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Road to Independence 

Mike Patton is heading down an uncertain road that some of you have already traveled, and that some of you are considering taking. In this blog, Mike will chronicle in real time his new professional life as an independent advisor, with all its triumphs and challenges, extending his first-person report that will appear from time to time in Investment Advisor magazine. Mike Patton is the principal of the newly founded Integrity Wealth Management, in Baton Rouge, Louisiana, where he works with high-net-worth clients as their "Personal CFO."

Recent Posts

Mon, 30 Aug 2010
What’s one major difference between the old way of doing business and the new way? The old way was selling product while the new way is selling advice. Despite the tremendous amount of evidence to the contrary, many advisors still cling to the old way. However, the investing public is desperately seeking advice and is [...]
Wed, 25 Aug 2010
I just finished presenting a financial plan to a new client and I was left once again with a couple of familiar, yet nagging questions pertaining to the existing investment portfolio. Why does the portfolio include so many funds from the same fund family? Why are there no alternative investments included? Over the years, I have found a [...]
Mon, 16 Aug 2010
For the past several weeks I have had major computer issues. My machine would freeze, forcing me to power off manually, and programs would fail to open even after clicking a shortcut multiple times. Apparently, the latter problem is called a “soft lock.” I had finally had enough so I ordered a new Dell Studio [...]
Mon, 09 Aug 2010
I’ve always had a rather altruistic view concerning the role and purpose of financial planning. In my opinion, a financial plan is a tool to determine the most prudent course of action. Just as a physician orders various tests to assist in the diagnosis, I consider the plan as the instrument which directs my recommendations. [...]
Mon, 02 Aug 2010
One thing I’ve noticed about this business over the years is that new clients often come in spurts. There will be times when things are slow and then seasons when you acquire several new clients in short order. For me, things are about to get busy. In the next week, I should gain two new [...]
Mon, 26 Jul 2010
Many advisors, including myself, are engaged in an ongoing effort to make sense of current events. We formulate our own beliefs concerning the economy and the financial markets and attempt to position our client’s money accordingly. Frequently, information from one source contradicts information from another source, leaving us to sort through the rabble. For example, [...]
Mon, 19 Jul 2010
During a recent client review, the performance report indicated that his trailing returns were approximately +22.0% (12 months), -1.20% (three months), and -0.10% (one month). During the same periods, the market returns were +12.0%, -15.0%, and -5.0%, respectively. In short, the client’s portfolio did very well compared to the market. What do you think the [...]





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