Why Hire an Investment Consultant?
There are many investment terms that are tossed about which can be confusing to a typical investor. I have been reminded recently that a seemingly simple term, “Investment Advisor,” can mean different things to different people. Professionals in our industry use labels such as Investment Advisor, Financial Planner, Financial Advisor, Financial Consultant, and Investment Manager to try to neatly describe what they do for a living. Often, a client misunderstands the label or believes that all investment professionals provide the same service. Do you know the differences?
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 The Death of Active Investment Management
Over the years, there has been a strong case made for passive investment management, and a proliferation of products such as index mutual funds and exchange-traded funds (ETFs). The appeal of index funds is easy to understand. Why pay higher fees for active management when, in theory, a small percentage of these products actually outperform an index? Investors have just experienced the worst 10-year period in the history of the stock market…so how did active management fare versus the indexes during this brutal market? The results might surprise you.
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The Target 401(k) Plan: A Results-Based Model
Journal of Pension Benefits, Autumn 2006. In order to accentuate the positive attributes of our 401(k) system, yet improve on its shortcomings by incorporating elements of traditional pension plans, we present a results-oriented plan design referred to as the Target 401(k) Plan. A results-based approach will better assist our nation's workforce in achieving adequate retirement security.
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 Report on Wisconsin Act 264,
The Uniform Prudent Investors Act — UPIA
On April 15, 2004, Governor Doyle signed into law a bill that sets general standards for fiduciaries and allows them greater flexibility when choosing investments. This bill, known as the Uniform Prudent Investor Act, mandates that individuals responsible for trust accounts will be judged on the basis of the performance of the total portfolio, allows them to delegate investment decisions, and requires them to consider the tax consequences of investment decisions.
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