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Paul in the News

WORK WITH A PROFESSIONAL



Fee-Only Financial Advice from Salt Lake City, Utah

Financial journalists, both national and here in Utah, frequently enlist NAPFA-Registered Financial Advisors to contribute to their stories in the knowledge that Fee-Only financial planners are a reliable source of objective, professional financial advice for their readers. We hope you find the following articles educational and thought-provoking:


Morningstar, December 2, 2023 - A retiree's decision between leaving a retirement portfolio invested or instead using some of that nest egg to repay a mortgage has both financial and emotional aspects.  "If you're unable to sleep at night because you're thinking of this mortgage hanging over your head, that's not good either", said certified financial planner Paul Winter in response to a reader's question in this Morningstar article and in this MSN Money article.

CNBC Pro, November 9, 2023 - In an article entitled Closed-end Funds Can Generate Income – and They’re Cheap, Paul Winter, CFP® and president of Five Seasons Financial Planning, discussed using closed-end funds to generate income from stock buy-write strategies. Click here to see the complete article.

Financial Planning magazine Investment Strategies section, November 8, 2023 - In this article on bond investing after a two-year decline in prices, Paul Winter, the founder of Five Seasons Financial Planning in Salt Lake City, Utah, agreed that bonds belong in any balanced portfolio, but cautioned against any notion that fixed income is capable of delivering "big gains" from these levels.  "To me, this [rise in rates in the last 2 years] is more of a return to normalcy [than a buying opportunity not to be missed]," Winter said.

Bankrate for Financial Advisors, October 25, 2023 - In the article entitled How a Financial Advisor Can Help You Fight Inflation, Fee-Only financial planner Paul Winter discussed stress-testing clients' retirement projections to incorporate assumptions about higher future inflation and lower future portfolio returns. Click here to see the complete article. 

MarketWatch, August 21, 2023 - “The higher the current stock market valuation is, the lower we should expect future stock market returns to be", said Salt Lake City certified financial planner Paul Winter in this article on 10 Other Tools to Help You Understand Stock Market Performance.  Paul added, "... having this additional insight into future stock market returns is useful not just for portfolio management decisions, but also for a variety of financial planning purposes, and most notably in performing retirement projections.”

CNBC Pro, June 26, 2023 - Paul discussed the pros and cons of investing in investment-grade floating-rate note ETF's in an article called This Little-known Income Play Offers Portfolios Price Stability and Yield.  Click here to see the complete article.

CNBC Pro, June 21, 2023 - In an article entitled Municipal Bonds can Offer Your Portfolio Tax-Free Income and Stability as Recession Fears Loom, Five Seasons Financial Planning portfolio manager Paul Winter discussed using closed-end funds to gain exposure to the municipal bond market.  Click here to see the complete article. 

Wall Street Journal, January 12, 2023 - Closed-end mutual funds or CEF's can be attractive additions to a diversified portfolio in the right circumstances, and especially for retirees in need of investment income.  However, the unique attributes of CEF's - in particular their frequent use of leverage and the divergence of their prices from their net asset values - introduce risk, as well as offer opportunity.  Salt Lake City financial adviser Paul Winter was quoted in "For Closed-End Fund Investors, Paper Losses Turn Real", a WSJ article on the performance of CEF's in 2022's bear market.

Wall Street Journal, December 2, 2022 - Investors have an opportunity to reduce their tax bills by harvesting some of the unrealized losses in their portfolios, but must be careful: (a) not to sacrifice overall portfolio performance for the sake of tax savings, and (b) not to violate the IRS's "wash sale" rules.  Paul Winter, CFP® and president of Five Seasons Financial Planning, was quoted in the WSJ article, "Tax-Loss Harvesting Comes With Hidden Risks".

CNBC.com Personal Finance, September 21, 2022 - Today the Federal Reserve raised the interest rates that it manages by 3/4 of a percentage point for the third meeting in a row.  The Fed's tightening of monetary policy this year has resulted in an inverted yield curve and the highest bond yields in years.  “Higher bond yields are bad news for the stock market and its investors,” said certified financial planner Paul Winter, owner of Five Seasons Financial Planning in Salt Lake City, as he went on to explain why in an article called "What the Inverted Yield Curve Means for Your Portfolio".

Financial Planning magazine, September 4, 2022 - Small business owners, and especially those with no or just a few employees, have a variety of types of retirement plans from which to choose.  This Financial Planning magazine article, featuring input from Salt Lake City CFP® professional Paul Winter and entitled "Business owners, including advisors, have options when it comes to retirement plans", delves into this decision, and explores which types of self-employed retirement plans various independent financial advisors have chosen for their own businesses and why.

ETF Database Fixed Income Channel, September 30, 2022 - Paul Winter, a CERTIFIED FINANCIAL PLANNER™ practitioner and owner of Utah's Five Seasons Financial Planning, was misquoted in an article entitled Counter Effects of Rate Hikes By Going Long in Duration.

MarketWatch, June 10, 2022 - “When it comes to managing my own money, I eat my own cooking", said  .  "I take a very similar investment approach in my own portfolio to combat inflation as I take in client portfolios", he continued in an article on What 5 Certified Financial Planners are Doing with Their Own Money Amid High Inflation.

Financial Planning magazine, May 16, 2022 - Since the Pension Protection Act of 2006, target-date mutual funds or TDF's have become the default investment options in most retirement plans, and as such, widely held by 401k participants.  But while target-date funds are an improvement over the 401k investments that used to serve as default options, TDF's are far from ideal for most investors.  In this Financial Planning magazine article, the president of Utah-based Five Seasons Financial Planning, Paul Winter, was quoted as saying that most target-date funds “aren't customized to the risk tolerance of each client/investor.”

MarketWatch's Help Me Retire column, April 1, 2022 - A retiree's decision between leaving a retirement portfolio invested or instead using some of that nest egg to repay a mortgage has both financial and emotional aspects.  "While from a financial perspective, it makes sense to keep your mortgage and continue to pay it as is, you do need to be comfortable [being in debt]", said Paul Winter, founder of Five Seasons Financial Planning, in response to a reader's question in the article I'm Retired With $600,000 Saved for Retirement — Should I Pay Off My Mortgage Now?.  Click here to see the complete article.

CNBC.com Personal Finance, March 16, 2022 - This week the Federal Reserve raised interest rates for the first time since 2018.  Paul Winter, CFP®, was quoted in Kate Dore's article called How the Fed’s Rate Increase May Affect Your Bond Portfolio.

MarketWatch, February 3, 2022 - Most retirement plans allow employees to borrow against their accounts, but 401k loans remain controversial among financial advisors.  Utah-based financial planner Paul Winter argued that 401k loans might be a viable alternative to a taxable distribution, and especially in a low-return financial market environment, for this couple close to retirement and looking to buy a house.  Click here to see the complete article.

ETF Database Retirement Income Channel, February 2, 2022 - Paul Winter, a CERTIFIED FINANCIAL PLANNER™ practitioner and owner of Five Seasons Financial Planning in Salt Lake City, argued that investors worried about rate risk can consider shorter-duration bonds or bond funds in the article Retirees Should Consider Readjusting Their Portfolios.

ETF Trends, January 21, 2022 - “Generally, if you’re trying to reduce interest rate risk, you’ll want to consider bonds or bond funds with a shorter duration", said Paul Winter, owner of Utah-based Five Seasons Financial Planning.  “Also, bonds with higher coupon rates and lower credit quality tend to be less sensitive to higher interest rates, other factors being equal,” continued Winter in the article entitled Here’s a Pair of Bond ETFs to Ward Off Inflation.

CNBC.com, January 19, 2022 - Many retirees rely on income from bonds to help fund their living expenses in retirement.  However, when interest rates are rising, either because inflationary expectations are picking up and/or because the Federal Reserve is tightening, prices of most individual bonds and bond mutual funds will fall.  Salt Lake City CFP® professional Paul Winter provided advice on how retirees can reduce this portfolio risk in the article Here’s How Rising Interest Rates May Affect Your Bond Portfolio in Retirement.

Wall Street Journal, December 23, 2021 - Exchange-traded funds are becoming more popular with municipal bond investors.  While low fund management expenses are the primary attraction of ETFs, Utah-based investment adviser Paul Winter of Five Seasons Financial Planning also notes their immediate liquidity as a precondition to being able to take advantage of opportunities in other asset classes in the article ETFs Claim More of Muni Market.  

Barron's Advisor Planning Strategies, November 23, 2021 - “I’m trying to impress on clients that although contribution limits are fairly low, HSA’s can be an unusually tax-efficient and surprisingly substantial form of retirement savings,” says Paul Winter, a certified financial planner with Five Seasons Financial Planning in Salt Lake City.  His quote appeared in a Barron's article written by Cheryl Winokur Munk entitled HSAs Are Unappreciated and Underutilized. Advisors Can Change That.

ThinkAdvisor, November 10, 2021 - With the Consumer Price Index having risen 6.2% during the last year, inflation is the highest that investors have experienced in decades.  In this article, Salt Lake City's Paul N. Winter, CFP® joins Financial Planning Association members from around the country to provide recommendations on How to Protect Portfolios When Inflation Hits: Advisors' Advice.

InvestmentNews, June 21, 2021 - Municipal bond mutual funds have been pulling in a disproportionate share of investment flows this year with the specter higher income tax rates looming, and with city and state finances improving post-pandemic.  Founder of Five Seasons Financial Planning, Paul Winter, weighed in on the current attraction of muni bonds in this article entitled Investors Flock to Municipal Bonds for Yield and Shelter.

Money magazine, May 17, 2021 - Inflation is an unwelcome development for retirees living on a fixed income and for bond investors.  However, many borrowers can benefit from an increase in inflation.  Salt Lake City financial planner Paul N. Winter was quoted in this article on Why Debt-Ridden Millennials Should Be Cheering for Inflation.

Financial Planning magazine, May 4, 2021 - "There are certainly some valid [financial planning] credentials and designations requiring specialized knowledge and a commitment of time and effort beyond the more mainstream ones (CFP®, CFA, CPA-PFS), but many if not most others can be attained with the same effort as feeling around for a prize in a box of Crackerjacks, often an open-book exam, a small fee, and no continuing education", said Paul Winter.  His quote appeared in an excellent article on financial advisor certifications and licensing entitled With 212 Possible Designations, What Exactly is a Financial Planner?

Barron's Retirement, March 6, 2021 - Recent retirees are particularly susceptible to bear markets, but there are a number of strategies available to counter this so-called sequence-of-returns risk.  Salt Lake City financial advisor Paul Winter weighs in on a couple of them in this article entitled How a Cash Stash Can Help Retirees Keep Peace of Mind, if Not Portfolio

Barron's ETF's / Funds Quarterly, January 3, 2020 - One of the by-products of ETF issuers becoming more creative is that exchange-traded fund closures are becoming more commonplace.  Paul Winter, president of Salt Lake City's Five Seasons Financial Planning, offered ways for investors to minimize taxes when their ETF's close, cease trading, and are liquidated.  To see the complete article, please click on Your ETF Just Died. Here’s What You Should Do.

Kiplinger's Retirement, October 3, 2019 - Salt Lake City-based CFP® practitioner, Paul Winter, offered suggestions on minimizing the tax bills associated with required minimum distributions (RMD's) from IRAs for retirees who don't need the income.  Among other strategies, these RMD's can be used to make tax-deductible 529 plan contributions for grandkids or to pay for Roth conversions.  To see the complete article, please click on How to Reduce Tax Bills from RMD's

Financial Planning magazine, July 25, 2019 - In an article about how financial advisors are using a new generation of so-called "smart beta" ETF's to add value to clients' asset allocations, Five Seasons Financial Planning president Paul Winter revealed that he's been “interested in factor investing since the ‘90s.”  To see the complete article, please click on Factor Investing in Financial Planning.

Barron's Retirement, July 20, 2019 - SLC, UT financial planner Paul Winter commented on the questionable conclusions reached by various reports on the retirement readiness of American savers in aggregate.  After all, what really matters is how financially ready you are for retirement.  To see the complete article on the current state of average and median 401(k) and IRA account balances, please click on "Americans are Saving Too Little for Retirement".  

CNBC.com, March 13, 2018 - "I don't think it's the client's responsibility to protect themselves from irrationality," said Paul Winter, CFP® and president of Five Seasons Financial Planning.  "In my view, it's part of our job as financial advisors to protect clients from [themselves], a big part in times like these."  In Deborah Nason's article, Paul went on to recommend that investors ... "work with an advisor whose experience, business model, training and education allow clients to believe absolutely in their advisors' objectivity and professionalism in managing their portfolios ...".  To see the complete article on handling market swings like a pro, please click on "How Financial Advisors Help Investors Handle Market Volatility".

Wall Street Journal, January 3, 2018 - In an article entitled "Financial Resolutions for 2018", Salt Lake City financial adviser Paul Winter warned investors not to become complacent after 2017's stock market performance.  "Don't assume past is prologue, stay disciplined, and stick to your long-term financial plan with respect to the asset allocation and the risk profile of your portfolio", he said.  To see the complete article with other financial tips from experts, please click on Financial Resolutions for 2018.

Wall Street Journal, December 5, 2016 - Fee-Only financial advisor Paul Winter served as a guest expert, and answered reader questions about saving for college, including whether starting a 529 plan is worth it.  To see the complete article on college funding strategies, please click on Experts Answer Questions on Saving for College.

Financial Planning magazine, November 25, 2014 - Salt Lake City CFP® practitioner Paul Winter commented on the tax benefits of using donor-advised funds for charitable giving.  "It's worked out very well--he [the client] got the immediate tax break when he was in a higher tax bracket, avoided the related capital gains taxes, and the account’s bigger now than it was at inception," Paul said.  To see the complete article on the advantages of donor-advised funds, please click on DAFs Top Choice for Charitable Giving.

ThinkAdvisor.com, September 26, 2014 - Salt Lake City financial planner Paul Winter was quoted in an article on considerations that retiring baby boomers should take into account when they choose among their pension payout options.  To see the complete article, please click on Pension Payout Options for Retiring Boomers.

Wall Street Journal, April 18, 2014 - In summarizing his current views on municipal bond closed-end mutual funds, portfolio manager Paul Winter stated, "I'm still closer to being a buyer on weakness than a seller on strength."  Winter, president of Five Seasons Financial Planning in Salt Lake City, also listed several of his favorite fund holdings.  To see the complete article discussing municipal bond closed-end mutual funds, please click on Municipal Bond Closed-End Mutual Funds.

Wall Street Journal Wealth Management, February 10, 2014 - In an article entitled "Ten Ways You're Probably Leaving Money on the Table", financial planner Paul Winter enumerated the tax savings associated with contributions to Health Savings Accounts (HSA's).  To see the complete article with other money-saving financial tips from experts, please click on Ten Ways You're Probably Leaving Money on the Table.

Wall Street Journal, December 13, 2013 - In Jason Zweig's Intelligent Investor column, financial planner Paul Winter discussed how high-net-worth investors often fall prey to overconfidence in managing their own portfolios.  He went on to recommend that successful business executives limit their exposure to employer stock.  To see the complete article discussing other investing mistakes that wealthy individuals tend to make, please click on Overconfidence Hinders Investing by Wealthy Individuals.

Bottom Line magazine, July 1, 2013 - Market veteran Paul Winter was interviewed about traps that bond investors face in the current low-rate environment, and he offered advice on how these risks could be avoided.  The fee-only Chartered Financial Analyst® charterholder also outlined his approach to managing portfolios for retired clients.  To see the complete article, please click on Investing in Bonds in a Low-Rate Environment and Retirement Funding Using Buckets.

Wall Street Journal Wealth Management, March 26, 2013 - "I tend to be contrarian,... adding exposure on weakness", explained Paul Winter, president of Five Seasons Financial Planning.  The comment was made in an article on the recent re-emergence of Japanese stocks and how Paul was managing exposure to that market.  To see the complete article outlining the case for investing in Japan, please click on Investing in Japan Using ETF's and Closed-End Funds.

Wall Street Journal, February 1, 2013 - Fee-Only financial adviser and ex-bond trader Paul Winter argued that TIPS should be regarded as being too expensive by investors seeking protection from inflation.  He suggested to journalist Brett Arends that exposure to commodities makes more sense for this purpose in the current market environment.  To see the complete article, please click on Alternatives to TIPS for Inflation Protection.

Wall Street Journal MarketWatch, January 29, 2013 - In an article entitled "Rethinking the 'Rebalancing' Rule Book", CFA® charterholder Paul Winter offered his opinion that selling stocks to buy bonds in order to rebalance portfolios for clients with long-term investment horizons might not make sense in the current market environment.  To see the complete article, please click on Portfolio Rebalancing Considerations.

Bankrate.com, February 5, 2013 - "We have, by law, a duty to put our clients' interests above and beyond our own," says Paul Winter, president of Five Seasons Financial Planning, a registered investment advisor, in a comprehensive article on where consumers should go to find investment advice.  To see the complete article, which provides a helpful overview of financial adviser business models, please click on How to Find an Investment Advisor or Financial Planner.

Journal of Financial Planning, February 2012 - In a sidebar to an article on housing-related wealth management strategies, Paul Winter, CFP®, founder of Five Seasons Financial Planning in Salt Lake City, listed factors for homeowners to consider in the decision between prepaying a mortgage and investing. To see the complete article, please click on Home Equity and Mortgage Debt Management.

Dow Jones Newswires, July 27, 2011 - In personal finance journalist Ian Salisbury's Wealth Adviser column on how advisers were responding to the impending U.S. debt crisis, Paul Winter's recent letter to clients was cited.  "We investors always face uncertainty, and are rewarded over time for enduring it," it said.  To see the complete article, please click on Wealth Adviser: How Advisers are Facing the Debt Crisis.

Dalles Chronicle Life Planning Guide, May 2011 - "I look at my role as being the quarterback of the financial team, bringing all the other financially related people who a client interacts with together," says Paul Winter, in an article on selecting a financial team to work for you.  To see the complete article, please click on Personal Finance Professionals.

Wall Street Journal, May 2, 2011 - In an article by journalist Michael Pollock on ways to protect investment portfolios against the erosive effects of inflation, Paul Winter, CFA, recommended investors combine TIPS (Treasury Inflation-Protected Securities) with equities.  In particular, Winter, president of Five Seasons Financial Planning in SLC, UT, advised readers concerned about a pick-up in inflation to consider blue-chip stocks with pricing power.  To see the complete article discussing a variety of other inflation hedges, such as commodities and real estate, please click on Investment Strategy: The Best Inflation Hedge?

SmartMoney magazine, September 9, 2010 - Paul Winter, CFP®, founder of Five Seasons Financial Planning in Salt Lake City, was referenced in an article on deciding which forms of debt consumers should pay off first.  Paul, a Fee-Only financial planner, suggested readers consider the form of debt, and tax treatment of the interest payments, in making this decision.  To see the complete article, please click on Choosing the Debts to Pay Off Now (And Later).

Financial Advisor magazine, February 2, 2010 - In an article entitled Advisors Wary of Wall Street's Leaders,” Dow Jones columnist Ian Salisbury discussed the public's distrust of Wall St. executives with Paul Winter, founder of Five Seasons Financial Planning in Utah, and a former institutional trader in NYC.  To see the complete article, please click on Advisors Wary of Wall Street's Leaders.

Deseret Morning News, March 24, 2009 - Paul Winter, a certified financial planner™ practitioner was interviewed by journalist Greg Kratz on the upcoming arrival in Salt Lake City of NAPFA's (the National Association of Personal Financial Advisors) Your Money Bus Tour.  Winter, the site coordinator for the Utah stop, discussed the importance of getting financial consumers back on track in these uncertain times.  To see the complete article, please click on Your Money - Financial Education and Debt Management.

MSNBC.com, March 2, 2009 - "If your retirement is five, 10 or 20 years from now, what has happened to your portfolio over the past 12 to 18 months is next to irrelevant," stressed Paul Winter, a Fee-Only financial planner in Salt Lake City, Utah, "All that matters is how your portfolio will perform from today."  To see the complete article, please click on Five Investing Mistakes to Avoid in a Bear Market.

Business Week magazine, December 18, 2008 - In an article by journalist Ben Steverman on financial resolutions for the New Year, Paul Winter, CFA, urged investors not to give up on stocks.  Winter, founder of Five Seasons Financial Planning in SLC, UT, reminded readers that "Historically some of the best periods for stock market returns have been during dismal economic times."  To see the complete article, please click on Personal Finance: New Year's Resolutions from Financial Pros.

TheStreet.com, May 12, 2008 - Paul Winter, a chartered financial analyst, was quoted in an article by Simon Constable on the recently introduced 'managed payout' mutual funds.  Winter, founder of Five Seasons Financial Planning in Salt Lake City, cautioned investors to read the fine print, and stressed that these new funds shouldn't be considered a "one-size-fits-all" solution.  To see the complete article, please click on Managed Payout Mutual Funds.

Salt Lake City Tribune, May 10, 2008 - In an article on the best use of 'economic stimulus' tax rebates, Paul Winter, President of Five Seasons Financial Planning in SLC, UT, suggested readers either invest or pay down debt, depending on the type of debt outstanding and risk tolerance of the individual.  To see the complete article, please click on Using Tax Rebates for Debt Repayment.

Salt Lake City Tribune, February 9, 2008 - "Consider cutting your losses, and move on." advised Paul Winter, CFP®, if you find the value of your real estate declining to the point it's distracting you at work and affecting your quality of life.  Winter, a Fee-Only financial planner in Salt Lake City, Utah, also provided pointers to retirees struggling with losses in their portfolios in an article entitled When the Nest Egg Cracks" by Leslie Mitchell.  To see the complete article, please click on The Wealth Effect: When the Nest Egg Cracks.

Entrepreneur magazine, February, 2008 - Paul Winter, CFA, President of Five Seasons Financial Planning LLC, and his client were featured in an article about the benefits of investing in Treasury Inflation-Protected Securities (TIPS) in an inflationary environment.  To see the complete article, please click on Entrepreneurs Protecting Investments from Inflation.

Kiplinger's magazine, July 5, 2007 - Paul Winter, CFP®, President of Five Seasons Financial Planning in SLC, provided advice to a reader of the "Ask Kim" column wondering about using zero-coupon bonds in his retirement portfolio.  Paul, a Fee-Only planner, concluded with this warning: "Amounts due at maturity may not have the purchasing power you thought they would."  To see the complete article, please click on Investing in Zero-Coupon Bonds for Retirement.

InvestmentNews, March 5, 2007 – Paul Winter, a Fee-Only financial planner, was quoted in an article on a new life insurance product aimed at being an investment, a tax tool, and a wealth transfer vehicle all in one policy.  Commenting on so-called 'bundled' insurance products, Winter stated “Usually, clients can replicate them much more cheaply, and with more customization to their individual circumstances and objectives, using a combination of cost-effective, tax-efficient individual components.”  To see the complete article, please click on Life Insurance as Tax-Efficient Investments.

Business Week magazine , January 18, 2007 - In an article entitled Going Global With ETFs,” journalist Marc Hogan investigated different ways in which investors could get international equity exposure using exchange-traded funds.  Paul N. Winter, President of Five Seasons Financial Planning in SLC, UT, suggested readers consider the MSCI EAFE Index iShare (EFA) for its low management expenses and tax efficiency.  To see the complete article, please click on Investing Globally with International ETF's.

TheStreet.com, June 20, 2006 - Paul Winter was quoted in an article on the recent underperformance of TIPS [Treasury Inflation-Protected Securities]. Winter, founder of Five Seasons Financial Planning in Salt Lake City, stressed the importance of taking a long-term perspective when investing and offered a variety of cost-efficient ways to get exposure to this asset class.  To see the complete article, please click on The TIPS ETF for Inflation Protection.

Newsweek magazine, April 18, 2006 - In an article entitled When Your Paycheck Stops, journalist Jane Bryant Quinn explored steps her readers could take to prepare themselves for retirement.  Paul N. Winter, President of Five Seasons Financial Planning in Salt Lake City, contributed a variety of material for this article, including the process he follows to generate retirement projections for his clients.  To see the complete article, please click on Financial Planning for Retirement.

Kiplinger's Mutual Funds, Spring 2006 - In an article entitled “Thinking Outside the Box,” journalist Manuel Schiffres explored the controversy over mutual fund "style drift".  Paul N. Winter, a financial planner in Salt Lake City, Utah, opined that it's more important for a mutual fund manager to stick to his investment discipline even if it means having the fund migrate from one Morningstar style box to another.  "This is the true definition of style purity, and it identifies the great managers over the long term...," added Winter.  To see the complete article, please click on Mutual Fund Investment Styles.

Deseret Morning News, March 5, 2006 - Paul Winter, MBA, was quoted in an article on the different ways in which financial advisors charge for their services.  Winter, President of Five Seasons Financial Planning in Salt Lake City, Utah stressed that the idea behind fee-only financial planning is to minimize conflicts of interest and ensure objective advice.  Winter added, "...the vast majority of fee-only advisers are registered investment advisers regulated by the state or (Securities and Exchange Commission), which is important because they are, as a result, legally obligated to place their clients' interests before their own..."  To see the complete article, please click on Fee-Only vs. Commission-Based Advisers in SLC.

Deseret Morning News, February 6, 2006 - "As with legal or medical advice, consumers should consider the education, certification, experience, potential conflicts of interest and "bedside manner" of a prospective adviser", said financial planner Paul Winter.  To see the complete article, please click on Do Homework Before Picking Financial Adviser.

Caregiver's Home Companion, January 31, 2006 - Paul Winter was quoted in an article on the pros and cons of using reverse mortgages to fund retirement expenses.  Winter, founder of Five Seasons Financial Planning in Salt Lake City, expressed the opinion that under the right circumstances this strategy could be very useful for house-rich, cash-poor seniors.  To see the complete article, please click on Using Reverse Mortgages to Fund Retirement.

Deseret Morning News, October 30, 2005 - Paul Winter, MBA, President of Five Seasons Financial Planning in Salt Lake City, offered potential solutions for couples having difficulties communicating about money matters.  Paul, a Fee-Only planner, suggested several ways for a spouse to break the ice in discussions about family finances.  He stressed that both husband and wife need to be aware of their financial circumstances in case of an unexpected death, disability or divorce.  To see the complete article, please click on Financial Planning for Utah Couples.

MSN Money, August 2, 2005 - Paul Winter, a Fee-Only financial planner, was quoted in an article warning investors about the potential pitfalls of relying on stockbrokers for mutual fund advice.  In 5 Questions to Ask Before Hiring a Broker,” journalist Tim Middleton outlined a variety of circumstances that might lead conflicts of interest to taint the advice brokers give their clients.  Winter suggested that investors check the background of any broker or securities firm with the NASD or state regulators before doing business with them.  To see the complete article, please click on Why Not to Hire a Broker for Mutual Fund Advice.

Financial Planning magazine, July 2005 - In an article by Susan Weiner entitled "Foreign Indebtedness", Paul Winter outlined some of the benefits of adding foreign bonds to client portfolios.  "As a proponent of low-correlation asset classes, I put at least some allocation to international or emerging markets bond funds in the vast majority of client portfolios", Winter said.  To see the complete article, please click on International Bonds in a Diversified Portfolio.

Financial Advisor magazine, March 2005 - In an article by Karen DeMasters entitled "A Passion for Values", Paul Winter outlined some of the difficulties encountered in constructing portfolios for clients with socially responsible preferences.  "Sometimes it is a lack of education on the client's part about the availability of funds that keeps people from asking" [about socially responsible investing], Winter said.  In other cases, the lack of socially responsible investment options in various asset classes makes the process more involved, he added.  As an example, Winter continued, "one of the weaknesses currently of SRI is the lack of international funds to invest in."  To see the complete article, please click on Socially Responsible Investment Advisors in Utah.

Financial Planning magazine, March 2005 - Paul Winter, founder of Five Seasons Financial Planning, contributed to an article entitled "Not Dead Yet" that described the current state of fixed-income markets and how advisors are positioning client portfolios in this environment.  Winter remarked that, in spite of repeated tightenings by the Fed and all the hoopla about a rising interest rate environment, longer term rates have held steady or moved lower in the past two years.  In the interview, he went on to say that he was recommending allocations to floating rate bond funds, Treasury Inflation-Protected Securities (TIPS), and international bonds for his clients.  To see the complete article, please click on Fixed-Income Investing When Interest Rates are Rising.

MSN Money, February 15, 2005 - In an article by Tim Middleton entitled "7 Ways to Boost Your 401(k) Returns", Paul Winter warned plan participants not to overload their accounts with employer stock.  "I would limit the allocation to a fairly small percentage of your total," stated Winter, who went on to note that most advisers recommend employer stock be limited to less than 10% of retirement assets.  To see the complete article, please click on How to Manage Your Retirement Plan Account.

InvestmentNews, February 14, 2005 – Paul Winter was quoted in an article on a new form of variable annuity that offers exchange-traded funds (ETF's) as investment options.  Winter, President of Five Seasons Financial Planning in Salt Lake City, Utah opined that this new product feature should benefit clients by lowering ongoing management fees within the annuity structure.  To see the complete article, please click on Variable Annuities with ETF's as Investment Options.

Standard & Poor’s AdvisorInsight.com Website, January 21, 2005 - If a portfolio of individual municipal bonds has to be liquidated before maturity, "transaction costs in the form of bid/ask spreads can be punishing," said Paul Winter, President of Five Seasons Financial Planning in Salt Lake City, Utah. The article, entitled Tax Breaks Make Muni Bonds Look Good, compares the benefits of investing in muni bond funds vis-à-vis individual tax-free bonds.  To see the complete article, please click on Muni Bond Funds vs. Municipal Bonds for Tax-Efficient Investing.

InvestmentNews, January 17, 2005 – Paul Winter, MBA, was quoted in an article on recommendations that financial advisers are giving clients to start the new year on the right track.  Winter, President of Five Seasons Financial Planning in Salt Lake City, Utah stressed that now is an opportune time of the year to rebalance portfolios.  In particular, clients should ensure that their portfolios haven’t become overweight in historically volatile asset classes, such as small- and micro-cap equities, real estate investment trusts and emerging-markets bonds, that have outperformed in recent years.  Winter adds, "To the extent that asset re-allocations create taxable capital gains, by acting early, clients have the rest of [the year] to offset them by harvesting tax losses."  To see the complete article, please click on Portfolio Rebalancing to Refresh Financial Plans.