PTE 2020-02

A Summary of PTE 2020-02

Our Chief Compliance Officer has put together a summary of the fiduciary advice exemption PTE 2020-02 for our own Wealth Managers. PTE 2020-02 provides an exemption from the prohibited transaction rules for investment advisor fiduciaries with respect to employee benefit plans and individual retirement accounts (IRAs).  Please consult your compliance consultant for more information.  Background:…

From the Desk of the CIO

A few predictions for 2022 Richard Barrett, Chief Investment Officer | December 31, 2021 “The art of prophecy is very difficult, especially about the future.”   — Mark Twain I have four predictions for 2022 – here goes: The Fed is going to raise interest rates.  Maybe the most meaningless prediction in the history of prediction…

From the Desk of the CIO

Data takes no holiday Richard Barrett, Chief Investment Officer | November 25, 2021 As mankind has embarked on something never undertaken before (i.e., the grand re-opening of the global economy), inflation seems to be everywhere.  Housing prices, energy prices, food prices all higher-er.  Too much money chasing too few available goods.  The history books will…

Making a Case For Outsourcing

A lot has been written about the changes that COVID has brought to many aspects of our lives—from work, communication and education.  One longstanding business trend accelerated during COVID: outsourcing as a means of improving productivity and customer access. The same could be said about financial advisors use of third-party outsourcing. There has been a…

From the Desk of the CIO

US corporations are sitting on a gigantic PILE of cash September 29, 2021 Despite what the beautiful lyrics might say, it’s money and not love that makes the world go ‘round.  Cash drives everything: investment, hiring, capital expenditure, stock buybacks, dividends, M&A activity etc. etc. etc.  It’s all about cash, who’s got it and how are…

From the Desk of the CIO

Friday is ‘non-farm’ Labor Day September 2, 2021 All eyes on Friday’s non-farm payroll report.  Expectations are for a +725k gain, but yesterday’s anemic ADP private payroll data of just +350k private job additions for August could possibly be setting the market up for a disappointment. Here’s a classic example of when “bad” is “good”…

New Market Cycle

We are now nearly seventeen months into a global pandemic battle, a battle no one foresaw.  The history books will ultimately have the final say on this crisis, along with a better perspective on its ultimate social and financial costs.  Thankfully we are much closer to this episode being over and hope that everyone’s family…

succession success

Our Own Succession Success

Throughout our past blogs, there is a consistent and recurring theme when we talk about succession planning—time—which is where our own succession story begins. Pinnacle Advisory Group’s three founding partners began planning for the firm’s succession and their own exit about ten years ago. The initial driver for starting the process of succession planning was…