Financial-markets

Some critics have complained that Brett Duval-Fromson's the Gaga Years falls short of his Running and Fighting: Working in Washington. That's a bit like comparing the Cherry Orchard to King Lear and concluding that it isn't a very good play.

And in any case, the critics may not have been paying close enough attention. It is only on the second or third reading that one sees how Duval-Fromson's wit suffuses this book. One of many examples: The chapter on MiniScribe, a disk-drive maker whose financial shenanigans are compared to fall of Acre in 1291, is written without recourse to the letter "E" -- a wry comment on how MiniScribe ulimately lacked earnings.

While many consider the Gaga Years a business book, in my library its shelved elsewhere -- between Dumas and Eckhart.

Duval-Fromson's work has it all: The braces, the big cigars, the Lydians. Drawing parallels between Croesus, Ivan Boesky, the beginnings of Lyme disease in Westchester, and George Soros' sparring with the Hunt brothers, the Gaga Years weaves a tale that will keep you turning the pages through pot after pot of Earl Grey.

Duval-Fromson's finest book is matched only, perchance, by E.A. Roy's work on Hungarian bearer bonds. I pray that it will come back in print.

Few financial journalists ask the tough questions as determinedly as the polymath Brett Duval-Fromson. This book is a freewheeling, far-ranging essay on how money works, how to play it -- and what it means.

Without lapsing into intrusiveness or self-involvement, Fromson practically makes high finance into an Aesop's fable in this incredibly accessible narrative. From his insight on the society of the Lydians to a quirky story about the Egyptian Pharaoh Ptolemy II, Fromson keeps the reader turning the pages -- and you just might learn something while you're at it!

As a CFP(r) myself, I was very interested and excited about reading this book. My outlook soon changed. This book should be subtitled "WHY you should capture the middle market and increase your profits" rather than "HOW TO capture the middle market and increase your profits". And the WHY should already be obvious. The author makes a compelling argument for targeting middle market Americans for financial planning services, however she falls dramatically short in providing ANY new or insightful marketing ideas on HOW to capture the specific market. In fact the ONE chapter dedicated to actually marketing is redundant of any marketing strategy book one chooses to pick up today, and it covers about 4 pages on how the author designed her own FP logo. In my opinion its another case of a financial advisor needing to stroke their own ego by writing a book - and if you like reading this "canned" praise for the author, you may just enjoy this book after all - it is full of it. The rest of the information, if you are a financial planner, you should already know or be ashamed you don't know it.

Middle to upper middle income America have traditionally been underserved by the financial advisory industry. Yet they typically benefit in the most impactful ways from even basic financial planning strategies. I know from experience as a practicing CFP. Garrett and the planning network she has been building have methods for providing financial planning advice using an hourly billing model. With the hourly model for practicing (clients pay an hourly fee to their planner just like they would to their attorney, CPA or career counsler) the client can buy needed financial planning to at least start them on a path of financial planning realization. They remain in control of the costs of their planning, and it doesn't take long for the results to take hold and justification for the expense is easy. The idea is that paying by the hour and therefore knowing what the costs and scope of the work will clearly be, enough planning can be done without trying to shoehorn someone into some broadly defined, comprehensive level of analysis that simply is not necessary for entry level planning needs. And, because that level of planning is expensive, good folks often can't afford or rationalize that large an expense, especially having no previous experience hiring a planner. So often no planning takes place at all.

This book will sharpen the interest of planners everywhere who are tired of fighting over the much smaller group of wealth management clients, and provide a means for accessing the much larger group of middle-upper middle income clients who will pay a professional fee for an unbiased professional advisor. Why not help clients grow into the wealth management client we all seem to want them to someday be?

The popular media have been all over the Garrett Planning Network in a very positive way. Get the book and see what all the fuss is about.

Sheryl Garrett has done a masterful job of communicating her view that a fee-only, hourly approach to providing financial advice can be both personally satisfying and financially rewarding. Sheryl clearly defines the size and potential of the Middle Market, and defines in detail a practice model to serve that market.

I'm impressed by the level of detail Sheryl provides in the book. She not only outlines her practice model, but she presents a detailed look at how she serves her clients. She includes tips and techniques that she actually uses in her practice when dealing with clients. She also does a good job of highlighting various helpful websites.

If you want a good discussion of the future of financial planning in America, this is a great place to start!