D3 Financial Counselors Update:
Don and Peter presented Advanced Financial Planning Strategies at the American College of Surgeons National convention in New Orleans two weeks ago. After a lengthy interview process, D3 was selected to conduct this seminar because of the depth of our experience, and our philosophy of striving to educate our clients as to which planning strategies are best for them. The surgeons were mostly interested in how to maximize their tax-deferred retirement plan contributions, and other tax avoidance strategies. We really enjoyed New Orleans and look forward to presenting to another group of surgeons at next year’s convention.
Our annual Client Appreciation Dinner will be held on Friday, November 16, at Finley’s Grill Room. The date is different than we originally proposed in our previous newsletter, due to the availability of their party room. We’ve included a formal invitation that has all the details. Please RSVP by either calling the office, or sending an e-mail to Nancy Lencioni at Nancy@D3FinancialCounselors.com. You can also send us your RSVP. We need to know who is coming by Thursday, November 1.
We’ve included your invoice for the quarterly investment management fees. 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:
Both the stock and the bond markets have been very choppy since Federal Reserve lowered short-term interest rates by 50 basis points on September 18. We believe the direction of the stock market between now and year end will be determined by what corporation’s say when they make their third quarter earnings announcements. Stock prices are being supported by the conviction that economic growth outside the U.S. will remain strong, and that the weaker dollar will stimulate further growth in exports.
Meanwhile, gloomy bond investors remain focused on the continuing bad news from the housing market, with everyone agreeing that the housing crisis will last well into 2008, and possibly 2009. As we have said before, the risk of a recession is directly related to how much consumers pull back their spending.
At D3, we continue to monitor the economic landscape, looking for conviction. Our greatest conviction is that interest rates will decline further so we continue to rebalance accounts and move funds out of money market funds.
As always, thank you for your business, and please continue to think of us when someone you know needs 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®