2023
Frankel Fiduciary Prize Honors Sheryl Garrett
I have known Sheryl Garrett for almost two decades, and it is an honor to recognize her for outstanding achievement in the field of fiduciary financial advice. As a truly committed fiduciary entrepreneur, Sheryl shines as a guiding light to the industry; a beacon on a hill for others to follow. Sheryl has created an exemplary, groundbreaking organization whose very purpose is to deliver the benefits of true fiduciary advice to every citizen who seeks it. Her career parallels two other groundbreaking fiduciary entrepreneurs: Vanguard’s Jack Bogle and B.U. law professor, Tamar Frankel. Both followed their vision. Both were fierce fiduciary entrepreneurs and leaders. Just as Sheryl Garrett has followed hers.
Sheryl Garrett Attends Presidential Remarks at the White House
Garrett Planning Network (GPN) founder Sheryl Garrett was honored to receive and accept an invitation to the White House. She attended Remarks by President Biden on Protecting Americans’ Retirement Security in the State Dining Room on Tuesday, October 31.
President Biden noted that although most financial advisors give honest, good advice to clients at a fair price, this isn’t always the case. “Some advisors and brokers steer their clients toward certain investments not because it’s the best interest of the client; because it means the best payout for the broker.”
To counter these bad actors, the Department of Labor is proposing a new rule stating all financial advisors giving retirement advice or selling retirement products such as annuities have a “fiduciary duty” to do so in the est interest of the client. “If they breach their fiduciary duty, they could face serious penalties, including having to pay restitution and additional financial penalties. The action we’re taking today is, I believe, long overdue.”
My Financial Advisor Just Became a Fiduciary But I’m Getting Charged More in Fees. Should I Switch? - July 12th, 2023
Garrett Planning Network: Hourly Advice Without a Long-Term Commitment
Even if you need very occasional advice on financial planning (or something similar), you can try the Garrett Planning Network. Enter your ZIP code and you’ll get a list of fee-only fiduciaries near you.
Garrett’s member advisors provide financial planning and investment advice on an hourly, as-needed basis.
2021
4 Steps to a Happy Single Retirement, Kiplinger.com, April 8, 2021
The Garrett Planning Network lists advisers who don’t require any asset or income minimums for their clients.
Read article here.
How Much Does a Financial Advisor Cost?, 104.6 WOKV, February 24, 2021
Clark.com Recommends: The best way to find a local fee-only fiduciary is through the Garrett Planning Network. Just enter your ZIP code to find financial advisors near you that are fee-only, charge by the hour and are accessible to almost everyone.
Read article here.
How the pandemic made working with a financial planner easier, Los Angeles Times, April 4, 2021
There are now fee-only planners who work on an hourly basis (such as those affiliated with Garrett Planning Network)...
Read article here.
Want to get into investing? Start with these free stock trading platforms, CNBC, June 23, 2021
When you start your search, you can ask your trusted friends and family members for recommendations. Other sources include searching through the National Association of Personal Financial Advisors and The Garrett Planning Network. Read article
2020
Time Is Running Out to Minimize Future Taxes. Here’s How to Do It, Barron's, December 5, 2020
The bottom line for taxpayers, says Randy Gardner, a Las Vegas CPA and director of education for Garrett Planning Network, is to use the same rigor in Cares Act planning as is typical in year-end tax planning: Adjust tax obligations so they are reduced as much as possible and handled at the most opportune time.
Read article here.
How to have a baby, even if you’re worried you can’t afford it, Vox, February 7, 2020
“I hate to think of people missing out on the joyhood of being a parent, if they want to be a parent, because of money,” says Sheryl Garrett, a veteran financial adviser and founder of the Garrett Planning Network. “We always find a way to make ends meet.”
Read article here.
You've Got Personal Finance Questions. We've Got Answers., December 29, 2020, The Motley Fool
So the two places I always recommend are the Garrett Planning Network. That's G-A-R-R-E-T-T. I know many of the Garrett planners, I've been to their conference many times. Solid, solid people.
Read article here.
5 Financial Resolutions You Can Make Right Now, AARP.com, December 21, 2020
And keep some of your money at home, in both large and small bills, suggests Sheryl Garrett, founder of a network of financial planners. Who hasn't needed cash to pay or tip people who are delivering meals or helping out in other ways?
Read article here.
What Retirees Should Know Before Buying a Vacation Home, January 18, 2020, Barron's
Still, one thing to keep in mind from the outset is that you shouldn’t view a vacation home primarily as an investment, says Tom Fredrickson, a New York financial advisor who’s part of the Garrett Planning Network.
Read article here.
67-year-old retiree with just $83K in savings wonders about returning to work, The Seattle Times, January 7, 2020
A fee-only advisor — one who is paid only by clients’ fees, rather than by commission — could help you review your options. The Garrett Planning Network offers referrals to fee-only planners who charge by the hour.
Read article here.
Here’s how to finally start investing in 2020, CNBC.com, January 3, 2020
“Patience is an important lesson to learn for young investors. They want to see quick results,” says Randy Gardner, an adjunct professor of financial planning at the American College of Financial Services and financial coach with the Garrett Planning Network of financial planners.
Many other Garrett Network members are quoted in this article as well.
How to Find a Financial Advisor if You're Not Rich, U.S. News & World Report, July 21, 2020
Garrettplanningnetwork.com offers a map of the United States where users can click on a state and find a listing of financial advisors who cater to the middle class.
Read article here.
Ask yourself 3 questions before jumping into the stock market in 2020, CNBC.com, January 3, 2020
“Many investors jump right in and put their money immediately at risk,” says Randy Gardner, an adjunct professor of financial planning at the American College of Financial Services and financial coach with the Garrett Planning Network of financial planners.
Read article here.
2019
FINANCIAL PLANNING FOUNDERS STARTED A MOVEMENT — AND CREATED A PROFESSION By InvestmentNews Staff — September 14, 2019
Before Sheryl Garrett put her stake in the ground on the issue about two decades ago, the notion of providing financial advice on an hourly basis was virtually unheard of.
Read article here.
InvestmentNews announces 2019 Innovation Awards winners Sheryl Garrett is this year's InvestmentNews Icon, Investment News, April 17, 2019
The event, which was attended by about 220 people representing all spheres of the financial advice industry, also honored Sheryl Garrett, the founder of the Garrett Planning Network, as the 2019 InvestmentNews Icon.
Read article here.
Interested in Cash-Out Mortgage Refinancing? Here’s What You Need to Know, Barron's, December 21, 2019
“You’re putting the risk on your house,” says Tom Fredrickson, a New York City financial planner in the Garrett Planning Network.
Also, experts say to stay away from deploying the cash for frivolous spending like vacations. “You should use the money in a way that would be an investment rather than an expenditure,” Fredrickson says.
Read article here.
These Are the New Rules for Finding a Financial Advisor You Can Trust, Money, August 13, 2019
If you don’t need consistent money management, consider hiring an hourly-fee planner like those in the Garrett Planning Network, as paying 1% of your total assets can add up, and you might not be receiving services equal to such a sum.
Read article here.
How to Pick a Financial Planner Who's Right for You, The Motley Fool, August 12, 2019
The places we often say you can go find a fee-only financial planner are the Garrett Planning Network, National Association of Personal Financial Advisors (NAPFA), or our very own Motley Fool Wealth Management.
Read article here.
What Women Want in a Financial Adviser, Kiplinger, October 3, 2019
Kiplinger’s generally recommends starting your search with two sources: the Garrett Planning Network, members of which are willing to work on a fee-per-hour basis, and the National Association of Personal Financial Advisors, which lists a range of fee-only financial advisers. Beyond that, however, connecting with the right counselor is a very personal decision—especially for women.
Read article here.
IRAs Offer You More Flexibility for Early Withdrawals Than 401(k)s, Money, September 25, 2019
“Credit card people will come knocking on your door and make you repay that debt, but no one is going to knock on your door and make you repay yourself the money you took out of your IRA,” Garrett says. The best way to build up your retirement nest egg is to have the money automatically deposited there from your paycheck every month, so if you end up withdrawing money from your IRA prematurely, you can put it back in on the same schedule, Garrett suggests. (You can direct your bank to make automatic contributions to your IRA on payday, for example.)
Read article here.
Garrett Planning Network expanding to India, InvestmentNews, January 14, 2019
The Garrett Planning Network, which promotes making financial planning available to the masses by charging hourly fees, is slated to launch a version of the network in India early this year.
Read article here.
ICONS & INNOVATORS, Investment News, February 4, 2019
“It’s taking a little longer than I initially thought, and at this point I don’t see hourly pricing taking over in the next 10 years, but I believe it will happen within my lifetime,” she said. "I still see hourly fees as the next big wave of service to clients in financial planning.”
Read article here.
You've got the new house! Now, how do you afford to furnish it? , May 9, 2019
Earmarking savings for furniture can help homeowners pay for it in cash. And that’s the “absolute best way” to buy, says Justin Nichols, certified financial planner and director of operations at Garrett Planning Network.
Read article here.
Women in Finance - Opening up a whole new world of possibilities, webindia123.com, February 20, 2019
Life & Money, an innovative, holistic, digital platform with a vision to empower Indians to lead a 'rich' and 'balanced' life, and Garrett Planning Network, USA whose mission is to make competent, objective, financial advice accessible to all people; announces its collaboration to launch an exclusive 'The Women Financial Advisers Network', a first of its kind in India.
Read article here.
How Many Mutual Funds Are Too Many?, The Wall Street Journal, September 6, 2019
“You should try to cover much of the market, but try to do it efficiently, without duplication,” says Tom Fredrickson, a financial adviser in New York who’s part of the Garrett Planning Network. “I would think longer about adding a fund than subtracting one,” he says. “You want to make sure it’s really adding diversification.”
Read article here.
Motley Fool Answers Mailbag: Your Eyes Are on the Retirement Prize, The Motley Fool, August 12, 2019
At Garrett they call it the free "Get Acquainted" meeting. You talk about what you're looking for. They can tell you whether they provide it and then you can choose a fit.
Read article here.
How Many ETFs Should I Invest in for a Diversified Portfolio?, EFT Trends, September 12, 2019
“You should try to cover much of the market, but try to do it efficiently, without duplication,” Tom Fredrickson, a financial adviser part the Garrett Planning Network, told the WSJ. “I would think longer about adding a fund than subtracting one. You want to make sure it’s really adding diversification.”
Read article here.
Life & Money and The Garrett Planning Network USA Announce Their First in a Series of Roadshows to Celebrate International Women's Day, Business Standard, March 5, 2019
In these roadshows, Life & Money, an innovative, holistic, digital platform with a vision to empower Indians to lead a 'rich' and 'balanced' life, and Garrett Planning Network, whose mission is to make competent, objective, financial advice accessible to all, are collaborating to launch an exclusive 'The Women Financial Advisers Network' , a first-of-its-kind in India.
Read article here.
How to Beat Pesky Fees, Kiplinger.com, December 27, 2019
Advisers in the Garrett Planning Network offer services on an hourly basis and typically charge about $180 to $300 per hour.
Read article here.