Daintree employees enjoyed attending the 36th annual Jimmy Fund Scooper Bowl,® the nation’s largest all-you-can-eat ice cream festival. The Jimmy Fund supports Boston’s Dana-Farber Cancer Institute for adult and pediatric cancer care and research. This year the Scooper Bowl raised more than $400,000!
A historic era is over. For 18 months prior to January of this year, the S&P 500 experienced zero pullbacks of 5% or more. This might not sound impressive in and of itself, but put in historical perspective, this was a period of extremely low volatility. In a normal calendar year, the S&P 500 typically experiences five pullbacks of 5% or greater and one pullback of 10% or greater. However, for an extended period markets confounded this norm as asset prices experienced unabated appreciation. At the beginning of this 18-month period, a reasonable investor would assume seven or eight sizable equity market pullbacks, yet equity markets experienced none.
Daintree Advisors is pleased to announce that Barbara Attardo, Darlene Dahl, Lauren Desforge, Alex Gross, and Mary Shahian have been named recipients of the 2018 Five Star Wealth Manager award as featured in Boston Magazine. To receive the award, wealth managers must meet 10 objective criteria evaluated via surveys of Boston area households and financial services professionals, as well as independent research. Five Star Professional, which sponsors the nationwide award program, published its list in the February 2018 edition of Boston Magazine.Wealth Managers do not pay a fee to be considered or placed on the final list of the 2018 Five Star Wealth Managers. The Five Star award is not indicative of the wealth manager’s future performance.
Are you unfazed by the markets’ lofty valuations? Equity markets do not seem too fazed by much of anything. No matter what disaster or uncertainty came our way during 2017, global equity markets (MSCI ACWI) were up in each month of the year. That is a remarkable result and a measure of calm in the face of extreme political drama, international terror, policy changes, North Korea’s nuclear threat, cyberattacks, hurricanes, wildfires, etc.
This year’s story has been the strength of global stock markets. Equities have moved higher based on better than expected fundamentals including synchronized growth across most economies. Other factors—such as central banks, North Korea, hurricanes, and politics—have not been enough to disrupt an economic environment that could easily be characterized as “good but not great.” The strength of equities outside the U.S. is not surprising given the more attractive valuations in foreign markets. Other themes this year include the strength of high yield bonds, non-U.S. REITs, and gold.
On November 2, 2017, Daintree’s President and COO, Eric Godes, along with Partner and Senior Client Advisor, Barbara C. Attardo, were featured speakers at the New England Wealth & Retirement Conference held at Gillette Stadium. Barbara spoke on a panel entitled “Well-thy” women addressing the industry’s need for more qualified women advisors and how crucial it is for all advisors to understand the female investor and how best to help them navigate the wealth management and financial planning landscape. Eric spoke on a panel to educate advisors on how to build a thriving practice. Clearly not all firms are created equal, and by following best practices and always keeping the client’s best interests first and foremost, you can both build a thriving practice and ensure clients are well served while receiving prudent and personalized advice.
Mary M. Shahian, Partner and Senior Client Advisor at Daintree Advisors, published an article on charitable gift annuities in the Harvard Medical School Newsletter. See Mary’s full bio on Daintree’s website.