• Revenue Cycle Management
  • COVID-19
  • Reimbursement
  • Diabetes Awareness Month
  • Risk Management
  • Patient Retention
  • Staffing
  • Medical Economics® 100th Anniversary
  • Coding and documentation
  • Business of Endocrinology
  • Telehealth
  • Physicians Financial News
  • Cybersecurity
  • Cardiovascular Clinical Consult
  • Locum Tenens, brought to you by LocumLife®
  • Weight Management
  • Business of Women's Health
  • Practice Efficiency
  • Finance and Wealth
  • EHRs
  • Remote Patient Monitoring
  • Sponsored Webinars
  • Medical Technology
  • Billing and collections
  • Acute Pain Management
  • Exclusive Content
  • Value-based Care
  • Business of Pediatrics
  • Concierge Medicine 2.0 by Castle Connolly Private Health Partners
  • Practice Growth
  • Concierge Medicine
  • Business of Cardiology
  • Implementing the Topcon Ocular Telehealth Platform
  • Malpractice
  • Influenza
  • Sexual Health
  • Chronic Conditions
  • Technology
  • Legal and Policy
  • Money
  • Opinion
  • Vaccines
  • Practice Management
  • Patient Relations
  • Careers

Cutting-edge Advances in Investing


Recently, novel and cost-effective financial assistance has become available to independent minded investors. Certain websites enable clients to create and maintain their own portfolios, use index tracking investments, and charge only a flat fee.

Recently, I signed up for a month trial of Investor’s Business Daily (IBD), a weekday paper similar to the Wall Street Journal. It gives information not found elsewhere and is a good publication for the serious investor. Nevertheless, to make it worthwhile, I would have had to take time to utilize it. That was the crux. I didn’t.

Further, at the end of the month, I was busy and didn’t notify IBD that I wanted to terminate. This oversight, of course, cost me money, as the institution had my credit card number and charged me for the next month. As a result, I paid for something that didn't help me. Granted, it was my own fault, but if this happens too often, I could waste a lot of money. So could other people who do the same thing.

Still, this is what continues to happen when investors put their hard earned cash into mutual funds or entrust it to managers who pick mutual funds or stocks for them and can’t outperform the market. The clients are optimistic that the manager can do better though statistics suggest otherwise.

Recently, however, more novel and cost effective assistance is available to independent minded investors. For example, there is a website that enables clients to create and maintain their own portfolios. Additionally, new advisor services are lately accessible that use index tracking investments. They are low cost. Moreover, financial planning is now to be had for a fee only and not a percentage of assets, thereby saving the client money. And, lastly personalized investor education is another option that equips the novice to make his or her own investment decisions.

Options for enhanced client control and fewer expenses

The website that helps you manage your own portfolio: uses asset allocation, the cornerstone of all investing. The fees are low and they keep an eye on tax consequences. This provides an internet product that a motivated investor can handle himself. If he wants more attention, Market Riders offers Market Riders Coaching Service for an additional cost.

Advisor management services that save you money: is one that provides portfolio management for a low fee, 0.25% of the portfolio. The outlay for the tracking indexes chosen is, of course, extra, but if the average is 0.20-0.25%, the total charge would be somewhere around 0.45-.50%. This is in comparison to one per cent or more for the typical advisor.

Financial planning fee only (not a percentage of assets): Garrett Planning Network provides names and contact information for professionals who are certified financial planners (CFP) or in the process of becoming a CFP that charge hourly rates. This limit on the outlay of money for the client per year can mean tens of thousands of dollars in his pocket. For example, one per cent charged as a percentage of assets on a one million dollars portfolio is $10,000 dollars, but a flat fee of $400.00 for a two hour session three times a year means an outlay of only $1,200.00, $8,800.00 less.

Education services: My website,, provides investors with individualized teaching services. It is an example of Lao Tzu’s famous quote, “Give a man a fish; feed him for a day. Teach a man to fish; feed him for a lifetime." This quote vividly illustrates that understanding is the key to monetary self reliance as well as feeding oneself. Investor education provides the tools needed for an individual to make the best investment choices tailor made to him.

Each of these options provides something different and better for some than for others. For those individuals still wanting complete services, but at a lower cost, might be ideal. On the other hand, if a gentle baptism into independent investment choices is desired, education could be just the ticket, such as offers.

On the other hand, for those ready to immediately take the reins of their own portfolio, websites such as or fee only financial planners through Garrett Planning Network could be what the doctor ordered. Whatever route is chosen, it is likely to be an improvement from managed mutual funds or advisors that charge a percentage of assets. At a minimum, the costs are lower and if simple investment guidelines are followed, the results should be as good or better.

This information and content is offered for informative and educational purposes only. MyMoneyMD, LLC is not acting as a Registered Investment Advisor, Investment Counsel, Tax Advisor, or Legal Advisor.

Related Videos
Victor J. Dzau, MD, gives expert advice
Victor J. Dzau, MD, gives expert advice