Hi, I’m Rita Janaky, an investment management coach located in Colorado Springs, Colorado. I work with intelligent women who want to take control of their financial futures. They are typically women who either earned it, inherited it or received it through divorce, and found themselves suddenly facing important investment decisions. I am not a financial planner – I am an investment manager. And, I consult with people who are looking to buy a business or sell their current business.
Why do I do this work? Because I enjoy helping women remove stress from their lives by showing them how to make financial decisions that are aligned with their values or beliefs and ultimately helps them meet their goals. Basically, I want them to feel comfortable with the information so they can make more informed choices.
I have been an advisor since 2001. In February 2004, I started Golden Hills Financial Group, LLC, a Colorado registered investment advisory firm. This is an independent fee-only advisory firm.
Portfolios we create for clients can be moved without disrupting the portfolio because the securities we buy are not proprietary. For instance, if an advisor represents a firm whose securities are sold only through their advisor network, when a client becomes dissatisfied or heirs want to use a different advisor, the assets must either be sold, creating potentially large cap gains tax liabilities or an advisor within that same network must be utilized. If our clients or their heirs elect to move, their entire portfolio can be transferred to another advisor with no penalty.
We believe that the markets are generally quite efficient. That means we rely on exchange-traded funds, index funds, and low cost mutual funds when building client portfolios. These are low-cost, tax efficient securities that keep more of our clients money working for them.
I am a Licensed International Financial Analyst, hold an M.B.A. and a B.S. in Business Administration, emphasizing finance with a minor in economics. I have taught finance and investments at 2 universities, for the American Association of Individual Investors (AAII) Colorado Chapters, as well as public seminars.
The goal of this blog is to educate. In particular, to educate women who want to become better investment managers or those women who want to learn more about ’how to sell their business’ or ‘how to buy a new business’.
Just trying this out to see if I can “blog” (:-)
The site looks good, and I LOVE the Intelligent Woman story! What a great tribute to your mom, and a great lead in for women interested in managing their finances.
Thanks for your kind comments. I think we can all look at our parents and others who have influenced us to better understand why we think, react, and feel the way we do. It makes us ponder how we may be influencing others?
Warm wishes,
Rita
Hi,
That’s great that you found the information interesting, and of value I hope.
The fee of 1.25% needs to be assessed against what services you need and what is being provided. The first question to ask yourself is, what services do I need? If it’s management of your investments only, then talk to two or three investment managers and compare their services with their fee. For instance, do they provide quarterly performance reports? Who custodies (holds) your money? In my opinion, it’s better to have another firm custody your assets. Then you receive a report from that firm which you can compare to the advisors reports. A nice cross check. 1% to 1.25% is a typical range for firms that use actively managed mutual funds or individual stocks and bonds. In addition to the management fee you are paying the expenses inside the mutual funds and transaction costs. Total feels ratchet up fast and make it more difficult to grow your portfolio. Ask about those other fees, as well. It’s your money so never hesitate to have a firm show you total expenses, e.g. management fees plus mutual fund internal expenses, and what you will be paying for transactions, either for mutual funds or for individual securities.
If the firm is both managing your money and other aspects of your financial life, they may charge an ongoing 1.25% for intermittent financial advice. You may be better off with a lower management fee from a firm that specializes in investments, and paying separate for specific financial advice from a firm that specializes in financial planning. Financial planners aren’t necessarily highly knowledgeable in investments, and visa versa. Check experience and credentials.
For comparison, and a plug for my firm, we charge .5% (1/2 of 1%) annually for a $1 million portfolio. Low cost, tax efficient funds are used to build the investment portfolios. The entire portfolio management fee for a $1million portfolio plus fund expenses may be 1% or less. We custoday our assts with a firm that has low transaction fees.
We charge a minimum fee of $500/qtr. To keep the annual fee less than .7%, we suggest households with less than $285,000 use our hourly services.
Quality of management, which includes portfolio management knowledge and experience, coupled with lower costs are both very important for growing your assets. Too often people are nervous about asking questions, likely concerned they will insult an advisor. If an advisor gets upset, move on. Good communication and forthright information are signs of an advisor who respects the advisor/client relationship.
Thanks for reading the blog.
Best of luck.
Rita Janaky
Thanks for asking! Yes, I provide investment advice to men and women.