Perpetually Looking Forward

After months of innuendo and data dependency, the Federal Reserve is ready to start lowering interest rates this month. In his speech at the Jackson Hole Economic Symposium, a high-profile annual gathering for central bankers and economists, Chairman Powell was clear that inflation has eased and the labor market has cooled enough, such that “The upside risks to inflation have diminished. And the downside risks to employment have increased…

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.