Retrospect Volume V

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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

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