Cindy Krischer Goodman | 4/1/2011

Deena Katz
Chairman, Evensky & Katz Wealth Management, Coral Gables

Best money advice ever received: Have a plan for your portfolio and follow that plan in any economic environment. Don't run around chasing returns. Stay with your plan even when things look scary.

Best money advice she's ever given: Don't make any immediate decisions after you've suffered a loss.

Advice to clients now: Start saving now for your future. Most of us will live longer than we think, and we will have to pay for it. It will be your responsibility, not the government's or your employer's.

How she'd invest $50,000: I would buy passive investments, maybe the S&P 500 or ETFs (exchange traded funds) and leave it alone for the next 20 years.

71% Percentage of financial planners in the U.S. who are employed by firms

Roger Robson
Founding principal, CapTrust Advisors, Tampa

Best money advice ever received: Have a clear understanding of what real risk is, which is a permanent loss of capital. Don't ever forget that.

Best money advice he's ever given: It is never too early to begin the habit of saving. Pay yourself first by investing in an IRA or 401(k). There's no substitute for compounding when you begin investing early in one's life. Start when you are 21 vs. 31 because you will have wasted 10 years. Saving anything is better than saving nothing. The habit of saving and investing is as important as the dollars.

Advice to clients now: There is more risk in municipal bonds than people care to believe. If you own them, be aware of this and understand what you own. You don't need to exit the market altogether, but you should be prepared for more uncertainty. Also, consider adding to your bond portfolio if there are more negative developments because that would create more opportunity. ... Corporate America has never been stronger. Get ready for significant merger and acquisitions over the next two years. Companies can't just sit on cash and buy back stock. We think there is merger and acquisition potential in small-cap and mid-cap stocks.

How he'd invest $50,000: I'm an equity guy. There are great companies out there you could own and be well rewarded in next five years, global companies with great balance sheets. There's a difference between investing and being aggressive. If you buy the company's products and understand the company well, it's an easy decision on what to own.

29% Percentage of financial planners who are self-employed