Weatherly was proud to help sponsor Just in Time’s annual “Pathways to Financial Power” conference. This event aims to help transition age foster youth achieve financial stability through networking, career exploration and resources as well as a “Shark Tank” inspired competition where program participants can secure funding by pitching their business ideas to a panel of judges. In addition to our sponsorship, Andrea Taylor is volunteering as a 1-on-1 coach for JIT’s Financial Fitness 102 program this fall. The eight-week program helps participants build personal finance skills in budgeting, saving, investing, credit, loans, and cybersecurity, while working towards establishing an emergency fund for long-term financial stability. Learn more about Just in Time for Foster Youth at: https://jitfosteryouth.org/
Weatherly Asset Management, L.P. was included in the 2019 Financial Times 300 Top Registered Investment Advisors list. This list was published in print and online on FT.com, on June 27, 2019. View our inclusion on the list here.
The selection process for the Financial Times 300 (“FT 300”) is based on the largest independent Registered Investment Advisors across the United States that meet the below criteria:
To qualify as a candidate for the FT 300, an RIA firm must:
- Manage at least $300 million in assets under management (as of 12/31/18)
- Have no more than 75% of its practice’s assets be institutional
- Be independent (it cannot be the RIA arm of a broker-dealer, for example)
Financial Times invited more than 2000 SEC registered RIA companies across the US who reported $300mm or more in AUM to participate in the review process. Some 740 RIAs applied, and 300 made the final list.
Qualified RIAs were required to fill out an online application, and were evaluated on several factors including AUM, AUM growth rate, years the firm has been in existence, industry certifications of staff, SEC compliance report, online accessibility and other factors such that the final list should include a diverse range of practice types. AUM comprised roughly 70 to 75 per cent of each adviser’s score, while asset growth accounted for an average of 15 percent.
Additionally, FT capped the number of companies from any one state. The cap was roughly based on the distribution of millionaires across the US. The research was conducted on behalf of the Financial Times by Ignites Research, a Financial Times sister publication.
The 300 firms were listed by state and alphabetically by business name. Weatherly paid Financial Times for custom hard copy reprints and digital access after the list was published. Wealth managers do not pay a fee to be considered or placed on the final list.
No organizational memberships were required of the Firm or individuals. Inclusion on this list is not representative of any one client’s experience and is not indicative of Weatherly’s future performance. Weatherly is not aware of any facts that would call into question the validity of the list or the appropriateness of advertising inclusion in this list.
About Weatherly Asset Management, L.P.
Weatherly Asset Management, L.P. is a Registered Investment Advisor, located in Del Mar, California, dedicated to providing high quality, holistic and innovative wealth management services to high net worth individuals, small businesses and institutional clients since inception of the Firm in 1994.
Our comprehensive approach to all aspects of a client’s financial life, the extensive experience of our principals, and the accessibility of experts, set us apart from other firms.
Our primary business focus is money management, with each account individually managed to maximize wealth preservation and growth over time. We also provide advice related to retirement planning, tax planning, philanthropic planning, financial planning and college planning, as well as estate planning and wealth transfer guidance. Our goal is to provide clients with as much information as necessary to effectively manage portfolios and help achieve their financial goals.
Weatherly Asset Management, L.P. is the investment advisory division of Weatherly Asset Management, Inc. As an independent partnership, the Firm is wholly owned and operated by the partnership.
For information on our wealth management team, and for a full list of services we provide, please visit: http://www.weatherlyassetmgt.com/team/
For information on our ADV filings and Compliance, please visit: http://www.adviserinfo.sec.gov/IAPD/IAPDFirmSummary.aspx?ORG_PK=106935
http://www.weatherlyassetmgt.com/adv/
If you would like to learn more, please contact:
Carolyn P. Taylor
858-259-4507
Leo Tolstoy once said, “Spring is the time of plans and projects.” The Weatherly team continues to grow and flourish as Spring brings opportunities for growth and change. We are excited to provide you with updates on our Firm and upcoming plans and projects for the second half of 2019.
Education is a cornerstone of Weatherly’s culture, clients and community. Since 2015, Carolyn P. Taylor has been a Vistage group member, also completing the pilot Vistage Executive Leadership Program through Stanford Graduate School of Business in 2017. To further augment our Partners’ leadership capabilities, this year Brent Armstrong, CFP® joined a complimentary Vistage chapter and Kelli Ruby, CFP® began coursework in their Emerging Leaders program. Cole Hansen achieved his CFA designation in May 2019 and both Cole and Brooke Boone, CFP® were promoted to Wealth Management Advisors this June. Lindsey Fiske-Thompson was promoted to Partner at the Firm in 2019, contributing vastly to the success of our team with a focus on strategy and resources.
In further pursuit of education and after 9 years with WAM, Ashley Copp, CFA is returning to school full time to complete her MBA. We are excited to see her growth in the private equity and sustainability space.
After two decades of dedication to Weatherly, Candise Holmlund, CFA, CFP®, TEP, AEP® has transitioned from WAM as of May 23, 2019. Her commitment to mentoring developing members of our team will enable a smooth transition for clients to experience the same great continuation of advisory services that has always been provided to them. The team wishes her all the best.
Community and philanthropy remain an integral part of the work we do with clients and our team. Our next volunteer event with Feeding America is slated for this summer.
This month’s team blog focuses on longevity as many of our clients transition from “working” full-time, and our eagerness to help clients craft a plan with impact on business, family and community. Providing financial input, resources and a sounding board are the focus of our blog today. It’s about asking yourself “what do I want to explore?” and “what do I have to offer?”
Read our blog here – Longevity – Transitioning with Continued Impact
Stay tuned for details regarding our client appreciation event coming this fall!
Modern medicine and healthier lifestyles have extended the life expectancy curve over the past 50 years, with the current life expectancy rates in the US just shy of 80 years old. Life expectancy has increased about 3 months per year for some time, with women outliving men and at the upper end of the curve. The 1950s planning model suggested individuals retire at or around age 65, with about 10 years in retirement until their plan ended at age 75. Now, we plan to age 95 for our clients, stretching retirement about 30 years.
Thirty years in retirement can feel like a long time! We often see clients asking themselves “what do I want to explore?” and “what do I have to offer?” during this phase of life. Advisors and Financial institutions like Fidelity strategize about how to plan for a long and impactful retirement.
We start with the financial plan. Like we’ve talked about many times before, a solid financial plan allows us to forecast spending and income in future years, accounting for market volatility and unplanned expenses. We look 5 to 10 years to the future, and if retirement is on the horizon we make a plan to transition our clients from their “working” years, which may have been a 9-to-5 career, to focus on goals and interests that create impact.
This transition looks different for everyone. A recent MarketWatch article highlighted the psychological effects that come with retirement – when your job is a large part of your identity, there might be anxiety about next steps. We have some options for those that aren’t quite ready to plan for transitions from full-time work.
Consulting – Many of our clients achieve a great amount of fulfillment with their current careers and prefer to transition out of retirement at a slower pace. Many times, this results in a consulting opportunity, shifting from W-2 wages to 1099 income. Individuals are contracted as sole proprietors and often have more flexibility in the hours, projects and people with which they work. They may lose the benefits they received as a full-time employee, like medical benefits and 401k contributions. Advisors like Weatherly can add value by suggesting alternative retirement strategies such as Self-Employed 401ks to bridge the gap and squirrel away more money into tax-deferred vehicles when starting to live off of investment assets, Social Security, rental income or Required Minimum Distributions.
Volunteer Work – There are a multitude of causes to volunteer time and expertise in retirement years. Sometimes this can lead to part-time paid work with a charitable entity or development of a curriculum that is used in after-school programs. If you develop a program or curriculum for an organization that may be used by others, it’s important to look at the appropriate patents or licensing – like a Creative Commons license.
Mentorship or Boards – Not all folks have the benefit of positive mentors to help them make critical life decisions; advice on college, first apartment, first car and job changes are paramount to young individuals. A recent NY Times article highlighted generational benefits in learning life balance. There are organizations that combine the positive impact of both volunteerism and mentorship – for example, Just in Time helps foster youth transition out of care and into the “real world.” The relationships work both ways – sometimes with millennials mentoring an older generation as witnessed here.
Board memberships are also a great way to offer expertise in an impactful way. Corporate boards may offer a pay incentive, while non-profit boards are typically on a volunteer basis. Corporate board guidelines are also undergoing change, requiring more diversity and providing expanded opportunities.
Education – Just because you are retired, doesn’t mean you stop learning. Time off of work can allow you to hone in on new skill sets or subject matters that have always been of interest to you. We continue to educate ourselves at Weatherly, and encourage clients to do the same. There are several ways to audit classes, even including those taught at Ivy League Universities. This article provides links to 107 free classes available to anyone. We have seen many clients return to part-time or full-time schooling, offering a new expertise to create impact in different areas.
Art – Retirement often brings out the creative side in people and sometimes that can turn from a hobby into a business. We see a variety of skills with our client base, from sculptors, to jewelry making, to photography and pottery, our artist clients run the gamut. Many create holiday gifts for family and friends, and others sell their art for profit. We can suggest the appropriate bookkeeping and accounts to segregate expenses and income for clear tracking. Using a separate accounts for business expenses, and software like Quickbooks allow artists to focus on their craft instead of financials.
We are personally fulfilled when we see our clients succeed – whether that is in their current career, through a smooth transition or the impact they make on their families and communities. As recently as this week, we had a conversation with a client who reminded us that “the only constant in life is change!”
** The information provided should not be interpreted as a recommendation, no aspects of your individual financial situation were considered. Always consult a financial professional before implementing any strategies derived from the information above.
This quarter, our team made our annual visit to Feeding America, San Diego headquarters. For our day of volunteering, we helped the distribution center sort over 6,000lbs of tomatoes and prepped them to be delivered to various food distribution locations within the San Diego County. Amid environmental crises, and the daily struggles families face with hunger, our team was reminded of the huge impact this organization has on the community.
It’s that time of year again! The Susan G. Komen 3 Day walk came to San Diego this past weekend and the Weatherly Crew got the chance to cheer on the walkers as they started their 60-mile trek in Del Mar. The team got all dressed up in pink and handed out water to the walkers to show our support for the cause! Please visit the Susan G. Komen San Diego website at http://komensandiego.org to learn more!
Each year, The Susan G. Komen 3 Day walk comes to San Diego and Weatherly Asset Management gets a front row seat! This November, we set up a refreshment stand and decked ourselves out in pink gear to show support and encouragement for the walkers who set out to raise awareness and funds for breast cancer research. To learn more about the walk, and how you can get involved with this cause, please visit the Susan G. Komen San Diego website at http://komensandiego.org