Vision: Lighthouses serve as beacons of strength, safety and hope. Lighthouses mark dangerous courses to be avoided and offer safe entries to the harbors of our dreams. They operate from a solid base, offering long-term, objective and valuable services through good and bad times to those from all walks-of-life who heed their messages. LFP is committed to using its energy, education and experience to leave the world and those we interact with, both personally and professionally, better off. LFP believes that through financial planning we can help our clients make the financial decisions that will best help them realize their dreams and goals.
Approach: While LFP offers its clients professional, objective investment advice and ongoing asset management, the term "Financial Planning" in our firm's name conveys the context in which we prefer to offer all of our services, including asset management. Financial planning includes identifying goals, such as a new home or business, saving for college and retirement, and transferring wealth before or after your death. It includes planning for the expected and unexpected such as taxes, unforeseen liabilities, and incapacity. As Yogi Berra is reported to have said, "you've got to be very careful if you don't know where you are going or you might not get there". At LFP we believe that you have to know where you are going and to address saving, investments and other financial decisions in the context of your goals, your tolerance for risk and your overall financial situation.
Investment philosophy:Our investment approach is grounded in accepted academic and other research that has evaluated investment approaches and returns for over 50 years. The time-tested investment principles we follow emphasize asset allocation (among domestic and foreign stocks, bonds, cash and other asset classes) that matches your goals and tolerance for risk, broad diversification of investments within these asset classes, and low fees. LFP does not attempt to time the market or try to predict the future. We are not short term traders. We believe that sound, prudent, disciplined, long-term investment guided by a financial plan provides our clients with the best chance of realizing their goals.
We also want to protect your assets and reduce the inevitable swings in the value of your investments. Yet, history shows that there is always the risk of loss, especially over shorter periods of time. Thus, we tailor investments to match the time frames of your goals and give you an appropriate level of risk-adjusted returns.
About us:Lighthouse Financial Planning, LLC(LFP) started business in April 2003. LFP is a Registered Investment Advisor in the States of Maryland and Virginia. We operate as a fee-only financial planning and investment management firm serving all of our clients in a fiduciary capacity. LFP sells no products, so we receive no commissions for recommending particular investments, insurance or other products. A fiduciary standard means that we are putting your interests first, without any influence from outside interests.
LFP is headquartered in Potomac, Maryland, also servicing Northern Virginia, Washington DC, as well as the New York City Metropolitan Area, including Manhattan, Rockland County, NY, and Northeastern New Jersey. LFP is a small, growing firm that offers personal service. We are always available to answer your calls and address your questions.
LFP uses TD Ameritrade as its broker-dealer for securities transactions, and custody of some client funds. Dimensional Fund Advisors, among others, is a frequent choice for mutual fund investments. LFP is listed in Standard and Poors' Directory of Investment Advisors and in Consumer Research Council of America's Top Financial Advisors (2008).
Barry Korb, LFP's Principal
Barry R. Korb, CFP®, President and Chief Planner and Asset Manager of Lighthouse Financial Planning, LLC (LFP) earned a BS in Mathematics from the University of Maryland, an MS in Physics from Rutgers (NASA Fellowship), and then completed additional graduate course work in Economics, Statistics and Operations Research at George Washington University. Mr. Korb started his career as a consultant to the Navy and NASA and is the co-inventer of a "Computational Aid Device for Ekelund Ranging" (US Patent # 4327500). Mr. Korb then worked as a full-time Senior Program Advisor at the US Environmental Protection Agency, with a strong focus on bringing the market to the environment. He was involved in the development of the first emissions trading program, the acid rain emission credit program, managed a grant examining the relationship between companies' environmental and equity market performance, and as an IPA with the State of Maryland's Department of Business and Economic Development focused on helping Maryland's environmental industry, including consulting with selected business owners.
Picking up on a long-time interest in personal financial planning, Mr. Korb worked part time at a prestigious Bethesda, Maryland-based fee-only financial planning firm where he performed such tasks as introducing Monte Carlo techniques, drafting an enhanced Investment Policy Statement template, revising investment education material for clients and exploring integrating office systems.
Mr. Korb earned a Certificate in Financial Planning from Florida Institute of Technology in March, 2000, and received his Certified Financial Planner® designation in July, 2000. He started his own financial planning business, Lighthouse Financial Planning, in 2003. He has earned numerous continuing education credits (CEUs) in the financial planning field since that time. Mr. Korb is a registered Investment Advisor Representative, and a licensed Life and Health Insurance Advisor in the State of Maryland.
Mr. Korb is a member of the National Association of Personal Financial Advisors (NAPFA) and the Financial Planning Association (FPA). He is the immediate Past-President of the NAPFA Metropolitan DC Study Group. He has volunteered for Kiplinger-NAPFA financial planning call-in days and regularly participates in professional conferences sponsored by NAPFA, FPA, and other organizations.
Mr. Korb has been quoted numerous times in the popular and trade press. He was quoted on "Options for Savers Seeking Better Rates" in The New York Times, July 2012, on "Caveats for helping children buy a house" in Washington Post, September 2011, on "Changes Chalked up for 403(b)s" in Consumer Reports Money Advisor, March 2008; on Long-Term Care Insurance in the Ladies Home Journal, May 2007; on Alternative Minimum Tax Policy in Investment News, April 2, 2007; on taking full advantage of tax saving opportunities with 401(k) plans, traditional and Roth IRAs in Fidelity Investor's Weekly, Personal Finance Newsletter, July 4, 2005.
Mr. Korb is married with two married children and five young grandchildren. He still finds time for racquetball and sailing.
Steve Lingle, LFP Associate
Mr. Stephen A. Lingle, CFP®, joined LFP in 2008 after retirement from government service. Mr. Lingle earned a BS in Chemical Engineering from the University of Illinois and a MBA in Finance from Indiana University. He worked as a Senior Manager at the U.S. Environmental Protection Agency for over 25 years with wide-ranging responsibilities. Mr Lingle earned a Certificate in Financial Planning from Florida State University in 2003, and received his Certified Financial Planner® designation in July 2009. He is a Registered Investment Advisor Representative in the states of Virginia and Maryland. He has earned numerous continuing education credits in the financial planning field. Mr. Lingle is also an active member of the Financial Planning Association (FPA) and the National Association of Personal Financial Advisors (NAPFA). He participates actively in the NAPFA Metropolitan DC Study Group, and is a NAPFA-Registered Financial Advisors.
Through the National Institute for Transition Planning Mr. Lingle conducts financial planning seminars for federal employees. These seminars are usually either a day or a half-day, and go through the steps that federal employees need to take to bring their financial lives into focus. A typical half-day seminar discusses how much you need to retire; saving through the TSP, IRAs and other mechanisms; how to invest your saved dollars; how to manage credit and debt; and how to manage risks to a sound retirement. Seminars are also presented on investing in the TSP.
In addition to there seminars Mr Lingle writes articles on the NITP web site and participates on the NITP radio show at 10am on Monday morning. His contributions to each are listed in the press quotes section referenced on the first page. He has also volunteered for investor education events such as 'How Can I Afford Retirement" sponsored by the FPA, the Investor Protection Trust and the DC Public Library. Mr Lingle has also given several seminars on planning for college for schools in the MD area, such as Sherwood High and Nora School.
Mr. Lingle resides in Virginia, is married and has two married children and four grandchildren. He enjoys sports, traveling and helping people take control of their financial future.