Investment Review – October 2019
- For the month of September, the Dow gained 2%, the S&P advanced 1.7% and the Nasdaq added 0.5%. For the quarter, the Dow and the S&P 500 both rose 1.2%, but the Nasdaq fell 0.1%. Mid-sized companies had a very strong month with a 3.1% increase. Broad based European indices performed slightly better than US, with a 2.5% month, as some Brexit worries were calmed.
- The 10-year Treasury note yield was up 17 basis points (bps) for the month, marking its biggest monthly rise since September 2018. The 2-year note yield moved up 12 basis points in the month and the 30-year note yield edged higher to 2.12%. The 30-year bond yield tumbled 41 bps between July and September, marking its biggest quarterly drop in five years.
- Following a mid-month attack on a major Saudi Arabian oil processing facility the price of crude oil spiked up about 15%. Assurances from governments and access to strategic reserves calmed shortage fears and the price retreated, ending September down 1.7%.
Sources: Bloomberg LLC, FactSet, U.S. Department of Labor, Dow Jones
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
If you would like to receive your copy of the Economic Outlook and Investment Review monthly in the mail, call Ed Sullivan, Vice President, at 617-557-9800, or email him at esullivan@welchforbes.com.
Make sure to bookmark our Perspectives webpage so you can stay up to date with the most recent weekly Welch & Forbes insights, announcements, and content. To receive our monthly email digest, simply enter your email address in the banner on this page.
Access your complimentary Wealth Planning Suite
Includes your √ Initial Consultation √ Portfolio X-Ray© √ Estate Plan Review √ Financial Plan
Initial Consultation
A person-to-person discussion with a Portfolio Manager to explore your goals and investment objectives with a primary focus on your:
- Risk tolerance
- Income needs
- Time horizon
- Estate plans
We will share insights gained from our 178 years of wealth management experience and provide you a look inside how we address managing the complexity inherent in clients’ wealth.
Documents needed: None.
Portfolio X-Ray©
A sophisticated analytical tool whose output is reviewed with you by a Portfolio Manager. The Portfolio X-Ray© dissects your portfolio and helps you to gain a clear view of your current holdings. Analysis includes:
- Overall asset allocation
- Section weightings
- Concentrated positions
- Stock holdings behind mutual funds
- Performance against benchmarks and industry indexes
- Underlying fees
We will be looking to see how your portfolio addresses your needs and objectives as identified in our Initial Consultation.
Documents needed: Current portfolio statements.
*There is no fee for the Initial Consultation or Portfolio X-Ray© for prospective clients. Portfolio X-Ray© is a Morningstar product that Welch & Forbes maintains a license for its use.
Estate Plan Review
A confidential review of your estate plan documents by a practicing Trust & Estate lawyer in light of current law and your personal situation. Review includes:
- A summary memo of the findings
- Recommendations for revisions/updates*
- A discussion with the reviewing counsel
Follow up may include a discussion regarding:
- Wealth transfer and trust and estate settlement services
- Philanthropic planning
- Process of implementing an estate plan
Documents needed: Completed Confidential Data Questionnaire, current estate plan documents, and current tax returns.
*There is no obligation to use reviewing counsel for any updates or revisions.
Financial Plan
Creation of a Personal Financial Plan to provide you with an enhanced understanding of the interrelation of the various parts of your wealth leading to projections in areas reviewed with a Portfolio Manager and other W&F professionals as needed, including:
- Cash flow
- Net worth over time
- Monte Carlo analysis – value of investments
- Inflation impact
- Required Minimum Distributions – IRA
- Asset allocation strategy
- Roth IRA conversion comparison
- Estate strategy impact
- Education analysis
- Projected income
Documents needed: Completed Financial Analysis Questionnaire.
*There is no fee for the Initial Consultation or Portfolio X-Ray© for prospective clients. Portfolio X-Ray© is a Morningstar product that Welch & Forbes maintains a license for its use. The Estate Plan Review and Financial Plan are provided only to clients.
