Has Investment Advice Changed Over the Last Year?
The Boston Business Journal recently reached out to investment advisory firms, including Welch & Forbes, after releasing their annual Largest Investment Advisors in Massachusetts listing with the following question:
“How has the investment advice you’re currently providing your clients changed, if at all, in the last year?”
Welch & Forbes Portfolio Manager Drew Schneller answered their question as follows:
We continue to be of the view that the economic expansion in the U. S. will remain a shallow one but last longer in duration than historically. U. S. stocks passed their earnings trough last year and earnings growth this year should support equity valuations. Despite the Federal Reserve’s tightening bias monetary policy remains relatively accommodative due to low inflation expectations. Fiscal policy may provide a further boost to the economy later in the year. We maintain our bias to stocks relative to bonds. Improving economic conditions abroad may provide additional opportunities outside the U. S.”
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* 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.