LIFESTYLE DRIVEN ADVICE
MAY 2024

That was quick!  After a fast 5% market correction from highs that we saw in March, we now have new all-time highs in the month of May. The Dow Jones Industrial Average, S&P 500, and Nasdaq all reached new highs in the month of May, with the DOW touching the historic 40,000 level! The new highs are certainly noteworthy and these market moves always have our attention, but we hope that our steady guidance as your wealth advisor is giving you more time to celebrate other milestones like graduations, new beginnings, and enjoying time with your family this summer. These are all highs that we love to see!  

We are grateful to be here for you when we have the chance to celebrate these highs, but we also want to assure you that we are prepared and always here for you under adverse market conditions too. Navigating market drawdowns, as we did in April, bolsters confidence and contributes to the potential long-term growth of your portfolio. While not all market movements have to make sense (see the re-emergence of the meme stocks) it is worth noting that the market is experiencing an unexpected and incongruous period of calmness.  Volatility has touched historic lows, earnings have been modestly positive, and economic growth has been resiliently steady.  

Now to highlight some recent news and XML updates below. We all know that the labor market is a crucial barometer on economic health. In this month’s XML Wealth Insights video, Curtis Congdon discusses the current state of the labor market and what we should know as it relates to the economy as a whole: The Unemployment Rate and Labor Market Report. Take a look at this 3-minute video for his thoughts and tune into his videos every week by following us on Facebook to see his weekly posted videos. 

Plus, read more below about foiling fraud resources, our May virtual event Leaving More Than Memories and how you can download materials that could assist you in your estate planning, and XML news including news on our new Virginia office opening this fall. 

As we take inventory of the new highs and prepare for what comes next, we know that just as swiftly as the market moves, the seasons change. Here's to embracing the arrival of summer!

Best,

XML Financial Group

XML Financial Group
www.xmlfg.com

XML Wealth Insights

In the most recent episode of Wealth Insights with XML President, Curtis Congdon, CFP®, CRPC®, shares his perspective on the current status of the labor market and what we can potentially expect as we head into the summer. Check out a new Weekly Wealth Insights video, Friday of every week and watch the latest by clicking the link below. 

In The News

Tech Support Scammers Ordered to Pay $26 Million

Two companies that targeted older adults with scare tactics have been ordered to pay a $26 million fine to compensate the victims. The scams, which used pop-up messages to trick consumers into thinking their computers were infected with viruses and buying unnecessary repair software, were the target of a Federal Trade Commission investigation.

XML strives to assist and offer resources that can help stop fraud. Check out the Foiling Fraud section of our XML Resources webpage for more information on ways to avoidant fraudulent schemes. 

XML Wealth Wisdom

Webinar Materials: Strategic Legacy Planning

On May 14,  Shawna Bieda (Senior Wealth Advisor) was joined by Cheri Brooks (Managing Director, Neuberger Berman) for a detailed discussion about how to leave more than just memories to your loved ones and the benefits of strategic legacy planning. On top of the what was discussed during the webinar, Neuberger Berman has graciously provided us with downloadable materials and the complementary booklet that you can request here. 

XML Team News

Community Cares in Action

Our volunteer event at our Alexandria office was a smashing success. We were able to prepare and pack 100 nutrient-rich lunches for food-impoverished teens at Alexandria City High School. This was a wonderful opportunity for our team to come together and make a meaningful impact in our community. Look out for more volunteer updates in the coming months as we strive to continue to give back in the communities we work and live in. 

New Virginia Office

We will soon have a new home office in Virginia! XML has secured office space at WillowWood Plaza II, 10306 Eaton Place, Suite 230 in Fairfax, Virginia. We expect construction on this new office space to begin shortly and we are optimistic that we can begin welcoming clients into this beautiful state-of-the-art space in September. Stay tuned for more information in the coming months! 

In The Media

XML Financial Group is excited to announce it has been named to the USA TODAY list of the Best Financial Advisory Firms for 2024, marking the second consecutive year of this recognition. “Being included on this list highlights our dedication to supporting every aspect of our client relationships and helping to simplify their finances so they can focus on what matters most,” said Brett Bernstein, CEO and Co-founder of XML. Congratulations to our dedicated team who have made this honor possible by helping our clients meet and exceed their financial goals. Read more about this honor here. 

XML did not apply for or pay a fee for consideration or inclusion on the USA Today list. The list was compiled by an independent research firm querying individuals. The full methodology for the Best Financial Advisory Firms of 2024 list can be found here. USA Today developed the list in tandem with independent market research and data firm Statista. More than 30,000 Registered Investment Advisor (RIA) firms were considered by Statista. The final list, recognizing the top 500 firms, was built on a robust evaluation framework centered around two key dimensions: recommendations by financial advisors, clients and industry experts, and a firm’s development of assets under management (AUM).

This communication is for information and educational purposes only. This is not a recommendation for the sale or investment in any product or strategy nor should it be perceived as individual advice. Information presented has been prepared from sources believed to be reliable but is not guaranteed and does not represent all available data necessary for making investment decisions. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. Forecasts do not consider the specific investment objectives, restrictions, tax and financial situation or other needs of an individual. Actual data will vary and may not be reflected here. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. The opinion expressed by this individual is based on facts and circumstances known at this time, is subject to change and does not reflect the opinions of all financial professionals of XML.