Road To Independence

One of the best things about being independent is the freedom to create the type of client-focused practice you can feel good about. Another benefit is the correlation between the effort you put forth and the rewards you receive, both monetarily and otherwise. This week I had a very positive experience with a somewhat wealthy client that I’d like to share.

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This week I updated a client’s financial plan and refined my financial planning template by adding an additional metric. I have added an output page entitled “Savings Rate” which calculates the client’s total savings rate and distinguishes between taxable and tax-deferred savings. Read the rest of this entry »

As long as I have been in this business, there have been periods of sowing and periods of harvesting. It is very rare–at least in my experience–to have a continual flow of new business week after week after week. Usually there are times when it seems all you are doing is filling out new account paperwork and times when the list of prospective clients is small. I’ve just finished a period of growth and now it’s time to ramp up the marketing efforts again.
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I’d like to share my views and get your thoughts on a specific part of the money management process. As I gain new clients for whom I manage money the list of securities I hold continues to expand. Although I have my “chosen” funds and ETFs, as client accounts transfer in from their former advisors’ firms, the number of funds I hold gets larger and larger.
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