Charitable gifts are not the only way to help people in need while potentially reducing your tax liability. For certain individuals, the Opportunity Zones Program, begun earlier this year, may be an effective tax strategy

Jointly-owned family property, like a business or vacation home, can create family tension. To keep the peace, Partner Pierre duPont suggests creating a family charter.

Global growth is slowing; how much it slows may depend in part on China’s expansionary policies & capital spending in the U.S. Get more economic and investment insights in our February outlook.

Attached is the 2019 Outlook and a look back at 2018.

What’s in store for 2019? Our CIO, Ben Pace shares his insights about the probability of a recession, future interest rate hikes, trade tensions and global growth.

Few markets were spared from the corrective declines of the fourth quarter as the slowdown in global growth heightened concerns about impending recessions in a number of economies around the world.

Most equity markets in the developed countries have experienced sharp selloffs this week although the focus has been primarily on the US. US equities are now 16% below the late September highs. Learn more.

President-Elect Andres Manuel Lopez Obrador, and his brand of populism, have already begun to have a major impact on the Mexican economy. Investors in this market should proceed with caution.

U.S. equity markets fell over 3% on December 4 amid concerns the Fed may have already gone too far in tightening monetary policy and growing doubts about the recent trade talks between the U.S. and China. Learn more about what’s driving market activity and Cerity Partners’ perspective.

Unique tax-reporting rules apply when you make noncash charitable contributions of $5,000 or more. Here are some tips to help you avoid the most common mistakes.

Healthy consumer and business balance sheets should keep U.S. GDP at approximately 2.7% in 2019. Read our December Outlook for additional insights about U.S. and global markets.

Family wealth can diminish children’s hunger to live productive lives. But it doesn’t have to. Pierre duPont, a Client Advisor in Cerity Partners’ NY office, shares ways parents can instill a healthy perspective about money, work and society.

Many people believe U.S. stocks always beat international stocks. But history shows the U.S. has outperformed the rest of the developed world only 56% of the time. That’s why well-diversified portfolios include global exposure.

A Perpetual Education Trust is a way to influence the lives of distant descendants by providing them with a quality education

The U.S. economy continues to grow at a healthy rate while European economic growth has slowed to its lowest level in four years. Read our November Outlook for additional insights about U.S. and global markets.

The recent market selloff has many investors wondering if they should move their portfolios to the sidelines until things settle down. However, pulling your money out, even temporarily, could negatively impact your financial well-being in the long run

The U.S. midterms elections are right around the corner. While the markets seem to expect split legislature, there are two other possible outcomes investors should prepare of.

The markets declined sharply on October 10 and 11, the first significant pullback since February of this year. What's behind this downturn? We believe it's a combination of many factors.

U.S. GDP growth is expected to hold steady around 3% going into 2019 thanks to healthy consumer spending and increased capital expenditures. Check out the October Outlook for additional economic and market insights.

Third quarter saw many international equity markets rejoin the U.S. in this lengthy bull market while global bond performance was mixed.

U.S. and Emerging Markets are moving in opposite directions for the first time since the mid-1990s.

Rising trade tensions have yet to detract meaningfully from global growth as the actual tariffs imposed to date have been rather mild. Progress in negotiations between the US, Mexico, and Canada is helping to mitigate the risk that the trade skirmishes turn into a recession-inducing global trade war.

Global growth should sustain its current level into 2019, as positive momentum in the US compensates for slowdowns in other regions. Escalation of trade tensions would have an obvious negative impact, but the magnitude remains highly uncertain.

Includes the Second Quarter 2018 Market Commentary and asset class performance summaries.

Worsening trade tensions and the actual implementation of tariffs are threatening to slow global growth in the second half of the year, although US economic momentum should allow global economic growth to improve somewhat year-over-year.

Cerity Partners is pleased to announce it has been named to the 2018 edition of the Financial Times 300 Top Registered Investment Advisers in the US for the fourth year in a row. The Financial Times, one of the world’s largest business news organizations, invited more than 1,500 elite independent RIA firms to apply for consideration, based on their assets under management (AUM).  Rating criteria include assets under management, asset growth, compliance record, industry credentials, and transparency.

The recent volatility in Emerging Markets (EM) has raised the question from investors about the potential for contagion.

Accelerating growth in the US should help offset the slowdown in Europe and Asia, allowing 2018 global GDP growth to improve over last year. Heightened trade tensions will introduce more risk to the 2019 global growth forecast.

Global GDP is still expected to grow at a slightly higher rate compared to last year, with improving US economic growth compensating for the somewhat unexpected slowdowns in Europe and Asia. Increasing trade tensions are the biggest risk to this generally positive scenario.

Includes 1st quarter 2018 Market Commentary and asset class performance summaries.

Global GDP growth should maintain its current rate for the remainder of the year, with improving US economic growth offsetting some slowing out of Europe and Asia.

The recovery from the early February equity market correction was apparently a bit abrupt as the lows have been retested over the last few weeks.  US equity markets lost over 2% Monday and actually traded below the February 8^th correction low before recapturing half of Monday’s loss at today’s close.  We believe this continues to be a corrective phase in an admittedly aging bull market, but the recent market action reminds us that it will be a bumpy ride as the market attempts to claw its way back.

Following up on thoughts expressed in our note of March 2nd, the Trump administration announced another round of punitive tariffs which is focused this time solely on China.

Global GDP growth remains robust, although business and consumer surveys, as well as harder data, are showing signs of a slight slowdown in the rate of growth. The disappointing business and consumer spending reported early this year is not consistent with the still-ebullient consumer and business surveys. As the benefits of tax reform become more tangible, we expect business spending to regain the momentum evident in the second half of 2017.

We appear to be in somewhat of a “good news is bad” market environment as the stronger economic statistics and upward corporate earnings revisions are stoking fear of inflation and a spike higher in interest rates.  Concerns about potential competition coming from higher yields caused another 4% gap down in US equities today on top of the similar decline on Monday.  Equity markets in the US and most of the world have now experienced a 10+% correction.  Besides being the first correction in the US in two years, the speed of the decline has been rather surprising.

The global synchronized growth momentum from 2017 has carried into this year with many economies around the world expanding at an accelerated rate. The US has experienced a slight slowdown in 1Q momentum the last few years most likely due to weak business spending. This year, greater business confidence, which began to surface in the middle of last year, should be further boosted by tax reform and allow capital spending growth to offset the expected slight slowdown in consumption growth.

The sharp selloff in equities over the past week has wiped out all the January gains with markets actually in the red year to date as of this writing. From the peak of the S&P 500 achieved a little over a week ago, US equities are down roughly 8% as of today’s close. The primary catalyst for the recent weakness has been the sharp upward spike in interest rates. The ten year Treasury yield has increased 75 basis points over the last five months and 40 basis points year to date. While rates are moving up largely due to the strong domestic and global economy, sharp moves upward in yields can temporarily disorient markets.

In the 2018 Investment Outlook, we highlight some of the key risks and opportunities we foresee for investors over the coming year. We identify our key investment themes for 2018, and provide our annual scorecard of how well our key investment themes for 2017 performed.

Favorable growth momentum, plus structural reforms implemented by a number of countries, should allow the current expansionary cycle to carry over into 2018.

Global growth momentum should continue into 2018, supported by continued low interest rates and widespread fiscal reforms affecting both tax and spending policies.

The muted pace of the economic recovery following the 2008/2009 global recession appears to be extending the expansion phase, with most economies expected to experience continued positive growth through 2018.

U.S. economic growth is approaching the 3% level that economists consider to approximate full potential, led by strong capital investment and steady consumer spending. Proposed corporate tax cuts are expected to provide further support to economic growth. Meanwhile, the Fed has outlined the timing of its bond-selling program to shrink the balance sheet and has indicated its resolve to continue raising the federal-funds rate on a gradual basis.

CIO Ben Pace writes that he expects the Federal Reserve to continue on its path toward rate normalization despite stubbornly low inflation.  We likely will hear about plans for reducing the Fed’s balance sheet in the coming weeks and will see a rate hike in December 2017.  Emerging markets equities have performed very well this year and fundamentals remain strong.

Strong corporate earnings have helped to propel U.S. equities to new highs, despite waning prospects for  fiscal expansion.  Valuations of emerging market equities still look attractive.

Most countries around the world continue to enjoy non-inflationary economic growth with very little near-term recessionary risk despite the prevailing notion that it is getting rather late in the cycle of recovery and expansion from the severe crisis of 2008-2009.

Lower energy prices have reduced any burgeoning inflation threat, which will allow the Federal Reserve to slowly and methodically reduce its bloated balance sheet.  We expect two further rate hikes this year, as well as a plan to start reducing the intermediate maturity government securities accumulated on its balance sheet in response to the 2008 financial crisis.

The Financial Times on June 22, 2017 awarded Cerity Partners one of the top Registered Investment Advisers in the US for the third year in a row. Rating criteria include assets under management, asset growth, compliance record, industry credentials, and transparency.

The surprising surge in populist/nationalistic sentiment which characterized the geopolitical environment last year is beginning to wane this year. Centrist candidates are consolidating power in Europe and the new US administration is moderating its more extreme protectionist rhetoric.  In the U.S., first-quarter earnings results validated the year-to-date rally in US equities.

The global economy is starting to reap the benefits of the extremely loose monetary policies. However, in the U.S., the strong “soft” data we have seen from the various consumer and business confidence surveys need to translate soon into stronger “hard” data on consumer and business spending. The contentious and uncertain political environment may be dampening the relationship between how people and businesses feel and how much they actually spend.

The global economy continues to improve although upcoming elections in the Netherlands, France and Germany are posing uncertainties.  U.S. equities continued to advance through February, fueled by improving corporate earnings and expectations for pro-growth policies under the Trump administration.

Capital spending has started to make meaningful contributions to U.S. economic growth, and productivity has improved due to investment in capital equipment.  The economic recovery from the 2008-2009 recession continues.

The weaker euro and pound, along with stronger economic activity in Germany, should lead to positive equity returns in 2017.  In the U.S., improved business and consumer sentiment is translating into higher spending.