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Pro Money Talk » 2006 » August

Archive for August, 2006

Norm Boone Discusses The Investment Policy Statement

Thursday, August 3rd, 2006
 
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How do you keep your investments on track and appropriate for your individual goals and needs?

The Investment Policy Statement is an increasingly common tool used by professionals and consumers to provide a clear road map for the investment planning process. Our interview guest, Norm Boone, is a recognized expert on the subject, having published a book (Creating an Investment Policy Statement) as well as a comprehensive online tool for creating and maintaining investment policy statements (IPS Advisor Pro) used by professionals. Norm is one of the best-known and most-respected financial advisors in America (see his complete bio, below).

In this episode of Pro Money Talk, we explore the history and usage of Investment Policy Statements, as well as their application in the lives of successful investors — whether or not you use the services of an investment professional for managing your portfolio.

Links and Information:

• Information on Norm and his firm may be found at http://www.mosaicfp.com/.

• Norm and Linda’s book, Creating an Investment Policy Statement, may be found on Amazon.com.

• The IPS Advisor Pro online tool is available at http://www.ipsadvisorpro.com.

Disclosure: Your Pro Money Talk hosts, Jason and Peter, played a role in assisting the Financial Planning Association in publishing Creating an Investment Policy Statement, and do receive income from sales of the book. The book and the website are intended primarily for investment professionals. Jason and Peter are not affiliated in any way with IPS Advisor Pro or Mosaic Financial Partners, Inc.

Bio

Norman M. Boone, MBA, CFP® is the founder and President of Mosaic Financial Partners, Inc. He has been regularly recognized as one of the nation’s best financial planners. Norm has been cited as one of “America’s Best Financial Advisors” by Worth magazine every year since the list’s inception in 1994, and as one of the “Best Financial Advisors for Doctors” by Medical Economics magazine on three occasions. Mutual Funds magazine named him one of the “100 Best Financial Planners” and both the 2004 and 2005 issues of Worth/Robb Report cited him as one of “The Nation’s 100 Most Exclusive Wealth Advisors.” Norm is widely quoted in the press, as well as being referenced in a recent book “Best Practices for Financial Advisors”.
Norm earned his CERTIFIED FINANCIAL PLANNERTM certification in 1984, after receiving his undergraduate education at Stanford University and his MBA in Finance from the Harvard Business School.

Norm recently concluded a three-year term on the national board of directors of the Financial Planning Association. He helped found the San Francisco Society of the Institute of Certified Financial Planners and has served in many capacities locally, including president of the San Francisco chapter. He chaired the 1995 IAFP Conference for Advanced Financial Planning. Norm has previously served on the Advisory Council for the institutional division of Charles Schwab & Co., as president of the East Bay Estate Planning Council, and as a member of the TIAA-CREF Institutional Advisory Board. He currently serves on the boards for the Northern California Planned Giving Council and the San Francisco Estate Planning Council. Norm is a member of the Commonwealth Club and the San Francisco Chamber of Commerce. He is a founding partner of MedCentric and an advisor and early investor in Benivest, both of which are designed to expand financial planning to specific segments of our communities.
Norm has been an editorial columnist for the FPA’s Journal of Financial Planning and wrote the technology column for CCH’s Journal of Retirement Planning. He has authored several articles on prudent investment procedures, the impact of expenses on investment performance, small company retirement plans and a variety of other topics. He is currently a contributing editor to Wealth Manager magazine, one of the industry’s top trade journals. He is the co-author of “The Investment Policy Statement Guidebook,” a software product distributed by Ibbotson Associates. He and Linda Lubitz have authored the book from FPA Publishing called “Creating an Investment Policy Statement—Guidelines and Templates.” Their new website www.IPSAdvisorPro.com will provide tools to help practitioners easily and quickly develop best practice investment policy statements for their clients.
Prior to founding his own company, Norm spent six years in banking (with Wells Fargo and Hibernia banks) and another four years as the chief financial and administrative officer for two successful operating companies. He served as an officer in the U.S. Army and spent time as a VISTA Volunteer.
Norm recently summited Mt. Kilimanjaro, Africa’s highest peak.