After a few weeks on the sidelines, My Gut Feeling is back in business. The reason was that after three years of affiliation with Kingswood, LakeView Asset Management (LVAM) made a conscious decision to end that relationship, therefore we had to put MGF on hiatus. We are happy to announce our affiliation with Osaic and can now get back to our regular publication of MGF and Carly’s My Two Cents (M2C).
Several housekeeping items that are necessary before I continue with some market insights:
- I still own 100% of LVAM; LVAM is an Investment Advisor Representative (IAR) under Osaic which acts as the SEC Registered Investment Advisor
- We are in the process of transferring accounts from Kingswood to Osaic. Clients should have received emails requesting that they complete and sign some DocuSign forms to move that process along. I urge you to do so as soon as possible. If you did not receive an email from DocuSign with this request, please check your spam folder. If it is not there, please get in touch with us ASAP and we can resend it to you.
- Our emails have changed. Scott’s is scott@lakeviewasset.com and Carly’s is carly@lakeviewasset.com (note that "asset" is singular, not plural).
- Client accounts will remain at Charles Schwab and the few that were not at Charles Schwab will be transferred there.
- Clients can still access their account reporting and invoices at BridgeFT. However, soon account reporting will migrate to Osaic’s BlackDiamond service. We will email clients later this quarter about how to access BlackDiamond. BridgeFT will sunset at the end of the year.
Another major announcement is that I have passed my insurance licensing exam and am registered in several states where we operate (NV, NJ, NY, SC and soon FL). I can obtain other state licenses if any clients not in those states desire to have me work with them. I will specialize in life insurance and annuities but am also licensed to transact health insurance. If you or someone you know needs life insurance, please let me know. I have begun to reach out to clients who may need life insurance or annuities. When I began this journey into insurance, my reaction to annuities was “heck no!” However, the annuity business has modernized itself to get rid of that old stigma and is now a useful tool for investing and financial planning.
As for the markets, we have had some gyrations. In part, that was due to reactions to political events. In part, it was due to a rotation out of large-cap tech into small-cap stocks, the latter of which was due for a rally. Then, add a dash of FOMC “will they or won’t they” begin to reduce rates. The best way to look at the markets is that we are entering earnings season and the usual summer doldrums. In the summer we tend to have thin markets with a negative bias. After a fantastic half of the year, let’s not get too exuberant; we should welcome some market consolidation, especially in the stocks and sectors that surged in the first quarter.
Lastly, the Florida Panthers won the Stanley Cup as I handicapped. It was their turn.
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Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView Asset Management, LLC held no positions to disclose in the above commentary. The mention of stocks are not recommendations and may not be suitable investments for your individual situations.
Scott Rothbort is the President & Founder of LakeView Asset Management, LLC, (LVAM) an investment advisor representative, specializing in high-net-worth private wealth management. LVAM is a separate entity of Osaic Advisory Services, LLC, a registered investment advisor.
For more information on investing with LakeView Asset Management, LLC call us at 702-749-9343 or request more information by clicking on the contact button on the top right-hand corner of the website or by emailing Scott atscott@lakeviewasset.comor Carly at carly@lakeviewasset.com. LakeView Management, LLC is a Nevada LLC, with its principal office located in Henderson, NV and branch office located in Millburn, NJ
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