2007 Press Coverage / Media Interest
Horsesmouth, April, 2007 – The Garrett Planning Network was profiled in an article regarding the fast-growing hourly financial planning approach. Sheryl Garrett, founder of the Network, was also a guest expert for an online discussion regarding financial planning by the hour.
Wealth Manager, February 2007 – As one of nine experts interviewed, Sheryl Garrett, CFP®, provided her input on whether a new generation is prepared for the retirement journey. Read "Ready–or Not" to learn about the changing face of retirement.
Minneapolis Star Tribune , January 20, 2007 – In Kara McGuire's January 20th Column entitled "You Can Pay For Advice As You Go," Sheryl Garrett says you needn't be a millionaire to have a financial adviser. But you must be willing to pay for one.
Orlando Sun-Sentinel, January 28, 2007 – For questions you should ask when interviewing financial planners, read "Invest time in money planner." Sheryl Garrett, founder of the Garrett Planning Network, provided the questions in this article as well as points to consider when choosing a financial planner.
2006 Press Coverage / Media Interest
Chicago Tribune, December 22, 2006 – In “Right gift book gives wealth of information,” Gail MarksJarvis recommends Sheryl Garrett and Debra Neiman’s "Money Without Matrimony" as a resource for personal financial advice for unmarried couples.
Wall Street Journal, December 9, 2006 – There are plenty of easy to use online planning tools offering to tell you within minutes whether you're saving enough for retirement. But are they steering consumers in the right direction? "I strongly encourage people to use them," says Sheryl Garrett, CFP®, founder of the Garrett Planning Network. They're "useful tools, but just like any tool, if not used faithfully and appropriately you could hurt yourself. These are like power tools – there’s electricity, and sharp blades involved." Read “Calculating Retirement Needs Online” to learn which calculators are useful and what factors to consider when using them.
Reading Eagle, November 21, 2006 – Sheryl Garrett’s approach to emergency funds was referred to in a column titled “Getting your money’s worth.” She suggests limiting your true cash-type emergency fund as long as you have ready sources of credit such as rich and loving relatives, a line of credit perhaps based on your home, high credit card limits or other sources of money in case of an emergency.
Redbook, Winter 2006 – Learn ways to control spending during the holiday season in “How to Say No to Impulse Buys.” To combat the urge to splurge, Sheryl Garrett, editor of the personal finance series On the Road, says to pay in cash. Credit cards have a way of fooling people into thinking they're not spending money, says Garrett. If you can't pay cash today, then you probably can't afford whatever you wanted to buy.
CNN Money, November 14, 2006 – In “Planning your financial future,” the Garrett Planning Network was recommended to a divorced 51 year old woman who needed advice about how to improve her financial future.
Annapolis Capital, September 25, 2006 – In an article on how to choose a financial planner, the Garrett Planning Network’s Web site is suggested as a place to look for financial planners who offer hourly as-needed advice to anyone, regardless of income.
Wall Street Journal, September 23, 2006 – For accessible financial advice, hiring a planner who charges by the hour is an option, particularly among self-directed investors who are looking for help with a specific problem or simply want a second opinion, writes Jane Kim in her article “Find Good, Cheap Advice.” An hourly planner might charge about $1,000 for a portfolio review, which includes evaluating whether a client has a variety of essentials in place, such as wills, insurance policies and tax-efficient investments, says Sheryl Garrett, who runs the Garrett Planning Network (http://www.garrettplanningnetwork.com/), a group of financial planners nationwide who bill by the hour. Sessions typically last between four and eight hours, she says.
Washington Post, July 26, 2006 – In the article titled, “Finding the right adviser”, the Garrett Planning Network Web site was recommended to consumers as a place to locate a financial planner who charges by the hour.
MSNBC.com, Today Show, Jun 26, 2006 – Americans are living longer, pensions are shrinking, and Social Security is uncertain. That’s why financial editor Jean Chatzky says to start saving now! Chatzky suggests enlisting the help of a financial advisor from www.GarrettPlanningNetwork.com to help you determine how much you need to save for retirement. Click here to read the full article.
Los Angeles Times, June 4, 2006 – Personal finance writer, Liz Pulliam Weston, recommends an objective, experienced, fee-only financial planner to take a look at your total financial situation. She also suggests the Garrett Planning Network Web site as a source for referrals in her article titled “Investor Near Retirement Needs Professional Help.”
Wall Street Journal, May 31, 2006 – Jonathan Clements column on choosing a financial planner listed the Garrett Planning Network's Web site as one of two sites to find a fee-only planner. “Go to www.feeonly.org or www.garrettplanningnetwork.com to find a fee-only financial adviser in your area."
Minneapolis Star Tribune, May 23, 2006 – The Garrett Planning Network was suggested as a group that specializes in project-based, fee-only financial planning for average Americans. The article discussed tips on how to find trustworthy financial planners and accountants.
Top 25 Most Influential People: Investment Advisor Magazine, May 2006 – For the fourth consecutive year, Sheryl Garrett, CFP®, has been named one of the top 25 most influential people in the financial planning industry in “Making the Future Happen.” Six years ago, Garrett, 43, created the Garrett Planning Network, a group of advisors who offer financial planning—not asset management—for an hourly rate that ranges from $150-$300. The network is designed to help people with middle incomes afford planning their finances. “No one should have to apologize for where they are in life,” Garrett says. “If they have $4.35 or $435 million, it shouldn’t matter. I charge by the hour or by the project. Everyone has questions about money and everyone has needs. You don’t go into the doctor and get charged more because you weigh more.” Garrett stopped seeing clients in 2004 and now helps advisors tailor their practices to the hourly model by using the templates, processes, and educational tools she provides.
Associated Press, April 26, 2006 – In “Tools from Funds are a Good Start,” the Garrett Planning Network was named as a resource for fee-only financial planners who charge an hourly rate to provide the advice you need. This article appeared in many publications across the country including the Washington Post and Los Angeles Times.
Los Angeles Times, March 12, 2006 – To keep peace within the family when an inheritance comes, www.GarrettPlanningNetwork.com was suggested as a resource for competent Fee-Only financial planners who could review the situation and offer suggestions about investments.
Kiplinger’s Personal Finance, March 7, 2006 – “Make a Financial Match Online” compares online financial advisor networks to see which offer the best selection and services to meet consumers’ needs. The Garrett Planning Network is named as one of five resources listed in the article. To help you prepare to interview an advisor, it’s important to evaluate the planner’s personality, says Sheryl Garrett. "Do you feel like they listen to you? Do they answer your questions in a forthright manner?"
Motley Fool, March 2, 2006 – Sheryl Garrett was interviewed for her advice on avoiding common monumental money blunders before they occur. The article allows Garrett to point out the biggest mistakes people make during some of these major life/money situations. Click here for an excerpt from the interview.
Newsweek, February 13, 2006 – Personal Finance Writer Jane Bryant Quinn says that the more people worry about their money, the more they look for experts to help them straighten things out. Her article titled, “Money Guide: How to Pick a Planner,” suggests a CFP® professional who is Fee-Only and charges by the hour. The Garrett Planning Network is recommended as a resource for this type of planner.
Wall Street Journal, February 12, 2006 – Putting too many barriers between teens and their money prevents them from learning valuable lessons, some say. "I want them to have the lure" of thinking, "I could actually get at that," says Sheryl Garrett, founder of Garrett Planning Network. Click here to read “Strategies to Help Your Teenager Save.
Los Angeles Times, January 15, 2006 – Personal finance writer, Liz Pulliam Weston, suggests consulting an expert when making financial decisions related to retirement. She then goes on to mention www.GarrettPlanningNetwork.com as a source to locate Fee-Only financial planners. Click here to read the full article.
Financial Planning Magazine, January 2006 – The unique needs and vulnerabilities of unmarried clients demand special sensitivity and an early start on later life planning. Sheryl Garrett, CFP®, founder of the Garrett Planning Network, wrote “A Plan for One,” an article providing her expert advice for financial planners working with unmarried couples.
2005 Press Coverage / Media Interest
Los Angeles Times, December 25, 2005 – In “Be Realistic About Retirement,” personal finance writer, Liz Pulliam Weston, suggests www.GarrettPlanningNetwork.com as a place to find objective, Fee-only financial planners who can help you plan your retirement.
Wall Street Journal, December 12, 2005 – In “Before You Open that Nest Egg ... 10 Questions to Ask Yourself,” Journalist, Glenn Ruffenach discusses how to ensure your retirement "paycheck." Read page 3 of the article to see what he says about the Garrett Planning Network!
Daily Record, October 5, 2005 – “The solution for people of modest means may be a planner who charges by the hour – not 1 percent of your assets to manage your portfolio and not a minimum (of say, $1,000),” wrote financial columnist Warren Boroson. Boroson’s article titled “Middle-Income people may prefer planners with hourly fees,” referenced www.GarrettPlanningNetwork.com for names of Fee-Only financial planners across the country who charge by the hour.
Financial Planning Magazine, September 2005 – Our very own Sheryl Garrett was chosen to be in The Hall of Fame as one of the 26 Entrepreneurs and Investors who’s Achievements have Shaped the Business of Financial Advice. She is in very good company, as some of the others chosen were Warren Buffett, John Bogle, and Alan Greenspan. The magazine chose Sheryl because “Her resistance to commissions and sales incentives and her embrace of hourly fees for all account sizes are part of an effort to bring more transparency to the profession.”
Wall Street Journal, September 24, 2005 – In “Little Account? How to Get Help,” Staff Reporter Ron Lieber suggests hiring a financial planner like you would hire a lawyer or plumber. “There's a relatively small but growing niche of planners who charge by the hour. Many are listed on www.GarrettPlanningNetwork.com, the site for a group that promotes the hired-gun approach,” writes Lieber.
Forbes.com, August 4, 2005 – Sheryl Garrett, CFP®, co-author of “Money Without Matrimony” with Debra Neiman, CFP®, was interviewed for her expertise on the steps that older adults in unmarried relationships should take in their financial lives as they age. Click here to read the article titled, “Grandma’s Got a Boyfriend, Now What?”
USA Today, August 4, 2005 – “Getting sound financial advice comes down to finding a skilled, trustworthy adviser,” writes Kathy Chu in “Financial advice aplenty: Whom should you listen to?” Sheryl Garrett, CFP®, cautions consumers when working with financial planners who charge a percentage of assets under management. “Because the adviser has an incentive to make sure your asset level doesn't drop, he or she might not tell you to withdraw money to pay off the mortgage, even if it's appropriate,” warns Garrett.
Forbes.com, August 3, 2005 – Sheryl Garrett, a Certified Financial Planner™ professional and co-author of ”Money Without Matrimony” provided helpful suggestions for unmarried couples who wish to have children in “Living Together Makes More Sense Than Marriage.”
Star Tribune, July 8, 2005 – If you are looking for a financial planner, “there are advisers out there who specialize in working with middle-income folks, like the pros affiliated with the Garrett Planning Network,” writes Kara McGuire in “Pay Dirt: Trusted Adviser.”
Money magazine, June 7, 2005 – The writers of “50 Smartest Money Moves: Money Management Tips” suggest hiring a financial planner to review your retirement and college savings plans. “At http://www.garrettplanningnetwork.com, you'll find planners who work by the hour. Getting on track will take eight to ten hours up front, plus an hour or two for a yearly checkup.”
Top 25 Most Influential People: Investment Advisor Magazine, May 2005 – For the third consecutive year, Sheryl Garrett, CFP®, has been named one of the “Top 25 Most Influential People in Financial Planning.” Previously a successful wealth manager, Garrett left the wealth management firm to focus on serving middle-income clients. Because she began working with clients by the hour, they were able to obtain professional, commission-free advice whenever needed. She went even further by building a network that is expanding to more than 240 advisors dedicated to serving average folks. These planners are replicating her success by using the templates, processes and educational resources that Garrett developed while building her own firm. “I strongly believe that everybody should have access to competent financial advice,” she says. “Most folks can’t afford a full-time financial planner, but have questions about money all the time.”
Kiplinger’s Personal Finance, May 20, 2005 – In “Gifts for the Grad,” a gift certificate for an hour or two of professional advice is suggested as a practical option when choosing gifts for graduates. According to the article, gift givers may consider Garrett Planning Network members that offer such gift certificates. With Garrett planners, gift certificates are generally valid for a year, so grads can get guidance when they need it.
Star Tribune, May 6, 2005 – Does the plan to never marry change the way couples should view merging their financial lives? Hopefully not. In order to be successful financial and life partners, Sheryl Garrett, CFP®, founder of the Garrett Planning Network and co-author of “Money Without Matrimony,” thinks committed couples should think about their money matters in the same way – marriage certificate or not. Garrett was interviewed by Kara McGuire for her expertise in advising unmarried couples in “Ways of wealth out of wedlock.”
Physician’s Money Digest, March 15, 2005 – The article, “Conquer Debt by Curbing the Temptation of Credit,” discusses the widespread problem of inability to manage debt and how physicians are particularly vulnerable to this problem. Sheryl Garrett, CFP®, author of “Just Give Me the Answer$” and Founder of The Garrett Planning Network, offered suggestions for younger physicians just getting started in their career. A young couple Garrett knows “got so used to living like college students that they continued living that same frugal lifestyle for the next few years. They didn’t live up to the standards one would presume for a physician. That enabled them to knock out their debts quickly and focus on the rest of their lives.”
2004 Press Coverage / Media Interest
Wall Street Journal, December 30, 2004 – In “How to Fix Your Life in 2005,” Jonathan Clements discusses several quick fixes that can save consumers time and money. If you are worried that your broker is ripping you off, Clements recommends hiring a financial planner who charges by the hour to look over your finances. The Garrett Planning Network Web site is listed as the resource for fee-only, hourly financial planners.
Pioneer Press, December 13, 2004 – In “Help friends balance the books with these gifts,” investment columnist Gail MarksJarvis recommends “Just Give Me the Answers” by Sheryl Garrett along with Marie Swift and The Garrett Planning Network as an all purpose household finance book you can use to look up topics pertinent to you at any particular time.
Wall Street Journal, December 5, 2004 – In “Five Books to Retire By,” Jonathan Clements recommends “Just Give Me the Answer$” by Sheryl Garrett with Marie Swift and The Garrett Planning Network as one of the top five books that address some of the most important issues in retirement planning. He writes that Garrett and the network members “do a nice job of providing the Big Picture, tackling almost every aspect of personal finance.
CNN Money, November 15, 2004 – In “Mistake: Taking the wrong amount of risk, The Fix: Achieve the perfect asset mix for your portfolio,” The Garrett Planning Network was the sole resource listed for fee-only planners who will work with consumers on an hourly, as-needed basis. Click here to read the article.
Kiplinger Personal Finance, August 2004 – In an article called I Need Affordable Advice, the editors of Kiplinger Personal Finance recommend hiring a planner on an hourly basis. “If you just need a financial adviser to tell you whether your retirement accounts make sense or to give you an unbiased second opinion about your investments, your best bet is to hire someone on an hourly basis or for a set number of meetings. Members of The Garrett Planning Network, a group of 225 financial planners in 40 states, charge an hourly fee to consult on any financial problem. They offer their services on an as-needed basis and don't manage money or require an annual retainer.”
Wall Street Journal, August 4, 2004 – Journalist Terri Cullen listed The Garrett Planning Network as a place to find competent, objective advice in her Getting Advice article.
2003 Press Coverage / Media Interest
Wall Street Journal, October 1, 2003 – Jonathan Clements in his “Getting Going” column offered his thoughts on how to find competent, affordable advice. "Before hiring a full-time adviser, make sure the total annual cost will fall below 1.2% of your portfolio's value," he says. Just need a financial check-up or specific advice? Not interested in signing an ongoing portfolio management agreement? Mr. Clements suggests you try finding an advisor through www.GarrettPlanningNetwork.com. "Garrett, based in Shawnee, Kan., has 155 members in 33 states who typically charge between $100 and $200 per hour. Hiring a Garrett planner could be a smart move if you are a do-it-yourself investor who is struggling with a specific problem or you want to make sure you are on track financially," he says. Click here to read the article.
The Physicians’ Personal Advisor, January 2003 – “Should you Pay for Financial Planning by the Hour?” asks writer Lou Pilla. “With the fee-only hourly model, clients pay only for the amount of time the planner meets with them and/or works on their behalf,” says network founder Sheryl Garrett, CFP®. “This type of arrangement makes sense for do-it-yourselfers or people who need a just second opinion on their finances – as well as high net worth individuals who may need and/or prefer ongoing service and advice. If clients need assistance with plan implementation, they may engage the planner on either an hourly or flat rate basis. Some of our members also offer their services on a retainer basis, if that is most appropriate for the client,” concludes Garrett.
2002 Press Coverage / Media Interest
Financial Advisor, December 2002 – As many advisors strive to find wealthier clients, CFP® Sheryl Garrett is leading a movement that focuses on people with middle incomes. “We embrace Middle America, do-it-yourselfers and self-directed investors,” she says. “Fees are by the hour and the door is open to anyone who needs financial advice. Most people want to consult a financial advisor on a periodic basis, just like they do a doctor or a dentist.” The article is titled “Looking for Middle America.”
Bloomberg Personal Finance, December 2002 – A nationwide network of Fee-Only planners, led by CFP® Sheryl Garrett, aims at serving the Middle Market and self-directed investor. Services are offered a’ la Carte at affordable hourly rates. “The comment I hear most often,” says Sheryl, “is ‘I just want to be sure I am doing everything right.’ Our services are designed for clients who want occasional financial check-ups from an advisor rather than an ongoing retainer relationship. We provide objective advice to help them manage their own finances. It’s an ideal fit for clients who do not wish to turn everything over to an expert,” says Sheryl in this exclusive feature article titled “Advice a’ la Carte.”
Time magazine, November 4, 2002 – “Whether you are replacing an adviser or hiring one for the first time, one aspect to consider is how you will pay,” says Time magazine columnist, Jean Chatzky in Planner, You’re Outta Here! “Until recently there were four basic options,” she continues. “Commission-based brokers offer varying levels of advice and collect sales charges when you buy or sell. Fee-based planners charge once for a comprehensive plan, then earn trading commissions. Fee-only planners don't earn commissions; they charge for a comprehensive plan that you then implement. And wealth managers charge a percentage of assets under management (typically 1% or less per year) to strategize for you. Some advisers blur these distinctions. Unfortunately, three of these options are unaffordable to many investors. Fee-based and fee-only advisers typically charge from $1,000 for a basic plan to $5,000 for one delving deeply into tax and estate issues. Many wealth managers won't take clients with less than $1 million to hand over. That leaves brokers, who may be competent and honest but face a conflict of interest because they're paid to trade.”
“Many planners, however, have started offering to charge by the hour,” the Time article continues. “Others are more willing to craft one-time financial plans. Still others have slashed management fees and account minimums for performing the simpler work of asset allocation, rather than picking specific investments. These new ways of paying are well suited to investors who are willing to do some of the work themselves or who need advice only on a specific problem.”
“Sheryl Garrett, who runs the Garrett Planning Network headquartered in Shawnee, KS., is a leader in this trend. Her company operates like a law firm, billing $100 to $200 an hour depending on the planner's locale and experience. Whomever you choose,” concludes the writer, “insist that your planner sign an agreement to assume fiduciary responsibility where you are concerned. That means your interests come first — precisely as it should be."
My Generation, Nov/Dec 2002 – The Garrett Planning Network is named as a flexible, affordable resource for baby boomers who may be seeking professional financial advice for themselves or their aging parents in the article “Ensuring their Financial Independence.” Advice from a financial planner “doesn’t have to cost a fortune,” says the writer. “There are planners with experience in this area—and rates to match.” Members of the nationwide Garrett Planning Network, some of whom specialize in elder issues, work strictly on an hourly basis and rarely require retainer fees or minimums.
© 2006 Sailor Financial, LLC. Design by Glendale Designs