Norm Boone

Norm Boone, CFP®, is the founder and president of Mosaic. Norm is an advisor and a nationally recognized financial planner who likes to bring a coaching approach to working with clients.
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Recent Posts

Dealing with Market Risk

Norm Boone / Aug 29, 2018 / Investments

It’s fun when the investment markets go up. Your nest egg is growing and so is your net worth.

Unfortunately, markets go in cycles. They don’t always go up. In fact, the US stock market (as represented by the Standard & Poor’s 500 Index, which approximates the 500 largest US companies) falls roughly once every four years. Sometimes that decline lasts for almost three years, as it did between 2000-2003. Or, it may be more intense, but only last for a year or two (2007-2009). Sometimes it’s just a week or two, if just to remind you that markets go down.

As an example, look at annual returns of the S&P 500 Index by year since 1980. Over those 37 years, eight have had negative full-year results, but every year has experienced a drop from peak to trough, many of which were pretty scary.

Even the good years have periods when negativity reigns supreme.

What is an investor to do? It seems to me there are three choices.

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Estate Planning: Communication and Storage Tips

Norm Boone / Jul 31, 2018 / Estate Planning

I’ll bet many people reading this article haven’t finished their estate plan.

According to CNBC’s 2015 survey, 38% of those polled with investable assets of $1 million or more have not established an estate plan. Lots of people take the responsible step and get started on making sure things are in place in the event of their death or incapacitating illness.

Unfortunately, far too few of us actually finish the process. So many people put it off, postpone it indefinitely, or refuse to acknowledge its usefulness. Some individuals will take the time to meet with an estate planning attorney and draft their documents, but not sign them. Others will hastily change the subject to a less existential topic. A famous example of avoidance comes from legendary pop musician Prince, who died suddenly with no will in place despite his massive fortune.

But if you have loved ones and assets, and care about where those assets end up, estate planning is a must. So let’s make sure you’re not part of the aforementioned 38%.

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All about Asset Allocation

Norm Boone / May 17, 2018 / Investments

If your mother warned you against putting all your eggs in one basket, she grasped the basic concept of asset allocation in financial planning.

A well-balanced mix of asset types can help insulate your portfolio against severe market fluctuations that might disproportionately affect any one type of asset.

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What's the risk of living underinsured?

Norm Boone / May 15, 2018 / Insurance

If you’re underinsured, you’re taking an unnecessary risk that could jeopardize your long-term financial well-being and keep you and your family from achieving your financial goals.

If you’re living underinsured, you could be placing your financial health at risk, no matter how diligent you are about other aspects of wealth management. Insurance is a vital component of holistic financial planning.

How so?

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5 Credentials to Know When Choosing a Financial Planner

Norm Boone / Apr 24, 2018 / Financial Planning

Finding financial advice is as easy as asking the guy in the cubicle beside yours what he thinks the next hot stock will be. Unfortunately, your cubicle mate might not be the most reliable source for financial guidance—and frankly, a lot of “professional” advice can be just as dubious.

It can be difficult to know where to turn for trustworthy financial planning advice, especially since there is no single licensing requirement in order for someone to call themselves a financial advisor.

Lets look at 5 top terms to know when searching for a financial planner.

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7 Resources for Researching Financial Planning Firms

Norm Boone / Apr 3, 2018 / Financial Planning

Choosing a financial planner is one of the most important financial decisions you will make. Many factors should inform your choice, including how much you have to invest, your financial goals, the type of planner you are most comfortable with, and the history of the financial planning firms you’re considering.

When you’re ready to research a financial planning firm’s history, here are 7 resources that can help.

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What is holistic financial planning?

Norm Boone / Feb 16, 2018 / Financial Planning

When you’re trying to lose weight, you quickly learn that no single health change is going to get the job done.

If you focus on nutrition but forgo exercise, you won’t reach your goal. (You might reach it, but you are not likely to maintain it or improve upon it.)

Likewise, you can exercise aggressively, but if you don’t get enough sleep or fail to drink enough water, your weight loss efforts will be thwarted.

All aspects of your physical health have to get attention, working together holistically, to help you achieve your ultimate goal.

At Mosaic, we believe financial planning works similarly.

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One-Day Point Drop: Reaction Commentary

Norm Boone / Feb 6, 2018 / Market Commentary

The market had the largest one-day point drop ever on Monday, February 05, 2018.


The markets are now down. Oh, wait, the markets have recovered. Are they recovered? Should you be worried?

We don’t think so.

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2 payroll deductions to make right now

Norm Boone / Jan 3, 2018 / Employee and Government Benefits

With the new year come changes. For those of us in the workforce: here are 2 quick financial tasks to see to now.

Taking care of these small tasks now counts as a big win - theres a few feathers for your cap. 

 

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How will the tax cuts impact your finances? Steps to consider now

Norm Boone / Dec 28, 2017 / Tax Planning

Well, they’ve finally done it.

The Republicans passed a major bill, in this case the 2017 Tax Cuts and Jobs Act (TCJA), without a single Democratic vote. Before explaining the key parts you should be aware of, let me just say that

a) I think there are more good parts than bad parts to this bill, and

b) it is a true shame any time the only way our democratic process works is when one party shoves a bill down the other party’s throat without any apparent attempt to find ways to work together.

So, what steps should you take now that the TCJA has been passed? What are your financial considerations, tax cuts and all? Let’s look at what the new tax legislation will change. 

Ive included some the key things you will want to consider doing before year end.

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How to use the ADV to evaluate a financial planning firm

Norm Boone / Dec 26, 2017 / Financial Planning

Looking for a financial planner? I’ve got the ultimate pro tip to help you evaluate a financial planning firm.

Before you entrust your money to an investment advisor, you should learn everything you can about the firm or individual and how they do business. Fortunately, many resources can help you evaluate a financial advisor, including the SEC-required document Uniform Application for Investment Adviser Registration and Report by Exempt Reporting Advisers—the ADV for short. 

Here’s how to leverage this incredibly useful information.

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Data Breach Protection: Credit Freezing, Credit Locking, and Other Tips to Monitor Your Credit

Norm Boone / Sep 19, 2017 / Investments / Financial Planning
NEXT STEPS AFTER THE EQUIFAX BREACH

The widely-reported Equifax data breach affected 143 million United States consumers. The breach exposed names, Social Security numbers, addresses, birth dates, and driver’s license numbers—all critical pieces of information used by identity thieves to impersonate people and conduct fraud.

Let’s break down what you can do to keep a close eye on your information, now and moving forward.

 

Initiate a Credit Freeze

If you have been the victim of a stolen identity, you know that the onus is on you to proactively prove that you are not responsible for the things that someone else did in your name. It is an arduous and painstaking process.

In light of the recently reported Equifax data breach, one action we recommend is to consider freezing your credit at each of the three major credit reporting companies. Taking this step will make it much more difficult for identity thieves to obtain new credit in your name. Here’s how.

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Our History as a Fiduciary

Norm Boone / May 25, 2017 / Mosaic News

For financial advisors, the term “fiduciary” has special meaning. It carries the expectation that an advisor who operates as a fiduciary puts their clients’ interests first. It’s a commitment that I’ve always believed in and I am proud that Mosaic continues to lead the way by acting as a fiduciary for our clients.

You might expect that putting clients’ interests first would be a normal service standard. But it hasn't been in the past and it still is not today. In fact, there has been a divide in the standards of service for decades.

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Mosaic Culture Via Wealth Coaching and Beyond

Norm Boone / Mar 28, 2017 / Coaching

Culture in a company ultimately determines your experience and the quality of your interactions with that company. But it's not just outward-facing: how the employees interact with and support one another, how they learn and develop as professionals, and how they make decisions that put the client’s interest first are all reflected in the culture of the company.

At Mosaic, coaching first impacted our company through service, and has since fanned out to touch all corners of our work, becoming a touchstone of our culture.

Here's three ways  Mosaic culture has benefitted from this influence.

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5 Tips for the Trump Era & Your Investment Portfolio

Norm Boone / Mar 21, 2017 / Mosaic News

President Donald Trump was elected to shake things up—to do things differently. For better or worse, he’s been doing just that.

His unpredictability makes it hard to anticipate the direction the new administration will take on issues ranging from tax policy, financial regulation, international relations, open and free media, to the judiciary and other topics.

This creates uncertainty that surrounds the direction of the investment environment.

U.S. stock markets displayed their enthusiasm for the lower taxes, reduced regulation and increased infrastructure spending they expect from President Trump.

If enacted, these policies could be good for business and could put more money in the pockets of the nation’s citizens. 

And yes, there could be costs to each, for the budget, for the environment and for citizenship rights.

The Labor Department recently announced that companies are continuing to hire at strong rates. If the trend continues, labor markets are likely to tighten and wages (and inflation) will probably rise. 

Interest rates are set to be pushed up by the Fed and the global demand for the dollar.  The increased strength of the dollar will eventually make it harder for U.S. firms to sell their products and services to buyers in other countries. 

Higher tariffs the Trump administration may choose to impose will inevitably be matched by other countries, inhibiting world trade, an important engine for global economic growth.

 

How should investors be viewing this and what, if anything, should they be doing differently?

Here are a few things to keep in mind as we move forward.

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