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Not sexy, but sound.

The article "Living the Millionaire Life" by Lynnette Khalfani (December 2006) was perhaps the most fundamentally sound article on investing I have seen in any magazine. Ms. Khalfani certainly did her homework. The 10 lessons she provided are important and relevant in any economic cycle. The lessons are also consistent with BLACK ENTERPRISE's Black Wealth Initiative and should be re-emphasized in every issue. Sure, these 10 lessons are not as sexy or exciting as buying and selling "hot" stocks, but history--and statistical analysis--proves their worth.

The article "Beware of Deceptive Financial Advisers" was also good but somewhat incomplete. First, none of the common warning signs you mentioned are concerns when a fee-only, hourly, certified financial planner is hired. Second, two important professional organizations for binding fee-only financial planners were not mentioned: The National Association of Personal Financial Advisors (www.napfa.org) and The Garrett Planning Network (www.garrettplanningnetwork.com). As one of the very few African American members of these organizations, I would appreciate their recognition as viable alternatives to organizations with potentially "deceptive" advisers.

I find that very dew African Americans know where to turn dot independent, commission-free financial advice. I hope that BE can help educate our community by introducing its readers to all the alternatives. Keep up the good work!

Bruce K Sneed, CFP(R), President

BK Sneed Financial Planning

Woodbridge, VA

bruce@bksneed.com

www.BKSneed.com
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Title Annotation:Letters
Author:Sneed, Bruce K.
Publication:Black Enterprise
Article Type:Letter to the editor
Date:Mar 1, 2007
Words:231
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