The Institutional Investor RIA Institute recently selected Daintree’s President and COO, Eric Godes to serve as their 9th Annual RIA East conference Chairperson. In addition to delivering the opening remarks, Eric moderated the two day conference attended by many leading Registered Investment Advisory and asset management firms. The Institute’s goal is to help RIAs make the investment decisions and practice management choices that will best serve their underlying clients. Topics included: “When Is The Next Recession,” “Setting Expectations For Your Equity Managers,” “Is Now The Time To Hire a COO?,” “Active And Passive Investing,” “Creating Client Loyalty,” and many more. Bestselling author, Beverly Flaxington, closed the conference with an inspiring presentation to help advisors incorporate what they heard and make their goals happen. Advisors in attendance are looking forward to the 10th annual conference next year.
Janie Monroe, CFP®
As the school year wraps up for students across the country, for many families, college is right around the corner. The cost of college is now one of the largest expenses many Americans incur. While the costs of higher education can vary depending on the type of school, location, and financial assistance, early preparation is always a good idea. One of the best ways to start saving is in a 529 plan, a tax-advantaged educational savings account.
Markets and Economy
Wow, what a fast turnaround! After a bruising end to 2018 that saw all asset classes except Fixed Income post negative returns, global financial markets rebounded strongly over the three months ended March 31, 2019. Year-to-date, markets have made back most, if not all, of what they lost in 2018, with all asset class returns ranging from low single-digits to over twenty percent.
Daintree’s President and COO, Eric Godes, recently moderated a panel for the 5th Annual Private Wealth New England Forum in Boston. The forum brings together leading RIAs, family offices, private banks and HNW wealth managers from across the region for a day of peer-to-peer learning from some of the top minds in the industry. Eric’s panel shared their insights on the future of wealth management and covered topics such as the transfer of wealth across generations, working with millennials, fee pressure in the industry and current communication methods with clients. Those in attendance found the session both informative and helpful.
Stephen P. Oliver, CFA, CFP®
The stock market can be wild—it’s down 2% one day, up 3% the next, then down again. Just when you think volatility is gone, suddenly it’s back! If you follow the markets too closely, it will drive you crazy. For example, in the fourth quarter of 2018 there was no place for an investor to hide. Interestingly, in the US stock market, as soon as 2018 ended, it experienced its best January performance since 1987. Of course, no one really knows what will happen going forward. Sticking your head in the sand does not work, nor does selling everything and waiting until the market gets better.
You cannot change the market but there are definite mistakes you can avoid and actions you can take to succeed long-term.
Barbara C. Attardo, CFP®, AEP®, CDFA®
Most of us think about the lifestyle we want when we retire, even if it’s still a long way off. We make all kinds of plans—to spend more time with the grandkids, learn to paint, get more involved in charity work, or travel the world. The list is endless! But have you thought about whether or not your finances will be able to support your plans and what you need to do now to make your retirement goals a reality? If you’re not sure, you’re not alone. Whether it’s a year, 10 years, or more away, it’s never too early or too late to start planning! The following steps will help you get started.
Alexander J. Gross, CPA/PFS, CFP®
Do you own waterfront property in Palm Beach or do you vacation at Grandma’s house every year? Whether you have a Lamborghini collection that spans every color of the rainbow or you drive an old beater, you should pay attention. Contrary to popular belief, people with all levels of wealth need an estate plan. Although the Tax Cuts and Jobs Act passed at the end of 2017 eliminated the federal gift and estate tax for the majority of people, there are several reasons why everyone should consider putting an estate plan in place.
JonPaul McBride, Senior Client Services Associate at Daintree Advisors, was chosen to attend the 2018 Center for Financial Planning Diversity Summit. He was one of 300 thought leaders in financial planning who gathered in New York City to discuss building a more diverse financial planning profession, and to address the serious underrepresentation of blacks and Latinos (less than 3.5 percent of all CFP® practitioners) and of women (23% of all CFP® practitioners) in the profession.
Daintree Advisors is pleased to announce that Barbara Attardo, Darlene Dahl, Lauren Desforge, Alex Gross, Mary Shahian and William Speciale have been named recipients of the 2019 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, publishes its list in the February 2019 edition of Boston Magazine. Wealth Managers do not pay a fee to be considered or placed on the final list of the 2019 Five Star Wealth Managers. The Five Star award is not indicative of the wealth manager’s future performance.
For more information on the research and selection methodology go to www.fivestarprofessional.com.
Lauren N. Desforge, CFP®, CPA/PFS, CDFA®, AEP®
A Health Savings Account (HSA) is like a Swiss Army knife of savings plans and can be a key retirement building block. It has many benefits and is super charged when used to cover the high cost of health care expenses.