The Wealth Group – Austin B. Colby & Associates is a Securities and Exchange Commission registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results. Investments involve risk and are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.
MINNESOTA
14850 SCENIC HEIGHTS RD, STE 100 EDEN PRAIRIE, MN 55344
(952) 937-9423
TENNESSEE
725 COOL SPRINGS BLVD, STE 445 FRANKLIN, TN 37067
(615) 395-8600
VIRTUAL OFFICE NATIONALLY VIA ZOOM
Bachelor of Science in Business Administration and minor in Christian Studies from North Central Universit
“I have always had an interest in personal finance. Having a plan and setting goals for your financial life enables you to accomplish things that otherwise would never be possible. A thousand small steps in the right direction can lead to a life of stability and ability—The Wealth Group exists to help plot that course and keep our clients on track.”
Even as a young adult, keeping her finances in order and planning for the future has allowed Paige to experience wealth as a blessing rather than a stressor. She wants people to know that same freedom, especially when life gets complicated.
I enjoy helping our clients make good decisions with their money. It’s rewarding to watch our clients build wealth with us at their side. When I see a young family cross the $1 million net worth mark — after starting with our team with a net worth of $200,000 — it’s an awesome feeling.
As our clients continue to focus on the things they can control, such as paying down debt and adding money to their investment portfolio year after year, I have noticed that it becomes easier to stomach the (inevitable) bear market. Over my time at The Wealth Group, I have learned that good financial behaviors never go into a recession.
When I’m not at The Wealth Group I enjoy spending time with my wife and three children. Together we like to be outdoors, play sports, and be active participants at our church.
“I am passionate about my work because I think it is important to make wise, informed decisions with our finances as it permeates into all aspects of our lives. Just as people strive to maintain balance in their overall lives, financial wellness and understanding in your personal life is just as important. ”
“I have realized there are so many people in the world today who are unsure of how to save or plan for the future. They live paycheck to paycheck and think debt is normal. We get to help people realize that there’s a different way to live. We get to help people who feel hopeless finally find a clear path for the future while taking control of their finances for the first time. When people are proactive rather than reactive, it’s amazing what can be accomplished.
Karie’s main role is managing the onboarding process for new clients. She works hard to ensure a seamless transition and to make all clients feel welcome and cared for. As the Director of Client Services, she oversees the Client Services team, plans client events, processes monetary transfers, handles paperwork for clients and helps to manage the day-to-day operations of the office.
“I love being able to see and contribute to the confidence in the families we help when they know they are taking the correct steps towards financial independence. I truly enjoy building relationships with people. The work I do with The Wealth Group gives me the opportunity to do this by building a relationship that will last a lifetime.”
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER ™, and CFP® in the U.S.
“I love working alongside the people at The Wealth Group. Additionally, my younger brother (and now boss) and I have wanted to work together for years. When the opportunity arose within The Wealth Group I jumped at the chance. I have always had a passion for personal finance and investing; the transition into this investment-focused role was a natural one for me.”
Developing and stress-testing the firm’s asset allocation models is a passion of Adam’s. You may often find him assessing risk metrics for client portfolios and the broader global markets as well as trading and rebalancing client portfolios.
Investments & Wealth Institute TM (The Institute) is the owner of the certification mark “CIMA” and “Certified Investment Management Analyst.” Use of CIMA and/or Certified Investment Management Analyst signifies that the user has successfully completed The Institute’s initial and ongoing credentialing requirements for investment management professional.
From childhood, I was strongly interested in working hard, making money, and most importantly, saving money. Today, I use that passion to empower our clients to succeed with their money. A lot of people experience unnecessary stress and anxiety in their financial lives.
After college, I worked in a large bank and began investing on my own for the first time. I remember plugging numbers into a Roth IRA Calculator and realizing the power of compounding from an early age. I was amazed at how [seemingly] easy investing was…not realizing that bear markets are what make investing challenging. A few years into my career as a financial advisor, the Great Recession (2007-2009) hit, and I gained a lot of crucial experience in a short period.
Those lessons from the Great Recession will stick with me for the rest of my life. I learned not to over-extend myself on real estate, to never sell out of stocks during a bear market, the power of being 100% debt-free (including no mortgage), and also the opportunities in stocks that arise from the ashes of a deep bear market.
Proverbs 11:14 says, “Where there is no guidance, a people falls, but in an abundance of counselors there is safety.” We aim to be those counselors that provide knowledge and safety for our clients.
A good financial advisor should have the heart of a teacher. Through our relationship, we aim for our clients to grow in knowledge and mastery over their finances. We want them to be the driver of their financial plan, with us as their sidekick/coach to help them realize their plans and goals.
I have been quoted as a financial expert in Fox Business, U.S. News & World Report, Yahoo! News, GOBanking Rates, Lifehacker, and Business Insider.
More important than my role at The Wealth Group is my position as a redeemed son of God, husband to Krista, and father to five children.
“I want people to succeed at life and that includes guiding them to achieve sound money management. I enjoy helping individuals and businesses make beneficial decisions in regards to money and investment management. Long range planning is one of my professional passions and moving people from the thought of retirement to the reality of retirement is something I enjoy assisting our clients with.”
Paul has more than 25 years of experience advising business owners and affluent individuals about their finances. Paul has achieved the CERTIFIED FINANCIAL PLANNER™ designation. Being a CFP® professional enables him to help clients focus on what is important to them. He has also earned the Chartered Retirement Plan Counselor (CRPC®) designation, which demonstrates his expertise in the area of retirement financial planning for individuals.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER ™, and CFP® in the U.S.
“I believe every family can achieve their financial goals if the path to do so is clear. This work of building paths and guiding clients along those paths is my passion, and it brings me tremendous joy. After twenty years of doing this, I am more excited today than ever about helping families with their finances. Helping one family at a time make good choices makes a difference. I believe that wholeheartedly and am thankful for the opportunity to serve so many people in this capacity.”
Austin is the owner and visionary behind The Wealth Group. His #1 responsibility is to lead our team in devotion to the mission: providing quality financial planning and investment management to the firm’s clients.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER ™, and CFP® in the U.S.
The Stock Markets Go Up and Come Down and Go Up…
By Mike Earl, CFP®, CPWA®
As I write this, it looks like the U.S. stock market (as measured by the S&P 500) will finally get something that happens, on average, about once a year: a 10+% percent drop—the definition of a market correction.
The last time this happened was two years ago, ending in February of 2016. The drop that tends to stick in our minds was a whopper—the Great Recession drop that caused the S&P 500 to drop more than 50%–so many of us today probably think corrections are catastrophic. They aren’t. More typically, they last anywhere from 20 trading days (the 1997 correction, down 10.8%) to 104 days (the 2002-2003 correction, down 14.7%).
Corrections are unnerving, but they can be a healthy part of the economy—for a couple of reasons.
Reason #1:
Because corrections happen so frequently and are so unnerving to the average investor, they “force” the stock market (as measured by the S&P 500) to be more generous than alternative investments. People buy stocks at earnings multiples which are designed to generate average future returns considerably higher than, say, cash or municipal bonds—and investors require that “risk premium” (which is what economists call it) to get on that ride. If you’re going to take more risk, you should expect at least the opportunity to get considerably more reward.
Reason #2:
The stock market roller coaster is too unsettling for some investors, who sell when they experience a market lurch. This gives long-term, disciplined investors a valuable—and frequent—opportunity to buy stocks on sale. That, in turn, lowers the average cost of the stocks in your portfolio, which can be a boost to your long-term returns.
The current market downturn can probably relate to both reasons, where you can see that bonds and stocks are always competing with each other and that investors get scared. If we make a fear or greed-based investment decision, we know that recipe rarely leads to long-term success. Monday’s 4.1% decline in the S&P 500 coincided with an equally-remarkable rise in the yields on U.S. Treasury bonds. Treasuries with a 10-year maturity are now providing yields of 2.85%.
People who believe they can get a decent, relatively risk-free return from bond investments are tempted to abandon the bumpy ride provided by stocks for a smoother course that involves clipping coupons. Bond rates go up and the very delicate supply/demand balance shifts, at least temporarily, in their direction, and you have a piece of the recipe for a stock market correction.
This provides us all with the opportunity to do an interesting exercise. It’s possible that the markets will drop further—perhaps even, as we saw during the Great Recession, much further. Or, as is more often the case, they may rebound after giving us a correction that stops short of a 20% downturn. The rebound could have already happened as early as yesterday, or some weeks or months from now as the correction plays out.
Once it’s over, no matter how long or hard the fall, you will hear people say that they predicted the extent of the drop. So now is a good time to ask yourself: do I know what’s going to happen tomorrow? Or next week? Or next month? Is this a good time to buy or sell? Does anybody seem to have a handle on what’s going to happen in the future?
Record your prediction, and any predictions you happen to run across, and pull them out a month or two from now.
Chances are, you’re like the rest of us. Whatever happens will come as a surprise, and then look blindingly obvious in hindsight. All we know is what has happened in the past. In my professional opinion, this week’s market drop is nothing more than a data point on a chart that doesn’t, alas, extend into the future.
As for us, we point to the continued excellent corporate earnings reports, lower corporate taxes, lower individual income tax brackets, lower unemployment, and increased corporate revenue: all of which lead us to believe that this is, in fact, a very temporary pull-back with more quality economic growth forthcoming.
Let’s focus on what we have control over in our financial lives and leave the guessing game to others.
Sources:
Bob Veres Inside Information
Because The Wealth Group, Austin B. Colby & Associates is independent of Raymond James, the expressed written opinions above are our own and not necessarily reflective of Raymond James’ opinions.
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