Many are nervous, curious, and even excited for the potential impact of the Trump administration on their portfolios and the economy. In this Hot Topic Webinar, Stephen Kolano of BNY Mellon Wealth Management led a discussion on some of the major events and highlights that set the stage for 2017, plus the key catalysts to watch for in the coming year. In addition, he dove into the policy and geopolitical issues affecting our industry, both domestically and globally, as well as investment implications and areas to consider regarding portfolio positioning.
Investment Management
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Investment Themes for 2017
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Heading into 2017, the top five investment themes center around prolonged expansion, inflation rising, a new upward interest rate bias, going from global to local, and stock pickers being back in style. With all the dire headlines, it’s easy to forget that we are in the midst of the fourth longest expansion on record. Looming risks exist, namely the prospect of trade wars, rising debt and deficit and other geopolitical threats, but broadly speaking, this expansion environment is positive for equities and other risk assets.
Defining the Terms of Purpose-Built Philanthropy
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As high-net-worth investors discuss plans for charitable giving and investing with their financial advisors, it is absolutely crucial for them to be on the same page in terms of the outcomes desired, both financially and philanthropically. For this reason, advisors and their clients need a set vocabulary of terms going into the first meeting. Only then can they discuss goals (and ways of achieving them) without stumbling over communication roadblocks.
Capital Perspectives, December 2016
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History has typically played out such that the president and at least one of the houses of Congress are of different political parties. President-elect Trump, however, will benefit from a “unified government,” which has been an important driver of overall post-election market reactions. With a clean political party sweep, much of what Trump campaigned on will at the very least make it to the bargaining table. What will be the likely impact of a Trump administration on current regulations and legislation, and the potential implications for capital markets?
Investment Policy Statements
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Everyone agrees that a written investment plan is a good idea, yet according to recent FOX surveys only 40% of families utilize a written plan. Why are investment policy statements (IPS) avoided by so many families? What are the component parts of an effective IPS? What does a traditional IPS look like versus a modern iteration? What can families do to make the documents integral to the investment process? What are the IPS best practices?
Family Communications & Interactions - How Can Technology Help the Modern Family Office?
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A Family Office is all about providing a tailored, bespoke experience to the family. How does a family office extend that into the digital world? Technology tools, when properly implemented, can provide the personalization needed to create a greater sensation of comfort and higher satisfaction for the family. The right offering can demonstrate the value-add a family office provides and add to the services the office can offer without increasing costs.
The nonconsensus outcome happened, and Donald Trump will become President. Investors should bear in mind that stock markets will eventually focus on the economic and earnings outlook over the next six-to-18 months, more than politics. We look at the near-term and long-term implications.
As of December 31, 2014 the KL Felicitas Foundation’s portfolio was 99.50% invested in impact investments. The KL Felicitas Foundation has come a long way since it decided to explore the process of an investment portfolio 100% oriented towards positive impact. The road to achieving such a portfolio of impact investments was not straightforward nor completed overnight. Rather, the process was one of twists and turns that was not always swift, but ultimately the process brought the Foundation to its final destination.
U.S. Election: What You Need to Know
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Defying the betting odds and pollster predictions, Donald Trump has pulled off an improbable victory. As an “unknown unknown,” Trump’s election introduces a level of policy uncertainty. Republicans hold the majority in Congress, but President-elect Trump will have to spend his early days building bridges to gain support for his agenda.
Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a centerpiece of his economic plans during his campaign, saying he would, among other things, propose lower and consolidated individual income tax rates, expand tax breaks for families, and repeal the Affordable Care Act. As the next few weeks and months unfold, taxpayers will learn more about Trump’s tax plans.