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Genovese Burford & Brothers Blog

Read the latest posts from the Financial Advisors of Genovese Burford & Brothers.

Markets Recover From Crises

Markets Recover From Crises
There’s an old saying, “May you live in interesting times.” And we certainly have. Sometimes “interesting” means inspiring and wonderful, but other times, it can be downright scary. Even scarier is when those interesting times result in a wild market. Unexpected events can lead to uncertainty, and uncertainty can negatively impact stock prices. But no one has a crystal ball, and uncertainty is just a part of a rich, multi-faceted life.  Also, knowledge is power, and we’re committed to equipping you as best we can with the tools and information you need to weather this storm. Understanding what volatility means in the financial markets is crucial to withstanding times of market movements. While the specific causes are countless, and at times extreme, the root of nearly all volatility is uncertainty. While market fluctuation is an unavoidable part of investing, there are strategies we employ to help avoid long-term negative impact...
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Coronavirus and Market Volatility Update

Coronavirus and Market Volatility Update
Following more volatility in the markets centered around the Coronavirus we wanted to reconnect and give our thoughts.  It has a been a few weeks since our original commentary.  As financial advisors we need to understand and analyze the economic impact of any event but don’t want to downplay the human tragedy of the virus that the world is experiencing. The virus originated in China and has spread to other countries, primarily South Korea, Italy and Iran.  The most recent data that we’ve seen reports there are 80,088 confirmed cases and 2,699 deaths.  While we expect these numbers will continue to increase due to new cases and cases not yet reported, the increase looks to be slowing.  According to Worldometer, total active cases peaked a week ago at 58,747 and has been declining since.  Within the United States borders we have been relatively insulated from the virus with those affected...
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Coronavirus: What's the Financial Impact?

Coronavirus: What's the Financial Impact?
We’ve received a number of calls about the Coronavirus outbreak and thought we’d share our initial thoughts of what the longer-term impact might be on financial markets.  We recognize the human tragedy of the outbreak and understand the concerns about the short-term volatility that similar events have brought to financial markets.  History suggests the long-term economic implications might be fairly benign. According to the CDC (Centers for Disease Control and Prevention), as of January 27th, there have been five positive[1] cases in the United States with two in California.  Details are continuing to unfold.  Conditions in China are more dire and the city of Wuhan is subject to travel restrictions.  Medical reports such as these can be alarming and are reminiscent of other health scares such as the SARS (Severe Acute Respiratory Syndrome), Ebola or the Avian Flu outbreaks.  The timing of the coronavirus development is particularly impactful with it...
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Will You Be Impacted By The SECURE ACT?

Will You Be Impacted By The SECURE ACT?
2019 brought the second major piece of Congressional action in the past 24 months with passing of the SECURE Act (Setting Every Community Up for Retirement Enhancement).  Although not nearly as sweeping as the Tax Cuts and Jobs Act of 2017, the Secure Act of 2019 creates several updates to the rules around retirement plans in an effort to address the so-called retirement crisis.  As with most regulation, what regulation gives in one hand, regulation takes away with the other.  Here are few of the key changes that may impact you most:   Required Minimum Distributions (RMD’s) Pushed Back to Age 72 If you are only planning to take RMD’s to satisfy the IRS, this change is most welcome.  Mirroring current law, individuals reaching age 72 will still be able to delay their first RMD until April 1 of the year following the year for which they must take their...
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Schwab Drops Trade Fees on ETFs to $0, TD Matches

From Investment News, "Just 10 hours after Charles Schwab announced it was eliminating trading commissions on U.S. stocks, exchange traded funds and options starting Oct. 7, rival TD Ameritrade Holding Corp. upped the ante by cutting the same commissions starting Oct. 3." Mike Genovese commented, "We believe Fidelity will follow suit shortly, so all GBB fee-based clients should benefit equally from these cost reductions from our primary custodians." GBB's Investment Director, Rich Cheever, commented, "A price war broke out this month between brokerage firms when Charles Schwab announced that it was eliminating commission for online trading of U.S. stocks, exchange-traded funds and options effective October 7th.  TD Ameritrade has followed suit and eliminated online commission for ETFs and U.S. listed stocks as well.  Fidelity has not made an announcement yet, but we expect that they will be forced to eliminate commissions as well to stay competitive.  The announcement doesn’t impact trading of mutual...
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