Over the years I have run into people that have multiple leaves but separate piles for each leaf. In other words, they have multiple advisors to help them manage their assets. The reasoning they explain in having multiple advisors is that they are trying to "diversify" their risk. For some, that risk is the potential "bad egg" advisors that are out there (Madoff's a prime example of why people... READ MORE

We are often asked, “How am I doing compared to others?” I get the sense that people do not ask this question hoping to be better off than others or in “Keeping up with the Joneses.” I genuinely think it comes from a true lack of understanding or confirmation as to where they are financially, which is why they have hired us in the first place. It is like a ship at sea that does not have a... READ MORE

Watching the inauguration in D.C. earlier this month reminded me of the many years I spent living in the D.C. area. Much of that time was spent during my tenure at the United States Naval Academy in Annapolis, MD (located about 30 miles outside of D.C.) where I earned an undergraduate degree in ocean engineering. For those who aren't familiar, the Naval Academy is one of 5* service academies... READ MORE