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Money 101:
Personal Money Planning's Newsletter
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Money 101 NOVEMBER 12, 2011 |
Howdy!
Gospel Showcase Tickets and Upcoming Seminar
Welcome to November! It will be Thanksgiving before you know it. To celebrate, we are offering FREE tickets to the Mission Gospel Train's Gospel Showcase coming up on Friday, November 18. Now, we don't have enough for everybody, but we do have 10 tickets, so if you are interested, please call the office at 940-692-6885 and we will hold them for you.
The concert will take place in The East Sanctuary of the First Baptist Church (1200 Ninth Street, Wichita Falls, TX) at 7:00 p.m. Friday. "Don't Miss That Train,"give us a call to get your free tickets!
Also, we wanted to give you a heads up about our next seminar. The end of year seminar is always quite popular as Benay Ayers, CPA, updates us about new tax laws that will impact us in the upcoming tax season. Gary will take a look at how the market acted this year, and he will share his thoughts on where it is heading next. It will take place December 8 at 5:30 to 7:30 p.m. at the Courtyard by Marriott in Wichita Falls. RSVP by email, phone (692-6885), or filling out this form. |
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Gary's Soapbox
The Regulation Battle Part 2
In the last newsletter I discussed how the broker-dealer industry is trying to get the SEC to have FINRA regulate investment advisors. This seems well and good until you realize two things: First, FINRA was originally set up by the broker-dealer industry, and second, the broker-dealer industry is the chief rival of the investment advisory industry. (It does get a bit confusing because some firms do both.)
We fee-advisors are a bit paranoid about this. Last month I was in Chicago at an advisor conference, where 40 of the top advisors in the country got together for a brainstorming session about the industry. While things like investment research, personnel issues, and many financial-geekish topics were discussed, the landscape of an advisor's world being regulated by their competition came up.
What's interesting is that this group included people who currently or previously owned and operated small broker-dealers. One was an attorney that used to work for FINRA. In other words, these people had true insight, not just paranoia, about this issue.
Their best-guesses: an annual fee to be paid by firms to the regulators starting at $15,000 for the smaller firms; a set aside of $100,000 in cash assets to handle any client-complaint settlements; the requirement to have every piece of mass-communication approved by the regulators in advance (a process that can take up to six weeks); and a much more litigious regulatory environment.
What does this mean to a little-bitty independent sole-proprietorship firm like mine? A lot. More on that next time.
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Gary's Latest Articles
GOLD!
It's pretty, it's shiny, and people sometimes lose their heads over it. Learn more about investing with gold and why the prices of gold are going up in Gary's series of articles.
Other Nuggets...
No, Gary didn't find gold dust in his desk drawer, but what he did uncover was still valuable. Read More... |
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Money 101: Veterans and Homeownership
Yesterday was Veterans Day, even if you missed it, take the time to thank any active or retired service members for their service.
This blog, from the National Foundation for Credit Counseling, focuses on programs available to help military families with housing.Read More... |
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Remember, give us a call if you would like to see The Texas Boyz of Dallas, Chosen Few from Oklahoma City, and many more at the Gospel Showcase November 18.
Have a fantastic week! Sincerely, 
Gary Silverman
Personal Money Planning |
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©2011 Personal Money Planning . All rights reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information from this newsletter for general education by the original recipient.
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DISCLOSURE
This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
This publication should not be construed by any consumer and/or prospective client as Personal Money Planning's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Nor should links provided to other sites be construed as the recommendation of the services or products mentioned on those sites. If such services are required, the help of a competent professional should be sought.Remember that past performance may not be indicative of future results. Therefore, you should not assume that the future performance of any specific investment, investment strategy, or product made reference to (directly or indirectly) on this Website will be profitable or equal to indicated performance levels. Different types of investment involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for your investment portfolio.
Historical performance results for investment indexes and categories generally do not reflect the deduction of transaction or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results.
A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).
Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. |
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