Media Coverage

Cole Financial Planning is proud to be apart of an industry changing trend in financial planning as a Fee Only, Hourly, As-Needed Financial Planning Firm.  Below you can see some of the press coverage that demonstrates how Cole Financial Planning and the Garrett Planning Network is changing the way financial planning is delivered in a truly client-centered way. 

Press Coverage / Media Interest for Cole Financial Planning and The Garrett Planning Network

ONGOING:

Scott is the financial expert for NBC-13's Midday show.  He discusses a variety of financial topics each and every Wednesday.  If you have a topic that you would like for him to address, e-mail him and he will try to work it into the rotation.

OTHER MEDIA INTEREST:

The Star-Ledger, June 27, 2007 – Hourly rates vary, but expect to pay $150 to $300 per hour for basic financial planning. "Ask the Biz Brain" lists the Garrett Planning Network as a place to go for financial planners who charge by the hour.

Wall Street Journal, June 17, 2007 – Read "OK, I Admit It. I Need Some Help.," for tips on why you should see a pro and how to choose one. The Garrett Planning Network is referenced as a place to find fee-only financial planners in your area.

Money Magazine, June 2007 – The Garrett Planning Network is suggested as a resource to find financial planners in an article titled "Goal: Building wealth; Best reality check: Eight hours with a financial planner."

Los Angeles Times, June 10, 2007 – "Cut into costs, not your 401(k)" describes the difference between fee-based and fee-only financial advisors and how they work. The Garrett Planning Network is referenced as a place to find fee-only advisors who are willing to work by the hour.

Boston Globe, June 1, 2007 – In "Changing rules may mean it's time for a heart-to-heart with your adviser," the closing line of the article suggests some may be better off working with an hourly planner and the Garrett Network is included as a resource.

Yahoo! Finance, May 31, 2007 – Laura Rowley, the writer of "Getting in Touch with Your Money Style" recommends a fee-only financial planner to help you prioritize your dreams, put your money where your values are and lay the groundwork to achieve them. Rowley also recommends the Garrett Planning Network as a resource for fee-only planners who charge by the hour.

CNN Money, May 22, 2007 – The Garrett Planning Network was recommended as a place to find a financial planner in "When you need a financial planner."

Wall Street Journal, May 19, 2007 – The writer of "A Retiree Searches for Honest Financial Advice," advises readers to consider hiring a fee-only financial planner – someone who is paid for his or her advice instead of someone who is compensated by making trades in investments or by receiving commissions for selling financial products. One of her recommendations for a fee-only planner was the Garrett Planning Network.

Motley Fool, May 5, 2007 – One of the gifts suggested in "5 Great Gifts for Grads and Newlyweds" is a gift of time with a fee-only financial planner.  The Garrett Planning Network was a recommended resource for finding independent financial advisors who offer as-needed financial planning services with no minimum income or asset requirements. 

CNN Money, May 2007 – With a handful of broad goals in mind, Money Magazine gave their top picks on what to do with five grand in "Where to put $5,000 now." One suggestion was to hire a fee-only financial planner who charges by the hour, not by the investments you buy.  The Garrett Network Web site was recommended as a place to locate one of these planners.

Orlando Sun-Sentinel, January 28, 2007 – For questions you should ask when interviewing financial planners, read "Invest time in money planner." Sheryl Garrett, founder of the Garrett Planning Network, provided the questions in this article as well as points to consider when choosing a financial planner.

Kiplinger's Personal Finance, January 2007 – "Life-Changing Legacy" discusses steps to take to make the most of your inheritance.  The Garrett Planning Network is listed as a resource for financial planners who can provide guidance regarding inheritances.

Money Magazine, January 2007- Scott Cole was a primary source for an article by George Mannes entitled, "Being Grown-Up About Debt."  Mr. Mannes gave attribute to Scott's contributions by including a small quote on how positive behavior should be encouraged when trying to get out of debt. 

Today’s Focus, Summer 2006- Scott Cole, founder and principal of Cole Financial Planning was relied upon heavily and quoted throughout an an article by Chris Warren, “Small Investments that Save Money.”  Scott says that consumers have to beware of “money leaks, because they kind of drip out of our pockets and we don’t even realize it.”  Among the tips that Scott helped Warren define include, knowing where you money is going, watching the temperature and avoiding the urge to always buy new. 

Investment News, May 8, 2006- In an article entitled, “Shift from DB: Will smaller advisers fit in?” by Lisa Shidler, Scott Cole of Cole Financial Planning was quoted on the role smaller financial planning firms may or may not play in the corporate shift away from traditional defined benefit plans. 

Top 25 Most Influential People: Investment Advisor Magazine, May 2006 – For the fourth consecutive year, Sheryl Garrett, CFP®, has been named one of the top 25 most influential people in the financial planning industry in “Making the Future Happen.” Six years ago, Garrett, 43, created the Garrett Planning Network, a group of advisors who offer financial planning—not asset management—for an hourly rate that ranges from $150-$300. The network is designed to help people with middle incomes afford planning their finances. “No one should have to apologize for where they are in life,” Garrett says. “If they have $4.35 or $435 million, it shouldn’t matter. I charge by the hour or by the project. Everyone has questions about money and everyone has needs. You don’t go into the doctor and get charged more because you weigh more.”  Garrett stopped seeing clients in 2004 and now helps advisors tailor their practices to the hourly model by using the templates, processes, and educational tools she provides.

Associated Press, April 26, 2006 – In “Tools from Funds are a Good Start,” the Garrett Planning Network was named as a resource for fee-only financial planners who charge an hourly rate to provide the advice you need. This article appeared in many publications across the country including the Washington Post and Los Angeles Times.

Wall Street Journal, March 27, 2006- In the cover story for the Journal Report, Jeff Opdyke quoted Scott Cole of Cole Financial Planning in an article entitled, "Love and Money: Nine questions partners should asked each other before getting married."  Scott gave helpful advice to the WSJ audience regarding the importance of communicating to significant others about finances and offered ways to start the discussion. This article was also picked up in man other publications around the country as well as by AOL News.

Financial Advisor Magazine, March 2006- Scott Cole, was quoted in an article by the highly regarded David Drucker in an article entitled "Blogging for Fun and For Profit" Scott was quoted about how blogs can be used in financial planning practices.  Among the quotes, Scott says, "It can give them a window to an advisor’s humanity which I believe is very appealing. As a consumer, if I can get a ‘feel’ of what a person is like, then I am more willing to consider working with him. In this way, blogging— I think— counters the overexposure to cold, unauthentic marketing and sales pitches.”
 

Birmingham Business Journal, February 24, 2006- Scott Cole, founder and principal of Cole Financial Planning, a Garrett Planning Network member was referenced in an article entitled, “Financial Planning for More than the Deep Pocket Crowd.”  Scott was quoted concerning consumers being forced to make financial decisions that they did not have to worry about before.  He also makes the case for the importance of understanding clearly how a financial adviser is compensated.  Cole Financial Planning is one of the relatively few financial planning firms in the country committed to hourly, commission-free, as-needed financial planning.

Los Angeles Times, January 15, 2006 – Personal finance writer, Liz Pulliam Weston, suggests consulting an expert when making financial decisions related to retirement.  She then goes on to mention www.GarrettPlanningNetwork.com as a source to locate Fee-Only financial planners.  Click here to read the full article.

Los Angeles Times, December 25, 2005 – In “Be Realistic About Retirement,” personal finance writer, Liz Pulliam Weston, suggests www.GarrettPlanningNetwork.com as a place to find objective, Fee-only financial planners who can help you plan your retirement. 

Wall Street Journal, December 12, 2005 – In “Before You Open that Nest Egg ... 10 Questions to Ask Yourself,” Journalist, Glenn Ruffenach discusses how to ensure your retirement "paycheck." Read page 3 of the article to see what he says about the Garrett Planning Network!

Washington Post, December 7, 2005 – If you’ve read many personal finance articles, you’ve read the familiar phrase, “cut out those daily lattes if you want to save enough for retirement.” The article titled, “Bean counting and the ‘latte factor,’” discusses ways to cut back expenses that will help you far more than skipping a cup of coffee.  The Garrett Planning Network Web site is mentioned as a source for affordable financial advisors who charge by the hour.

Birmingham News, October 26, 2005 – Sheryl Garrett, the Garrett Network, and Garrett Member Scott Cole was featured in “Expert: Save more, spend less, avoid bankruptcy.”  Sheryl Garrett said too many people spend all their earnings without setting aside savings for emergencies and retirement.  "The changes in the bankruptcy code mean now there is less room for error than before," Garrett said. "Bankruptcy has always been meant to be a last resort, and now it truly is the last resort for everyone. Buckle up and take responsibility."

Daily Record, October 5, 2005 – “The solution for people of modest means may be a planner who charges by the hour – not 1 percent of your assets to manage your portfolio and not a minimum (of say, $1,000),” wrote financial columnist Warren Boroson.  Boroson’s article titled “Middle-Income people may prefer planners with hourly fees,” referenced www.GarrettPlanningNetwork.com for names of Fee-Only financial planners across the country who charge by the hour.   

Wall Street Journal, September 24, 2005 – In “Little Account? How to Get Help,” Staff Reporter Ron Lieber suggests hiring a financial planner like you would hire a lawyer or plumber.  “There's a relatively small but growing niche of planners who charge by the hour. Many are listed on www.GarrettPlanningNetwork.com, the site for a group that promotes the hired-gun approach,” writes Lieber.

Accountingweb.com, September 20, 2005 – Sheryl Garrett, CFP®, founder of the Garrett Planning Network was quoted in “Longevity: The Most Dangerous Planning Tool.”  In a discussion regarding clients who don’t believe they will follow the current longevity trends, Garrett told MarketWatch, “If we don’t do something about adjusting our thinking now while we have time to make adjustments in our planning and saving so we have enough, one day we’re going to wake up broke.”

USA Today, August 4, 2005 – “Getting sound financial advice comes down to finding a skilled, trustworthy adviser,” writes Kathy Chu in “Financial advice aplenty: Whom should you listen to?”  Sheryl Garrett, CFP®, cautions consumers when working with financial planners who charge a percentage of assets under management.  “Because the adviser has an incentive to make sure your asset level doesn't drop, he or she might not tell you to withdraw money to pay off the mortgage, even if it's appropriate,” warns Garrett.

Bloomberg Wealth Manager, July/August 2005 – Jonathan Clements, who writes the “Getting Going” column for the Wall Street Journal has managed to resist tired angles, according to journalist Mary Rowland. “He’s been writing the column for nearly 11 years and has never departed from his fundamental advice to consumers: Devise a basic asset-allocation strategy with low-cost index funds and stick with it. During the past few years, though, Clement’s advice that searching for a fee-by-the-hour planner like those in Sheryl Garrett’s Garrett Planning Network is the only way to find an honest planner puzzled me. Garrett’s network is a valuable alternative, but it’s not the only game in town.” Rowland asked Clements to explain. She goes on to say, “Clements divides practitioners who provide financial advice into three groups: financial planners, brokers and insurance agents. ‘We say that brokers are the bad guys and financial planners are the good guys,’ he says. ‘But insurance agents and insurance products fly under the radar screen, and they get away with bloody murder. The size of the commission they get would make a full-service broker blush. This should been the Golden Age for financial planning,’ says Clements, ‘with the Baby Boomers heading for retirement.’ What would the ideal landscape be like? ‘I can imagine a world in which wealthy individuals pay annual retainer fees and the middle class pays by the hour. That would go along way toward resolving conflicts of interest.’”

Star Tribune, July 8, 2005 – If you are looking for a financial planner, “there are advisers out there who specialize in working with middle-income folks, like the pros affiliated with the Garrett Planning Network,” writes Kara McGuire in “Pay Dirt: Trusted Adviser.”

Tucson Citizen, July 6, 2005 – “Some money professionals are, for a fee, now offering quick counseling by phone or online,” writes Romi Carrell Wittman in “Cyber Sightings: Your advisor is on the phone – and online.”  She suggests visiting the Garrett Planning Network at www.GarrettPlanningNetwork.com as a referral source for a qualified financial adviser. For an hourly fee, these advisers will answer your questions, from the run-of-the-mill to the more complicated.

Pittsburgh Post Gazette, July 1, 2005 – In “Family Finances: Low-Cost Help Available for Personal Finances,” the Garrett Planning Network Web site was recommended as a place to locate financial advisors who charge hourly fees ranging from $150-$300 per hour.

Clark Howard Show, June 29, 2005 - Ilyce Glink, sitting in for Clark Howard of the Clark Howard Radio Show, was called by a listener with some financial planning issues. Glink suggested he speak with a Fee-Only financial planner and suggested he go to the Garrett Planning Network Web site to locate a planner near him.

Newsday, June 26, 2005 – In “Family Finance: Early Retirement Might be Dicey,” the Garrett Planning Network is a suggested resource for Certified Financial Planner™ professionals who can compare and calculate possible retirement scenarios for their clients.

Money magazine, June 7, 2005 – The writers of “50 Smartest Money Moves:  Money Management Tips” suggest hiring a financial planner to review your retirement and college savings plans.  “At http://www.garrettplanningnetwork.com, you'll find planners who work by the hour. Getting on track will take eight to ten hours up front, plus an hour or two for a yearly checkup.“

Top 25 Most Influential People: Investment Advisor Magazine, May 2005 – For the third consecutive year, Sheryl Garrett, CFP®, has been named one of the “Top 25 Most Influential People in Financial Planning.” Previously a successful wealth manager, Garrett left the wealth management firm to focus on serving middle-income clients. Because she began working with clients by the hour, they were able to obtain professional, commission-free advice whenever needed. She went even further by building a network that is expanding to more than 240 advisors dedicated to serving average folks. These planners are replicating her success by using the templates, processes and educational resources that Garrett developed while building her own firm. “I strongly believe that everybody should have access to competent financial advice,” she says. “Most folks can’t afford a full-time financial planner, but have questions about money all the time.”
 
Kiplinger’s Personal Finance, May 20, 2005 – In “Gifts for the Grad,” a gift certificate for an hour or two of professional advice is suggested as a practical option when choosing gifts for graduates.  According to the article, gift givers may consider Garrett Planning Network members that offer such gift certificates.  With Garrett planners, gift certificates are generally valid for a year, so grads can get guidance when they need it.
 
Reuters.com, March 30, 2005 – Idea #4 in Linda Stern’s column, “Finance: What to Do with Those Record Tax Refunds,” is to purchase a financial plan.  In the article Stern references The Garrett Planning Network, Inc. as a resource for finding financial planning assistance.
 
Reuters.com, March 27, 2005 – In “Finance: Strategies for Military Folk,” Linda Stern provides suggestions on how military personnel and their families can find assistance with their unique challenges in handling their money.  Stern points out that “the Financial Planning Association (www.FPAnet.org), The Garrett Planning Network (www.GarrettPlanningNetwork.com), and the Military Officers Association of America (www.MOAA.org), all offer reduced prices to “military folk” on quality financial planning services. 
 
Wall Street Journal, February 27, 2005 – The majority of employees do not know which investments to choose in their 401(k) accounts and employers do not help them.  If you need help, “consider hiring a financial adviser,” writes Andrew Blackman in “Why the Boss Won’t Help With That 401(k).”  “You can find advisers who charge by the hour at www.GarrettPlanningNetwork.com or www.feeonly.org,” the article recommends. 
 
Newsweek, February 14, 2005 – According to the article, “Money: Dial a Planner,” you can go to www.GarrettPlanningNetwork.com to locate money pros that offer quick counseling for questions like "Which mortgage is better?" or "Should I dump this fund?"  These advisers charge by the hour to answer everything from the quickie questions to the more complicated "I need a comprehensive retirement plan."
 
 
Wall Street Journal, February 2, 2005 – In “American Express Plans to Spin Off Advisory Unit,” some advisers say that for big institutions like American Express, their hurdle is still that consumers have a desire to see advisers as trusted advocates, not salesmen for financial services giants trying to sell an array of products.  "Consumers we talk to no longer want to be affiliated with supermarket kinds of financial-planning shops," said Sheryl Garrett, founder of the Garrett Planning Network.
 
Kiplinger’s Personal Finance, January 2005 – In “How to find the right financial adviser,” Anne Kates Smith guides readers through the maze of credentials financial advisers can have, the different services offered, the cost of advice and questions to ask when interviewing financial planners. The Garrett Planning Network was listed as a source to locate financial advisers.