Wealth Planning & Management, LLC For the period starting December 31, 2005, and ending June 30, 2006, portfolios managed by WP&M earned a composite index return of 3.67 % compared to 1.76% by the Standard and Poor’s Index of 500 stocks. These data are not annualized. The result for stocks alone was 3.42 %, which means that fixed income investments performed better than equities during the quarter. For the period starting December 31 of the year earlier, 2004, our portfolios earned 8.43 %, annualized, compared to 3.19 % by the S&P 500. Stocks alone returned 9.24 %. No individual account earned these returns, some more, some less. That is the nature of a composite, which is similar to an average. Rarely does WP&M outperform the S&P by these margins. Clients and prospects should not expect similar out performance in the future. In fact, as the old saw goes: past performance neither implies nor guarantees future results. As of May 1, Nancy Haddock was operating independently of WP&M. As reported earlier, she has an independent firm in WP&M faced a computer failure in July. Our primary computer lost its capability to generate a video signal to the monitor. Our data was secure, but we could not see it. After an intense few weeks working with Dell, the problem appears resolved. Since we can view statements from our custodians, our capability to make investment decisions was not compromised. About half our client reports and invoices were delayed, and we were not able to compute the performance figures shown above. John Guy has written frequently about a lawsuit against the Securities and Exchange Commission in which our association, The Financial Planning Association, is one plaintiff. Meanwhile, partner Paul Coan is moving up the chairs of the local chapter of the FPA. Together with the Certified Financial Planner Board of Standards, the FPA helps members remain current with our continuing education requirements, including the ethics component. JG 8/6/06 |