February 2023 Market Commentary

by | Feb 1, 2023 | Recent Commentary

An old adage on Wall Street is “don’t fight the Fed.”   Another one is “don’t fight the tape.”  The second rule seems to be a winning out in January.  Bulls and bears can argue about fundamentals (they always do) but both would agree that market technicals are turning...

December 2022 Mid-Month Recap

by | Dec 14, 2022 | Monthly Updates

  During this holiday season, we want to take this opportunity to express our sincere appreciation and gratitude to all of our clients and friends.  Our best wishes to you and your loved ones for a Merry Christmas and Happy Hanukkah!   Where is this year’s...

November 2022 Mid-Month Recap

by | Nov 16, 2022 | Monthly Updates

Sometimes it is hard to find glimmers of hope in the midst of a bear market.  Maybe last Thursday’s 1200 point surge in the Dow was an indication the worst is over.  Time will tell. Seasonals, however, are very bullish right now.  Here is what we mean:  First,...
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
3

Real Retirement Solutions

designed to improve
  • Wealth Preservation
  • Management of Risky Assets
  • Peace of Mind

This is achieved through an ongoing assessment of market risks given your specific financial situation and goals.

Get Started

Professional Expertise

Leadership Team

Richard Furmanski

Richard Furmanski

CFA

has been a portfolio manager and analyst for over 35 years. He manages conservative, tax-efficient portfolios for both pre-retirees and retirees. His lower risk approach appeals to investors who want less volatility and competitive risk-adjusted returns.

View full bio

Mary Ellen Adam

Mary Ellen Adam

Director of Operations

has been in office administration for over twenty years. Her experience includes customer service, firm operations, and office administration. She interacts with our clients on a day-to-day basis and handles any requests that may arise.

View full bio

Frequently Asked Questions

If you can't find the answer to your questions here, feel free to give us a call at 847-847-2505

Do you manage both stock and bond portfolios?

Yes. We build a portfolio of conservative, high-quality stocks and hold them for the long-term. The average holding period is 4 – 5 years. Our focus is on stocks that are suitable for retirement portfolios.

Our high-quality bond portfolios are designed to provide both income and stability of principal. Bonds provide the anchor for balanced accounts (those holding both stocks and bonds).

What is your investment philosophy?
We take great care in purchasing only high-quality stocks and bonds intent on a multi-year holding period. Portfolio turnover and taxable realized gains are modest in comparison to other active managers. We do not time the market but will become more defensive, in terms of stock holdings, when market conditions warrant.
Will the portfolio be managed in accordance with my financial goals?
Yes. Each of our clients has a custom-tailored portfolio. These custom portfolios are designed to meet specific client objectives with a thoughtful approach to specific constraints such as risk tolerance. And as each client’s situation changes, the portfolio does as well. There is no cookie cutter approach.
What kind of expertise do you have and how can that help me in difficult markets?
We have been working with high-net-worth clients like you since 1982. Over that time we have helped them to navigate several bear markets and financial crises (including the stock market crash of 1987). We hold the Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) designations.
Are you sensitive to taxes when managing portfolios?
Yes. Our holding period for an individual stock averages 4 plus years which means our turnover is low and realized gains can be carefully managed. Further, where possible, we tax loss harvest small losses as a way of offsetting gains taken elsewhere in the portfolio.
How have you performed?
Results will differ by client and the level of customization but we have provided competitive investment returns for many years.
How do you charge for your services?
We charge a management or consultant fee based upon the size and level of customization of the account. As the account grows, we benefit together.

Recent Commentaries

Stay up to date with all of our latest comments and analysis.

November 2024 Market Commentary

With an YTD gain of 22.1% through yesterday, the S&P 500 is on pace for its second annual 20% gain in a row....
Read More

October 2022 Market Commentary

Sep 26, 2022

  Here is our annual Q and A of questions most asked by clients: Q             When will the bear market in stocks end? A             It will be hard to know precisely when the bear market ends.  Unfortunately, they don’t ring a bell when the coast is clear. A...

September 2022 Market Commentary

Sep 1, 2022

In the second quarter, the decline in residential investment subtracted 0.7% from real GDP growth. The third quarter has started on a sour note:  July housing starts dropped nearly 20% from their cyclical peak in April. Home builder sentiment for August plunged to its...

August 2022 Market Commentary

Aug 2, 2022

More often than not, when the analysts expectations bar is set low for earnings season (like now), the S&P 500 rallies. Conversely, when the bar is set high heading into earnings season, the markets performance has been uneven. Coming into this earnings season,...

View All

Monthly Updates

May 2023 Mid-Month Recap

May 15, 2023

Stocks remain in no man’s land, with neither side making much progress. This probably helps to explain why the market doesn’t feel much like a bull or bear.  From a technical perspective, we are still in a bear market but remain in a tight trading range.  The S&P...

March 2023 Mid-Month Recap

Mar 14, 2023

BANK FAILURES... MORE TO COME? The “higher for longer” narrative was erased last week in the blink of an eye with the collapse of Silicon Valley Bank (SVB).  Systemic risk to the financial system is one thing that will stop the Federal Reserve’s current rate hike...

As a current or near term retiree you have real concerns…

We provide dedicated solutions
Contact Us

Professional Links

Association Links

Content Links