LIFESTYLE DRIVEN ADVICE
OCTOBER 2023

Hello,

 

October kicks off the fourth quarter as we begin to wrap up the year. A number of items get underway this time of year – Social Security adjustment announcement (3.2%), corporate earnings cycle – yet, it’s not the only thing on the minds of investors. The current set of geopolitical events and conflicts has many investors concerned about how the market will react in the short term and beyond.  Curtis Congdon CFP®, CRPC® , President of XML Financial Group, shares his perspective in this   short video  on market recovery after turbulent times and shows how markets historically have not derailed from major geopolitical events.

 

Also in the fourth quarter is the holiday season, typically a higher-spending time for the American consumer. Yet, Americans are feeling the effects of an inflation rate that, while cooled off slightly, remains uncomfortably high. Over 90% of U.S. adults said in a recent survey that they’ve reduced their spending this year, and over 75% said that they plan to   cut back on spending  for nonessential items. Reflecting on your spending habits and plan, particularly for the holiday season, can be an impactful way to influence your own household finances for the better.

 

As corporate earnings season gets rolling this quarter, it will be interesting to see how and to what extent companies focus on artificial intelligence in their earnings calls – a trend noted earlier this year. A common question getting attention in regards to A.I. has to do with job displacement. With the rise of generative A.I., white-collar workers may be next to see some of their job functions automated with technology. A recent study found that nearly one in five American jobs have “high exposure” to A.I. . Experts believe that while technology may cause some job displacement in the short term, more jobs are likely to be created in the years following as cost reductions are passed down to the consumer and help stimulate the economy.

 

Speaking of trends, the commercial real estate market has seen changes to their investing landscape in recent years. While commercial real estate investments have historically been considered out of reach for most retail investors, Real Estate Investment Trusts (REITs) are changing the game by offering increased liquidity and lower investment thresholds. On  Thursday, November 16 at 11AM ET , XML Associate Wealth Advisor, Caleb Long , will be hosting a discussion with Evan Serton, Portfolio Specialist and Senior Vice President with Cohen &Steers on the commercial real estate market. We invite you to register for the webinar  to learn more about real estate opportunities.

 

As always, if you have any questions about the information shared in the newsletter, please don’t hesitate to get in touch.

 

Best,

Brett

 

Brett Shane Bernstein, CFP ^®
CEO and Co-founder   

XML Financial Group
www.XMLFG.com  
(O) 301.770.5234 x 2030

Upcoming Webinar: Outlook for Commercial Real Estate

 

Real estate can hold several beneficial investment characteristics for diversified portfolios. While historically, real estate investors have had to grapple with some of the challenges that arise from the capital-intensive and illiquid process of investing in properties directly, that’s changing thanks to the growth in popularity of Real Estate Investment Trusts (REITs). Join XML Associate Wealth Advisor, Caleb Long , on Thursday, November 16, 2023 at 11AM ET for a discussion with Evan Serton, Portfolio Specialist and Senior Vice President with Cohen &Steers, a leading global investment manager specializing in real assets.

Blogs

Continued Financial Stress May Slow Holiday Spending

 

 

In a recent CNBC survey, U.S. consumers have cut back on spending this year, and they plan to continue to do so through the holidays. The survey showed that 92% of adults have reduced their spending over the past six months and it likely means that less spending will be dedicated for the holiday season.

 

 

Is A.I. On A Collision Course With White-Collar, High-Paid Jobs?

 

In a recent study, it was found that 19% of U.S. workers are in jobs with high exposure (both positive and negative) to AI. The high exposure group includes jobs like budget analysts, tax preparers, technical writers, and web developers. They often require more analytical skills and AI may therefore replace or assist their “most important” job functions.

 

XML Team News

Forbes | SHOOK Top RIA Firms

XML is excited to share the firm has been named to the second annual Forbes | SHOOK Research Top RIA list of the top 250 firms in the nation. “We’re very glad to have been included once again in this prestigious national ranking,” said XML CEO and Co-founder, Brett Bernstein CFP® .

 

Data as of March 31, 2023. Coverage period is 2022. America’s Top Registered Investment Advisor Firms ranking was developed by SHOOK Research and is based on data submitted by the participant, in-person, virtual or telephone due diligence meetings and a ranking algorithm that includes: a measure of best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerance vary, and advisors rarely have audited performance reports. Neither SHOOK nor Forbes receive compensation from XML in exchange for its Registered Investment Advisor Firm placements or rankings, which are determined independently. Participation in this directory is limited to ranked firms; once placed on a ranking, firms may choose to pay fees to Forbes and Shook for premium listing features as indicated by highlighted names. XML paid no such fees. SHOOK’s research and rankings provide opinions intended to help investors choose the right financial advisor or firm and not indicative of future performance or representative of any one client’s experience. Investors must carefully choose the right advisor or firm for their own situation and perform their own due diligence. For more information, please see here . SHOOK is a registered trademark of SHOOK Research, LLC.

Supporting a Great Cause

Recently, XML Marketing Director, Pete Deoudes , and XML Associate Wealth Advisor, Caleb Long , took part in a Breast Cancer Walk. October is Breast Cancer Awareness month and to find out more information about how you can support this worthy cause, please visit the National Breast Cancer Foundation website .

XML Sponsors ALX Pink Gala

With the help of sponsors like XML, the inaugural ALX Pink Gala crushed its fundraising goals by over 20%! This will directly provide over 200 mammograms, 50 biopsies, and 35 ultrasounds for local patients in need of these life-saving services. To find out more or to donate, please visit https://www.alxpinkgala.org/

News Features

Struggling with savings while juggling financial priorities? "The best habit is to systematically increase the percentage of your income that you save… [This] will produce a lifetime of wealth accumulation, which creates far more opportunities for your future," says XML President, Curtis Congdon CFP®, CRPC® . Recently, he shared his thoughts with GOBankingRates about how young adults can establish impactful savings habits to achieve financial success.

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.

 

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