A Word From Bob, May 2017

I hope this note finds you and your family well! With April in the books, I can officially proclaim that tax season is over and our broker-dealer transition has largely been completed. We still have more administrative work to complete, but account summaries and performance reporting are starting to come together.

As we move forward into the 2nd Quarter, clients can expect our service level to be commensurate with what you have experienced in the past. The last year has been difficult for all of us, and we sincerely appreciate your patience and loyalty!

Financial markets are seemingly fixated on political decisions and elections around the world. Elections in Europe, the rise of a dictatorship in Turkey, and constant media attention on the White House and the U.S. Congress, dominates the financial media landscape. Sometimes it is difficult to cut through all of the noise, and focus on investment fundamentals, but ultimately that is the pathway toward successful investment outcomes for long-term investors.

During the transition, we spent a great deal of time focusing on our clients’ risk-tolerance and investment objectives to make sure investment strategies fit with future plans and objectives. We are always striving to provide our clients with portfolio returns in-line with their unique risk profile, low correlation through the use of alternative investments, and portfolios that are built around client goals and performance expectations. This is a constantly evolving process, as our lives change during our working years and into retirement, thus portfolio construction must evolve as well.

The stock market performance last year and thus far in 2017 has been solid for patient, long-term investors. The monthly and year-to-date performance of key domestic stock market indices are shown below:

Presently stock market valuations are stretched from a historical perspective, but at this point leading indicators are still moderately constructive. The real question is going to be whether Congress can put together a solid healthcare and tax plan that benefits businesses and the middle class. If Congress pulls it off, it could create further upside for equity markets in the future.

In closing, I wanted to remind readers that our biggest event for our special cause for the children on Timmy’s Mountain is rapidly approaching. The 15th Annual Timmy’s Mountain Just Because We Care Golf Tournament will be held on Monday, June 19th at Lake Forest Golf Course in Lake St. Louis. To schedule a team for golf, or to support our cause by attending the dinner and auction after the golf tournament, please contact our office at 636-573-1212. The children certainly appreciate your support and assistance! With the summer only a few weeks ahead, please remember to stay healthy, wealthy, and wise, and certainly . . . stay tuned.

Bob