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20 - MANCHESTER HERALD, Tuesday, Sept. 25, 1984 BUSINESS Business Watch out for financial planners In Brief The clamps are finally being slammed down on the Are many financial planners selling financial booming, generally unregulated and uncontrolled products under the guise of being financial planners? Clear tonight; Manchester, Conn. industry of "financial planning" — and not one instant Wednesday, Sept. 26, 1984 Clinic now too soon When I wrote a relatively critical column Your I think there are. That’s what you have to be sunny Thursday about financial planners in July. I was actuall.N being concerned about. Also, the profession has to be — see page 2 Single copy: 259 in chamber kind Money's concerned about it, continually monitor itself, and The Stop Smoking upgrade its standards. The field is really running wild. Where there are Worth Center of Manchester iJlanrtoatrr some attempts at regulation in individual states, the Inc. has joined the Sylvia Porter regulations are to a shocking extent ignored. Greater Manchester Defenders of the industry (if it warrants that How do you select the right financial planner for you? Chamber of deseription) say that the planners don't recognize Commerce, what they are supposed to do or don’t know how to go Look at the planner’s prior experience. Does he/she specialize in a particular facet of finant^ial services? Fan has about conforming to rules. The clinic, which is What are some danger signs to be alert to? No matter. With the number of financial planners in Some sort of credential or educational component is owned and directed by the United Slates running into the many thousands important. West pins hopes Arthur B. Shorts, Look for someone who is willing to do the plan only, The initials CHFC and C LY and C FP after a and with more and more of you — innocent investors and not to sell a lot of products related to the plan. Be historic opened about one year — paying a wide range of fees for the services of financial planner’s name are some proof of extremely Wary of "fr e e " financial planning, warns competence and of fulfillment of ethical and ago and employs four planners who may or may not be qualified, the time Dr. Robert T. I^clair of the American College School people. The clinic, lo­ has come to warn you in the loudest of voices: experience requirements. Such other professional of Advanced Career Studies at Bryn Mawr, Pa. Be credentials as CPA or a law degree don’t really tell cated at 388 Main St., is Beware! willing to pay a reasonable fee for a financial plan. future you anything. affiliated with over 200 on Gromyko talks I would be reluctant to work with a sole practitioner. other centers in the The financial planning field is at the state of evolution By Sarah E. Hall What is a financial planner? Arthur B. Shorts country. where it’s still "let the buyer beware.” Herald Reporter Is it possible to obtain an objective financial plan? 41 The two diplomats then retired general, there is feeling that, A planner does not sell products and does not even Does a financial planner's affiliation with an A huge, steam-powered fan from united Press International to an adjoining conference room although there Is no substantive provide a service. Financial planning, a process organization that sells financial products constitute a Yes. How good the plan tends to be may be as much the Cheney Brothers’ ribbon mill iTMiTirn MArrirsMc together with their staffs, three change in the Soviet position, the 2 Allison named as veep developed over a prolonged period, allows the planner conflict of interest? a function of the client as it is of the planner. You must will be donated to the Manchester uiNllbiU NATIONS — In a experts and an interpreter to a mood and atmosphere is a little determines the financial objectives of a client and HARTFORD — Kathryn B. Allison of the be heavily involved in the process. Historical Society soon — if surprisingly cordial atmosphere. side, and got down to business: the softer on the part of the Russians " create a plan to accomplish these objectives, mostly Marketing Department of the Connecticut Bank The potentiai is there. If a stockbroker broadens the When shopping for a financial planner, be aware: members can figure out where to Soviet Foreign Minister Andrei seriously troubled state of U.S.- The U.S. official, who spoke on through the use of various financial media (securities, and Trust Co. has scope of his services to include financial planning, he It’s still your plan; it’s still your responsibility. You put it, that is. Gromyko and Secretary of State Soviet relations. the condition he not be identified. in.surance, trusts, savings accounts, etc.). The been elected an as- may, with every good intention, orient his activities can’t pass that buck to the financial planner. The Though the society may lack a ^ today for the The session precedes by two played down the first negative planner reviews and revises both the plan and the s i s I a n t vice toward investments. The same can be said of the more you bring to the planning process the more proper place to put the giant high-level U.S.-Soviet meet- da>s Gromyko's talks with Presi- reactions from Soviet officials to client’s objectives on a periodic basis. |)iesidem. insurance agent, attorney or CPA. satisfying the whole experience is likely to be. machine, some members hope it **'S>u*'’^**'^ dent Reagan at the White House— the speech Reagan gave at the Manager 'of the will become the centerpiece of a Their smiles and relaxed mood Reagan’s first substantial round of United Nations Monday, where he Communications proposed textile museum to show­ while photographers and reporters talks with a Soviet official since he called for a new constructive 6 Department, Alli­ And choice of long distance carriers case the Silk City’s most famous recorded their brief public greet- was elected. dialogue between the two son is currently industry. 1^ mgs were in sharp contrast to the Gromyko has sandwiched be- superpowers, working on special The First Hartford Realty Corp.. stormy session a year ago in tween his talks with Shultz and The official said it is not clear a.ssignment as man­ which is converting the ribbon mill ^ 4* w Madrid when they met just after Reagan a meeting in New York that the Soviet statements, includ- ager of the bank's Equal access offers more savings on Pine Street into apartments, ^ ^ tb® Soviets shot down Korean with Democratic presidential can- ing a negative speech in Moscow signage project, hopes to give the machine away. Airlines Right W?. ^ didate Waller Mondale. Tuesday by Soviet President Kon- which is addrc.ssing “ We’re pressed for time,” mar­ ________________ Gromyko. 75. the Krem lins Western foreign ministers, most stantin ChernenRo, * were in re* CRT's identification Bv Steven W. Svre The big companies competing against AT&T, such keting manager Laurel Nichol said ^ *®**®*®b policy expert for 40 years, of whom have dealt personally sponse to Reagan's spi^ech. He said through exterior, in­ United Press International as MCI and GTE Sprint, have their own equipment to this morning. "W e’ve got to get it was 14 minutes late for the meeting with Gromyko at the U.N. General the statements may have bi*en terior and Barney ^ carry calls. out of there. It’s just so big, and in the office of America s U.N. Assembly session, gave a senior prepared long in advance, as is (automated teller BOSTON — Equal access, another in the series of Some others, like the much smaller First Phone takes up so much room.” Ambassador Jeane Kirkpatrick. u.S, official the impression that often the ca.se with Soviet officials, changes in telephone service, is filtering into New Link Service, are AT&T resellers. They buy AT&T’s The machine stands near the However, Eastern European She'Slil5i?i!"m Kathryn B. Allison England and will affect a large part of the region over WATS lines and use them to complete customer calls. m ill’s boiler room, in the middle of midtown Manhattan traffic, peared to have softened in the past sources said Tuesday they have 1972, holding various branch-related positions, the next two years. The volume discount they get from AT&T accounts for a space where two apartments are t r ‘u been told by Soviet diplomats at including manager of the Ellington Road Office. Equal access requires local telephone companies enough money to make a profit while giving going to be. Adam Janise wski, who gether, smiling and making smaU The .senior State Department the United Nations that while Allison attended Skidmore College and will formerly controlled by American Telephone & customers a lower rate. is supervising construction at the talks ^ n n g the photography ses- official sat in on meetings Shultz Reagan’s tone was milder than in Telegraph to make it easier for its customers to use graduate from Williams College School of Some long distance carriers direct most of their site, described the apparatus as a n» o ch . ■ the past, he did not include a long distance carriers of their choice. nese, Shultz said, and the auto- ministers of four friendly coun- phrase crucial to the Soviets: that Ranking in June. She also has completed various attention to corporate accounts, in one case offering “ huge, belt-driven heat- A Customer using MCI, for example, will only have matic ones made lots of noise, tries: West Germany.

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