In 1991, the New York Times reported on the remarkable life of Theodore Johnson. Theodore did not win the Nobel prize, nor was he a celebrity, inventor, or even a local celebrity of any real fame or renown. Rather, Theodore was a UPS driver. This was in a time before the internet hit any critical mass or made any great …
As we strive to be radically transparent at MY Wealth Planners®, today I thought I’d publicly share our pay and benefits scales for 2023. Briefly, this is broken out into descriptions of job tiers, compensation based on Longmont, CO residency, and a summary of benefits as we offer them. Job Tiers Careers at MY Wealth Planners in the “financial planner” …
Today marks the three-year anniversary of the launch of MY Wealth Planners®, Longmont’s first-and-only fee-only financial planning firm, a title that it maintains to this day. While the path to launching MY Wealth Planners started four and a half years prior as a “supported independence” practice under Waddell & Reed, the launch into full-blown entrepreneurship is both exciting and just …
Jason Zweig is arguably one of the most effective watchdogs of the financial advice industry. With a 30 year career in following the finance industry, he’s contributed to some of the hardest hitting journalism, uncovering issues with misconduct both among advisors, associations, and regulators. Five years ago, Zweig published his list, “19 Questions to Ask Your Financial Advisor” in the …
It’s no surprise that we don’t know everything. Bring up a topic such as rocket science or neurosurgery and anyone will throw up their hands and say, “I don’t know anything about that,” except, of course, for the rocket scientists and the neurosurgeons. Yet, as we move down the spectrum of complexity, people become more confident, even bolder in their …
I’m writing this on a plane flight to the Financial Planning Association’s NexGen Gathering. There’s a bit of warm nostalgia in being on this flight; not because I have a deep fondness for packaged pretzels or half-cans of ginger ale, but because NexGen Gathering has been a significant touchstone in my professional career. The last time NexGen Gathering was held …
I’m consternated. For anyone who reads my normal weekly content, this may or may not be for you. This is more of a complaint or concern than an educational piece, but it’s one I feel a need to voice. This year, “Prohibited Transaction Exemption” or “PTE 2020-02” was released, giving guidance to financial planners and advisors about how they needed …
Well, this is an awkward brag of sorts, but as of May 31st this year, it appears I’ve become a millionaire. I’ll get it out of the way and say that I don’t feel like a millionaire. I certainly don’t live like one, or at least, I don’t live like what I’d think of a millionaire as living like. I’m …
The Allianz Scandal Today the SEC announced that it had reached a settlement with Allianz to the tune of a billion-dollar fine and five billion dollars in restitution to victims of a fraudulent portfolio management scheme. In short, three of its senior portfolio managers had glossed over the potential risks of an options trading strategy that was sold to 114 …
If you read our email over the weekend, you know that I published a book, that was ranked as the #1 New Release in Wealth Management on Amazon! That said, the book is not targeted at our clients, nor is it an investing or personal finance book. So why did I write the book? First and foremost, the reason is …