Ride The Wave—With Intention
These trends were on display during our recent U.S. national convention in Miami. The two-day, three night, in-person event, which included directives to wear masks and keep six-feet apart at all times, would have felt normal, were it not for the great energy and enthusiasm that was palpable in every room.
Investors and advisors have been riding an unprecedented wave of market growth, fueled by historically low interest rates and capital looking for a better home. It would have been hard not to see significant gains in a well-managed portfolio over the past two-years.
However, nothing endures but change. And as we look to the future, smart advisors will need to keep pushing forward, taking advantage of the market characteristics that enabled this reality, but remaining cognizant of potential shifts that are more likely during periods of uncertainty, such as a bumpier-than-expected pandemic recovery, social unrest or political change.
Suffice it to say, normal will not look “normal.” But sound fundamentals, combined with taking advantage of the energy and enthusiasm of the current moment, can help advisors deliver meaningful results and exceptional value to clients.
Mike Nessim is CEO and president of Kingswood U.S., a network of wealth management firms that includes two SEC-registered RIAs and two Finra-licensed broker-dealers collectively overseeing more than $2.1B in assets.