What All Star’s Reading #2

A few weeks ago we introduced a new blog installment, “What All Star’s Reading,” that will outline the influential articles that have helped shape our views on investments, financial planning, tax planning, and the practices we implement to service you, our valued client. The articles we share will be geared towards you and we hope they will provide you with valuable insight! Keep reading for this week’s four articles discussing a wide variety of topics from Social Security to rules for both investing and life!

Is Your Financial Advisor Independent, An RIA or Wirehouse Rep? You Have No Idea But You Should – Another article from Forbes, written by contributing editor Mindy Diamond, discusses the extensive and oftentimes confusing landscape of financial advisors. There is an endless number of avenues available to investors today, from brokerage shops to online discount brokers, from banks to RIAs it can be difficult for many investors to know who really has their best interest at heart! In just four pages, Mindy outlines the financial advisor landscape in an easy to understand manner. Know of a friend or family member who isn’t satisfied with their current advisor? Forward this article to them!

When to Give Out Your Social Security Number, How to Protect It – Cybercrime and identity theft are quickly becoming more pervasive in our society. With that said, here are a few tips on how to protect your Social Security number and prevent others from stealing your identity!

Byron Wien’s 20 Rules of Investing & Life – Barry Ritzholtz a New York advisor/blogger reposted this fantastic piece by the Vice Chairman of Blackstone Advisory partners that outlines 20 rules Byron has gleaned over his first 80 years. Three of our favorites include: (1) read all the time, (2) evolve, and (3) treat new acquaintances as a friend! What are your favorites?

Magazine Covers Are Lousy Investment Signals – Another post from NY Times blogger, Carl Richards, discusses the importance of NOT “making investment decisions based on what you see at the newsstand.” Nowhere in our financial planning software is there a place to account for what happens in Syria, whether the Fed raises rates, or what the market’s reaction will be to Apple’s latest product release. That does not discount the impact of these events on our everyday lives, but we should not let these headlines dictate our long-term investment success. Patience, discipline, and a long-term focus will help ensure success.

You may know a friend or family member that might be able to benefit from reading one of the articles discussed above. Please feel free to pass along to them!

Matt & the All Star Team