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Paul in the News

WORK WITH A PROFESSIONAL



Fee-Only Financial Advice from Utah

 Financial journalists, both local and national, 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:


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.  Click here to read this article.

Wall Street Journal, April 18, 2014 - In summarizing his current views on municipal bond closed-end 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. Click here to read this article.

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). Click here to read this article.

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. Click here to read this article.

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 CFA also outlined his approach to managing portfolios for retired clients. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Please click here to read this article.

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. Click here to read this article.

Dow Jones Newswires, July 27, 2011 - In 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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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." Click here to read this article.

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." Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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 TIPS in an inflationary environment. Click here to read this article.

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." Click here to read this article.

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.” Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

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.

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.

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..." Click here to read this article.

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. Click here to read this article.

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. Click hereto read this article.

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. Click here to read this article.

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. Click here to read this article.

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." Click here to read this article.

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. Click here to read this article.

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. Click here to read this article.

InvestmentNews, February 14, 2005 – Paul Winter was quoted in an article on a new form of variable annuity that offers exchange-traded funds (ETFs) 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. Click here to read this article.

Deseret Morning News, January 23, 2005 – Paul Winter, MBA, President of Five Seasons Financial Planning in Salt Lake City, Utah, provided potential solutions for a reader concerned with re-financing his credit card debt. Paul, a Fee-Only planner, suggested several alternative sources of funds to repay the high-interest debt: borrowing against retirement plan assets or home equity, and liquidating taxable investments. “People need to do their homework before trying such solutions,” he stressed. Click here to read this article.

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. Click here to read this article.

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 re-balance portfolios. In particular, clients should ensure that their portfolios haven’t become overweighted 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 2005 to offset them by harvesting tax losses." Click here to read this article.