TPW This Just in

Our President, Joseph Eschleman, and Partner, Wealth Advisor, Jonathan LaTurner, enjoyed connecting with Anne Stauffer, TPW’s Schwab Advisor Services relationship manager, for an enjoyable lunch yesterday to discuss our strategic custodial partnership with Charles Schwab.

Selecting and partnering with the right custodian is of paramount importance for a fully-independent Registered Investment Advisor (RIA) firm like Towerpoint Wealth. Serving as the backbone of TPW’s operations, and providing crucial support in managing and safeguarding our client’s assets, Charles Schwab has been an integral ally for us and all of our clients since we launched our firm more than six years ago.

Seeking to ensure that our clients continue to receive efficient trade execution, accurate record-keeping, and secure custody of their cash, securities, and other assets, it is essential that we are in continual communication with Schwab about a myriad of wealth management and client custody issues. And beyond the aforementioned operational aspects, Schwab also aligns very well with our firm values and objectives, and helps to enhance our credibility and reputation in the eyes of regulators like the SEC. Selecting Charles Schwab as our custodian has afforded us the opportunity to leverage their advanced technology, comprehensive reporting, and exemplary client service. This allows us to better streamline our administrative processes, and focus on delivering exceptional financial advice and counsel, all in the interests of helping our clients properly coordinate all of their financial affairs, and ultimately foster long-lasting client partnerships built on trust and transparency.

A fun and prominent group of Sacramento-area financial advisors, professional fiduciaries, CPAs, EAs, mortgage brokers, wealth managers, bankers, and attorneys gathered for Towerpoint Wealth’s 1st annual TPW Spring Social Mixer.

The event, held at Revolution Winery + Kitchen, provided an opportunity for business networking, and engaged a spirit of cooperation and collaboration among attendees, who discussed, yes, banking, real estate, and financial services, but also hobbies, families, and of course, the pleasures of wine.

Recently the Towerpoint Wealth team headed to Folsom for our quarterly teambuilding day. 

We had the pleasure of learning CPR as well as the importance of knowing how to provide first aid in case of an emergency. Our half-day of training was provided by the Rescue Training Institute, and it was awesome!

We all left feeling much better prepared, and with a sense of security knowing we can now help and render first aid. Watch this short video recap of our day!

Californians impacted by this year’s winter storms are now eligible to claim a deduction for a disaster loss and will have more time to file their taxes. Resources include:

• Governor Newsom’s official declaration
• California’s disaster loss website
• IRS disaster loss website
• CalCPA’s YouTube message

Call us (916-405-9140) or message us to discuss your circumstances and for further guidance.

Our new Associate Wealth Advisor, Megan Miller, EA, has not wasted any time diving into coordinating the myriad of professional responsibilities that goes with the territory, most recently attending First Trust’s Economic and Market Update presentation. Hosted by Andrew Opdyke , CFA, Senior Economist, Robert Carey, CFA, Chief Market Strategist, and Bob DeRochie, Senior Vice President and Fixed-Income Specialist, the presentation covered such issues as:

• Expectations for inflation and interest rates as we enter into 2023.
• Will the US economy slip into a recession this year, or will the extremely tight labor market cause growth to pick up?
• After a 2022 “double-whammy” in both the equity and fixed income markets, how reasonable is it to expect a bounce-back in 2023?
• How the addition of alternative investments into a properly-diversified portfolio can help to enhance returns and manage risk.

We are glad (but by no means surprised) to see Megan quickly assimilating into the TPW culture and into her role as Associate Wealth Advisor, and we look forward to introducing her to the TPW family of clients this year!

Our wonderful Client Service Specialist, Michelle Venezia, took time out of her schedule on Monday morning to do an on-site document notarization for two very good Towerpoint Wealth clients, Jeff and Karen Wedge.

After business with Jeff and Karen was complete, Michelle was the fortunate beneficiary of a tour of their magnificent “wine cellar.” The Wedges did a great job retrofitting an old storage shed into a warm, beautiful, and inviting place to smell, sip, taste, and chat, and we think that the next notarization should be on a Friday afternoon instead of a Monday morning so you all can imbibe a little afterwards!

After two years of having to host the conference virtually, the 2022 Schwab IMPACT conference, aka the “World Series of Investment Conferences,“ is in full effect in Denver, CO!

Among the more than 5,000 invite-only attendees are our Director of Research and Analytics, Nathan Billigmeier, our Director of Tax and Financial Planning, Steve Pitchford, and our Partner, Wealth Advisor, Jonathan LaTurner (pictured above with Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of The Truth About Crypto).

From live keynote presentations from some of the biggest names in business, finance, wealth management, and politics, to intimate and interactive breakout sessions throughout the three-day event, the conference is truly a one-of-a-kind and fully-immersive experience. Here are three examples of the curriculum and topics that Nathan, Steve, and Jon have access to:

• Housing Market Update: What You Need to Know to Advise Your Clients

Delve into today’s most important housing market trends and learn how to best advise clients who are investing in real estate.

Are you on top of current housing market trends that might affect your clients’ portfolios and their investing goals? Douglas Duncan will provide an overview of what’s happening in this market and share insights into topics such as current supply and demand, the future of mortgage interest rates, and upcoming regulations that may have an impact on consumers interested in purchasing real estate. Discover:

–How to provide insights to clients asking about the right time to purchase real estate

–Whether it’s appropriate to recommend that clients borrow money based on future interest rates

– How to advise clients on the most effective way to leverage credit for real estate transactions

• A Macroeconomic Update with Jeffrey Gundlach

Gain insight from a renowned thinker about where global markets are headed and how you can discover opportunities and generate income.

Amid a shifting global economic landscape, just about anything—from a disappointing earnings report to the opaque comments of a central banker—can send tremors through the market, presenting a major challenge for investors seeking to maintain stable portfolios. In a moderated discussion, Jeffrey Gundlach will share his unconventional ideas about the state of global markets and central bank policy in a session and Q&A that will offer:

– New ideas for investing in today’s market environment and opportunities to generate income

– A deeper understanding about which sectors to avoid

– A prediction about where interest rates may be headed this year

• Killing Complexity: Why Simple Wins

Unproductive meetings, endless emails, and reports-for-the-sake of reporting aren’t part of the definition of meaningful work – they’re the result of complexity.  FutureThink CEO and Ted Talk veteran Lisa Bodell shows you how to foster a workplace where there’s time and space to innovate, allowing you to become your own chief simplification officer.  She’ll share the techniques the nimblest companies use to save time, eradicate rules, and boost productivity on the work that matters.  By eliminating complexity, you’ll increase customer trust, boost staff retention, and innovate more quickly.

The full IMPACT session catalog delineates just how robust, comprehensive, and in-depth IMPACT is, and we look forward to having Nathan, Steve, and Jon bring back a myriad of new ideas to help us better serve and counsel our clients, and to help Towerpoint Wealth operate in a more intelligent and streamlined fashion.

Our Director of Research and Analytics and TPW Investment Committee member, Nathan Billigmeier, spent an productive hour-long meeting yesterday with Lance Oman, CFA and Chris Murphy, CIMA® of T. Rowe Price, discussing specific ideas and strategies to help Towerpoint Wealth help our clients:

1. Lessen the impact of rampant inflation and rising interest rates on our model client investment portfolios.
2. Reduce the income tax drag on our model portfolios.
3. Minimize expenses and costs of our portfolios.

We are fortunate to have such supportive and genuinely interested business partners here at Towerpoint Wealth, and will continue to be disciplined and diligent in doing everything we have control over to help our clients build wealth and protect wealth, regardless of the external political, market, and economic environment.

Our President, Joseph Eschleman, connected for a comprehensive financial review meeting earlier today with an excellent long-time client (and gardener), Terry Eager.

Terry and Joseph have worked together for many years (including a number of pre-Towerpoint Wealth years), and being the kind and thoughtful person he is, Terry will oftentimes bring the office a bundle of his gorgeous home grown tomatoes.

Terry Tomato, your nickname is well-earned!!

The entire Towerpoint Wealth Team came out on Community Volunteer Day to lend a hand to the American River Parkway Foundation program to clean up trash along Sacramento’s urban gem.

Spanning 23 miles and covering 4,800 acres, the Parkway is a mecca for outdoor enthusiasts and those looking to refresh themselves.

In 2021, more than 200 fires burned over 15% of the parkway. The Parkway in Peril program created by the Foundation aims to mitigate fire risk by cleaning up trash. Volunteers play an essential role in conservation of the parkway.

Guided by Alex Watson, the TPW team hauled out ~ 1,400 lbs. of old bicycles, couches, and what felt like a ton of plastic waste in sweltering temperatures.

Click below to watch an inspiring video where you can see the TPW Team all hard at work helping preserve this Sacramento treasure!