130 Middle Street,
Distinctly different from the “altered reality” of the late 60s and early 70s that many of us can recall, we now seem to be navigating a global phenomenon of interpretive reality wherein fact and fiction are secondary concerns to the successful distribution of one’s point of view. In the auditory silence of social media, success is an acclamation “vote” measured by emojis rather than any vocal debate of the actual pros and cons of real facts…which oftentimes get lost in the forest of myopic, and self-serving, online posts.
Domestic and Global Market Recap
“It appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook. Inflation pressures remain muted.”
During the second quarter of 2019, US and global financial markets rose and fell based on predictions for the future direction of the Federal Reserve discount rate. Robust economic numbers dashed hopes of a rate cut and were met by market declines.
Richard “Chip” Harlow
After the worst fourth quarter since the Financial Crisis and worst December since the Great Depression, stocks have come roaring back. In fact, the S&P 500 gained 18.5% in the first half of the year, it’s best start to a year since 1997.
DOL Fiduciary Rule becomes SEC Best Interest Rule? STEPHEN L. EDDY
In early 2016, as the new presidential election machine was fully engaged, the Department of Labor under the Obama administration passed the “Fiduciary Rule”. The regulation was designed to protect retirement plan participants and investors, and force brokers to behave more like Registered Investment Advisors by holding them to a standard in which everything they do for clients needed to be in the client’s best interest. The DOL rule was the culmination of six years of work post the 2008/09 “Great Recession”, when investor and government frustration with brokers had reached a crescendo.
Potential Risks of Universal Life Insurance
Historically low interest rates over the past decade have had a variety of impacts, from the beneficial - lower mortgage, home equity and credit card payments - to the detrimental - reduced income for retirees using fixed income and guaranteed products tied to the various interest rates. The low rates have also impacted more obscure products like Universal Life insurance.
Save The Dates:
We’re entering the time of year when a variety of non-profit organizations begin their annual fundraising efforts so they can continue to enhance the fabric of our community. Although by no means complete, the events below are but a sampling of the organizations that our firm, employees, colleagues and clients are involved with, should you want to consider supporting their missions.