Financial Planners: 'Your Witness'

Newton, Catherine
September 2002
Journal of Financial Planning;Sep2002, Vol. 15 Issue 9, p72
Academic Journal
This article presents several financial planners in the U.S. who work with attorneys as expert witnesses. Natallie McCann Bogumil is a financial planning practitioner and economic damages analyst at Remington Financial Services Inc., a fee-based financial planning firm and a registered investment advisory. Aside from all of the generic aspects of financial planning, they do a good amount of contract negotiations and salary equity research for highly paid executives--employment contracts, basically. They also help businesses determine the proper mix of salaries and benefits to offer employees. The other side of their company is the expert witness side. They're hired by attorneys to determine the economic damages sustained by an injured party in a lawsuit--for example, the value of lost wages, benefits, pensions and household services in the event someone was physically injured. Harold Evensky, a principal at the investment management firm Evensky, Brown & Katz, says that what they have is called a traditional financial planning/wealth management business. There are six professionals in the firm, and they have a couple-hundred clients. Evensky says that the expert witness work he does is a very small part of the business--five percent, maybe. When something interesting comes up and he can fit it in, then he does it.


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