Wealth Planning&Management, LLC
Report to Clients and to Prospects
First Quarter, 2006

We see the best performance statistics of our nine-year history. The numbers are so good, compared to the S&P, for the periods we measured, that readers of this report should take heed: we have had difficult years, especially in the early part of this decade. For a perspective on our work, persons evaluating our performance should read reports from those periods, all available on this web site. Only in this way can you gain a balanced understanding of our long-term results.

We are unique in two respects. First, we advertise service, not results, because results are fickle when measured over periods of less than five years. Second, all of our reports from the inception of WP&M in 1997 appear on this web site. So far, we have found no other firm providing this public service.

The unusual aspect of our recent work is that we are out-performing the S&P index by a wide margin. Normally in up markets we lag the S&P. Normally in down markets we do better than the S&P. Here are the preliminary statistics for two time periods:

From December 31, 2004 , to March 31, 2006 , the composite return of our portfolios was 10.90 %. Isolating only stocks in the composite gives a result of 13.46 %. For this period, the return on the S&P was 5.45 %. This time period is 15 months.

For the three months of this year, portfolios earned 6.09 %, and stocks in those portfolios earned 6.14 %, compared to 3.73 % for the S&P.

The statistics above are “composite” returns, a type of average, of 81 different accounts. We have not measured dispersion among the accounts, but, intuitively, we know that dispersion is wide, depending on dates of inception, investment objectives and varied personal objectives. The statistics are “preliminary” because we have not completed posting in all accounts. Some posting is withdrawals, but most is income. Therefore, we believe that results will be better upon completion of posting, but to an insignificant degree.

Managing Partner Paul Coan continues to earn professional distinctions. He is an active member of the Board of Directors of the Financial Planning Association of Indiana, and he has qualified for referrals from the National Association of Fee-Only Financial Planners. He is working toward an additional professional designation.

John Guy, CFP®, turned 65 in February. During that month, he served as an expert witness in a United States Federal District Court trial. The case involved security selection and portfolio management. This was his first experience as an expert witness. He has previous experience as a securities industry arbitrator.

Former Principal Managing Partner Nancy Haddock is becoming an independent advisor under the laws of New Jersey.

Jwg--04-12-2006