IN THE KNOW
Monthly Newsletter
October 2019
At ML&R Wealth Management , we want to ensure our clients are In The Know. In this month's newsletter we have timely articles on tips for defining your personal investment philosophy and helping aging parents with their finances. As well as a piece from Dimensional that looks at the 10 enhancements to investment advice. We are a firm that understands that managing your assets is about more than money. It is about empowering your future. At ML&R Wealth Management, we focus on you.
Carli Smith , CFP®, Wealth Management Advisor 

All of us have a value system or a set of beliefs regarding the meaningful parts of our lives. Think back to how you developed your values and beliefs. As a child, they tended to reflect those of your family. As you grew into adulthood, your beliefs and values may have gone through a few variations depending on the point in life you were in, the experiences you went through, and the people you surrounded yourself with. The more educated you became and the more independence you gained, the more your value and belief system was independently shaped and developed.

The evolution of your personal investment philosophy is no different than any other set of beliefs or values you have. What exactly is an investment philosophy? In simple terms, it is nothing more than how you view the world of investing. To some, they believe they can beat the market. To others, they believe in a longer-term approach and controlling what is possible to control. I’ll explain this in greater detail soon. More times than not, your opinions and feelings on investing were initially shaped by your family experiences followed by your personal experiences and people you surrounded yourself with.

Vanessa McElwrath, CFP® , Wealth Management Partner

As the seasons of life change, adults may need to assist and care for aging parents with their money and finances. When the time comes, talking finances can be emotional for all parties involved. Advisor, Vanessa McElwrath joined KVUE to give some tips to helping aging parents with their finances. 
Financial Wellness Q&A
In this section we will address common personal finance questions. Email socialwm@mlrpc.com if you have a question you would like answered.



Question: at is the difference between an investment philosophy and an investment strategy?

Answer: An investment strategy is much narrower. It is a way of putting into practice an investment philosophy.
1 0 Enhancements to Financial Advice

Dimensional is celebrating 30 years of working with financial advisors, a collaboration that has helped change the way the world thinks about investing. To recognize that impact, we compiled 30 ways investors can benefit from the industry’s transformation, and we offer the first 10. —Dave Butler, Co-CEO

  1. The advice industry shifts from ringing up sales to building client relationships. With the rise of the independent financial advisor, a new financial advice model takes hold—one that puts the client at the center and changes the way advisors charge for services.
  2. The regulatory environment signals that advisors ought to act in clients’ best interest. Regulatory rules obligate registered investment advisors to act in the best interests of their clients, which sets a higher standard for serving them.
  3. Investment advice evolves into comprehensive wealth management. Over time, investment advice advances beyond individual security selection to encompass a broader scope of services, from asset allocation to wealth management. Advisors focus on understanding each client’s personal circumstances and objectives.

Upcoming Event

 ML&R Wealth Management Lunch & Learn: Fiduciary Training
 
Join the Retirement Plan Services team for an informative luncheon designed to provide practical and actionable information to help plan sponsors manage fiduciary responsibilities and alleviate the administrative burden.
ML&R Musings

" This is the longest recovery on record, but the slowest since World War II. That suggests not so many excesses have built up.” ~ Howard Marks, quoted in the WSJ, August 7
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About ML&R Wealth Management:
At ML&R Wealth Management, we take investing personally. Your ML&R Wealth Management advisor will work to develop a lasting relationship with you, keeping in touch to understand your changing goals and to provide an asset management strategy to help achieve them. Whenever you need sound financial advice, you have a direct line to a trusted advisor.

For over 20 years, we have served individuals, families, businesses, and nonprofits with wealth management services, custom retirement and 401(k) plans, and portfolio management.

We believe in accountability and transparency and operate as a fee-only advisor with fees calculated solely on assets under management.
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