The stock market experienced all of the emotions in 2023. A strong start, followed by a quick drop. Then a nice climb throughout the summer, followed by a 10% drop in the fall. The tide turned in November as the market rallied into year end. This, in a nutshell, is how owning stocks works. Periods of stress and anxiety that eventually turn into relief and joy.
This has been a common question among investors, especially with the wound from 2022 still being fresh. So I did some research to see how stock performed in the year following a big upward move, and the results may surprise you. I defined a "big year" as 20% or more for the S&P 500.
Compliance Time! If you're currently a client of Elite Wealth, you can expect some profile-updating in the coming weeks. For many of you, this means an update to your risk profile. We will use the same online test as in the past. This will only take 5 minutes, and my compliance department greatly appreciates your cooperation! You may also be required to update your advisory agreement if your risk profiles has changed. This will all be handled through DocuSign.
Technology: Our year-end client survey highlighted that fact that many Elite Wealth clients are NOT using the Elite Client Portal or the Schwab Website/App. These apps/sites are designed to make your life easier, so I encourage you to at least log in.
Why you should log in: Access tax documents, account statements, portfolio details & performance, the ability to move money to/from your bank, updating beneficiaries, and much more....
Links to the Elite Wealth Portal & Schwab:
We generally serve families with $500k or more in retirement/investment assets. Our clients are seeking a trusted advisor to oversee investment decisions and retirement planning. Schedule a meeting to explore our services:
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