Carolyn Taylor represented Weatherly in a Yahoo Finance interview focused on the latest market action based on news of the day, state of the economy amid COVID-19, and what Weatherly is advising during this time of uncertainty. The interview occurred live on October 2nd, 2020 on the Final Round and was published on Yahoo Finance. Please click here to view the video and read the transcript of the interview.
With more than 35 years of portfolio management experience, Carolyn received an email invitation from Yahoo Finance to provide her perspective on market outlook, economic outlook, and how Weatherly is advising clients in this climate. Yahoo Finance learned of Carolyn through Barron’s 2020 List of Top 100 Women Financial Advisors.
The interview process was Q&A style focusing on pre-, current, and post-pandemic strategy and positioning and planning opportunities unique to the Secure Act and CARES act. Weatherly provided talking points to the producers at Yahoo Finance in advance; the interview was conducted live via Google hangouts.
There was no fee to be interviewed, and Weatherly was not required to advertise in (or subscribe to) Yahoo Finance. Yahoo Finance authorizes the use of the public URL for sharing purposes at no cost to Weatherly and licensing is not required. No organizational memberships were required of the Firm or individuals. Inclusion in this interview is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of inclusion in this interview.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit:
http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Carolyn@weatherlyassetmgt.com
Weatherly Asset Management, L.P. was included in the Financial Advisor’s Magazine of 2020 RIA Survey and Ranking List. This list is the publication’s 14th annual ranking of independent advisory firms. The list and article are available to view in the print version of the August 2020 issue and online at (https://www.fa-mag.com/news/rias-in-the-time-of-pandemic-56993.html?issue=332).
The ranking was based on 2019 year end discretionary and non-discretionary AUM reported on ADV. To be eligible for the ranking, firms must be independent registered investment advisors and file their own ADV statement with the SEC, and provide financial planning and related services to individual clients. Firms must have at least $50 million in assets under management as of December 31, 2019. Corporate RIA firms and investment advisor representatives (IARs) were not eligible for this survey.
The list was segmented by asset categories: 1) $1 billion and over; 2) $500 million to <$1billion; 3) $300 million to <$500 million; 4) $150 million to <$300 million; 5) $100 million to <$150 million; and 6) <$100 million. Within each of the asset category segments, firms were ranked by 2019 year end discretionary and non-discretionary AUM. Of the 137 firms in the $500 million to <$1 billion category, Weatherly was ranked 28. The comprehensive list consisted of 715 firms. Weatherly was ranked 342 overall.
Weatherly received an email invitation to participate in FA’s annual nation-wide RIA ranking survey. Weatherly completed the survey, which in addition to AUM, focused on services offered by the firm; service fee structure; anticipated changes to the business in the next 5 years; staffing and recruiting; operations and strategy. The survey review included information provided by Weatherly, as well as public data available through the firm’s ADV filing.
No payment was required for participating in the survey. After receiving notice of inclusion in the list and list publication, Weatherly elected not to pay for electronic use or hard copy reprints.
No organizational memberships were required of the Firm or individuals. Ranking on this list is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the ranking or the appropriateness of advertising inclusion in this list.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507 Carolyn@weatherlyassetmgt.com
Not much is normal these days – political conventions are virtual, major sports are played in empty arenas, and classrooms are remote. One thing that seems to remain a constant are the proposals being put forth by Presidential Candidates in the upcoming election to outline their goals, objectives, and strategies and the corresponding action by advisers to prepare their clients.
Former Vice President Joe Biden, now the Democratic Party’s official nominee for President, recently released his tax policy proposal for his administration should he win the White House in November. Key provisions in the 2017 Tax and Jobs Cuts Act (TCJA), set to expire in 2025, are now at stake of being eliminated early. President Trump’s communication has alluded to making the TCJA permanent. Below are the respective Candidates’ tax policies for their administrations:
Recently passed legislation in the SECURE and CARES Acts has created an opportunity for Weatherly clients in their “gap years” with large amounts of tax-deferred assets to potentially utilize a Roth Conversion in 2020 to lower personal taxes in future years and alleviate the tax burden for their heirs.
- CARES Act – As Required Minimum Distributions (RMD) have been waived in the 2020 calendar year, IRA owners have the flexibility to entirely skip their distributions or selectively withdrawal for Qualified Charitable Distributions or Roth Conversions. Both strategies can help reduce RMDs in future years without generating as large of a tax bill this year. Additional information on Qualified Charitable Distribution strategies to help reduce RMDs in future years. We will discuss the Roth Conversion strategy in more detail below.
- SECURE Act – Certain non-spouse beneficiaries are now required to fully withdraw the balance of an Inherited IRA within a 10-year window. Previously, these heirs could distribute the balance based on their life expectancy, a significant advantage for individuals at a young age with a long life ahead of him or her. Reducing the balance of non-Roth IRA assets will allow for greater tax flexibility for the ultimate recipient of the assets as distributions from Inherited Roth IRAs are not taxable.
For many individuals a Roth conversion is somewhat of an unfamiliar concept. In order to understand this concept better, let’s look at a comparison between key features of a Traditional IRA and a Roth IRA, how they came to be an effective financial planning tool, how they work, and why they may make more sense than ever to do in 2020.
The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997, but the Roth Conversion didn’t get its start as an effective financial planning tool until 2010, when limitations from the Tax Increase Prevention and Reconciliation Act of 2005 were removed. The removal of the limitations allowed individuals with a Modified Adjusted Gross Income (MAGI) over $100,000 to fully utilize the capabilities of a Roth Conversion.
How does a Roth Conversion work?
A Roth conversion allows individuals to take pre-tax money (cash or securities) from a Traditional IRA or 401(k) and reinvest those funds into a Roth IRA. The distribution from the traditional IRA will be included in gross income and subject to income tax at the time of conversion.
Why consider a Roth Conversion?
The decision to complete a Roth Conversion primarily comes down to deciding to pay taxes today or at retirement, with the intention to pay taxes at a lower tax rate today than you would in future years. This strategy can be especially effective for those expecting to be in a higher marginal tax bracket in the future and if you can afford the tax bill generated by the conversion.
With the amount of fiscal stimulus recently pumped into markets to combat COVID-19, along with the current low tax rate policies, there is a large likelihood that taxes will increase in the foreseeable future. If an individual believes they will be in a lower tax bracket during retirement, a Roth Conversion may not make sense.
What does this mean for your beneficiaries?
One of the major changes to retirement accounts under the SECURE act was the removal of the “Stretch” provision for IRAs inherited in 2020 and after. Certain non-spouse beneficiaries are now required to fully withdraw the balance of an Inherited IRA within a 10-year window.
Because of the removal of the “stretch” provision, it may be beneficial to use a specific Roth Conversion strategy that is referred to as the “amortization table approach.” This approach focuses on lowering the income tax liability for individuals who inherit a Traditional IRA. This can be done through the conversion of a higher annual dollar amount to a Roth IRA during the original IRA owner’s lifetime, in order to minimize the tax burden beneficiaries will face when taking their Required Minimum Distributions (RMDs) within the required 10-year window.
Read more about this approach here.
Why is now the time to consider this?
With the current backdrop of the COVID-19 pandemic, many individuals have seen a reduction of hours or a wage decrease, which may mean they are in a lower tax bracket this year than in previous or future years. Individuals who took advantage of the CARES Act ability to skip their required minimum distributions may also be in a significantly lower tax bracket in 2020. The additional unknown surrounding what taxes will look like in 2021 and going forward makes this year an ideal time to explore Roth Conversions with your advisor.
Caveats:
It is important to consult with a financial or tax professional when considering a Roth conversion to make sure that the conversion does not push the client into a significantly higher federal income tax bracket. Additional information regarding the 2020 Tax Rate Schedule can be found here.
For Example: A married couple filing jointly with taxable income of $60,000 can convert up to $20,250 to a Roth IRA while still staying within the 12% tax bracket. The 22% tax bracket starts at $80,251.
Additional Resources:
https://www.barrons.com/articles/trump-biden-and-taxes-what-to-expect-51596843040
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
Carolyn Taylor was included in Barron’s 2020 Top 100 Women Financial Advisors list. The full list can be viewed on Barron’s website here: https://www.barrons.com/report/top-financial-advisors/women?mod=faranking_subnav.
The criteria for ranking reflects assets under management as of 03/31/2020, revenue that the advisors generate for their Firms, regulatory record, quality of the advisor’s practices, and philanthropic work. Investment performance is not an explicit criterion because the advisors’ clients pursue a wide range of goals. In many instances, the primary goal is asset preservation. The scoring system assigns a top score of 100 and rates the rest by comparing them with the top-ranked advisor. Carolyn was ranked 63rd.
Carolyn Taylor was invited to participate in the nomination process via email solicitation from Barrons, and nominated by colleagues for inclusion in the list. There are over 100 nominations, but only 100 published ranking spots. Barron’s uses a proprietary method to rank advisors based on the criteria above. Weatherly provides this data to Barron’s in the form of a survey response. Initial ranking is done by Barron’s; publicly available data is verified by Barron’s against SEC and FINRA reports. Barron’s then conducts the next level of ranking. Data that is not independently verified by Barron’s is then sent back to the Firm for verification. Barron’s then incorporates any required changes into the ranking, and finalizes the list for editorial use and publishing.
No payment was required for nomination or inclusion in the ranking. After receiving notice of inclusion in the top 100 ranking list, Weatherly paid Dow Jones & Company for custom hard copy reprints and digital access.
No organizational memberships were required of the Firm or individuals. Ranking on this list is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the ranking or the appropriateness of advertising inclusion in this list.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Carolyn@weatherlyassetmgt.com
Weatherly Asset Management, L.P. was included in the 2020 Financial Times 300 Top Registered Investment Advisors list. This list was published online on FT.com, on July 30, 2020. View the list here: FT300_PDF_Reprint. The selection process for the Financial Times 300 (“FT 300”) is based on the largest independent Registered Investment Advisors across the United States that meet the following criteria: To qualify as a candidate for the FT 300, an RIA firm must manage at least $300 million in assets under management (as of 12/31/19), have no more than 75% of its practice’s assets be institutional, and be independent (it cannot be the RIA arm of a broker-dealer, for example). Financial Times invited roughly 4500 SEC registered RIA companies across the US who reported $300mm or more in AUM to participate in the review process. Some 760 RIAs applied and 300 made the final list. Qualified RIAs were required to fill out an online application, and were evaluated on several factors including AUM, AUM growth rate, years the firm has been in existence, industry certifications of staff, SEC compliance report, online accessibility and other factors such that the final list should include a diverse range of practice types. AUM comprised roughly 72 per cent of each adviser’s score, while asset growth accounted for an average of 15 percent. Additionally, FT capped the number of companies from any one state. The cap was roughly based on the distribution of millionaires across the US. The research was conducted on behalf of the Financial Times by Ignites Research, a Financial Times sister publication. The 300 firms were listed by state and alphabetically by business name.
No payment was required for nomination or inclusion in the ranking. After receiving notice of inclusion in the list, Weatherly paid Financial Times for custom hard copy reprints and digital access after the list was published. Wealth managers do not pay a fee to be considered or placed on the final list.
No organizational memberships were required of the Firm or individuals. Inclusion on this list is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the list or the appropriateness of advertising inclusion in this list.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Carolyn@weatherlyassetmgt.com
The novel Coronavirus has dramatically disrupted lives on a global scale. As businesses and individuals attempt to adapt to a post-COVID world, a series of new trends and opportunities have emerged. We have observed a shift away from major US cities to more affordable communities outside of traditional metropolitan areas. Clients transitioning to new living spaces have capitalized on the low interest rate environment and explored multi-generational gifting strategies or intra-family loans with our team. As we all continue to battle the pandemic, we welcome you to lean on your trusted Weatherly advisors to safeguard your financial assets and uncover potential planning opportunities.
White Picket Fence Comeback –
A trend the Weatherly team is following closely has been the exodus of some Millennial and Generation X populations from cities to suburbs. As real estate prices and rents have skyrocketed in major metropolitan areas, like New York and San Francisco, young adults have looked for relief in less expensive pastures as they start families and settle in their careers. Outside of monetary factors, recent concerns over COVID-19 infection and social turmoil have also augmented the migration to suburbia. Homeownership in the United States rose to 67.9% in the second quarter, its highest level since the housing peak in 2008. Conversely, the number of renter households fell by 7.2%. Owners under age 35 have been the leaders in driving this trend as the group’s home ownership rate is now at 40.6% [1]. Skilled workers that previously may have been required to work on-site, may now have the flexibility to stay with their current employers, but resettle to a different location and work remotely. We may see a lasting impact on commercial properties as businesses move away from shared workspaces and offices as a heightened focused is placed on social distancing and telework.
Zero-Interest Rate Policy (ZIRP) –
When the markets took a downturn in late February and early March 2020, the Federal Reserve acted quickly and provided a safety net for the domestic economy by lowering the Fed Funds rate to near 0%. This paramount move was in hopes to add liquidity by allowing businesses and consumers to borrow money at favorable rates and spur investment activity. The Fed Funds rate has had a spillover effect on the broader fixed income market as interest rates across the board came down in tandem. Included in this, is the 10-year treasury yield which is largely tied to mortgage interest rates. This has sparked a fury of homeowners looking to refinance their mortgage at lower interest rates. You can check today’s current interest rate estimates via sites like bankrate.com . With unemployment skyrocketing, refinancing has been a silver lining for Americans to maintain cashflow needs or provide the ability to invest extra funds into a deflated stock market. The historical low rates have also created an opportunity for the first-time homebuyer looking to enter the residential real estate market.
Gifting Outside the Box –
The simultaneous decline in real asset values and volatility in financial markets have created a gifting opportunity for high-net worth clients interested in advanced estate planning. Depressed assets, that may appreciate significantly following the COVID-19 pandemic, could possibly be transferred earlier than anticipated through a direct cash gift, sale by installments, or transfers in an intra-family loan. In these scenarios, assets can be passed or purchased at a depreciated market values with interest payments at modest levels due to historically low interest rates. Below we’ve outlined some strategies we’ve reviewed with clients assisting the next generation with first-time home purchases.
- Direct Cash Gift – We’ve recently worked with clients to assist their heirs through a one-time gift or periodic gifting schedule. Parents can also offer to co-own or purchase a home outright with a child as the parent, with a longer credit history and greater asset base, can often qualify for a lower interest rate than the child could on his or her own. Although this is the simplest method of transferring wealth, it’s important to be mindful of the annual gift tax exclusion, $15,000 per person as of 2020, given that any gifts above this amount can result in a decrease in your lifetime exemption and a gift tax return filing.
- Installment Sale – An Installment Sale is a transfer of property where at least one payment is made in a tax year different from when the sale is agreed upon. Breaking up the sale allows for the seller to piecemeal the capital gain realized from selling the asset, which may have appreciated significantly from purchase date or feature cost basis reduction from depreciation. The buyer also doesn’t have to come up with the full payment amount right away and can chip away at the purchase price over time.
- Intra-Family Loan – A loan, with the proper documentation, can be a great way to provide liquidity to younger family members with a purchase of an asset that would normally be out of their price range. Starting with a promissory note that outlines the loan amount, term, and an appropriate interest rate is the best practice to ensure that an audit down the line won’t result in any tax consequences. Here’s a link to an Index of Applicable Federal Rates (AFR) to use as a baseline for the stated interest rate.
How Can WAM Help?
We invite you to leverage us, as your trusted advisors, to run financial planning scenarios to determine housing affordability, suggestions to estate plans and connections to mortgage professionals. We can help streamline the mortgage process by providing necessary documentation to lenders in a secure format. For those new to the residential real estate market, we suggest reviewing our First-Time Home Buyer’s Checklist which provides a step-by-step guide to home ownership. Please contact us with any questions or to continue the conversation.
Sources and Further Reading –
https://www.thebalance.com/treasury-note-and-mortgage-rate-relationship-3305734
https://www.nerdwallet.com/article/mortgages/closing-costs-mortgage-fees-explained
https://www.chase.com/personal/mortgage/home-mortgage/getting-started/mortgage-prequalification
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
San Diego Business Journal included Weatherly Asset Management in the 2020 listing of Wealth Management Firms, published on May 4, 2020. Placed among the best in San Diego County, WAM lands the 16th spot of 42 firms in total. Eligibility requirements to participate included being a registered investment adviser with either the Securities Exchange Commission or the California Department of Corporations. The criteria by which Firms were ranked was based on assets managed in San Diego County for fiscal year 2019.
After receiving an email invitation from the Journal to participate in the list, Weatherly completed a brief online survey. A third-party CPA was required to complete an attestation for total assets managed in 2019 and 2018. The Journal used the CPA attestation to verify Weatherly’s assets under management for FY 2019 and FY 2018. It is not the intent of the list to endorse the participants nor to imply a firm’s size or numerical rank indicates its quality. There was no fee to participate in the list ranking, and Weatherly was not required to advertise in, or subscribe to, the San Diego Business Journal. No organizational memberships were required of the Firm or individuals. Inclusion in the ranking is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Past performance is not necessarily indicative of future results. Weatherly is not aware of any facts that would call into question the validity of the ranking or the appropriateness of advertising inclusion in this list.
Daily life changed globally and permanently due to the COVID-19 virus, and at Weatherly we have adapted to the dynamic landscape in multiple ways. While our team has been mostly working remote since mid-March, we are still running business as usual and are implementing a variety of tools to make Weatherly a safer and more socially responsible workplace.
During this uncertain time, we know that communication is paramount which is why we have increased our email blast frequency to twice a month to capture ongoing strategy changes, as well as market updates. If you are not already included on our email list and would like to be, please sign up for our mailing list by filling out this contact form.
Like many businesses, we transitioned to calls and virtual meetings in March for the safety of our clients and team. While in-person meetings are not a possibility at this time, WAM has utilized GoToMeeting for video conferencing for a number of years. This tool not only allows us to communicate more effectively while in different locations, we also have the added benefit of using the screen sharing and presentation capabilities. Our advisors can walk through your client reports with you by page, access your custodian’s website, or demonstrate how to get onto your secure Weatherly portal. This is especially useful during tax time, when you or your CPA upload tax documents for your advisor to analyze. Whatever the task, our advisors can virtually be right by your side to accomplish it. If you are interested in setting up a quarterly review, or secure portal training session via GoToMeeting, please do not hesitate to reach out to our team. We would be happy to help you get set up.
Working remotely has given us the opportunity to tap into the depth of Microsoft’s productivity software offerings. Microsoft’s secure remote access and communication tools have been crucial for our team internally. Through the security and usability of Teams, SharePoint and other communication software, our team has been able to stay on the same page while also providing service in a timely manner. Another tool that has made remote work possible is the secure utilization of DocuSign. We have been diligent in using DocuSign whenever possible for its environmental and convenience benefits, but it has now become essential in allowing business to continue seamlessly while also remaining distant.
One thing that hasn’t changed throughout this transition to remote work is Weatherly’s commitment to protecting your data. Cybersecurity has and always will be a main priority of our business. Our client and team communications remain secure with the use of the Weatherly portal, DocuSign and apps that encrypt and password protect physical documents. We have increased our use of apps like GeniusScan to allow for secure scanning and sharing of internal records. As more innovative technologies emerge, we are continuously evaluating which tools offer our clients the most optimized experience.
In preparation for our team’s gradual return to the Weatherly office, we are focusing on safety first by implementing more extensive safety measures. We have added hands-free soap and hand-sanitizer dispensers and increased frequency and depth of our cleaning program. We are also in the process of installing tempered glass barriers between workspaces to create more physical boundaries once we can work in the office together safely. While we are not resuming in person meetings at present, we hope these changes will make you feel more comfortable coming into our office when it is safe to do so.
Under normal circumstances, our team prides itself on our boutique atmosphere and face-to-face communication style. The quarantine has provided us with a unique opportunity to discover new ways to connect with each other and our clients. To maintain our spirit of team collaboration, we participate in daily team video calls to touch base on day-to-day activities as well as ongoing projects and progress on larger firm strategy initiatives. Now more than ever, the importance of staying connected is critical.
As we navigate this new “normal,” we work hard to remind each other that while times are uncertain, we can be confident in our ability to adapt and remember to have a laugh or two as we grow in this new environment. While nothing can take the place of sitting right across from a coworker and catching up, we work to bring our workplace culture into our remote environment through weekly team-building activities, exchanging songs we are listening to and sharing recipes tried over the course of the stay at home order. We are excited to share our team cookbook and quarantine playlist with you. We hope this inspires you and your family to find creative new ways to stay connected while staying at home. Check out the links below for our collaborative playlist and cookbook!
Read our Weatherly Cookbook here
Listen to our WAM Quarantine Playlist here
While the crisis is ongoing and our interactions may look a bit different these days, the team at Weatherly remains committed to providing an elevated client service experience for you and your family. We look forward to seeing you in the office again soon but for now please stay healthy and stay safe.
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
Over the course of the stay-at-home order, the Weatherly team has found a few creative ways to stay connected to each other during this unprecedented time. In addition to daily team video calls, the crew has been curating a playlist of songs we are listening to, as well as a WAM cookbook of recipes tried and deemed true during the quarantine. Some old, & some new, we hope this brings a bit of light to your time at home!
Carolyn Taylor was nominated for Shook Research’s 2020 Top Women Wealth Advisors list. She was invited to complete an online survey detailing information about her career, as well as Weatherly as a firm. Carolyn was named 325th out of 1,000 advisors in total. The list was published on April 21st, 2020 on Forbes.com at https://www.forbes.com/top-women-advisors/#143cf71f51f4.
The 2020 Top Women Wealth Advisors ranking is based on firms’ AUM as of 9/30/19 and reflects Weatherly’s discretionary AUM of $808 Million.
The Forbes ranking of America’s Top Women Wealth Advisors, developed by SHOOK Research, is based on an algorithm of: qualitative data, such as telephone and in-person interviews, a review of best practices, service and
investing models, and compliance records; as well as quantitative data, like revenue trends and assets under management. All advisors have a minimum of seven years’ experience. Portfolio performance is not a criteria due
to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. In total, 32,000 nominations were received and 14,190 advisors were invited to complete the online survey. Throughout the research process, 11,864 telephone interviews and 2,356 in-person interviews were conducted. The ranking listed 1,000 advisors, and Carolyn was ranked 325th.
Basic Requirements to be considered for the “Forbes Top Women Wealth Advisors” included: 1) 7 years as an advisor; 2) minimum 1 year at current firm 3) advisor must be recommended, and nominated, by Firm, 4) completion of online survey; 5) over 50% of revenue/production must be with individuals; and 6) an acceptable compliance record. In addition to the above basic requirements, advisors were also judged on the following quantitative figures: 1) revenue/production; weightings assigned for each; 2) assets under management—and quality of those assets—both custodied and a scrutinized look at assets held away (although individual numbers are used for ranking purposes, the ranking publishes the entire team’s assets); 3) client-related data (i.e.retention.) NOTE: Portfolio performance was not considered – audited returns among advisors are rare, and differing client objectives provide varying returns. Qualitative considerations examined included but were not limited to: 1) telephone and in-person meetings with advisors; 2) compliance records and U4s; 3) advisors that provide a full client experience (factors examined include service model, investing processes, fee structure (higher % of fee-based assets earns more points,) and breadth of services, including extensive use of Firm’s platform and resources; 4) credentials (years of service can serve as proxy); 5) use of team & team dynamics; 6) community involvement; 7) discussions with management, peers, competing peers, and 8)telephone and in-person meetings. Compliance records and U4s were also reviewed in detail as part of the selection process including: 1) infractions denied or closed with no action; 2) complaints that arose from a product, service or advice initiated by a previous advisor or another member or former member of team; 3) length of time since complaint; 4)complaints related to product failure not related to investment advice; 5) complaints that have been settled to appease a client who remained with the advisor for at least one year following settlement date; 6) complaints that were proven to be meritless; and 7) actions taken as a result of administrative error or failure by firm.
Weatherly Asset Management did not pay any fees to SHOOK to be nominated or included in the “Forbes Top Women Wealth Advisors” list and Weatherly was not required to advertise in, or subscribe to, Forbes. As of the time of this disclosure, Weatherly did not elect to pay for reprints of the list.
Inclusion in this ranking is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the ranking or the appropriateness of advertising the award.
SHOOK Disclosures
SHOOK is completely independent and objective and does not receive compensation from the advisors, Firms, the media, or any other source in exchange for placement on a ranking. SHOOK is funded through conferences, publications and research partners. Since every investor has unique needs, investors must carefully choose the right Advisor for their own situation and perform their own due diligence. SHOOK’s research and rankings provide opinions for how to choose the right Financial Advisor.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507 Carolyn@weatherlyassetmgt.com