D3 Business Update:
Tax preparation is over! This year was better than last, but not without kinks. We look to improve the process every year so if you have suggestions, please let us know.
We sent you our “Bring Spring” invitation at the world renowned Morton Arboretum in Lisle on Saturday, May 14th, 2011. Please let us know if you will be attending with guests.
May 1st, we will be starting to update the financial plans for all of our family office service clients. Attached is a questionnaire to fill out so that we are aware of any major changes in your lives that could affect your financial plan. We have included the most recent budget you provided us and a net worth statement from our planning system. Please update this information, fill out the questionnaire and send them back to us with any changes. Updating your financial plan is an extremely important endeavor. We will be able to advise you on how much risk you may “not have to take” with your investments. For our non-family office service clients, if you want us to update your financial plan, please give Don a call.
D3 Investment Outlook:
The investment outlook continues to look constructive for the equity markets; particularly the U.S. equity market. This is primarily because inflation is a concern for the Emerging Markets, sovereign debt is a concern for the European Markets and the U.S. structural deficit problems are too far in the future for most traders to worry about. Due to low interest rates, money market funds pay nothing. Because of the fear of rising interest rates, bonds are not an attractive place to be; so by default, the U.S. equity market is the place to be. As long as the U.S. economy and corporate earnings continue to grow, and no major shocks occur (oil prices could be a wild card) the bull market has a good chance of continuing to run; although, we will likely see some daily volatility based on corporate earnings announcements.
D3 Investment Insight and Strategy :
We have finished rebalancing all portfolios. The net effect was to pare back slightly, overall portfolio risk. We are now in the process of replacing some under performing mutual funds. Our trades over the next quarter will focus on this strategy.
We have included your invoice for the 2nd quarter of 2011. If you are family office service client or if you want your financial plan updated; please return our questionnaire. As always thank you for your confidence in D3 Financial Counselors.
Donald D. Duncan MBA CFA™ CPA CFP® Adam Glassberg, Financial Planner
Michael Meyers MBA CFP® Patty Shipinski, Office Manager
Neil Lefort MBA J.D. CPA