Merriman Wealth Management, LLC, an independent wealth management firm with over $2.5 billion in assets under management, is pleased to announce the promotion of Geoffrey Curran, CPA/ABV, CFA, CFP® to principal.
“Geoff’s contribution and dedication to Merriman and our clients has been invaluable as we seek to be the destination for clients and employees who are looking to Live Fully,” said Jeremy Burger, CFA, CFP®, CEO of Merriman. Merriman is proud to offer a path to partnership for those individuals who demonstrate through their contributions a strong commitment to improving the lives of our clients, helping the firm grow and giving back to their communities. With the addition of Geoff, Merriman now has 15 principals.
Geoffrey joined Merriman as a Wealth Advisor in January 2016 after spending three years at TD Ameritrade. Geoff graduated from the University of Tulsa and has earned three of the most distinguished credentials in the industry – CERTIFIED FINANCIAL PLANNERTM professional (CFP®), Certified Public Accountant (CPA), and Chartered Financial Analyst® charterholder (CFA). Geoff is an active member of the South Puget Sound community including serving on the investment committees for the Tacoma Employees’ Retirement System pension and the Greater Tacoma Community Foundation.
Our team at Merriman has been diligently following COVID-19 pandemic updates across the world and in our own communities.
We have also been hearing lots of questions from clients, prospects, friends, and family.
Can I still retire or stay retired? Am I still able to relocate as I had planned? Should I sell all of my stocks now? Should I go to cash? Should I use all the cash I have to buy in? Should I file for Social Security earlier than planned? How will I pay for a hospital stay if I need one?
If you are worried about some of these things too, I have good news.
We have partnered with America’s Retirement Forum (a nationwide non-profit dedicated to providing financial education to adults) to organize a webinar that can help.
Why trust me?
I am the Director of Advisory Services at Merriman Wealth Management and an instructor through America’s Retirement Forum. I have been helping people transition into and navigate retirement for over 20 years, and Merriman has been in the business of educating investors since our founding by Paul Merriman in 1983.
The short and long-term impacts of the COVID-19 pandemic on the economy
Why this recession may be different from what you have lived through before
5 specific steps designed to protect and maximize your retirement income in the middle of a pandemic (yes, you can implement them yourself)
6 strategies and issues to discuss with your advisor
In this time of worry, false information, and uncertainty, make the choice to spend some of your time learning about what you can do to retire well. And the best part is that you don’t have to put your health at risk or leave the house. All you need is 30 minutes and an internet connection to watch this free webinar.
Don’t delay: Some of the strategies discussed in the webinar are time-sensitive. I would hate for you to miss an opportunity or to take action without having all the facts. We want to help you avoid mistakes and take the proper steps toward securing your financial future.
Stay home, be well, and use this unprecedented time to get informed. Feel free to reach out with any questions.
Global equity markets have moved down sharply over the past couple of days. The immediate cause has been the spread of the coronavirus disease 2019 (COVD-19). Capital markets react in real time to aggregate predictions of the future and, on average, price in an overly pessimistic view compared to the ultimate outcome. Currently, there is growing fear of a large drop off in global business activity due to the spread of COVD-19 outside of China.
When we look at the most recent response of the S&P 500 to epidemics over the past 20 years, we see that the market generally has fallen sharply during outbreaks and then rebounded within 6 months. This response follows a pretty typical market pattern where there is overreaction due to uncertainty in the outcome and then a strong bounce back.
The more uncertain the scope of an event, the higher the volatility. The scope and impact of disease outbreaks on economic activity is incredibly difficult to predict. First, there is the uncertainty associated with how the disease will spread and how severely it will impact global citizens. COVD-19 is different than several of the most recent disease outbreaks (SARS, MERS, Zika Virus) in that most patients do not experience severe symptoms and recent data suggests that some people may be infected without showing any symptoms. These characteristics make the probability of a tragic outcome much less but also make it much more challenging to control the spread. Technology and communication have also advanced and are being leveraged to extents not previously possible. How these factors will influence the spread of disease is truly unknowable.
Even if we did know exactly who would be affected and how, the tie between the human cost and the economic cost is indirect at best. Government and business response will vary and may have profound or very little effect.
When there is a very limited data set, it is important not to jump to the conclusion that the past predicts the future. Just because markets have rebounded quickly in the past does not mark this as a buying opportunity. As discussed above, each epidemic is unique, and the ultimate impact is uncertain.
We are well into an economic expansion that is long, by historical standards. Bear markets typically have a trigger that is not necessarily the underlying cause, but more like the straw that breaks the camel’s back. The divide between the performance of US growth stocks and the rest of the global equity markets (US small and value stocks, international and emerging stocks) has reached levels not seen since the late 1990s. At some point, these large divergences have always closed. Whether a decade from now we will look back on COVD-19 as the triggering event for a major shift, no one knows.
Our investment approach, during market pullbacks and always, is to stay true to our disciplined rebalancing strategy. We don’t predict the future direction of the market or specifically buy or sell based on recent market movements. Rather, we consistently monitor your portfolio for under or overweight positions and execute trades to bring the portfolio back to target. Because of the continued relative outperformance of US growth stocks, many clients have reached the point where they are overweight in this asset class, which has resulted in sells in these positions and buys of underweight asset classes in the portfolio, typically bonds.
As the market has swooned, we have also been selling partial or full positions to capture unrealized losses which are used to offset taxable gains and reduce your overall tax bill. The cash generated from the sells is reinvested in a substitute position in the same asset class. Entering a substitute position maintains the target investment objective of the portfolio, keeping you positioned to achieve your long-term financial goals while locking in the tax savings.
We hope that through these times, you can find peace of mind in knowing that we are constantly monitoring your portfolio to ensure the best chance of success in achieving your goals. If you have any questions about activity in your portfolio, please don’t hesitate to reach out.
Merger Creates One of the largest Wealth Management Firms in the Northwest
SEATTLE (April 18, 2016) – MerrimanWealth Management, LLC today announced that Summit Capital Management, LLC, a Northwest-based boutique financial services firm, has merged with Merriman, a Focus Financial Partner firm. This merger makes Merriman one of the largest wealth management firms in the Pacific Northwest.
Summit Capital’s approach has been team-based investment research and management partnered with a client-centric service model. Dave Martin, Matt Rudolf, Rob Martin, and the staff and leadership team of Summit will continue to support their clients as part of the Merriman team.
“The leadership team at Summit Capital has created an amazing firm focused on exceptional client service and robust portfolio management. This merger allows us to extend Merriman’s comprehensive wealth management process to Summit’s clients, and make additional portfolio strategies available to the clients of both firms,” said Colleen Lindstrom, Merriman’s CEO.
Summit has been in conversations with Merriman and its parent firm, Focus Financial Partners, for the past year. With complementary strengths and a clear focus on the team approach to advising clients, it became clear this merger would be a great cultural match. Rob Martin, Managing Partner of Summit Capital commented, “This combination brings together two terrific firms with a similar, client-oriented approach, providing comprehensive investment management and wealth advisory services.”
This merger is part of Merriman’s overall regional growth strategy. Merriman will continue to maintain Summit Capital’s Spokane office, adding to its existing Seattle office and recently-added Portland location. Summit Capital will assume the Merriman name, and Summit Capital’s Seattle employees will be based in Merriman’s current Seattle office.
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