Although it will go largely unnoticed by most consumers, there has been a major change within the investment industry. All registered investment advisors must now provide a “Plain English” disclosure document to all clients and prospects outlining their business practices as well as any potential conflicts of interest. Some disclosure was required previously, but in a much less readable and less comprehensive way. Despite the mandate for advisors to write in “plai…

Like the 1970’s Eagles song “Take It to the Limit,” our political leaders are about to take it to the limit one more time. The national debt sits just a hairsbreadth from the statutory ceiling of $14.3 trillion. Unless Congress votes to raise the debt limit again, as it has done a number of times, the government could default on its obligations within the next couple of months. If that happens, the full faith and credit of the United States of America will never m…

Do you remember the prime-time hit game show hosted by Regis Philbin called Who Wants to be a Millionaire? If game contestants got in trouble answering a question, they had several lifelines to use. One lifeline was to “phone a friend” for the answer. Every so often, I learn that a client has deviated in a significant way from the game plan that we had formulated together. They forgot their “phone a friend” option. For example, a client might hire a high-priced in…

When new clients come to me for help in their implementation of an investment plan, I go through five major steps. Whether you intend to design and manage your own portfolio - or hire me as your personal consultant, it would help you to know the key steps for building a successful investment plan. The acronym G•R•A•S•P is a good way to remember the process: G - Goal identification R - Risk assessment A - Asset allocation S - Select investments P - Performanc…

In September 2010, I was quoted in the on-line edition of Financial Advisor Magazine in an article titled Pension-Style Investing Limits Individuals. Despite the title, I believe just the opposite is true. I think many individuals would do well to emulate pension plans. In order to get a good combination of growth and income, institutional money managers have traditionally held a moderate allocation between stocks and bonds. With responsibility for so many partici…