No. of Recommendations: 6
Cherishlyn
Thanks for the link. I downloaded it this morning and read it in a couple of hours on my Kindle DX.

I retired from financial planning a few years ago (although I'm still active in my local FPA chapter, just to try to keep current...), so I'm always interested in reading others recommended approach to personal financial management. With that in mind, let me offer this on the e-book:

This is a book written to women who do not understand or are intimidated by the investment and personal financial planning universe. The title implies 'financial boogie men', which she lists as one of the risks to be wary of. Just about every word of it is in the context of the interpersonal, and is really a collection of warm-fuzzies, anecdotal stories and continual reference to either fairy tail figures, domestic relationships, clothing, food or other topics the average woman would be able to identify with. Now, understand...I've got an engineers brain who looks for hard facts and the rules, and from this will engineer my own solutions. This book is on the other end of the spectrum.

I think this is an excellent approach for this audience, providing it then leads the reader to firm facts....but with few exceptions, this book speaks more in generalities, with little to sink ones' teeth into. For example, here are the author's criteria for selection a financial advisor (she never uses the term 'financial planner')
1. Passionate about their work
2. > 3 years with the firm
3. >3 years in the business
4. Good communicator
5. Has support and admin staff
6. Office returns calls within 24 hours
7. A 'clean record', that can be checked through 'Broker Check'
8. References
9. The right age for the prospective client
10. (sorry, I only found 9...might have missed one).

What is missing are any discussions of things like credentials, the ADV II form and perhaps most importantly, the method of compensation and how to determine it and then determine what one is actually paying. In the chapters that speak to finding a 'financial advisor', she never refers to the CFP, CPA/PFS or CFA designation. She never mentions NAPFA or the Garrett Network...two sources ideal for this audience. She on several occasions cautions about excessive fees, but other than mentioning a mutual fund's expense ratio, says nothing about loads, commissions, account or fiduciary fees or transactional fees and how to find them.

My sense is that the author, Crystal Moradi, does not know very much about the technical issues surrounding qualified plans, portfolio management, asset classes (at one point, she referred to a REIT as a 'fund'), IRA rules, withdrawal strategies, savings requirements, and so forth. Her one technical reference to the 'advisor' holding a FINRA securities license suggests she probably works for one of the BDs, like Ameriprise or LPL, as she refers to herself as an 'advisor' with 'clients'. She provides no other bio info...at least that I could find.

Overall, it flows well and feels good, but is lite on any details. This is a good referral to a woman you know that is early in the process and needs some very basic positive encouragement.

BruceM
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