02/21/2019
HB’s Michael Landsberg sat down with Financial Advisor Magazine and ThinkAdvisor to discuss retirement planning stress points. Read both articles below.
by Homrich Berg
02/21/2019
HB’s Michael Landsberg sat down with Financial Advisor Magazine and ThinkAdvisor to discuss retirement planning stress points. Read both articles below.
by Homrich Berg
02/14/2019
Keeping up with computer security can be a daunting and overwhelming task. My goal in this post is to outline five things I think are essential in order to keep your digital life secure.
1. Configure all of your computers to automatically download and install operating system updates.
The steps for setting up automatic updates vary slightly based on your computer system (e.g. Windows 7, Window 10, Mac OS, etc.). Fortunately, you can Google how to enable automatic updates for your specific system. For example, here are two links with instructions on how to enable automatic updates for Windows 10 and Mac OS.
2. Install antivirus software.
Windows 10 comes pre-loaded with Windows Defender, Microsoft’s built-in antivirus program that works really well. I recommend Sophos Antivirus for Mac. Sophos continues to be recognized as one of the best antivirus solutions for Macs.
3. TREAT ALL EMAILS YOU RECEIVE AS A PHISHING EMAIL until you can verify its authenticity.
A phishing email is an email sent by a fraudster/hacker that appears to come from a legitimate company (e.g. your financial institution) asking you to provide sensitive information (e.g. your username or password) or asking you to click on a malicious link or attachment with the goal of stealing your financial assets. It’s estimated that 75-85% of all cyber attacks start by getting the victim to perform an action in a phishing email. Use these steps to verify each email you receive:
4. Turn on two-factor authentication on all online services that support it.
Two-factor authentication requires you to enter a code or approve the connection from an app after you have entered your username and password. This is the best way to safeguard your online access because it prevents a fraudster/hacker from accessing your account with merely your username and password. Contact your online service provider for help setting up two-factor authentication.
5. Monitor your Phone Calls/Text/Social Media.
Fraudsters are also using these avenues to trick people into providing sensitive information. Be careful about what information you provide through these services.
Remember, if you suspect that your account has been hacked, change your password immediately and contact the service provider.
by Homrich Berg
02/08/2019
ATLANTA – February 8, 2019 – Homrich Berg is pleased to announce the appointment of Philip H. Clinkscales III, CPA, CFA, CAIA, CGMA, CFP®, PFS as a new director for the firm. “Philip has extensive financial planning expertise and will be an invaluable asset to HB,” said Andy Berg, co-founder and CEO of Homrich Berg. “My partners and I are proud to welcome him to HB.”
Philip received dual bachelor degrees in Business (Real Estate) and Landscape Architecture from the University of Georgia and holds a master’s in Public Accountancy from Georgia State University. He joins Homrich Berg after co-founding an independent financial planning firm in 2013 where he served his clients in the areas of individual tax, estate, investment, and retirement planning. Prior experience also includes 11 years in wealth management with PPA Investments, Inc., and serving as an Executive Director at SoundRiver Advisors. Philip is actively involved in the Georgia golf community serving as Secretary-Treasurer and Member of the Executive Committee of the Georgia State Golf Association. He is also a Trustee and Scholarship Committee Chairman of the affiliated GSGA Foundation, an organization that provides educational opportunities through the Yates & Moncrief scholarship program.
by Homrich Berg
By: Ross Bramwell
02/05/2019
Going back over the last 93 years the average return of the S&P 500 has been 11.9%. However, the annual total return has only ever fallen inside of a range of +/- 2% of the average (10-14%) eight times. With the Fed still trying to “normalize” interest rates, ongoing trade tensions between the U.S. and China, and the 2020 Presidential Election already appearing to ramp up, we believe it’s important for investors to remember that there will always be bumps along the road of investing. We believe the best path along that road is to create and follow a financial plan that can allow investors to keep perspective during those inevitable bumps, and to take advantage of opportunities as they present themselves over time.
*The S&P index returns start in 1926 when the index was first composed of 90 companies. The name of the index at that time was the Composite Index or S&P 90. In 1957 the index expanded to include the 500 components we now have today. The returns include both price returns and re-invested dividends. Data as of December 31, 2018.
Past performance is not a guarantee or indicator of future results. Inherent in any investment is the potential for loss. This commentary is for informational purposes only and should not be considered legal, tax, accounting or investment advice. Views and opinions expressed herein are as of the date posted unless indicated otherwise, with no obligation to update. Certain of the information herein has been obtained from third party sources believed to be reliable, but has not been independently verified. Discussions pertaining to potential future events and their impact on the markets are based on current expectations and analysis. Actual results may vary.
by Homrich Berg
01/29/2019
Our CIO Stephanie Lang appeared on CNBC‘s Squawk Box this morning where she discussed the broader markets.
by Homrich Berg
By: Tana Gildea
01/18/2019
We all know that identity theft is a problem; we (hopefully) all know to check our credit frequently or to have a credit monitoring service, and we know to guard and protect our social security number and account information. What we frequently don’t think about is minding our children’s credit. More and more thieves look for kids’ information since they know it may be years before the theft is discovered.
According to a Wall Street Journal article in August, 2018, New on Parents’ To-Do List: Checking Children’s Credit History, “One credit reporting company, Experian” estimates such identity theft will affect one in four children before they become an adult.” Wow! 25% of kids—that is eye-opening!
Fortunately, a new law went into effect in September to make it easier for parents to access and freeze their kids’ credit. The law, part of broader banking legislation, also allows adults unlimited, free credit freezes. Yes, freezing your credit can be a hassle if you know you will need credit for a car or home purchase, for example, and it does cut off those awesome, “save 10% when you open an account today” offers at the store, but for kids, it needs to move to the “must do” part of the to-do list!
The Federal Trade Commission has great information at https://www.consumer.ftc.gov/articles/0040-child-identity-theft including “warning signs,” “check for a credit report,” and “repair the damage.” The page offers links to the credit bureaus and the steps to place a credit freeze. Yes, you’ll need to set aside a bit of time to work through all of the steps, but it will be much less painful than if you find out about an issue at a time when your child needs to start using their credit!
And, speaking of using their credit, when is the right time to help your child establish credit? Sooner is probably better once they turn 18, but you want to do it an a way that helps them build a good score. For my kids, their teen checking accounts helped them create a good score as they were careful about not over-drawing, and we set up a fail-safe to cover any “oops” events. A WSJ article in August, 2018, How College Students Can Build a Good Credit Rating, suggests:
Regardless of how your kids finally do establish credit, teach them the importance of monitoring and protecting their credit — there’s an app for that!
by Homrich Berg
01/07/2019
Our CIO Stephanie Lang appeared on CNBC’s Squawk Box this morning where she talked about where the markets are heading.
Click Here to See Full Interview
by Homrich Berg
Our CIO Stephanie Lang appeared on CNBC’s Squawk Box this morning where she talked about the Fed’s ability to steer the economy.
Click Here to See Full Interview
by Homrich Berg
HB’s Mike Landsberg sat down with U.S. News and World Report and MarketWatch to talk about financial tasks you can complete before the New Year. Read both articles here:
by Homrich Berg
By: Ross Bramwell
The topic of a yield curve inversion has been at the forefront of financial news this week and we wanted to share our thoughts. As highlighted in our October e-mail to clients, we have seen significant volatility in both stocks and bonds over the course of the past several months. This has been driven by a variety of factors including the U.S./China trade war, signs of economic slowdown in some foreign countries, and even some leading signs of a potential slowdown here in the U.S. As a result, we have seen the Fed indicate an unexpected change in course recently when Fed Chairman Powell suggested that we are “near neutral interest rates.” This would be a dramatic shift from previous comments that suggested the Fed was planning on raising interest rates several times between now and the end of 2019.
Following the recent statements, the upward trend in longer-term interest rates reversed, and we have seen a significant decline in the 10-year Treasury rate. This week many news outlets are covering the fact that a few points on the yield curve have “inverted.”
Typically, long-term rates are higher than short-term rates because the market expects future economic growth. The yield curve has inverted when shorter-term rates are actually higher than longer-term rates, meaning a slowdown is expected. A yield curve inversion is often seen as a sign of a pending recession, so it stands to reason that the media would make the most of a headline when we have our first yield curve inversion since the financial crisis.
However, we want to point out a few key things to remember about a yield curve inversion as this phenomenon will probably continue to make headlines through 2019:
• The part of the yield curve that is currently inverted is the area between the 2- and 3-year Treasuries with the 5-year Treasury, as the 5-year Treasury is now yielding slightly lower than the 2- and 3-year Treasuries (see chart above).
• An inverted yield curve is an often watched recession indicator, but the most common indicator on the yield curve is the 2-year Treasury yield with the 10-year Treasury yield, which is currently not inverted.
• Prior recessions have been preceded by an inversion of the 2-year and 10-year Treasury yields, but the recession has been on average 18-24 months after the inversion occurred (see the chart below).
There have been false positives as well with inversions at certain points of the yield curve so it is not a perfect indicator. We will continue to monitor the underlying economic data. While the current changes are definitely worth noting, we do not believe it should create any knee-jerk reactions in our investment allocations as we do not see the current inversion as a sign of a pending recession.
If you have any further questions please reach out to a member of your service team.
Disclosures: The following includes our opinions and forward looking thoughts and analysis as of December 4, 2018 and are not a guarantee of future investment results. This presentation includes third party sources which we believe are reliable but have not been independently verified. This is not an offer to buy or sell securities and is for informational purposes only.
by Homrich Berg
Yesterday a couple of HBers volunteered at Christmas Kindness to help parents choose new coats, appliances, and toys for their family.
by Homrich Berg