Michael J. Schussele, C.P.A. The Pursuit of Financial Happiness ®

M.A., Registered Investment Advisor, Fiduciary, Fee-Only

My professional publications and blogs at The Pursuit of Financial Happiness ™ have been recognized, linked, and republished by Economist's View, naked capitalism,
Credit Writedowns, and Advisor Perspectives, among others, as well as academically cited.
I do my own macroeconomic and financial research and I do not portray third party information as my own.

Under Illinois Law ((215 ILCS 5/500-15)) it is a Class 4 Felony to give insurance advice/analysis without an insurance license whether one sells or not. An Investment Advisor Representative, whether fee-only or not, has a direct fiduciary duty to provide such an analysis and/or advice in retirement, financial, and estate planning and such advice is not incidental. Beware if any fiduciary and/or fee-only advisor tells you otherwise. You should report them to the Illinois Department of Insurance, the appropriate State's Attorney, and the Illinois Attorney General.

Is Modern Portfolio Theory Wrong?

Modern Portfolio Theory is the mantra of many ill educated advisers who either do not understand MPT or are stuck in the old MPT theories of 40 years or more ago. The old "rules" have not withstood financial research and placing people in investment portfolio boxes does not work.

William Sharpe has moved on with MPT and CAPM to acknowledge the need to plan on individual needs in which investing and withdrawal rules need to be flexible consistent with market data and returns and individual needs.

W. F. Sharpe: Retirement Financial Strategies

My professional publications and blogs can be found at The Pursuit of Financial Happiness .
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