RETROSPECT
V O L U M E V
MID-YEAR REVIEW
July 2024
V O L U M E I V
Table of
Contents
Introduction
Markets and More
Mid-Year Market Recap
Looking Ahead to 2025
Our Value
Does Your Business Need an Advisor?
Will’s Watchlist
Navigating Generations
Team Updates
Ahead of the Elections
Our Team
02
03
04
06
08
10
13
14
17
MID-YEAR MARKET RECAP
As we continue
through 2024, we’d like
to reflect on the
events, trends, and
other developments
thus far that defined
our economics, policy,
business, and culture,
and look at what the
rest of the year has in
store.
Casey, Mark, et al. “Separating AI Hype from Investment Opportunity.” CapitalGroup NACG, 3 May 2024, www.capitalgroup.com/ria/insights/articles/separating-ai-hype-investment-opportunity.html.
Aliaga-Díaz, Roger. “Why We Expect the Fed to Remain Cautious.” Vanguard, 13 Mar. 2024, advisors.vanguard.com/insights/article/why-we-expect-the-fed-to-remain-cautious.
2 RETROSPECT
It’s natural for investors to look for a connection between who wins the White House
and how financial markets will respond. However, the outcome of an election is only
one of many inputs to the market. The economic data for nearly 100 years of U.S.
presidential terms shows a consistent upward march for U.S. equities regardless of
the administration in place. This is an important lesson on the benefits of a long-
term investment approach.
Election Season
The AI hype cycle has continued to gain fuel
as businesses and individuals quickly adopt
AI tools. OpenAI, the developer of ChatGPT,
has reported over 100 million weekly users
by the start of 2024, including two million
developers and over 90% of Fortune 500
companies. Investor excitement has
turbocharged share prices for the most
visible enablers of generative AI, including
NVIDIA, Meta Platforms, and Microsoft, an
investor in OpenAI.
Companies have been experimentally
implementing AI features to improve
efficiency and productivity. From scientific
and medical discovery, product
development, industrial and robotic
automation, and IT services, businesses are
taking advantage of AI capabilities.
Rather than focusing on attention-grabbing
headlines about massive job loss or the rise
of sentient robots, notice the declining cost
of AI adoption, the advancement in
generative models, and identifying early
adopters that use the technology to gain a
competitive advantage.
As of mid-April, the latest inflation and
labor market data imply that U.S.
production of goods and services remains
healthy and underscore our view that
continued economic strength might
prevent the Federal Reserve from cutting
interest rates in 2024.
Faced with persistent inflation above its
2.00% target and the risk of financial
conditions easing too rapidly, the Fed will
move cautiously and likely maintain its
federal funds rate target around its
current range of 5.25% to 5.50% for the rest
of 2024.
Given policy interest rates aimed at
subduing inflation by restricting economic
activity, we would not have expected GDP
growth as robust as 3.0% in 2023. We
foresee economic growth around 2.0% for
2024 and a year-end unemployment rate
around 4.0%.
Artificial Intelligence Hype
Economy & Markets
LOOKING AHEAD TO 2025
Markets have been on edge lately
about when the U.S. Federal
Reserve plans to cut rates. With the
Fed set to issue an update to its
closely watched dot plot, it’s good
to remember that historical
projections can be poor predictors,
especially when the Fed is
determined to remain ‘data-
dependent’ and market events
remain fluid. As the chart above
shows, the Fed ‘dots’ have
historically been an inaccurate
indicator of where the federal funds
rate has ultimately gone.
The 2024 Paris Summer Olympics are quickly approaching. They are scheduled
to take place from July 26th to August 11th. This marks exactly one century
since Paris last hosted the Summer Olympics in 1924. The event will be
broadcast by NBC, with coverage by Snoop Dogg.
The Rest of 2024
Casey, Mark, et al. “Separating AI Hype from Investment Opportunity.” CapitalGroup NACG, 3 May 2024, www.capitalgroup.com/ria/insights/articles/separating-ai-hype-investment-opportunity.html.
Aliaga-Díaz, Roger. “Why We Expect the Fed to Remain Cautious.” Vanguard, 13 Mar. 2024, advisors.vanguard.com/insights/article/why-we-expect-the-fed-to-remain-cautious.
Where are rates headed?
The U.S. economy continues to grow
at a healthy pace despite a
significant increase in the fed funds
rate to its current range of 5.25% to
5.50%, a 23-year high. The
International Monetary Fund (IMF) is
now predicting that the U.S.
economy will expand this year at
more than twice the rate of other
major developed countries.
Although the Fed's efforts to combat
inflation have been successful,
inflation remains significantly above
the Fed's 2% target.
RETROSPECT
INDEPENDENT AND PERSONALIZED
We are not beholden to a large corporation that mandates
a pre-determined portfolio. Investment selection starts
with a discussion and plan customized to your needs.
FIDUCIARY DUTY
We are not a broker-dealer claiming to recommend
“suitable investments.” We are a fiduciary registered with
the SEC, which requires us to put our clients’ interests
ahead of our own.
SECURE INVESTMENTS
We offer a range of secure investments, such as U.S.
Treasury Securities or Certificates of Deposit. Additionally,
our custodian bank, BNY Pershing, maintains insurance
and SIPC coverage in the unlikely scenario of failure.
OPEN ARCHITECTURE
We don’t have one entity we rely upon for investment
selection. We are not required or encouraged to “push”
any investment idea.
OUR VALUE
4 RETROSPECT
COMPREHENSIVE SERVICES
We don’t just talk about additional services such as estate
planning, business succession, and comprehensive asset
reporting like others; we practice these every day. We
have extensive experience in generational wealth and are
deeply connected to our clients' teams of attorneys and
CPAs.
TRANSPARENT FEES
Unlike others, we don’t charge commissions. We disclose
all fees and charges related to the investments our clients
own. We charge a fee that is matched to our services
provided and based on the assets invested, meaning our
success is directly tied to yours.
TAX EFFICIENCY
We maintain strategies to help limit taxation and clarify
investment expenses. By doing this, we are able to save
clients from unnecessary costs and provide value.
We are providers of solutions, collaborating with our
clients as partners in their decision-making.
RETROSPECT
A business financial advisor is a hired
professional specializing in retirement
planning, small business tax strategies, estate
planning, and succession planning. In
essence, a small business advisor acts as
another member of your team and a
strategic partner. As a small business owner,
you’re probably used to performing many
roles yourself and might wonder if you need a
financial advisor or if you can manage
everything on your own. Many of our clients
are business owners who benefit from
“handing over the reins” to certain tasks that
allow them to spend more time running their
businesses and in front of clients.
Do You Need a Financial Advisor
as a Business Owner?
As a business owner, you already have a lot on your plate, and your time in front of your
clients and customers is your most valuable commodity. But who keeps an eye on your
company’s finances? You might have a CPA or accountant to call on during tax time,
but hiring a holistic financial advisor with experience in business planning can help
your company reach the next level.
What is a Business Financial
Advisor and what do they do?
Financial Planning
Tax Strategies
Budgeting and Forecasting
Investment and Retirement
Planning
Estate Planning Guidance
Risk Management
Loan and Financing Guidance
Business Valuation
How we help clients as
business owners:
Managing Investments and Retirement Plans
As financial advisors with over 30 years of experience helping business owners, we will help you
create a personalized retirement strategy that is laser focused through a financial plan. We will
consider factors such as succession, future tax burdens, current savings, etc. We will help you
strike a balance between reinvesting in your business and securing your future.
RETROSPECT
Assessing Market Trends
It’s important for small business owners to monitor market
trends to stay competitive and adaptable. Economic factors
outside your control - like inflation, interest rates, and
regulatory changes - can have a major impact on your
company’s bottom line.
We can help you navigate changes in the broader market and
explain any potential impacts on your company. Having
another person keep an eye on industry shifts and consumer
behavior might help you get ahead of the competition or at
least better prepare for possible roadblocks.
With our connections throughout the community and
through other business owners, we can even help connect you
to private financing & equity investments in your business.
As a small business owner, you face many unique financial challenges,
including managing your personal and business finances. Working with
Olistico Wealth is an investment in your company’s future. We can help
you navigate retirement and long-term financial planning, acting as a
strategic partner as your company grows. In short, as fiduciaries, we put
your interests and goals ahead of our own because when you’re
successful, we are too.
Bottom Line
Succession planning secures your business’s future and
safeguards your hard-earned legacy. Yet some small
business owners fail to properly plan for an emergency or
their eventual departure from the company.
A small business financial planner can create a
comprehensive succession plan to safeguard the financial
health of the business.
This could be as simple as a life insurance policy or more
complex, like a contingency agreement with another
business to buy the owner’s family out in the event of death.
Many ignore succession planning, but because the business
is most likely the owner’s most valuable asset, it needs a
plan to support it.
Creating a Succession Plan
RETROSPECT
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Will's Watchlist
LoFi is the latest culinary sensation to hit Cherry
Street in Tulsa. Guests can indulge in mouth-
watering pizza and charcuterie, paired with a
range of wines and draft cocktails. The
ambiance is defined by their dedicated DJ
booth and meticulously curated music
selection. So whether it’s for the food or music,
Lofi is the place to go.
Solaire is a locally owned, new pop-up
dining experience located at the Silo Event
Center in Tulsa, OK. Run by two local chefs,
the concept focuses on serving small-scale,
elevated food from different cultures and
providing an easy-going, comfortable
atmosphere that encourages community
and conversation.
Solaire Tulsa
LoFi Pizza & Wine Bar
back by popular demand
rise | Soufflé Restaurant
*coming soon
Rise is an intimate salon de soufflé and
wine bar designed with French influence.
The relaxed bistro focuses on the soufflé—
the masterpiece of French cuisine.
Opening in late summer 2024, the CEO of
Rise said Utica Square checked all the
boxes for their first out-of-state location.
RETROSPECT