Monthly Archives: February 2010

FINRA Foundation Releases Inaugural Financial Capability Survey

The FINRA Investor Education Foundation recently released survey results that measure the financial capabilities of American adults and reveal in detail how Americans save, borrow and plan for their financial future. The National Survey, one of three surveys that collectively make up the National Financial Capability Study, is the first of its kind in the United States.

Developed in consultation with the U.S. Department of the Treasury and the President’s Advisory Council on Financial Literacy, the Survey found that:
  •  nearly half of survey respondents are facing difficulties in covering monthly expenses and paying bills;
  •  the majority of Americans do not have a “rainy day” fund for unanticipated financial emergencies and are not adequately preparing for their children’s college education and their own retirement; and
  •  while many adults believe they are adept with dealing with day-to-day financial matters, they nevertheless engage in financial behaviors that generate fees and expenses.
For more details, visit the National Financial Capability page on the Foundation Web site.

Advisors’ Roles in Times of Crisis

The 2009 Fidelity Millionaire Outlook survey reveals three critical roles that advisors played during the recent financial crisis. According to their clients, advisors acted as:  Wealth Guardians (role #1). Just over three quarters (76%) of millionaires credit their advisors with limiting their asset losses during the financial crisis. A look at the asset levels of millionaires who work with advisors and those who don’t supports this. While the market downturn led to losses across the board, millionaires who do not work with advisors lost $630,000 on average, compared with $150,000 for their peers who work with advisors Source: Fidelity Millionaire Outlook, February 2009

Save Your Greenbacks-Don’t Fall for Green Energy Scams

Save Your Greenbacks-Don’t Fall for Green Energy Scams

FINRA recently issued an Investor Alert warning investors to be wary of green energy investments that promise large gains from investing in companies purportedly involved in developing or producing alternative, renewable or waste energy products. The alert, Save Your Greenbacks—Don’t Fall for Green Energy Scams, explains how these green energy scams typically work, what forms they usually take and how to spot and avoid them. Read the alert now.
For more FINRA investor alerts go to

Omar Mian becomes a partner

We are pleased to announce that our colleague Omar J. Mian has accepted our invitation to become a shareholder at Compass Capital Corporation.  Omar has been with Compass since 2005 and is a voting member of our Investment Committee. Omar lives in Norwood , MA and helps clients and their families attain financial peace of mind by providing them with high quality personalized financial and investment advice tailored to their individual needs. Omar can be reached at 781-535-6083 x 303 or email at

Millionaires Find Strength in Advisors during Crisis

The latest research in the Fidelity Millionaire OutlookSM Series reveals that most high net worth clients credited their advisors with helping them weather the most recent market downturn. For the full report see:

About the survey.
Fidelity Investments (Fidelity) conducts annual surveys of U.S. households with investable assets of at least $1 million, excluding workplace retirement accounts and any real estate holdings. The research analyzes millionaires’ attitudes and behaviors on a variety of investing topics, including financial concerns, economic outlook, and use of financial advisors.*

*The most recent survey was conducted online in February 2009 by Richard Day Research and received completed responses from 1,012 financial decision makers in U.S. millionaire households. The data are representative of all U.S. millionaire households, with a margin of error of +/- 3%. The survey did not identify Fidelity as the sponsor. Richard Day Research is an independent third-party research firm not affiliated with Fidelity Investments.