Here is an interesting Wall Street Journal article on the turmoil within the big name brokerage firms. Brokers are switching from firm to firm, and many are leaving to use our independent model:
http://online.wsj.com/article/SB126256739671014281.html
I especially like the Morgan Stanley Smith Barney spokesman that says, “The majority of departures have been people with below-average revenue production.” Keep in mind they are talking about their own revenue instead of how well their clients are doing. With these firms, it’s all about commissions.
Independent firms like our own don't have a conflict of interest. We don't make money from trading commissions. Our fee-only system is based on assets under management, so the more we grow client portfolios the more we (and our clients) are rewarded.
David Vomund
Monday, January 4, 2010
Tuesday, December 1, 2009
Videos
Here are two short videos on our managed account programs. They were filmed in mid-November:
http://www.etfportfolios.net/videos11/index.html
David Vomund
http://www.etfportfolios.net/videos11/index.html
David Vomund
Friday, October 30, 2009
Economic Outlook Part II
In our August 17 blog we boldly predicted the economy would grow by at least 3% in the third quarter. Thursday's report showed growth at 3.5%. We also said when that happens stocks would be far higher. Back then the Dow was at 9135. Now it stands at 9700. I expect slower growth in the fourth quarter, but still growth nontheless.
Those who invest in the market based on today's news will once again be on the wrong side. Notice the Dow's crossing of 10,000 was not a new buy signal. It was a time of profit taking. The positive GDP number was not a new buy signal. It will likely be a time to reduce market exposure. We moved client portfolios away from fully invested on October 15.
Those who invest in the market based on today's news will once again be on the wrong side. Notice the Dow's crossing of 10,000 was not a new buy signal. It was a time of profit taking. The positive GDP number was not a new buy signal. It will likely be a time to reduce market exposure. We moved client portfolios away from fully invested on October 15.
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