Perpetually Looking Forward

The last time interest rates (as measured by the Fed Funds Effective Rate) broke above 5% was in the second half of 2006, when Chairmen Greenspan and Bernanke tried to cool the white-hot housing market and stem the flow of easy credit amidst the leveraged buy-out boom. It took the Fed about two years to move rates up 4 percent, but stocks took these hikes in stride, generating positive returns during that period.

Americans tend to be generous when it comes to helping out their fellow citizens. In 2020, Americans gave a record $471 billion to charities, according to Giving USA, up five percent from the previous year.

When you invest in public markets you inevitably find yourself riding the ups and downs of market swings. This is especially true when the markets are volatile like they have been recently.

Morristown, NJ—July 31, 2023—Simon Quick Advisors has been recognized as one of New Jersey’s Best Places to Work, 2023 by NJBIZ.

7/27/2023 – Simon Quick Advisors is proud to announce its recognition as one of the Fastest Growing Registered Investment Advisors (RIAs) and one of America’s Top RIAs of 2023. The complete list of ranked advisors can be found here.

After a painful year of negative equity & fixed income returns in 2022, markets have experienced a strong rally thus far in 2023. The S&P 500 advanced over 16% during the first half of the year as hype surrounding advances in Artificial Intelligence (‘AI’) led to significant gains for technology-oriented businesses, helping to offset negative sentiment driven by regional bank runs.

In this ongoing series, we are profiling several Simon Quick clients to reveal some of the financial and estate planning challenges faced by wealthy families and how we have been able to help them meet these challenges.

Family offices are growing in popularity as the number of ultra-high-net-worth individuals (UHNWIs) increases worldwide. In 2019 there were an estimated 7,300 family offices worldwide, which was up a whopping 38% from the year before. Forty-two percent of these family offices were located in North America, 31.5% were located in Europe and 17.8% were located in Asia.