Happy New Year! 2023 was an exciting year for us. We celebrated our 50th year in business, made the decision to team up with a new RIA out of the Atlanta area (keep reading to find out more), and many of the stock market “experts” were wrong……again!
Many of the “experts” predicted 2022 to be a great year for stocks…..WRONG. The same “experts” made the following predictions for 2023. JP Morgan predicted the S&P 500 would end 2023 at 4,200. Bank of America predicted 4,000. UBS predicted 3,900. Morgan Stanley also predicted 3,900. All wrong! The S&P closed 2023 at 4,769.
Our strong conviction and the bedrock principles we continue to stand on:
- The economy cannot be consistently forecast, nor the market consistently timed. The most successful investors are those that remain invested all the time.
- All successful long-term investing is goal-focused and planning driven. Investing must always be driven by the plan, and never by current events.
- We are long-term owners of great businesses, as opposed to speculators on the near-term trend of stock prices.
What does 2024 hold? While the capital markets have recovered significantly, speculation now centers on when and how much the Fed may lower interest rates in 2024. Inflation has come down, though not yet close to the fed’s 2% target. Prices for most goods and nearly all services remain elevated, straining all of our monthly budgets. Kellie does most of our grocery shopping and comments almost weekly at the food prices trying to feed our 4 boys. Despite this, economic activity just about everywhere but in the housing sector has remained relatively robust.
My overall recommendations to you are essentially what they were a year ago at this time, and what they’ve always been. If your goals haven’t changed, I recommend staying with our current plan. If our plan isn’t changing, there will likely be no compelling reason to materially alter your portfolio. As always, I welcome your questions and comments.
It is a privilege to serve you. Thank you for being our clients.
Sincerely,
Bain Nickels, CFP®,CKA®
As you know, we currently provide advisory services to you through our RIA, Householder Group. We have decided to make a change and will be providing the same advisory service through Integrated Financial Group (IFG) beginning on or around 4/1/2024.
Being selected to be a part of IFG is an honor. The hallmark of IFG is The Brain Trust, a unique culture fostering shared wisdom, collaboration, and joint growth. IFG strives to construct some of the brightest and most experienced financial advisors in our profession.
We feel this will benefit our clients by adding ideas and innovation that comes with being associated with such a dynamic group.
This transition will not cause any interruptions in the services you receive. Your relationship with Nickels Wealth Management and LPL Financial remains the same. There will be no changes to your accounts or account numbers. This transition will mean that we will need to get new advisory agreements in place. To that end, you will be receiving an email with forms that will require a few electronic signatures.
We are excited about this move and look forward to discussing with you. Do not hesitate to reach out with any questions.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Householder Group Estate and Retirement Specialist, LLC DBA. L.H. Nickels Wealth Management, a registered investment advisor. Householder Group Estate and Retirement Specialist, LLC and L.H. Nickels Wealth Management are separate entities from LPL Financial.
