February 1, 2023
Fed Statement Side-by-Side: https://file.ac/QIEfaKSk2vI/ Fed raises interest rates by 0.25%, bringing the Fed Funds Rate range to 4.50-4.75%. The market is now lower than the fed, pricing for a terminal rate of 4.75-5.00% before 75-100 bps of cuts in late 2023 & early 2024. Key takeaways: The Fed raised interest rates 0.25%, as expected, to […]
Read MoreJanuary 26, 2023
Growing up in Birmingham, Michigan, sports were a big part of Bill Feldmaier’s life. From little league baseball to playing quarterback at Birmingham Seaholm and earning a full athletic scholarship to the University at Buffalo, he enjoyed the camaraderie, competition and strategy required to lead winning teams. For 22 years, Bill worked in the institutional […]
Read MoreJanuary 26, 2023
Greenleaf Trust is proud to announce diversity and inclusion certification for Lisa Luebke.
Read MoreJanuary 26, 2023
Andrew Edgar, Gabbi May and Quincy Jackson join the team at Greenleaf Trust.
Read MoreJanuary 26, 2023
This morning, the Bureau of Economic Analysis delivered an advance estimate of fourth quarter GDP growth. The report showed that real GDP expanded at an annual rate of 2.9%, compared to expectations of +2.6%, following growth of 3.2% in the third quarter.
Read MoreJanuary 17, 2023
Greenleaf Trust announced today that Bill Feldmaier is joining the company as managing director of southeast Michigan located in its Birmingham office. With more than 20 years of experience in the institutional pension, 401k and retirement space, Feldmaier will be responsible for market strategy, business development and leadership of the Greenleaf Trust’s Birmingham office. He will be working throughout southeast Michigan to grow the firm’s personal trust, family office and retirement plan business.
Read MoreJanuary 24, 2023
Senior Estate Settlement Officer Alexandria Solis-Mullen was featured in Money Geek article on managing taxes on life insurance proceeds.
See MoreJanuary 18, 2023
U.S. retail sales fell by more than forecast in December (-1.1% MoM vs. -0.9% expected) with a real year-over-year decline of 0.5%. While real year-over-year retail sales declines can be a leading indicator of a recession, softness is also an indication that Fed efforts to reduce consumer demand, and in turn inflation, is having an impact.
Read MoreJanuary 9, 2023
Chief Investment Officer Nicholas Juhle, and Assistant Director of Research Chris Burns offer their review on the markets and investments in 2022, and their outlook for 2023.
Read MoreJanuary 9, 2023
Greenleaf Trust is pleased to share Financial Accounting Analyst Marisol Quiroz’s successful completion of her Certified Public Accountant designation. To earn the CPA designation, Marisol completed her Masters in Accountancy at Western Michigan University, passed all four sections of the CPA exam and had to demonstrate her abilities over at least 2,000 hours of application. […]
Read MoreJanuary 9, 2023
Greenleaf Trust is pleased to announce the promotion of Christine M. Hansen, CPA to assistant vice president, finance. Christine is responsible for the corporate accounting, taxation and financial reporting functions. She ensures compliance with regulatory and governing requirements and partners with third party accounting firms to administer financial audits.
Read MoreJanuary 6, 2023
Solid hiring and decelerating wage growth may offer Fed some breathing room. U.S. employers again added more jobs than expected in December and the unemployment rate edged lower while wage growth decelerated more than expected and participation increased slightly. Today’s report highlights resiliency of the labor market, but may also be an early indication that the persistent imbalance between the supply and demand for labor is beginning to unwind. A sustained deceleration in wage growth could lead Fed officials to pursue less aggressive policy moves in the coming months.
Read MoreJanuary 5, 2023
One of the things that makes us unique is our talented team. They are deeply committed to the work they do for our clients and deserve meaningful recognition for their achievements. At the end of the year, we announced the following 29 promotions. These were teammates from throughout the organization that successfully executed customized purposeful growth plans with their coaches. Promotions are always based on merit and impact at Greenleaf Trust, not time in role. Needless to say, I am extremely proud to recognize these teammates and share their new titles with you.
Read MoreJanuary 5, 2023
Arguably, 2022 was one of the more challenging of the past 25 years. We experienced high inflation that extended throughout the economy and induced monetary policy surprises as central banks tightened in response. Russia’s invasion of Ukraine shocked commodity prices exacerbating inflationary pressures and accelerating monetary policy changes. As the year progressed, tighter policy caused activity in the housing market to slow dramatically and the combination of these factors significantly increased the likelihood of a recession. Relative to when the year began, all of these developments came as surprises.
Read MoreJanuary 5, 2023
As we look for opportunities to serve our clients better, we begin by listening to those that matter most – our clients.
Read MoreJanuary 5, 2023
Many individuals have durable powers of attorney for health care, or advance directives, as part of their estate plan. These documents appoint a surrogate, or patient advocate, to make health care decisions for them when they are unable to do so in a hospital setting. An advance directive is effective only after two physicians have certified as part of the patient’s medical record that the patient is unable to participate in their own health care decision-making. As such, there are conditions to when an advance directive becomes effective. Nor is a durable power of attorney for health care in the form of a medical or physician’s order.
Read MoreJanuary 5, 2023
In late October of 2022, the IRS published the inflation adjusted limits for transfer taxes for 2023. The Applicable Gift and Estate Exclusion Amount increases to $12,920,000 per individual up from $12,060,000 in 2022. For those individuals who have used their full exclusion amount, they now have an additional $860,000 to give without incurring gift tax. This exclusion is the amount that an individual may transfer during their lifetime or at their death without incurring gift and estate tax.
Read MoreJanuary 5, 2023
The year 2022 ushered in significant events in the industry in many areas. Some were more impactful than others, but a few are worthy of review.
Read MoreJanuary 5, 2023
January 3, 2023
Allison Birmingham has been promoted to assistant vice president, senior wealth management advisor. Anne Bohl has been promoted to senior wealth management coordinator. Patrick Bruining has been promoted to senior trust operations analyst. Chris Burns has been promoted to vice president, assistant director of research. Gabrielle Contesti has been promoted to senior project manager. Wendy […]
Read MoreJanuary 3, 2023
Julie Weston has been promoted to special asset associate on the estate settlement team. She is responsible for the management of special assets in the settling of estates. She has over ten years of experience in client service. Julie earned her bachelor’s degree from Western Michigan University and a master’s degree from Walden University. Joel […]
Read MoreJanuary 3, 2023
Family office wealth strategist receives CFP® Certification Family Office Wealth Strategist Brittany Szymczak, CFP®, CPA has been authorized by the Certified Financial Planner Board of Standards (CFP Board) to use the CERTIFIED FINANCIAL PLANNER™ and CFP® certification marks in accordance with CFP Board certification and renewal requirements. Brittany is responsible for providing comprehensive family wealth […]
Read MoreDecember 20, 2022
Chief Investment Officer Nicholas Juhle, CFA was featured in a Nerd Wallet article on How to Buy Treasury Bonds. Read more here.
See MoreDecember 19, 2022
Chief Investment Officer Nicholas Juhle’s commentary was recently featured in US News & World Report article on stock market trends for 2023. Read more here.
Read MoreDecember 19, 2022
Greenleaf Trust is proud to announce that it has been recognized as an “Inclusive Workplace” by Best Companies Group, a workplace culture and employee engagement expert, and COLOR Magazine, a leader in corporate inclusivity.
Read MoreDecember 19, 2022
Wealth management associate and trading specialist receive CFP® Certifications Wealth management associate Brian Schafer, and trading specialist Mollie Felt have been authorized by the Certified Financial Planner Board of Standards (CFP Board) to use the CERTIFIED FINANCIAL PLANNER™ and CFP® certification marks in accordance with CFP Board certification and renewal requirements. Brian is a member […]
Read MoreDecember 19, 2022
Wealth Management Advisor Brian Farrell, CFP® was featured in Money Magazine.
See MoreDecember 15, 2022
U.S. retail sales posted the largest month over month decline in nearly a year reflecting softness in a range of categories that suggest some easing in American’s demand for goods. The report suggests some loss in momentum in consumer demand for goods amid high inflation and a shift in preferences favoring services. While rising wages and excess savings built up during the pandemic have helped support spending, consumers are feeling more pressure. While real year-over-year retail sales declines can be a leading indicator of a recession, softness is also an indication that Fed efforts to reduce consumer demand, and in turn inflation, is having an impact.
Read MoreDecember 14, 2022
• The Fed raised interest rates 0.50%, as expected, to a range of 4.25-4.50%.
• Projections for the rate next year were revised upward by 0.50%, from 4.50-4.75% to 5.00-5.25%. This was a hawkish surprise and is impacting risk assets.
• The bond market is unconvinced, and continues to price in a high-point of a 4.75-5.00% rate and then cuts of 1.00% by early 2024.
• Chair Powell noted that the economy appears to be slowing, but continued to characterize the labor market as out-of-balance, and risks to inflation as skewed to the upside.
December 13, 2022
November inflation data surprised positively this morning for the second month in a row offering hope that decades high price increases are easing and perhaps giving Fed policymakers additional breathing room in the months ahead.
Read MoreDecember 15, 2022
Wealth Management Advisor Brian Farrell, CFP® was quoted in Money Magazine. Read article here.
Read MoreDecember 9, 2022
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View PDFDecember 9, 2022
It was May 1985 when I began to write a monthly newsletter to my clients about the economy, financial markets and geopolitical as well as domestic political happenings that had impact on both. Thirty-seven and a half years have flown by (and by some miracle, I didn’t get any older and some would say wiser) and this month’s column is number 450, comprising 1400 pages and over 625,000 words. What started out as an attempt to inform approximately 50 clients now reaches 1200 client relationships, hundreds of estate planning attorneys and CPAs as well as thousands of visitors to our website each month.
Read MoreDecember 9, 2022
In order to serve from generation to generation, it’s important that we continue to grow purposefully in size. There are risks to growing too quickly, and risks to growing too slowly. Purposeful Growth involves growing deeper and broader in our capabilities at a designed pace in order to serve existing and prospective clients better.
Read MoreDecember 9, 2022
Capital gain taxes, as the name implies, are taxes collected on the gains realized from the sale of an investment. In a year of volatile and downward-trending markets, some may assume that no capital gains could have been realized over the course of the year and thus there will be little to no capital gain distributions. This assumption, while understandable, is incorrect.
Read MoreDecember 9, 2022
In their ongoing pursuit of your money and identity, criminals are constantly coming up with new cons. When shopping online during the holiday season – or any other time of the year — there are plenty of opportunities for bad actors to take advantage of busy and distracted online shoppers. Here are a couple of […]
Read MoreDecember 9, 2022
At many times and for many estates, we regret that we were never afforded the opportunity to connect during the person’s lifetime and never learned in their own words what they planned for their legacy.
But what does it mean to plan for your legacy?
December 9, 2022
The Internal Revenue Service (IRS) recently announced the increase to the maximum retirement plan benefit and contribution limits for 2023. Employee contributions to 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan will rise to $22,500 – a $2,000 increase from the $20,500 cap for 2022. Plan participants age 50 and older in 2023 can contribute an additional $7,500 for a maximum of $30,000, up $1,000 from this year.
Read MoreDecember 9, 2022
Following extremely robust market returns in 2021, and new all-time highs the first week of this year, 2022 has proven to be a challenging year for investors to date. While up from its mid-October lows, the S&P 500 index registered an intra-year drawdown of approximately 25%, while the aggregate bond market didn’t fare much better […]
Read MoreDecember 2, 2022
Good news is bad news. Continued job gains highlight strong demand, but offer little relief for the Fed. U.S. employers again added more jobs than expected in November and wages increased more than expected underscoring continued labor market strength despite rising interest rates and concerns of an impending recession.
Read MoreNovember 22, 2022
Greenleaf Trust, a Michigan-chartered wealth management firm with $17 billion in assets under advisement*, announced that it has been recognized as a 2022 National Best and Brightest in Wellness winner after being named a Michigan winner earlier this month.
Read MoreNovember 16, 2022
The Chief Financial Officer for Greenleaf Trust Steve McKiddy was honored on Thursday, November 10 with the first annual Western Michigan University Homer Stryker M.D. School of Medicine Philanthropy Volunteer of the Year Award at the Medical School’s donor appreciation luncheon. Read More
Read MoreNovember 16, 2022
U.S. retail sales posted the largest month over month increase since February and real growth of 0.6% year-over-year indicating that demand for goods is broadly holding up despite decades high inflation and a deteriorating economic outlook. While real year-over-year growth in retail sales tends to be an indication of economic health, consumer resilience may complicate […]
Read MoreNovember 17, 2022
November 17, 2022, Kalamazoo, MI – Greenleaf Trust, a Michigan-chartered wealth management firm with $17 billion in assets under advisement*, announced that it has been recognized not only as one of Michigan’s Best and Brightest in Wellness but as an Elite Winner in Participation and Incentives. Winning companies were recognized at the “Michigan’s Best and […]
Read MoreNovember 16, 2022
Greenleaf Trust is pleased to share Chief Financial Officer Steve McKiddy was honored November 10, 2022 with the first annual Western Michigan University Homer Stryker M.D. School of Medicine Philanthropy Volunteer of the Year Award at the medical school’s donor appreciation luncheon. Steve has been the Chairman of the Dean’s Circle of Leadership Giving for […]
Read MoreNovember 10, 2022
October inflation data surprised positively this morning offering hope that decades high price increases are easing and perhaps giving Fed policymakers some breathing room in the months ahead. The Consumer Price Index rose 7.7% from the same period a year ago compared to expectations of +7.9%. In addition to beating expectations, October CPI was the […]
Read MoreNovember 7, 2022
All of us experience the realization that the hands of the clock spin at greater velocity every year. The fade of winter is briefly replaced by budding tulips before the fireworks for the Fourth of July light up the summer sky. I truly love college football and can’t yet imagine that we are in the […]
Read MoreNovember 7, 2022
Receiving an award can be quite gratifying especially if it validates your hard work on something you are passionate about. We are passionate about and work hard on our culture. The culture at Greenleaf Trust is an expression of our core values and a big part of what differentiates us in the marketplace. Beginning in […]
Read MoreNovember 7, 2022
Russia and Ukraine are significant producers of crude oil and natural gas commodities essential to the energy industry. The Russian invasion of Ukraine has caused significant disruptions in these energy sources, particularly for Europe. With winter around the corner, now is an appropriate time to provide a primer on the situation. This article will focus […]
Read MoreNovember 7, 2022
Often an individual will say that they are too old to engage in a Roth IRA conversion. Their fear is that the tax-free benefits of owning a Roth IRA with a shortened life expectancy will be outweighed by the up-front income tax cost that comes with the Roth conversion. The reality is that an individual […]
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