Like many others, I found my way into my career through the example of someone close to me. In my case, it was my father’s interest in the financial world that sparked my passion and eventually led me to pursue investing as a career. As a kid, I would watch my dad study the markets, read his Value Line subscription, and watch CNBC for financial news. He was such a successful student of the markets that his Smith Barney stockbroker would often pitch my dad’s ideas to his other clients. Having this example in my formative years, I couldn’t help but become interested in the markets and investing myself. This interest has led me down the path to a fulfilling career.
We want to take a moment to share our appreciation to all of our clients, team members, partners, and friends of the firm who have positively impacted Massey Quick Simon this past year. Since the start of 2018, we have expanded into Chattanooga, launched a new website, added equity principals, and given back to the local community through our Annual Golf Outing and community service day. See our newest initiatives, offices, and team members in our firm newsletter!
Brexit has been in the headlines of global news ever since its referendum in the summer of 2016. Now this month, talk of Brexit is reaching a feverish pitch as the UK is slated to leave the EU by the end of March. There are three likely scenarios that could occur by the end of the month.
Ms. Morelli, a newly widowed 62 year-old woman with two grown children, came to Massey Quick Simon at the suggestion of a friend. Her late husband had managed all of their investments without the assistance of an outside advisor. He had kept Ms. Morelli in the loop in a general sense but she had never been intimately involved in the day-to-day transactions or composition of their joint portfolio. Composed, yet eager to build an understanding of her estate, Ms. Morelli looked to Massey Quick Simon for guidance and organization as she entered the next phase of her life.
If you had to pick between the two, would you rather file your taxes or go without your phone for a week? There’s a good chance you’d happily hand over your beloved phone along with the other 28% of Americans who are also dreading having to deal with taxes. And to add to the fun of tax season, the new Tax Cuts & Jobs Act means we now have a slew of new tax reforms to decipher. Among these is a new 1040 form and the possibility of six new schedules to fill out, depending on your situation. As is usually the case, what is intended to simplify filing taxes for some has complicated it for others.
Life is full of unexpected twists and turns. While we may start out in one career, our experiences may show us other areas we want to pursue, needs that aren’t being met, or open doors to new opportunities. That’s exactly how I found my way into my career as a financial advisor.
The final quarter of 2018 was the worst quarterly performance for the US stock market since Q3 2011, largely due to an abysmal December – the worst since 1970. Market volatility came roaring back in the fourth quarter with a variety of economic and political factors contributing to the turbulence. Our Q4 Market Webcast focuses on what happened in the markets through December and how we are thinking about them going forward. Please watch the recording for key insights from our CIO Chris Moore.
As we entered 2018, equities rallied with vigor in January, however we began to see a wider distribution of returns across markets. The first salvo of a trade war with China was made in February and catalyzed domestic and international equity dispersion, further fueled by a strengthening dollar as investors rightfully viewed the US’ domestic growth, rising rates, and now protectionist measures, as an attractive market to be allocating capital to. We would note that “growth” stocks performed well but the continued rise in rates weighed on slower growing “value” stocks, as they were viewed to be more rate sensitive and subject to inflation. Through all this, investors leaning into domestic high-multiple growth equities and away from more defensive fixed income assets looked like heroes through most of 2018.
There are certain things that most of us, for one reason or another, tend to put off. Estate planning is usually one of them. Whether it be because we don’t want to think about our lives ending, we believe it’s too costly, or that it simply doesn’t seem necessary, we tend to leave this imperative task lingering on our to-do lists. In fact, only 51% of Americans have done any estate planning at all, which means, essentially, half the population is taking a potentially detrimental risk when it comes to caring for their families and assets.
With identity theft and data breaches on the rise, it’s normal to feel a bit nervous. After all, no matter how many precautions you take, it’s almost impossible to protect all your data, all the time; and if it falls into the wrong hands, you could be in for a world of hurt. At least that was the case until a new law passed in September 2018 allowing anyone to freeze and unfreeze their credit for free.
Sometimes a career journey is full of twists and turns, and sometimes you just know the right path to take. I fall into the second category. During my college years, I knew I wanted to pursue a career where I could help people and partner with them to find success in life, and the financial industry seemed to be the right place to do that. I earned my bachelor’s degree in finance from Syracuse University and began obtaining the experience and education necessary to launch a fulfilling and enjoyable career.
Mr. Shepherd, a successful businessman, had numerous investments made on the recommendation of friends, brokers and other financial professionals. As his accounts grew, he recognized that he needed someone to conduct more thorough due diligence on his current and prospective investment managers, advise him on the proper balance for the portfolio and provide a consolidated statement.
One of the best ways to decide what career is best for you is to dip your toes into a particular industry and gain hands-on experience. This is how I indirectly found my way into the financial services industry. I was initially drawn to the field of law, but after working at a law firm during high school, I quickly realized it wasn’t the right fit for me.