If that wasn’t bad enough, now Congress is hoping to pass legislation to allow investment advisors to police themselves thru an industry owned oversight organization.  Some in Congress are speaking out…Rep. Barney Frank, D-Mass., says “The notion of self-regulation is inherently dubious.”  We agree!  As bad of a job as the SEC has done at times, it is preposterous to believe that a self-policing industry group is going to do a better job of weeding out bad advisors…the very same advisors who would be paying the bill to be policed!

At GTRUST Financial Partners, we are regulated AND examined regularly by the Office of the Kansas Bank Commissioner and the FDIC.  Not a day goes by that we are not grateful for the oversight of these two government agencies.  GTRUST is a stronger company as a result of this oversight, and our clients sleep better at night!  Daryl Craft  May 9, 2012

The attached link (http://www.xtranormal.com/watch/12032078/a-day-in-the-life-of-a-financial-advisor) does a wonderfully humorous job of identifying unrealistic expectations and dealing with them in a professional manner.  Watch and enjoy!  March 21, 2012

“When I arrived in Greece more than half my life ago, I was amazed at the closeness of the families, the interest people took in strangers and how non-commercial society was.  Families got together every Sunday and people in the street would take you by the hand to show you the way.  But now, families are being driven apart by immigration, thousands of stores are closed permanently and evenings out are drastically limited.”

“Since the crisis radically worsened in the spring of 2010, waives of austerity measures have steadily swept away the average Greek’s income, benefits and spending power.  While income has steadily decreased, prices of necessities (food, gasoline and heating oil) have skyrocketed.  Food and drink at restaurants are taxed 23% and groceries 13%.  Gas now costs about 1.70 per liter ($9.49 per gallon).  Heating oil is up 40% since 2010.  Mortgages, however, haven’t been adjusted proportionately with salary reductions, so thousands are sick with worry about keeping up with the payments.”

Jeanne details what effect the cuts have had on her family…”in the last three months my husband and I have (paid) extra income taxes of 528 euros, then a new property tax , 300 euros, was added to the electric bill.  All car owners pay a circulation tax at the end of every year.  We have two 10 year old cars and paid 500 euros.  With unemployment at 20 % and rising, there are no second jobs available; but people are becoming very creative at economizing and finding extra income.  Our neighbors now raise chickens and have a couple of sheep.  Our car mechanic became a bee keeper and sells honey from his garage.  Many people are planting gardens.  We have kept the thermostat at a constant 60 degrees, put extra blankets on the beds and are using the fireplace for warmth rather than just decoration.  A bartering economy is springing up.  We give oranges from our trees to friends and neighbors in exchange for eggs and vegetables.”

“The loss I personally feel is not for my disposable income, but for the future of my children.  My daughter is a junior at Edinburgh Napier University in Scotland.  The chances of her being able to find a job in Greece next year are slim, and the possibilities of her being able to live on the salaries offered to young people are none.  My sons are also planning to leave Greece for studies and careers.”

“I have felt such disappointment in the last few weeks.  This country doesn’t deserve what it is going through.  Its beauty, lifestyle and hospitality are unique in the world.  But now its reputation is shot, its people demoralized and obviously its economy is practically non-existent.  Maybe the worst is the uneven distribution of pain.  The wealthy tax evaders have long since taken their money out of Greece and are rubbing their hands together thinking of the profits they will make if the drachma comes back in circulation.”

“Greece will survive this crisis as it has so many others in its long history, but the cost to its people, young people in particular, may be too much.”  March 5, 2012

With 2012 underway already, this is a good time to “reassess your Trusted Team — the group you turn to for financial, accounting and legal advice,” said a recent article in The Wall Street Journal.  “If you’re tired of doing it yourself or your pros aren’t performing up to snuff, it may be time for a change,” WSJ said in its Dec. 31-Jan 1 Weekend Edition. “And if you’ve faced a setback this year, like a divorce, death of a spouse or a job loss, you especially want a team that is looking out for you and your best interests.”

Your team might include an investment manager, a Certified Financial Planner (CFP_©), an estate attorney, insurance agent, a company benefits expert and a tax accountant.  It should be no surprise to hear that GTRUST Financial Partners staff includes investment professionals, attorneys, Certified Financial Planners (CFP_©), tax professionals and a large body of institutional knowledge on insurance and employee benefit issues.

Daryl Craft, President of GTRUST Financial Partners, recommends when selecting an investment advisor that you choose a fiduciary advisor, one who places client interests first when making financial decisions.  Not everyone who works in the investment field is a fiduciary.  Stockbrokers and many Registered Investment Advisers (RIA’s) have only an obligation to recommend options that are “suitable” for investors, a far lesser standard than that of a fiduciary.

Suitable investments may be acceptable if you are a fairly sophisticated investor.  However, many investors need the advice and counsel of a trusted advisor who is a fiduciary…someone who will place your interests and wellbeing first in every conversation and in every investment.

Richard Salmen, SVP and Senior Advisor, suggests that a good financial planner will review your entire financial life, including your investments, insurance policies, work benefits, debt and cash-flow. Your financial planner can help you budget, manage debt, plan for both death and taxes, and find the right insurance, plus help you with your investments. They can also provide family dynamics counseling, as it is fairly common that family members may have different attitudes about money and how it is saved, invested and spent.

When choosing a financial planner, The Wall Street Journal recommends that you ask the following questions…How much do you charge? Will you act as a fiduciary? Will you operate with my interests first? How often will we talk?  Have you been disciplined by a professional or regulatory body? What is your money management style?  Those of us at GTRUST welcome such questions, and we believe we have the answers you will want to hear.

GTRUST is an employee-owned, independent trust, investment management and financial planning company, serving clients in more than 25 states.  All services are provided on a fee-only basis.  We help clients use money more effectively to get what they want out of life!

To see the entire article by The Wall Street Journal, go to

http://online.wsj.com/article/SB10001424052970204296804577124662217267128.html

January 19, 2012

While they may be interesting, these questions are irrelevant to the mission of most investors. The meaningful question is “What should I do today in order to attain future investment goals?” The goal may be to ensure a secure, comfortable retirement, or to provide college educations for grandchildren, or something else. The question is the same for any investment goal.

We think there are 2 essential tasks that most investors need to accomplish in order to reach any investment objective. First or foremost is to save, save, save. All other investment issues are meaningless unless we put away money on a regular basis for the purpose of meeting that goal of a secure retirement or that goal of providing education for our grandchildren.

The next task is to build an appropriate diversified portfolio that includes a variety of asset classes designed to reduce portfolio risk and enhance returns. Owning 10 different mutual funds does not mean the portfolio is diversified. To do that each fund must represent a distinct segment of the market.

While we do spend considerable time reviewing and analyzing mutual funds and exchange-traded funds, we devote even more time and effort to building appropriate portfolios for our clients. Building diversified portfolios.

Next time we’ll talk about what we mean by “appropriate” portfolios. Steve Page December 14, 2011