Q. Can Goldman Sachs Group Inc. continue its stock-price revival?-— BR, via the Internet

A. Reorganised during the credit crisis as a bank holding company regulated by the Federal Reserve, this global investment banking firm is recovering in spectacular fashion.

It turned in a $3.4 billion profit in its second quarter on strong trading and stock underwriting results, despite the fact that it paid back the $10 billion in bailout money the government had pressured it to take.

A leader in its field before the meltdown, it now benefits from the exit of major competitors Bear Stearns Cos. and Lehman Brothers Holdings.

This also puts the firm under a high-powered microscope, with even Jon Stewart lampooning its ongoing embarrassment of riches on Comedy Central's "Daily Show". It has been sharply criticised for the record bonuses it is paying to its top executives, as well as potential influence from its former employees within the federal government.

Goldman Sachs stock is up 108 percent this year following last year's 60 percent decline. The capital infusion from Warren Buffett's Berkshire Hathaway has enhanced confidence in the firm's future solvency.

The question, however, is whether Goldman Sachs can keep up its torrid pace if its status as a bank deprives it of its traditional high-risk/high-reward business model. The more restricted role of a bank holding company could result in less robust trading and investment activities than in the past, which could lead to reduced returns for shareholders. Another problem is that it is still carrying a lot of debt and higher-risk derivatives contracts.

Thus far it hasn't been operating or doing its financial reporting much like a bank, so its evolution will be closely monitored.

Based on the positives of its investment-industry might and its top-notch employees, Goldman Sachs receives a consensus analyst opinion of "buy", according to Thomson Reuters, consisting of nine "strong buys", six "buys", seven "holds" and one "underperform."

Lloyd Blankfein, whose previous executive positions with the firm included president and chief operating officer, has been chairman and CEO since 2006. That's when Henry Paulson departed the top spot to become US Treasury secretary.

Goldman Sachs earnings are expected to rise six percent this year. Next year's projected five percent increase compares with the 57 percent rise forecast for the diversified investments industry. The five-year annualized growth rate expectation of 12 percent is in line with its peers.

Q. How much does a financial plan cost? - DG, via the Internet

A. The cost depends largely on the scope and complexity of the work to be done. In addition, you can expect to pay a higher fee in a major city than would be the case in a smaller town or rural community.

If you're looking for a comprehensive plan, it should cover all aspects of your financial life, including retirement, estate planning, college funding and taxes. All current and future financial considerations must be discussed openly and taken into account.

"A financial plan could cost as little as $500 to $1,000, but a very complex plan could cost as much as $5,000," said Ellen Turf, CEO of the 2,000-member National Association of Personal Financial Advisors in Arlington Heights, Ill., a non-profit organization of fee-only planners. "The planner should always discuss compensation up front so that you know ahead of time what it is going to cost you."

The gathering of client data, setting up of future goals and analysis of current financial status are important determinants in the structuring of a plan. Recommendations must actually be implemented and monitored afterward because a plan tossed in a desk drawer does absolutely nothing but waste money.

Andrew Leckey answers questions only through the column. Address inquiries to Andrew Leckey, 555 N Central Ave., Suite 302, Phoenix, AZ 85004-1248, or by e-mail at andrewinv@aol.com

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