STAYING ENGAGED IN FINANCIAL PLANNING
In a June 2014 report entitled, “Does Past Performance Matter? The Persistence Scorecard,” S&P Dow Jones Indices reported the following: “Very few funds can consistently stay at the top. Out of the 687 funds that were in the top quartile as of March 2012,
These findings come as no surprise to P. Christopher Music, founder and president of Econologics® Financial Advisors based in Clearwater, FL, who said he has never seen a study confirming that a fund manager can consistently predict over time which stocks will perform well, and who can accurately predict when to buy and sell.
Econologics® is a results-based financial planning® system Music developed in direct response to the market crash of 2008. “Econologics® is actually a subject on personal finance that really evolves current financial planning technology to a new level, based on predictable results, as opposed to being more sales-oriented for financial products and ser- vices,” Music explained. In addition to Econologics® Financial Advisors, which is a financial planning firm working with professionals in private practice, Music also operates Econologics® Institute, a financial education organization.
While there is no minimum investment required to begin working with Econologics® Financial Advisors, there are some quite unique client requirements. Music developed a three-day workshop called “Private Practice Millionaire® Academy” that all clients are required to attend along with their spouses. Clients learn about the Econologics® system and about what Music calls, “results-based transition planning™.” That is, how to build maximum transition value into a profes- sional practice – something that Music said is not addressed in the financial planning world when dealing specifically with small business owners.
“My belief is, if a person is willing to increase the income of their practice, is willing to take a part of those profits every year and reinvest them into personal wealth – and is willing to stay engaged in our financial planning process – then we don’t really care what they start with as far as assets,” said Music. “As long as they are willing to commit to the process and do it, then everybody wins.”
Music’s view on the fiducia- ry responsibility of a personal financial advisor is an all-encompassing one, and far from textbook. “We help our clients achieve an optimum financial condition in their households as best we can, regarding their whole entire financial experience – not just their investment experience. But see, that is a unique definition different from what any other financial advisor would define as fiduciary responsibility,” Music insisted.
Appearing on national television as a financial expert, Music has been featured in Forbes and Newsweek, and is also a best-selling author.