BVB Group – UASD – Investment Account Updates
To say the first quarter of 2023 has been a roller coaster for investors, may be an understatement. The S&P 500 was up 7.5% through March 31st, the Fed continues to tighten (increase rates), inflation seems to have peaked, and treasury yields have fallen. During all of this, we continue to evaluate our portfolios, assessing potential changes based on where we believe the market is headed while being cognizant of tax ramifications. Last October we made a shift to value from growth and increased our return on cash by utilizing a money market fund. This fund is currently yielding 4.68%, up from the 2.77% yield when it was first introduced to the portfolio.
Following our first quarter review of the portfolios the changes we made have resulted in a slight underperformance of our benchmark through the 1Q, however given the risks we still feel confident of taking a moderately more conservative allocation. Therefore, we are currently maintaining our allocation as sometimes the best course of action is to take no action at all.
Many of you heard from us throughout 2022 recommending that we harvest tax losses to make the most of a down market. However, for those of you with IRAs, this isn’t an option. Please know we continue to monitor the portfolios closely and we will always reach out with any recommendations, but you should also not hesitate to reach out to us with questions or concerns.
Here is a reminder of allocations of our core portfolios:
Capital Growth
Growth with Income
Income with Growth
Your “Cash” at Baird – Intro to a Cash Sweep Program
In light of the recent bank failures at the Silicon Valley Bank (SVB) we have received a number of inquiries around how Baird’s cash accounts work. Baird participates in a cash sweep program, which is common in the brokerage industry, where we can hold up to $1.25 million for most account types ($2.5 million for joint accounts with two or more owners) and provide an aggregate FDIC insurance protection.
Baird has a relationship with over 14 banks that allow us to multiple banking relationships under one Baird account.
Please check out the link below to see more about the participating banks, coverage limits and current interest rates.
https://www.rwbaird.com/cashsweeps/
Thank you for trusting our Team and Process
We are pleased to announce that Curt Brewer, JD, CFP® and Rick Verthein, CFP®, CPWA® are being recognized by FORBES as Best in State Wealth Advisors.
Curt and Rick are members of The BVB Group, along with Ashley Brown, CFP®, CDFA®, Jennifer Ewert, Rachel Lazewski and Jacqueline Barker. The team focuses on improving the lives of their clients and their families by providing attentive financial service and customer care.
Curt and Rick’s commitment to Baird's client-first philosophy, teamwork and service has earned this best-in-class recognition. Please join us in congratulating Curt and Rick and the entire team on this tremendous achievement.
https://www.forbes.com/lists/best-in-state-wealth-advisors/
Welcome Jaci!
We are also pleased to announce the Jacqueline Barker has joined the BVB Group as our new Client Specialist. Baird has always believed in the power of teamwork and diverse perspectives to best address clients’ evolving needs. To expand and enhance this invaluable support network, as a continued commitment to provide you and your family with the best possible financial guidance.
We are confident her skills and perspectives will help strengthen and deepen our existing client relationship and result in an even greater level of advice and service excellent for you in the future.
We encourage you to learn more about Jaci by visiting: https://bvbgroup.bairdwealth.com/team/jacqueline-barker
Baird Wealth Strategies – Monthly Webinars
Did you know that Baird hosts monthly webinars on a variety of topics, such as market volatility, tax planning topics, insurance and using Baird’s tools?
We call these our Wealth Strategies and they can be found here:
https://www.bairdwealth.com/insights/wealth-strategies/
All Webinars are recorded for later viewing and in order to keep your inboxes clean we will only send invites to those topics we think are timely and relevant. Be sure to check out the past Webinars.
2023 Forbes "Best-in-State Wealth Advisors" award was published on April 4, 2023. Rankings based on data as of June 30, 2022