Second Half of 2013
This year’s Raymond James Summer Development Conference in July was one of the most interesting and educational of my 21-year career. Technology upgrades throughout the planning process through our new "Goal Planning & Monitoring" and new reporting processes offer excellent new tools for financial planning.
Life and long-term care insurance and their role in providing protection and asset preservation were timely topics. As with investments, we look at insurance as an important overall part of a wealth management plan.
Rising interest rates led to a marked decline in many fixed income areas of the market. We are not surprised by this and expect rates to move higher over the next several years. We have positioned the fixed income side of portfolios accordingly.
Stocks were also impacted by the move in higher rates with a 7% correction in the second quarter. While we have positioned portfolios with an overweighting of higher dividend stocks (value), we have recently begun allocating more capital to growth, where appropriate. The second half should be quite interesting for both U.S. and international stock markets.
We appreciate and greatly value our client relationships. In addition, we were given numerous qualified referrals in the first half and thank you for your confidence in our investment and planning process. We look forward to our next meeting with you.
Best regards,
Ken
Dividends are not guaranteed and will fluctuate. International investing involves additional risks such as currency fluctuations, differing financial accounting standards, and possible political and economic instability. These risks are greater in emerging markets.
