Over the years, I have traveled the country bringing my unique mutual fund philosophy and process to thousands of financial consultants. I created this website to provide on-demand access to that philosophy and process as well as hundreds of my research documents that support it. This chapter of the site is dedicated to providing you a step-by-step look at the philosophy and process with references to those documents that support each claim or belief.

Setting the Stage
Did you know that:
           • 62% of all mutual fund dollars are invested in no-load funds
           • 5 of the 10 largest funds are No-Loads?
           • 14 of the 25 largest funds are No-Loads
           • and if not for American Funds, only three of the largest 40 funds are load funds.

Why would so many investors think they can go it alone? Why would they think investing is a Do-It-Yourself Process? I think the answer is quite simple:

1. Do-It-Yourselfers select funds based almost entirely on past performance, and there is no shortage of media help in selecting these funds.
2. They are then taught to put the portfolio in a dresser drawer under the socks and leave it there.
3. Additionally, do-it-yourselfers feel that financial consultants bring very little to the table. At least, not enough to justify the fee.
4. Many investors have given up on the idea of beating the market altogether, as evidenced by the tremendous growth in index funds and exchange-traded funds. And if investors are going to settle for the performance of an index fund, they sure don’t need the assistance of an investment professional.

So, what is a financial consultant to do?