North Shore Financial Advisor Addresses NAPFA National Conference
North Shore financial advisor Patrick Doland moderated a panel at the 2006 NAPFA National Conference held in Grapevine, Texas on May 20 on how emerging financial planning firms can improve their practice.
This year’s conference was entitled Fast Forward to the Future and speakers included Gail Sheehy, best-selling author and cultural observer, Anthony Chan, Managing Director and Senior Economist with JP Morgan Asset Management and David P. Kelly, Managing Director and Economic Advisor with Putnam Investments.
“There’s only so much you can learn from reading a book.” Doland stated when asked the purpose of the session. “At some point most individuals want to talk with others who have had similar experiences.” Doland, a CFP™ practitioner, and president of Northbrook based Reason Financial Advisors, Inc., started his firm in 2003 after five years as a principal with Successful Financial Solutions, also of Northbrook. “It’s important to give back to the profession,” Doland stated “after so many other planners shared their talents with me while I was getting started in my career.”
Doland’s clients include individuals and families throughout the Chicago area, including northern Cook County and Lake County. Services include investment management, retirement planning, education planning, income tax planning and estate planning. He is a member of NAPFA and serves on their Midwest Regional Board. He is also active in the Financial Planning Association (FPA) and the Greater North Shore Estate and Financial Planning Council (GNSE&FPC).
The National Association of Personal Financial Planners (NAPFA) was founded in 1983 and is the largest professional organization representing comprehensive fee-only financial advisors. NAFPA members are prohibited from receiving compensation other than client fees and are, therefore, not compensated by the sale of products they recommend. As with doctors and lawyers, NAPFA members take a Fiduciary Oath that requires them to place their client’s interest ahead of their own. This differs from someone who is held to the lower “suitability” standard, such as most stock brokers, who can base their recommendations on the amount of commissions they receive, even if they are aware of a similar investment with substantially lower costs.
Reason Financial Advisors, Inc. is an independent, fee-only financial planning and investment advisory firm and works primarily with individuals and families in the Chicago metropolitan area on their financial planning and investment management needs.