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.
Gaining Perspective on Stock Market Volatility
By Mike Earl, CFP®, CPWA®
One of the most important rules of investing is this: tuning in to media sources (be they financial or general) will not help you be a better investor. In fact, it will likely make you a poorer investor.
Does it help you to know how much the Dow, Nasdaq, or S&P 500 moves in a given day? If the Dow is down 200 points today, will that alter your investment strategy? Will it alter your mood?
Furthermore, point movements on the Dow are misleading. As I write this piece, the Dow Jones Industrial Average (which consists of just 30 stocks out of more than 3,500 total publicly-traded stocks in the US) trades at about 24,750 points. Is a 100-point move a big deal? How about 200 points? Let’s do some math on that:
You might feel crummy when your TV flashes in bright red print, “Dow down 300 points today.” But then you must realize: that’s just 1.2%! Sure, it’s not a good day, but it ain’t all that bad.
The news headlines should simply quote percentage declines or gains, rather than quoting points gained or loss. This would be much less sensational.
Historical Perspective
Contrast those figures above with where the Dow was about 10 years ago, when the stock market bottomed in March 2009. At that time, the Dow traded down to about 6,550 at its low. A 300-point decline at that time was equivalent to a 4.50% decline. To equal a 4.50% decline today would mean a drop of more than 1,110 points.
Is the Dow a good indicator of the US stock market?
If you do want to track a single barometer of the US stock market, you are better off paying attention to the S&P 500 Index, which (aptly named) measures the cumulative performance of the approximately 500 largest companies in the US.
Has the stock market been more volatile under President Trump?
Being the active Twitter user that he is, President Trump has certainly demonstrated an ability to move global markets. The consensus perception seems to be the stock market is more volatile than normal due to President Trump. A neighbor of mine recently remarked how it had been a “crazy” year in the stock market. That comment puzzled me, as things haven’t seemed crazy to me at all. Even following the recent decline of about 6.5% since the start of May, the S&P 500 Index is still up nearly 10% for the year (as of 6/3/19).
So, the question remains: is the perception of higher volatility under President Trump in accord with reality?
There are many ways of empirically measuring stock market volatility. One simple (and effective) way of doing so is recording the number of days with returns greater than +/- 2%. That is, record the number of days the stock market returns 2% or more in a day – or 2% or less in a day.
President Trump was elected nearly 31 months ago, and he has been in office for 28.5 months. During his time in office, the US stock market has had a total of 23 days with +/- 2% moves in the S&P 500 Index. Interestingly, we had zero such days in 2017, and then 20 such days in 2018. This follows the usual cyclical patterns we see in various aspects of stock market history.
Since 1950, the average number of days per year with single-day moves of +/- 2% or more is 11. Under President Trump, we have averaged about 9.7 days per year.
Therefore, the data thus far shows the stock market has been slightly less volatile (overall) under President Trump. However, volatility ebbs and flows, paying no mind to whom is in office. One of the best things to do is remember all the past crises our country has come through (The Great Depression; The Great War; World War 2; The Vietnam War; The Cold War; The Tech Crash and 9/11; The Great Recession). When you think about all of those tremendously challenging times, the recent bit of Trade War with China talk pales in comparison.
What does this mean to you, our client?
You are investing for the long road. Short-term market fluctuations should not affect your investment strategy, as you are planning for many decades — not for the next year or two.
Source:
1) https://us.spindices.com/indices/equity/sp-500
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.
The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material, and is not a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary. Past performance does not guarantee future results.
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