Vote Today
Quick Note on the Election
Today our country votes and the results will likely have long term implications for our country and markets. Whatever the result, our commitment to prudently manage our clients assets won’t change. Undoubtedly , there will be both opportunity and risk as we enter the next four year presidential cycle and we are committed to staying on top of and communicating how those changes might impact you and your family’s finances.
Our Team Has Expanded Yet Again
I’m happy to announce that Eric Boldger has joined my team as a financial advisor. Eric comes to us from Baird where he served in an advisory role. We are fortunate to have him joining our team.
Eric is an experienced financial planner and will be working with clients on developing financial plans, college savings strategies, insurance assessment and cashiering. Eric has made it his mission to help clients, in all stages of life, bring their financial plan into focus and to set and pursue their goals. Eric, together with his wife Virginia, are residents of Wauwatosa and significant patrons of the arts, in particular theater. Please join me in welcoming him to the team!
A Brief Update on the Markets
The election is today, and I don’t think anyone knows what the results will be or how those results will affect our economy or continued recovery from the recession. Despite the uncertainty, the markets remain elevated and the record setting first quarter losses have only been surpassed by the record setting market recovery.
The rally, however, has been extremely narrow. US Large Cap Growth, led by the technology sector, has accounted for the vast majority of the recovery. As people have moved their shopping, relationships, work and entertainment online, Facebook, Apple, Netflix, Microsoft, Amazon and Google (the FANMAG stocks) have grown by leaps and bounds. This while value equities, US small and mid-sized equities and international equities have all lagged.
While the broad market indexes have recovered, the economy is still a long ways off. We remain in a recession and news about the global progress against the pandemic seems to change daily. Unemployment remains high and uncertainty regarding the future is palpable.
If the 2020 stock market has taught us anything, it is that it is unpredictable. Long term investors will be able to weather this as they have every other recession. For short term money, however, it remains important to manage funds that will need to be used in the next 3-5 years.
One last note - interest rates have fallen significantly. This is a double edged sword as it is good for borrowers and bad for lenders. To the extent you are borrowing money (business loans, mortgage, lines of credit, auto loans, etc.) now may be a good time to look at refinancing or restructuring that debt.
As always, if anything has changed in your financial situation or if there is anything Eric and I can do for you or any members of your family, please let us know.
The information given herein is taken from source that IFP Advisors, LLC, dba Independent Financial Partners (IFP), IFP Securities, LLC, dba Independent Financial Partners (IFP), and its advisors believe to be reliable, but is not guaranteed by us as to accuracy or completeness. This is for information purposes only and in no event should be construed as an offer to sell or solicitation or an offer to buy any securities or products. Please consult your tax and/or legal advisor before implementing any tax and/or legal related strategies mentioned in this publication as IFP does not provide tax and/or legal advice. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation, or needs of individual investors. This report may not be reproduced, distributed, or published by any person for any purpose without IFP's express prior written consent.