Posts filed under 'Published Articles'

Should You Bank at Your Brokerage? – WSJ.com

 

By Kristin Grind – “J. David Lewis, the president and founder of financial adviser Resource Advisory Services in Knoxville, Tenn., recently sent in an application to open a checking account at Schwab Bank.

“While he says he will keep an account at Atlanta-based SunTrust Bank to avoid the hassle of changing his automatically deducted bills, he is happy to try out the higher-rate account.

“Internet banking has evolved to the point where I almost never need to go into a bank,” he says. “What are those things?”

Read the entire article via Should You Bank at Your Brokerage? – WSJ.com.

Add comment May 4th, 2012

How to Find Financial Planning Help – WSJ.com

Our Comment by J. David  Lewis – Believe it or not, I am glad to see services like these.  Many people need and deserve financial planning help.  Far too many have told us they didn’t think they had enough to be our clients, when we have been able to help them in many ways.  A minimum fee structure, instead of requiring a minimum portfolio, permits us to help several clients who now have growing resources.  We will do all we can to help those who are serious about improving their resources, even to the point of helping them find one of these services.

Low Cost Financial PlanningBy EMILY GLAZER

You dont need a high net worth or complicated investments to create a financial plan.

There are a crop of new resources that let you get financial-planning services on the cheap. For a flat or hourly fee, a certified financial planner can help you develop a savings plan, get your budget in order and pay down debt. Enlarge ImageClose Andy Rash

But keep in mind that you get what you pay for—so dont expect any of the bells and whistles of a full-service financial-planning or brokerage firm. Some financial planners dont offer any investment advice. And most of the consultations are done over the phone and via email. Whats more, some financial experts warn that this isnt a solution for every investor since the quality of financial advice can be limited. And you may want to do some due diligence on the financial planner you are considering.

See if these tools will be useful for you via How to Find Financial Planning Help – WSJ.com.

Contact J. David Lewis directly with dlewis@resourceadv.com or share your thoughts on this topic below. He founded Resource Advisory Services in 1985.  National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986.  He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family. 58522

1 comment April 1st, 2012

The Intelligent Investor: Are Index Funds Messing Up the Markets? – WSJ.com

Our Comment by J. David Lewis - There is more to money than money®And, there is more to investing than picking one (or a few) indexed mutual funds.  There is still art and the need for judgment in putting together a good portfolio, no matter what instruments you use.

By Jason Zweig

“As a result, investors are equipped with the itchiest trigger fingers ever in one of the touchiest periods in history. To blame the rise in correlation solely on indexing, they argue, is shortsighted.

With active stock pickers still stinking up the joint, indexing remains the cheapest, most convenient and most reliable way to capture the returns of just about any market.

But if the only index fund you own is linked to the S&P 500, too much of your money may be riding on stocks that move in lock step. Think beyond the S&P 500 to baskets like the Russell 3000 index or “total stock market indexes” tracked by Dow Jones, MSCI, S&P or Wilshire, which hold a much broader selection of stocks.

Next, no matter how diversified you are, you probably arent as diversified as you think.”

Read the  full column via The Intelligent Investor: Are Index Funds Messing Up the Markets? – WSJ.com.

Contact J. David Lewis directly with dlewis@resourceadv.com or share your thoughts on this topic below. He founded Resource Advisory Services in 1985.  National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986.  He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family. 

Add comment February 24th, 2012

There Is No Perfect or Permanent Financial Plan – NYTimes.com

Our Comment by J. David Lewis – When I read this tonight, I was struck by how timely it is.  Late in 2011, we prepared a relatively complex Recommendations Report for a couple interested in retiring a few years from now.  Less than six months later, we learn the retirement date may be very soon, due to changes by the employer.  No one could have predicted this change of expectation when we were working on the project.  I am convinced the decisions were sound when they were made.  Now, we are deciding what needs to be reconsidered.  In our world, this sort of thing is not exceptionally unusual. 

By Carl Richards

“Whether we like it or not, life is not static. We don’t live in bubbles. And even though one day may look very much like another, life is rarely the exact same every week let alone from year to year. Perhaps the basics stay the same — work, school, relationships — but little things change, and we learn to adapt to those changes.  

We need to think the same way about money. Even after we make smart decisions life will continue to happen.

The decision to save money each month may need to change if someone loses a job. The decision to have another child may mean that you need to buy a new car sooner than planned. The decision to retire early may be put on hold after a health emergency. In each example, no one did anything wrong; life happened.”

Read Carl Richard’s article via There Is No Perfect or Permanent Financial Plan – NYTimes.com.

Contact J. David Lewis directly with david.lewis@resourceadv.com or share your thoughts on this topic below. He founded Resource Advisory Services in 1985.  National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986.  He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family.  57375

Add comment January 23rd, 2012

6 Crucial Steps To Take When Hiring A Financial Planner

Our Comment by J. David Lewis – If you believe you do not have enough to find a good fee-only, fiduciary financial advisor, this is the article for you.  It gives good research tips.

by Mark Miller, Morningstar

“Resolved for the New Year: I will not make a financial plan for my future in 2012.

Thats the disturbing finding of a survey showing that 80% of Americans wont focus on financial planning this year–the highest percentage found since Allianz Life Insurance of North America started asking about this three years ago in an annual New Years resolution survey.

Why? The largest group of nonplanners–35%–said they “dont make enough to worry about it.”

Read the steps via 6 Crucial Steps To Take When Hiring A Financial Planner.

After you read this article and followed its advice, talk with us.  We do not have minimum  investment accounts for new clients.  We do expect serious commitment to improving your financial strength.  There is more to money than money®. With that commitment, we will quote fee arrangements that should make sense for your particular situation.

Contact J. David Lewis directly with david.lewis@resourceadv.com or share your thoughts on this topic below. He founded Resource Advisory Services in 1985.  National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986.  He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family.  57279

Add comment January 16th, 2012

How Financial Advisers Get Clients to Take Action – WSJ.com

It was great to find my quote published this morning.  —- J. David Lewis

 How Financial Advisers Get Clients to Take Action – WSJ.com by Jaime Levy Pessin

“Writing It Down

David Lewis, president of Resource Advisory Services, a money-management firm in Knoxville, Tenn., has taken the opposite approach—he has eliminated regular meetings with clients.

Mr. Lewis says he initially built his practice by working with doctors, who “legitimately didnt have time to set aside for meetings unless we really had something significant to discuss.” Eventually, he realized that instead of quarterly meetings, he could write a “net-worth letter” explaining the changes in a clients account. Mr. Lewis staggers the reports, so he doesnt have to write to all his clients at once; when a clients report is coming up, his office emails the client to see if theres anything specific he or she would like addressed.”

I can be much more thoughtful, much more thorough [in writing] than if the issue comes up and I have to talk about it,” he says.

If clients have a question stemming from or unrelated to their quarterly letter, they are encouraged to call and either discuss it on the phone or come in for a meeting, Mr. Lewis says. Letting the clients come in on their own terms makes for more productive meetings, he says.

Mr. Lewis is a planner who has discretion over his clients……”

Read the article via How Financial Advisers Get Clients to Take Action – WSJ.com.

1 comment January 9th, 2012

Next Posts Previous Posts



Get The Latest Posts Delivered To Your Email
Get The "More Than Money" Newsletter

Recent Posts

Categories

Calendar

April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930  

Archives



Fatal error: Call to undefined method s2class_upgrade::get_usermeta_keyname() in /data/19/1/99/151/1914640/user/2084779/htdocs/blog/wp-content/plugins/subscribe2/classes/class-s2-upgrade.php on line 292