Phelps says that over the last year, his clients have been dollar-cost-averaging more than ever. "That has served me very, very well." His MoneyGuidePro software, the Internet-based financial planning software offered by PIE Technologies in Midlothian, Va., is "off the charts," he says.  

Most of his clients have 40% of their money in bonds and high-quality short-term positions, and he has ignored the noise about the sinking real estate market. His persistence with the DFA Real Estate Securities portfolio has paid off handsomely. It was up 8.33% as of April 30, while "most think that segment of the market is getting destroyed," Phelps notes. "It just goes to show you that cocktail party stories are almost always the wrong thing to do."

James M. Knaus, co-owner of Global Wealth Advisors LLC in Troy, Mich., says his assets have increased year after year largely because he asks for referrals from clients, attorneys and CPAs. He says he gets them largely by focusing on areas where he can control the pricing of his firm's fees and include low-cost funds.

He estimates that he offers 25% to 50% lower aggregate pricing than competitors. "There have been temporary fluctuations in the last three or four months," says Knaus, the past president of the Financial and Estate Planning Council of Metropolitan Detroit, who is also a frequent guest on TV. "That's to be expected."

Nevertheless, those who are unsettled are invited to come in for reassurance, and to be certain that their portfolios are set up to meet targeted time horizons.

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