is this you? Claim your profile.
is this you? Claim your profile.
Certified Financial Planner
+ Get 10 Free Contacts a Month
It's free and takes 30 seconds
President and Chief Executive Officer, Discovery Financial
Goodhue County Financial Corporation
Financial Advisor, CFP®, PFS
Financial Planning Association
American Institute of Certified Public Accountants Inc
Personal Financial Specialist and A Member
University of Minnesota
Red Wing Republican Eagle
This one began shortly after the July 4 weekend, said Doug Ritter, a certified financial planner for Washington Square Securities and Discovery Financial Centers in Red Wing.Credit is widely available, interest rates are low, corporate earnings are on the upswing and the gross domestic product grew almost 6 percent in first quarter, painting a fairly positive outlook, Ritter added. So why the decline?"Investor fear and concerns that it will decline more," he said. Advisers aren't sure whether the market will get worse, though.Instead, they're telling clients that now is a good time to re-examine portfolios."Because of the '90s run-up in stock prices there's an overconcentration in certain sectors in the stock market," Ritter said. Stocks were down again in early trading today.After the 390-point plunge Friday that took the Dow Jones industrials to its worst close in nearly four years, many market observers said a brief bounce higher on bargain hunting was the best the market could do - and more losses this week are still a strong possibility. Indiscriminate sellingAnalysts say lagging investor confidence, already battered after two years of losses in the market, is a key reason for much of the poor performance. "So good, solid Minnesota companies have been hit pretty hard, too," Ritter said."Selling has been pretty indiscriminate." Although a rebound was possible simply because of the magnitude of the market's losses last week, few analysts doubt it would last because the prospects for more bad news are significant. Not much optimismThere isn't much optimism.
Red Wing Chamber
Doug Ritter President and CEO Discovery Financial email@example.com
Five Star Professional: View Profile
Doug brings 35 years of broad financial experience in assisting his clients to achieve their most important financial goals. He focuses his attention on investment management of personal and retirement assets, estate planning and the development of personalized financial strategies. Doug graduated from the University of Minnesota with a bachelor's degree in accounting. He is a Certified Financial Planner and a member of the Financial Planning Association. He previously served as chief financial officer of a leading community banking organization. Doug is a Personal Financial Specialist (PFS) and a member of the American Institute of CPAs and was formerly associated with a major international accounting firm as a senior manager. Doug is very active in the community and has served in leadership positions for a variety of organizations including the Red Wing Family YMCA, Red Wing Area Chamber of Commerce, Sheldon Theatre and the Church of St. Joseph.
Douglas Ritter, Matthew Hardyman, Tim Kelly
Dec 98 PP Q&A
Douglas L. Ritter, CFP, Discovery Financial Centers, Inc., Red Wing (612) 893-5565Q I am worried about the recent fluctuations in the market.With most of my money in the market, what options do I have to lower risk? A In volatile markets, many investors seek the safety of lower-risk investments that add stability of principal while locking in specific rates of return.For example, certificates of deposit provide safety through FDIC insurance up to $100,000.