Perpetually Looking Forward

Simon Quick is proud to announce a significant milestone in our journey—20 years of providing exceptional financial planning and investment services. What began around our founding partner's dinner table in September of 2004, has grown into a robust team of over 80 professionals across six office locations servicing clients from over 30 states nationwide.

Equity markets have experienced a strong first half for 2024. Despite some sticky inflation readings in the first quarter, inflation has continued to moderate while economic activity remains resilient. Stocks have responded positively to the growing likelihood of interest rate cuts by the Fed as a soft landing for the economy has become the consensus view. 

The wealth management landscape is as diverse and dynamic as the clients it serves. From traditional wire houses and investment banks to the rise of independent Registered Investment Advisors (RIAs) and Multi-Family Offices (MFOs), the choices for managing one's wealth have greatly increased. Each avenue comes with its own set of advantages and nuances, that are best suited to a particular clientele.

The economy has delivered seven quarters of sustained expansion since the second half of 2022, and it looks like the trend will extend through the remainder of the year, despite the continued headwinds of sticky inflation and high interest rates. GDP growth forecasts have actually increased, and commensurately, recession fears have fallen, with most economists now considering a recession unlikely to occur this year.

As the clock ticks closer to midnight on December 31, 2025, a significant change is lurking for estate and gift tax exemptions in the United States. The current lifetime exemption threshold, which stands at historic highs, is set to be cut in half, potentially leading to a substantial increase in the tax liability of certain estates.

The first quarter of 2024 saw a continuation of the strong market momentum experienced towards the end of 2023, as the soft-landing narrative retains its place as the consensus view.

Amidst the ever-changing landscape of the wealth management industry, Simon Quick Advisors continues to stand out from the pack. The firm was recently listed on WealthManagement.com's RIA Edge 100, which showcases firms that prioritize client experience and sustainable business practices.

We’ve come a long way from peak inflation of 9% and $120 per barrel of oil in 2022, down to about 3% and $80, respectively, here in early 2024. It required a dramatic 5.5% interest rate hiking program and a few bank failures, but the Fed has made substantial strides in driving disinflation (slowing inflation). The job is not done, as the long-term target is 2%, however, we’re heading in the right direction. What’s been most impressive has been the resilience of the economy, as GDP steadily expanded over the course of 2023, despite a restrictive monetary policy and reduced lending and capital markets activity.