Bearing Up Under the Bear

Lee, Shelley A.
January 2003
Journal of Financial Planning;Jan2003, Vol. 16 Issue 1, p48
Academic Journal
This article reveals the working conditions of financial planners in the United States as of January 2005, three years into the stock market downturn. Judy Shine, chief financial planner (CFP) of Shine Investments in Denver, Colorado stated that she was exhausted, fried and frustrated. She felt that the incident had a very bad impact on the client and on financial planners. Like many other colleagues, she was stunned by both the length and magnitude of the downturn. Most planners agree that the biggest lesson their clients have learned during the bear market is that their tolerance for risk is not what they though it was. Nobody is talking about the risk, according to Ellen Rogin, certified public accountant, CFO, owner of Strategic Financial Designs. In fact more investors probably figured their biggest risk in the last decade was not getting rich. Many planners adjusted client portfolios to lighten up on equities. David Bergmann of Wealth Advisory Group shifted to adding growth and income, equity income, even pure income, funds. Bergmann gained a dozen young families as new clients in 2002 and says that they are more concerned with the foundations than worrying too much about the market.


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