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Money 101:
Personal Money Planning's Newsletter
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Money 101 NOVEMBER 26, 2011 |
Howdy!
I hope your Thanksgiving and Black Friday (if you participate) were equally satisfying, or at least you had the chance to burn off that extra piece of pie running for the sales yesterday.
The end of the year is just about upon us! To prepare for the upcoming tax season, I hope you consider coming to our next seminar. Benay Ayers, CPA, will be discussing new tax regulations that may impact you, and I will be talking about how the market has been acting recently, as well as take a stab at what we might expect in the coming year.
This Year-End Seminar will take place December 8 from 5:30 to 7:30 p.m. at the Courtyard by Marriott Wichita Falls. Please RSVP by responding to this email, calling the office at 692-6885, or filling out this form. We hope to see you there!
--Gary |
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Gary's Soapbox  Last time, we looked at some of the changes that are being proposed to help clean up my industry. Unfortunately, the changes don't amount to a clean-up, but rather the layering on of a bureaucracy. The most dreaded part may very well be the imposition of oversight on my firm by an organization set up by my competitors, those fat cats on Wall Street. Having more direct costs ($), as well as a couple times that in indirect costs ($$) would result in me either cutting my take-home income quite a bit (not likely), raising our fees gonna happen regardless), or cutting back on the services we do (including those you see as well as the more important ones you don't). Needing to set aside even more money ($$$) to handle client complaints means that little things like new employees, new software, new hardware, office upgrades, report printing, marketing, etc., would effectively have to be curtailed for a number of years...at least. We run a small, cheap operation. That would no longer be allowed. Needing the regulators to approve all mass-distributed communications would make me a lot less talkative.. In jeopardy is the TV show, seminars, newspaper column, and these e-newsletters. It's not that they can't be done, but they wouldn't be timely, they would get a lot more expensive, and they would open me up to a lot more regulatory oversight. Frankly, alot of it wouldn't be worth it. While the SEC tends to let you explain most issues that may come up in an audit through writing letters, FINRA is more likely to escalate, even to the point where the advisor and an attorney would be asked to catch a plane to New York to defend an audit's findings. The amount of paperwork, procedures, and the like we'll institute to prevent such events will be astounding. Let's just say, in a FINRA-regulated scenario, if you want something done quick, you can pretty much forget it. Now, all of this presently is conjecture. I rather doubt that all of the above will come into being. That which does likely won't be quite as bad as I make it sound. But the best brains in my business believe that these potentials do exist and are realistic. And if (or when) some (or all) of it comes into being, I'll be running a firm in a way that is a little less happy than before. Next time we'll look at another little burr under my saddle - what's been going on between FINRA and the SEC, the regulator that I'm yammering about, and the one that regulates them. --Gary |
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Gary's Latest Articles
from The Times Record News
The Last Word On Gold (for a while)
Gary wraps up his 3-part series on investing with gold with some advice that works for all kinds of investing: Diversify.
It Adds Up...
When it comes to finding money to save, you'd be surprised how much cutting back on some things can add up to by the end of a year. Read More...
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Money 101: Beware of Scams  What would you do if a friend or family member was out of the country, was robbed at gunpoint, and reached out to you for help to get back home? Well, scam artists and hackers are betting on your generosity and put forward this scenario in fake emails that make it to your inbox. Beware and be cynical when it comes to believing what you read in your e-mails. This scam has recently been prevalent in the North Texas area. Read More...
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Enjoy the rest of your holiday weekend! We hope to see you at the December 8 seminar.
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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