Financial Planning Blog

It's official--Fools love the Garrett Planning Network.

Many of you are familiar with The Motley Fool, the popular investing website founded by brothers David and Tom Gardner. Besides the practical and amusing investment and financial planning content on the website, the Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The Motley Fool also offers a large number of premium services for hundreds of thousands of subscribers.

The Motley Fool has long been a fan of the Garrett Planning Network's approach to fee-only financial planning, with the mission of making competent, objective financial advice accessible to all people. Recognizing the great need among the Motley Fool community for more hands-on help managing life's complex decisions, The Fool felt it was the time to kick off a search for a well-established, like-minded outfit with similar values with which to partner. They, of course, found a match in the Garrett Planning Network. They know the planners in the Garrett network offer the same kind of trustworthy, objective and transparent advice that The Fool has built its business on.

Check out You Need a Financial Advisor by Robert Brokamp, who writes the Motley Fool Rule Your Retirement newsletter. The Fool is a big advocate of DIY investing, but Brokamp points out why many of us need a financial advisor, even if we don't want to hand over management of our portfolio. He says:

We know we could handle all the aspects of our finances on our own; we may even think we should handle it all on our own. But we never get around to it. We have too many other things to do ... or we convince ourselves we do. ("I know I should create a budget, but my kitchen cabinet's a disaster!")

We firmly believe that you can learn all you need to know about personal finances. It just takes time (and a little curiosity about the topic helps). But if you find that you're just not getting around to taking care of business, then get an advisor. The money you pay her will be worth the bigger nest egg, reduced debt, lower taxes, sufficient insurance, and peace of mind.

But he points out, "This is all predicated on finding a good financial advisor." He goes on to discuss the inherent conflicts of interest if you hire advisors (i.e. "sales folks") who are paid via commissions--something every Fool knows. What follows is a discussion of the Motley Fool's partnership with the Garrett Planning Network and what you should expect from working with a Garrett planner, such as Table Rock Financial Planning.

While you are out at the Motley Fool site, take time to read Sheryl Garrett's recent article on why the fiduciary standard matters. Although financial services lobby may be successful in staying off needed regulatory reform requiring everyone providing investment advice to be held to a fiduciary standard (including stock brokers and insurance representatives), remember that Table Rock Financial Planning, along with the rest of the Garrett Planning Network, have always been committed to a fiduciary standard. Sheryl relates a great story on why you deserve an advisor who is looking out for your best interests.