sheryl Garrett loves financial planning now, but it took 11 years' working in the industry for the passion to bloom. The founder of the Garrett Planning Network . . . .
InvestmentNews, November 21, 2015
Planning for retirement has many pitfalls. Following these tips can help you avoid the most common and costly mistakes investors make. If you’d like further guidance, get personal help from a professional. A good choice would be advisors who work by the hour such as those in the Garrett Planning Network.
Christian Science Monitor, November 6, 2015
And a related organization is the Garrett Planning Network. And you’ll see a lot of crossover. A lot of folks who belong to Garrett are also part of NAPFA. And we like them because they are fee-only financial advisors. They charge either an hourly fee, a project fee, or an assets-under-management fee. They do not charge by commission, because that can introduce some conflicted advice into the relationship.
Motley Fool Answers Podcast, November 4, 2015
Finding a planner who charges by the hour is relatively simple, and the Garrett Planning Network is a good place to start, but that's not to say your task is easy.
Chicago Tribune, November 3, 2015
To find a fee-only adviser, I generally recommend the websites provided by NAPFA and the Garrett Planning Network.
NPR, October 19, 2015
Also, you can find fee-only planners willing to work with you for just an hour or two by visiting the website of the Garrett Planning Network: garrettplanningnetwork.com.
Pueblo Chieftain, October 17, 2015
But [U.S. Labor Secretary] Perez pointed to companies like Wealthfront, Personal Capital and Garrett Planning Network as examples of firms that are already acting in their clients’ best interests and still turning a profit. In fact, in discussions Perez has had with these companies, they’ve regularly said, “give small savers my number.”
Wealth Management, October 16, 2015
The Financial Planning Association, which holds its members to a fiduciary standard, has a referral service on its site. Or you can look for a Certified Financial Planner right here at Bankrate. Other sources for such planners include Garrett Planning Network (whose members typically charge by the hour) and the National Association of Personal Financial Advisors.
Bankrate, October 15, 2015
But where you get that second opinion is important. It’s best to work with a Certified Financial Planner and who does not sell products. To find such an advisor near you, check out the Garrett Planning Network or the National Association of Personal Financial Advisors.
NerdWallet, October 5, 2015
Garrett Planning Network. This national network of financial advisers includes only fee-only planners who charge for advice by the hour. They’re especially good at helping clients with smaller projects, such as determining how much life insurance they need or whether it makes sense to refinance a mortgage. Most of the organization’s members are CFPs.
Consumer Reports, October 2015 issue
“There’s a preconceived notion that to engage, you need a minimum net worth of $1 million. That’s not true at all,” FPA president Edward Gjertsen II told me. “It may take a little longer to find, but there are plenty who charge annually or hourly, not just AUM [Assets Under Management].”
I’m not sure I’d agree with “plenty.” But there is Garrett Planning Network, with 300 independent fee-only planners typically charging $180 to $300 an hour; the fee-only, virtual XY Planning Network (it specializes in Gen X and Gen Y clients) and the 2,400-member fee-only planners group, National Association of Personal Financial Advisors.
Next Avenue, September 30, 2015
For a directory of CFPs, you can check the CFP Board's site or the Garrett Planning Network, which lists more than 300 independent, fee-only financial planners.
CNBC, September 29, 2015
Many financial planning writers and consumer organizations recommend the “fee-only” approach since it helps reduce the conflicts of interest associated with commissions. The two organizations most often recommended are the Garrett Planning Network and the National Association of Personal Financial Advisors, since members are fee-only advisors.
NerdWallet, September 29, 2015
On the flipside, if you radically alter your lifestyle to accommodate a one-income budget and still save for retirement, the payoff can be rewarding as well as enriching.
"Having one income forces (a couple) to step outside the stereotypical mold," said Sheryl Garrett, a financial planner and founder of the Garrett Planning Network. "They can eliminate a car and enroll in fewer costly activities, and the tradeoff is doing more together as a family."
Chicago Tribune, September 28, 2015
Only 16 percent of respondents said financial advisers have provided them with information about Social Security retirement benefits.
“I’m disturbed by this number, but I’m not shocked,” Sheryl Garrett, founder of the Garrett Planning Network, which serves middle-income people, told me.
Next Avenue, September 28, 2015
You can find some planners that charge by the hour, such as those in the Garrett Planning Network. It is usually best to stick with fee-only planners who do not work on commission.
GOBankingRates, September 20, 2015
A major advocate for the new rules is Sheryl Garrett, CFP, who is a director of The Garrett Planning Network, which has a nationwide membership of over 300 independent, fee-only financial planners who provide advice without minimum account requirements, sales commissions, or long-term commitments.
“Our members proudly embrace their fiduciary duty, always placing their clients’ best interests first,” said Garrett, who is based in Arkansas. “If you need only 20 minutes of investment advice, that is all you pay for. If your needs are more complicated, you still likely pay far less than with a sale based on a commission.”
Mississippi Business Journal, September 17, 2015
"Truly fee-only advisors, such as GPN (Garrett Planning Network) members, are a great choice for individual investors. Because they avoid nearly all conflicts of interest, their advice is truly unbiased," said Ronald Rhoades, a Bowling Green, Ky.-based CFP.
Investors.com, September 16, 2015
You also need to know what sort of relationship you’re seeking, whether it’s something short-term, long-term or something in between. For example, if you just need someone to do a one-time review of your finances to see if you’re on the right track, look for a planner who charges by the hour on a fee-only basis, such as a member of the Garrett Planning Network.
GOBankingRates, September 6, 2015
There are some associations that also provide names of planners. The Financial Planning Association (FPA) is by far the largest group of planners. Then you have Garrett Planning Network. These planners charge by the hour and will help with a single issue.
CBS Boston, September 4, 2015
Sheryl Garrett is one of the advisory world's leading proponents of an hourly rate payment model (and has appeared on Investment Advisor's IA 25 several times). “I argue that most Americans — well over 80% — need occasional advice rather than a full-time financial planner/advisor/manager, nor can they justify the cost,” said Garrett, a CFP. “The simplicity and clarity of an hourly fee is much easier on everybody. It's easy to describe, and there are no barriers to entry” in the form of minimum asset requirements.
Early on, Garrett discovered that this payment model attracted beginners, middle-income clientele and “validators” — do-it-yourselfers who may have already done a good job of investment planning. Fearing to be sold investment products or investment management services they weren't interested in, this untapped market segment resisted consulting advisors about such issues as a second opinion on their investment portfolio, developing a Social Security strategy, choosing the right homeowners insurance or financing their kids’ college education. With Garrett's hourly model, they could simply ask, “What will it cost me for what I want done?”
ThinkAdvisor, August 31, 2015
You can search for a fee-only financial planner (which means they don’t work on commission) through the National Association of Personal Financial Advisors site. Or you can find hourly-based, fee-only planners through the Garrett Planning Network. Also take advantage of any professional investment advice services that might be available through your workplace retirement plan.
Nasdaq.com, August 19, 2015
And you don't have to pay an annual fee. "There are planners who charge by the hour, such as many in the Garrett Planning Network and the National Association of Personal Financial Advisors," says New York City-based financial adviser Tom Fredrickson, who's a member of both groups.
Bankrate.com, August 12, 2015
The Garrett Planning Network represents about 300 independent fee-only financial planners nationwide who charge by the hour. Some also offer “retainer or asset-under-management-type services,” but “the majority of what we do is more limited-scope, as-needed planning,” said founder Sheryl Garrett.
San Francisico Chronicle, July 29, 2015
Also, consider using a fee-only adviser who charges by the hour. You can find such advisers at NAPFA.org and The Garrett Planning Network (garrettplanningnetwork.com).
USA Today, July 11, 2015
“You want to find an advisor who has a strategy and fee structure you can understand and believe in,” Criscuolo says. “A relationship with a financial advisor should be based on trust, and having a clear fee structure should be part of building that trust.”
If all of that sounds a bit frightening, [Folio Institutional President, Greg] Vigrass notes that there is a cohort of investment advisors -- Vigrass cites Garrett Planning Network as an example -- that operates on almost an hourly rate. Instead of paying quarterly or monthly based on a percentage of your assets, you can have an initial consultation based on an hourly fee, get advice and plan for future investments and then go out and make those investments on your own. If necessary, you can follow up once a year or so without keeping that advisor on retainer.
Main Street, July 7, 2015
Until the new fiduciary rules are in place—advocates hope by early next year—a clear-cut route to engaging a fiduciary is to work with fee-only financial planners. They charge only for their advice; they don’t earn money based on what you buy. The Garrett Planning Network and the National Association of Personal Financial Advisors are good sources.
Consumer Reports, July 7, 2015
One key question for screening financial advisers: “Are you required to uphold the fiduciary standard?” What this means is that the adviser is required to put your financial interest – not theirs – first. If the answer is anything but “yes,” keep looking. Here are sources for fee-only advisers: The Garrett Planning Network, an association of fee-only planners.
MSN Money, July 2, 2015
Financial adviser Sheryl Garrett, founder of the Garrett Planning Network, remembers talking with a 62-year-old client about potentially needing to downsize her home and rent a smaller apartment.
"When we finally got to the bottom of it, we realized she wouldn't be saving much if she moved out and paid rent," Garrett said. "What she really needed was a live-in handyman, so she made a few upgrades in her basement and found a tenant who could pay a little rent and take over shoveling the walks, mowing the lawn and other jobs."
Chicago Tribune, June 22, 2015
Two membership groups, the Alliance of Comprehensive Planners and Garrett Planning Network, have several hundred advisers who charge hourly or annual fees.
Wall Street Journal, June 19, 2015
Mr. Perez's message was embraced by a human adviser, Sheryl Garrett, founder of the Garrett Planning Network.
“It's fabulous,” Ms. Garrett said. “I think what Secretary Perez was trying to do, and did well, was bring up the point that technology is enabling new entrants into the marketplace to fill this need.”
Mr. Perez's boss, President Barack Obama, shined the spotlight on Ms. Garrett at an event at AARP in February where Mr. Obama gave a strong endorsement to the DOL rule.
InvestmentNews, June 19, 2015
Sheryl Garrett spent years building her own business — giving people financial advice and charging by the hour. And then she set out to establish the Garrett Planning Network of financial planners, essentially a mutual help group of more than 300 men and women in the same business. It has flourished, and even President Barack Obama found time this year to praise Garrett by name as one “of a whole lot of financial advisers out there who do put their clients’ interests first” — and not one of those “gunslingers of the Wild West.” But are these Lone Rangers of the financial business about to be challenged by a really smart robot? “I expect that to be realized in the next five years,” Garrett tells OZY.
OZY, June 18, 2015
Beyond the CFP Board, a good place to look for a planner is the National Association of Personal Financial Advisors, which is the country's leading organization of fee-only planners. The Garrett Planning Network is a group of fee-only planners who make their services available to even the smallest clients.
Fox Business, June 5, 2015
But there are millions of less than affluent Americans who could desperately use good financial advice. (I realize a few firms, like Garrett Planning Network, cater to them, and robo-advisers typically charge less than traditional advisers.)
Forbes, June 3, 2015
Be strategic about your career. "Our greatest asset is our ability to earn money," said Sheryl Garrett, a Eureka Springs, Arkansas, fee-only financial adviser. Think carefully about what you want your future work life to look like, and invest time and money into getting there. Keep up your schooling and your skills, network via social media and professional organizations.
Reuters, June 2, 2015
One key question for screening financial advisers: “Are you required to uphold the fiduciary standard?” What this means is that the adviser is required to put your financial interest – not theirs – first. If the answer is anything but “yes,” keep looking. Here are sources for fee-only advisers: The Garrett Planning Network, an association of fee-only planners.
Money Talks News, May 29, 2015
For many people, staying at home vs. a long-term care facility is not only the more attractive scenario, it's also the only affordable one.
"A long-term care facility is not typically an option for a majority of Americans," said Sheryl Garrett, a certified financial planner and founder of the Garrett Planning Network. "People don't have the money for those kinds of things."
Instead, she sees growing numbers of families moving closer to each other and sharing the work of taking care of parents and grandparents.
CNBC, May 19, 2015
Despite the large 529 balances, some financial planners questioned Obama's investment choices.
"It's ironic that he's in the Bright Directions Illinois 529, which is sold through brokers, rather than the lower-fee, direct-sold Bright Start Illinois 529," said Dylan Ross, director of financial planning at the Garrett Planning Network, a nationwide group of fee-only financial planners.
CNBC, May 18, 2015
The debate over whether basing fees on AUM is what's best for clients has heated up since February, when President Barack Obama highlighted the work of Sheryl Garrett, founder of the Garrett Planning Network, which charges hourly for financial advice.
InvestmentNews, May 14, 2015
There are lots of ways to find advisers who are a good fit and loyal to you. Besides the NAPFA searchable database (http://findanadvisor.napfa.org/Home.aspx), Brown recommends several other networks of fee-only advisers:
The Garrett Planning Network lists lots of advisers who work on an hourly or project basis.
Chicago Tribune, May 12, 2015
Start to invest for your future, such as college, retirement or a second home. To get advice on goal setting, saving and investing, find a fee-only financial advisor who is a fiduciary (and will put that in writing). You can find such an advisor by searching NAPFA or Garrett Planning Network.
NerdWallet.com, May 11, 2015
Sheryl Garrett has seen a lot of advisors follow in her footsteps. Over 320 advisors across the United States are members of the Garrett Planning Network, offering fee-only advice on an hourly basis to middle-income clients.
InvestmentNews, May 10, 2015
Why not start your graduate off with a personal investment coach from the Garrett Planning Network? I’ve been a fan of the Garret Planning Network for a long time because they offer personal financial planning and investment advice at a reasonable cost.
WTOP, Washington, DC, May 7, 2015
Ideally, you want a financial adviser who is a fiduciary — that is, he puts your interests above his. If your adviser won't adhere to the fiduciary standard, it should be fun, at least, to watch him explain why not. Then go find someone who will. You can start with the National Association of Personal Financial Advisers' website (www.napfa.org), which will help you find a planner in your area. If you're seeking hourly advice, you might consider the Garrett Planning Network (www.garrettplanningnetwork.com).
USA Today, May 1, 2015
America Saves is another good resource for information on budgeting and saving. The Garrett Planning Network and the National Association of Personal Financial Advisors are good sources for locating a fee-only advisor that offers advice on an hourly basis.
The News & Observer, April 19, 2015
In addition to Mr. Kitces’s fledgling network of professionals, the Garrett Planning Network offers a much longer list of possibilities of advisers who are willing to work by the hour instead of by the month. They are certainly worth a look, as are the planners affiliated with the National Association of Personal Financial Advisers, though they will often work only with people who have many hundreds of thousands of dollars to invest.
New York Times, April 13, 2015
At the event, Mr. Obama highlighted a registered investment adviser, Sheryl Garrett, and praised her as being among advisers “who do put their clients' interests first.”
He then pivoted to slam brokers.
InvestmentNews, March 27, 2015
Stronger regulations are also needed to protect savers, said Arkansas-based certified financial planner Sheryl Garrett, founder of The Garrett Planning Network. "I would love to see regulation regarding a fiduciary standard for rollovers and distributions," said Garrett, who recently spoke on the subject at the Middle Class Prosperity Project forum hosted by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah E. Cummings, D-Md.
CNBC, March 27, 2015
Sheryl Garrett, a certified financial planner and founder of the nationwide Garrett Planning Network, explained: "There are so many different ways that custodians and financial service companies are receiving compensation. There are explicit fees, sure, but then the list goes on and on. Most people don't have any idea."
NBC News, March 25, 2015
Pioneering planner Sheryl Garrett is using her moment in the national spotlight to get planners on board with a fiduciary oath.
President Obama singled Garrett out for praise during a talk at the AARP last month discussing the obligations of financial advisors and their role in retirement planning. "The role of a financial advisor is one of the most important jobs," he quoted her as saying. "But there is a segment of the industry today that operates like the gunslingers of the Wild West. We don't have the rules and regulations to protect those who we're supposed to be serving."
"I couldn't have said it better myself," the president added.
Financial Planning Magazine, March 18, 2015
Ask a financial adviser to review your savings rate and your investments. Some advisers will do this for a nominal hourly fee. Resources include XY Planning Network, an organization of fee-only financial advisers who work with GenXers and GenYers, and Garrett Planning Network, nationwide network of independent, fee-only financial planners.
USA Today, March 14, 2015
Those who prefer a more human touch but are wary of commissioned-brokers can see if their employer offers access to unbiased financial planners or hire a fee-only advisor. Some good places to look are the Garrett Planning Network.
Forbes, March 13, 2015
Charging by the hour is gaining supporters, too.Sheryl Garrett, who started a network of hourly based, fee-only financial advisers in 2000, said it is the best way to serve middle-income households. “Focusing on middle-income clientele is where my heart and passion always have been,” said Ms. Garrett, whom President Barack Obama has recognized as an adviser who puts clients first. Such an approach can work especially well with these clients, who typically don't have many complicated planning needs. The Garrett Planning Network now has about 320 members.
InvestmentNews, March 8, 2015
Hourly fees do have their place. In fact, to better see this, think of them not in the “on the clock” sense [Michael] Kitces refers (and which inspires fear in the heart of anyone who has ever hired a lawyer). Rather, think of them as a project-based fee more akin to that charged by a home repair contractor. Sheryl Garrett, founder of The Garrett Planning Network, Inc. in Eureka Springs, Arkansas, says, “In many cases the hourly fee is most appropriate for financial planning, where there is no continuous investment advice and no investment discretion. Imagine it like working on a project. A project generally has a limited scope and a defined end point. In fact, although fees can be based on an hourly rate, we find clients prefer to know the entire cost of a specific project, so that’s what we quote them.”
FiduciaryNews, March 3, 2015
President Barack Obama singled out Sheryl Garrett as an adviser who puts clients' interests first in his speech Monday that backed tougher investment-advice standards for brokers who handle retirement plans.
“I want to emphasize once again, there are a whole lot of financial advisers out there who do put their clients' interests first. There are a lot of hardworking men and women in this field, and got into this field to help people,” Mr. Obama said at the AARP event in Washington. “They're folks like financial adviser Sheryl Garrett.”
Mentioning Ms. Garrett eight times by name, Mr. Obama said he was proud of her, and had the founder of the Garrett Planning Network stand up in the audience, which included between 150 and 200 people.
He also quoted her argument for stronger fiduciary rules, adding, “Couldn't have said it better myself."
“Sheryl says, 'The role of a financial adviser is one of the most important jobs. But there is a segment of the industry today that operates like the gunslingers of the Wild West. We don't have the rules and regulations to protect those who we're supposed to be serving,'” the president said.
InvestmentNews, February 24, 2015
Of course, some financial advisors are honest–President Obama called out Sheryl Garrett, founder of a network of fee-only financial planners; but some are “selling snake oil,” he said.
Forbes, February 23, 2015
In the race that is managing one's money, a financial adviser is the coach. "If I want to run a marathon, I have to start walking around the block," said Sheryl Garrett, founder of the Garrett Planning Network. "The same is true with our money. Financial planners motivate clients to do what's in their best interest."An industry veteran of 28 years, she believes a financial adviser does much more than manage client portfolios. "Much of the value of what we do as financial advisers has nothing to do with investments," said Garrett. "We add value by identifying goals, threats and opportunities." That holistic approach can encompass advising on issues as disparate as college funding, tax planning or cash flow.
Investor's Business Daily, February 20, 2015
Low-income and middle-class Americans 'are not being served by brokers' as it is, [Committee for the Fiduciary Standard Chair Kate McBride] said, while 'many RIA firms are willing to step up' and offer various methods to make professional advice affordable to those groups, citing the Garrett Planning Network as one example....
ThinkAdvisor, February 11, 2015
Sheryl Garrett, an independent certified financial planner who runs the Garrett Planning Network, says her first question for new clients is often: What’s going on in your life?She inquires about a client’s income, debt, career plans, retirement accounts, what the money that may be invested will eventually be used for, if there are expenses on the horizon or a few years down the road, or family obligations they might have to take on. These types of questions can reveal deeper issues in our financial lives that the client may not even be aware of, she says. Garrett’s not opposed to people using robo-advisers, although she cautions that automated advice can miss the bigger picture – that the extra money we think we have might not be truly extra. Her advice: planning first, and maybe, if it still makes sense, Internet second.
Marketplace, February 6, 2015
Typically, fee-only certified financial planners (and their similarly credentialed peers) work with high net worth individuals. In other words, they’re expensive. One potential way to lower the cost is to check out the Garrett Planning Network. The Garrett planners are CFPs who keep the price of their advice down by breaking down the major financial questions into discrete tasks.
StarTribune, January 31, 2015
Another option is to search for a fee-only financial planner in your area who will review your progress toward financial goals. These sessions can cost from $500 to $1,000. A good place to find a planner is the Garrett Planning Network.
Chicago Tribune, December 1, 2014
Right now is a good time to consider rebalancing your portfolio, says Sheryl Garrett , founder of the Garrett Planning Network of financial advisers. After two strong years in the U.S. stock market, she points out, you might be 70% in equities and 20% in fixed income when you thought you were 60% and 40%.
Wall Street Journal, November 28, 2014
How can you save on something so fundamental? It's actually not difficult. A family of four can slash $240 from its monthly food budget by switching from pricey meals to lower-cost options, according to the U.S. Department of Agriculture.The key is to embrace culinary change rather than fearing it. "We can't be doing the same thing the same old way," says Sheryl Garrett, author of the "Personal Finance Workbook for Dummies." Store shelves are crammed with relatively expensive prepackaged convenience foods designed to save time, Garrett says.
Bankrate.com, November 18, 2014