D3 Financial Counselors Update:
Now that the second quarter has just ended, we’re working on the investment performance reports for our Advanced and Comprehensive clients, which we plan to discuss with you in person during August or September. We’ll be calling to schedule meetings with you over the next couple of weeks.
Don was featured in an article on retirement planning in The New York Times on Sunday, June 16. When we saw the article, we were pleasantly surprised to see Don’s photo, taken in our offices, at the top of the story! We have included the first page. For a full copy send us an e-mail, and we’ll send it to you.
Now that Peter Marchese has worked at D3 for a couple of months, and has been talking with his family and friends about his new work, he’s discovering that many people know very little about financial planning, and are eager to learn about it. If you have friends and family who would benefit from a one-evening, educational only, seminar on financial planning, let us know. We’d be happy to provide this type of seminar as well as refreshments for you and your friends.
Lastly, Dennis Gravitt has decided to leave D3, to establish his own firm in the far south suburbs. We wish Dennis the best in his new endeavor, and thank him for the fine work he did here at D3.
We have included your third quarter invoice. As usual, if we have standing instructions from you, we will deduct the fee from your account. If not, please either write us a check or return the invoice telling us to deduct the fee.
Things You Should Know:
The stock market continues to rise almost every day, and every index that we track is at an historical high, as of this writing. Strong economic growth throughout the world, coupled with strong stock buying momentum here at home, are pushing prices higher. We are analyzing whether fundamentals or momentum are responsible for the movement. Companies’ forecasts for future earnings will help us determine this. The problems in the sub-prime mortgage market are spreading to other sectors of the bond market, increasing the borrowing costs for both consumers and corporations. Energy and food prices continue to rise. Historically, this combination of events does not support rising stock prices.
Last month, we wrote that we were reducing clients’ investments in corporate bonds, because of our concerns regarding the pervasiveness of the sub-prime mortgage crisis. With this crisis spreading, our clients benefited from this portfolio action.
As always, thank you for your business and think of us when your friends or relatives need to
“understand the economic consequences of their financial decisions”.
Donald D. Duncan MBA CPA/PFS CFA™ CFP® Nancy Lencioni & Becky Connery
Peter Marchese MBA CFA™ Michael Meyers MBA CFP®