From the Editor

Hopewell, Lynn
October 1995
Journal of Financial Planning;Oct95, Vol. 8 Issue 4, p148
Academic Journal
This article presents comments from the editor of the journal "Journal of Financial Planning." He advises readers to be especially attentive this issue to Part II of Robert I. Padgette's article on performance reporting. He believes the two-part article is among the most important published in the journal in recent years. The financial planning business is being transformed by a strong shift from practice income to asset-management fees. Until the late 1980's, income came primarily from commissions and lees for estate planning, retirement planning, education planning, and other traditional components of comprehensive financial planning. For now, evidence is mostly anecdotal: conversations with planners, convention programs, and emphasis in trade magazines. Yet if truth be known, many planners are not as prepared as they might be for the asset-management business. One area they are well prepared for is assessing client needs and objectives. He argues that this is probably the missing ingredient in most clients' attempts to invest wisely. Plenty of data is available about investments, but to most clients the data is just noise. They desperately need help in setting objectives and designing appropriate portfolios.


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