2024 New Capital 10th Annual Conference
Explore the highlights from New Capital's 2024 Annual Conference.
Welcome Remarks
Leonard Golub, CFA
Slides | 13:11
The 2024 New Capital Annual Conference celebrated the firm’s 20-year anniversary and a decade of conferences. Leonard Golub welcomed attendees and outlined an agenda featuring market trends, financial strategies, estate planning, and updates on New Capital’s services and technology. He introduced new team member Deysi Davila and shared client poll insights on economic expectations and financial trends.
Ignoring the Noise: The Value of Your Advisor
Chris Tidmore, CFA, CPA, Senior Manager, Vanguard Investment Advisory Research Center
Slides | 47:53
Chris Tidmore, CFA at Vanguard, emphasized the crucial role of financial advisors in guiding disciplined, long-term investment strategies. He showed that missing just the 10 best market days over 35 years could reduce a $100,000 investment from $4 million to $1.7 million, underscoring the importance of staying invested. Advisors add significant value through behavioral coaching, which helps clients avoid impulsive decisions and boosts annual returns by up to 3%. Tidmore noted that while events like elections may be stressful, they seldom warrant major portfolio changes. Advisors keep clients focused, ensuring consistent progress toward financial goals.
Financial Markets in October 2024
Leonard Golub, CFA
Slides | 1:02:51
The October 2024 financial market overview highlighted critical investment insights and strategies. Key points included personalized investment policy statements (IPS) to be shared in 2025, showcasing tailored portfolio details. The shift from mutual funds to ETFs was emphasized for tax efficiency, minimizing capital gains in taxable accounts. Strong market performances were noted, with significant gains in U.S. stocks (35%), international stocks (25%), and global real estate (30%). The importance of diversification was reinforced amid past real estate concerns. Additional discussions covered declining inflation trends, a steady 4% unemployment rate, and fiscal challenges related to government borrowing at higher interest rates.
Naming Your Beneficiaries: Dos & Don’ts
Kevin Horner, The Galligan Law Firm
Tonya L. Knauth, Attorney, PLLC
Slides | 58:15
Estate attorneys Kevin Horner of Galligan and Manning and Tonya Knauth of Tonya Knauth PLLC shared key insights into effective estate planning, emphasizing the importance of thoughtful beneficiary choices, regular updates, and coordinated financial designations. They recommended using trusts, especially for minors or beneficiaries with special needs, to control inheritance timing and safeguard benefits. Open conversations with beneficiaries were encouraged to clarify intentions and avoid assumptions. They also suggested “love letters” to convey personal values alongside financial gifts. Ultimately, they highlighted that professional guidance and frequent updates are essential to ensure a legacy aligns with one’s wishes and supports family harmony.
What’s New at New Capital
Leonard Golub, CFA, Jaycee Smalley, CFP, Casey Moss, PACE Catherine Bahr
Slides 1:06:36
The team at New Capital provided an overview of recent initiatives and services, emphasizing collaboration and continuous professional development to stay aligned with evolving industry trends. This approach underscores the collective expertise of team members, ensuring clients receive informed guidance.
Key topics included estate planning, retirement services, and generational planning, stressing the importance of involving young adults early to build financial literacy. New Capital’s estate services offer referrals to trusted attorneys and convenient online options, catering to clients at various life stages.
Cybersecurity was highlighted as essential, with the firm urging clients to adopt practices like multi-factor and voice authentication to safeguard accounts. Updates to the NCM 360 client portal, including automated meeting notes, a budgeting tool, file-sharing, and a secure Service Center, enhance client collaboration and data protection. These improvements reflect New Capital’s strategy to integrate technology with personalized service, supporting comprehensive financial planning.