Kaizen Wealth Management » Financial Goals

Mass Affluent Shift from Brokers to Independent Planners

Kaizen Wealth Managment — Thu, 15 Oct 2009 19:24:15 +0000

For the first time ever, the number of mass affluent investors who are choosing independent financial planners is on par with those using full-service brokers, according to a new report from the Spectrem Group.

In its report, “Mass Affluent Investor 2009,” the Spectrem Group found that the number of mass affluent households using full-service brokers as their primary advisor fell to 22% in 2009 from 30% a year ago. Meanwhile, the number of these investors using independent financial planners as their primary advisor rose to 22% from 20%.

George Walper, Jr., president of Spectrem Group, says that clients are now looking for more than just help with investing; they want someone to help them plan their futures, including their retirements.

“A year ago 99% of Americans said [the economic meltdown] was the biggest event of their lifetimes,” Walper says. “And things haven’t gotten any better. By that I mean they’ve still lost a lot of assets, unemployment is still high. They see this as a complete generational change.”

Two-Thirds Don’t Have a Financial Plan

Kaizen Wealth Managment — Fri, 25 Sep 2009 15:56:50 +0000

Despite increasing pressure to slash debt and rebuild retirement funds, nearly two-thirds of consumers do not have a written financial plan, according to the 2009 National Consumer Survey on Personal Finance.

The survey, released today by the Certified Financial Planner Board of Standards, found that 64% of respondents do not have a written financial plan in place.

“Those in the know who are using financial planning are finding it a valuable experience,” Eleanor Blayney, consumer advocate for the CFP Board, said in an interview. “There are just too many people who are not using it.”

We couldn’t agree more.

Now May Be a Good Time to Transfer Your Old 401K Plan(s)

Kaizen Wealth Managment — Thu, 25 Jun 2009 21:25:11 +0000

Leaving your money in an old, forgotten 401(k) could be a losing proposition. Hidden fees, limited investment options and a likely unbalanced asset allocation can plague your retirement plan(s). If you are like many people, you’ve had many jobs over your career and left retirement-plan assets scattered about.

Consolidating these plans and investments can help:

rebalance your asset allocation
expand your investment choices
ease reporting and review of your complete retirement plan
continue your tax-deferred growth

It’s All about Discipline

Kaizen Wealth Managment — Wed, 25 Feb 2009 13:18:27 +0000

You don’t have to be a genius to be a successful investor. Warren Buffet once said, “Success in investing doesn’t correlate with IQ once you’re above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” It’s true that not everyone is Warren Buffett, but challenging yourself to avoid your own worst instincts will help you reach your financial goals.