Managing Money: A Guide to Getting Started in the Business of Financial Planning and Investment by Ed Butowsky

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Edward”Ed” Butowsky is a certified public accountant and financial advisor. In 2021he established Chapwood Investments, LLC, an investment advisory firm focusing on customer wealth management. He also became the founding partner of Global Financial Management, LLC.

Ed Butowsky spoke about financial education in a meeting with Howard Stern. He was quoted as saying, quote,”The fiscal education of anybody now could be found online.” He proceeded to add that people now need more than only basic knowledge of finance, but has to be equipped with the resources to handle their finances. He proceeded to say there are too many people out there that don’t understand how to manage their money and shed it. He moved on to call those that do understand how to invest properly as”courageous people,” and that he believed these folks were in great demand.

Before we proceed, I want to give Ed Butowsky a few credit. The chap is absolutely an expert when it comes to financial advice and investing. He is a very good author and has a very engaging personality. That being said, a number of his recommendations may have proven to be somewhat off the mark, but overall, this is a very good book as far as financial advisors move.

Within this book, Butowsky begins by describing the task of a financial advisor. The focus of this first section is about what a financial advisor does. In accordance with Butowsky, his main duty is to analyze the financial statements of customers and recommend changes so as to enhance their financial health. However, the real test of a fiscal advisor is in how they handle their own portfolio.

This section of this book is quite comprehensive and goes into the kinds of investments that an advisor should evaluate before advocating any type of investment. Buteven after considering all the best investment opportunities, a fiscal advisor still has some obligation to their clientele. The book then has a brief description of how to invest. And, finallyit ends with a few short but very helpful strategies for managing cash.

In general, this is a wonderful little novel. It will not have the bells and whistles of morerecent books on fiscal management. However, for a person who is just getting started in the area of investment management, it features a good primer. Additionally, the excellent thing about Ed Butowsky’s approach is that it’s practical, even for individuals on the cusp of investing. I think anyone interested in financial analysis will find something to like here.