Philip H. Weiss

CPA, CFA
Personal Finance, Investing, Taxes
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“Phil Weiss is the founder and Principal of Apprise Wealth Management. A CPA and a CFA charterholder, he has spent his entire career working in the financial services industry.”
Firm:

Apprise Wealth Management LLC

Job Title:

Principal

Biography:

Phil founded Apprise Wealth Management. He started his financial services career in 1987 working as a tax professional for Deloitte & Touche. For the past 20 years, he has worked extensively in the areas of personal finance and investment management. Phil is both a CFA charterholder and a CPA. In addition, he has served as a featured media spokesperson and has written weekly commentary on market-related topics. His investment approach favors the long term, as well as assessing the value and fundamentals of the assets in which he invests. 

He launched his own Registered Investment Advisor (RIA) business so he could provide financial planning, personal finance, and investment management services and education to those looking for assistance. He believes it is a privilege to help others plan for their financial future. 

Phil grew up in Livingston, New Jersey and graduated from Rutgers University with a BS degree in Accounting. He also attended Duke University for three years where he was a Psychology major. 

He and his wife, Diana, live in Maryland and are proud parents of four children. Phil enjoys following his favorite sports teams, reading, and spending time with his family at home, on the fields, and when traveling. Phil continues to coach many of the youth sports teams that his children play for.

Education:

BS, Accounting, Rutgers University/Rutgers College
Duke University

Assets Under Management:

$5 million

Fee Structure:

Asset-Based
Hourly

CRD Number:

4619842

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Should I subscribe to a stock advice newsletter?
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In general, I believe in being skeptical about the value of stock advice newsletters. After all, if their stock picks were so good, then they wouldn't need to market a newsletter to make money. Instead, they could just invest in the stocks they recommend and profit from their successful stock picking.

One source you can check to see the track record of some of the more well-known newsletters is Mark Hulbert's site (http://hulbertratings.com/). 

Even if you do find an idea you think is worthwhile in a newsletter, I would still recommend that you do your own research. A similar concept applies if you want to buy stocks that you know well-known investment gurus have purchased. Even if you know they bought or recommended the stock, they may not tell you when they no longer think it should be owned. It's important to know why it is owned as well as recognize if (or when) it should be sold. That end of that last statement is in recognition of a quote from one of my favorite investment books - Common Stocks and Uncommon Profits: "If the job has been correctly done when a common stock is purchased, the time to sell it is - almost never." - Philip A. Fisher

When buying an individual stock, it is important to have a thesis providing the reason for purchase. This should be reviewed as you follow the stock's performance over time. If the thesis no longer applies, it may, in fact, be time to sell. If we don't have a thesis upfront, then we may remember things differently than they actually are (or mold the story to fit what happened after purchase). 

There is no reason you can't do your own stock research. But, relying on others to make recommendations for you, especially when you don't know how much "skin" they have in the game, or what motivations they might have for making the recommendation can often lead to less-than-desired results.

Thanks for the question. I hope this helps.

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