Sheryl Garrett steps down as head of Garrett Investment Advisors

The hourly-fee guru is exiting her RIA, but has no plans to stop leading the Garrett Planning Network she founded

Jan 9, 2019 @ 1:00 pm

By Jeff Benjamin

Sheryl Garrett, founder of the Garrett Planning Network and long-time industry advocate for hourly-fee financial planning, is stepping away from her role as head of Garrett Investment Advisors, an RIA she co-founded in 2011.

Ms. Garrett, 56, said she is stepping down as chief executive and chief compliance officer of the Eureka Springs, Ark.-based financial planning firm "due to personal circumstances and wanting to focus on the network more and spend more time with my family."

Ms. Garrett will continue to lead the Garrett Planning Network, a professional network of more than 250 RIAs that subscribe to a philosophy of making financial planning available to everyone for an hourly fee.

The RIA, reflecting Ms. Garrett's multidecade passion for providing financial planning to the masses, has 30 advisers providing mostly hourly-fee services to approximately 800 clients. It also has $100 million under management.

"First and foremost, we're financial planners," said Justin Nichols, the firm's president and co-founder, who will be relocating the RIA to Manhattan, Kan.

"All in all, we think it's a pretty great fee-only RIA platform option that lets advisers build their own local brand as a DBA office of Garrett Investment Advisors, while we take more of the compliance, operations, billing, software selection functions off their plate so they can spend more time focusing on their clients," Mr. Nichols added.

Ms. Garrett's ownership exit from the RIA was effective as of Monday.


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