18 Jan January, 2018 Mid-Month Udpate
We are now officially moved into our new offices and can’t wait to have you all see our new facilities. Now when you come you will have parking available right at the front door! Remember, our new address is:
14620 Hertz Quail Springs Parkway
Oklahoma City, OK 73134
Our phone numbers and email addresses remain the same. If you need specific directions, let us know and we can send you a map and directions as to where we are now located. Be sure to call us today to schedule your review at our new location.
The New Year is Here and Tax Time is Coming Again:
Trust Company of America has notified us of the time frame for sending out your 2017 tax information:
January 31, 2018: Form 1099-R (for all retirement accounts) and the 2018 Required Minimum Distribution from IRA account if you are age 70 ½ or older. We will assist you as we have every year in the past to complete the RMD prior to year-end.
February 15, 2018: Tax forms for all taxable accounts, including Forms 1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID (as applicable) will be mailed to all account owners.
As always, the information for taxable accounts can be directly downloaded into most tax preparation software programs to make the tax reporting process more streamlined and efficient. We can provide this to your tax preparer for you if you choose. Just let us know if we can help in any way at tax time to make the process less stressful.
Trust Company of America to be Acquired by E-Trade Financial:
Late last year Trust Company announced the intentions of E-Trade to acquire them and the merger will be effective sometime during the late first quarter/early second quarter of this year. We are hopeful this will make more financial products and services available to you, our clients, later this year. We will monitor this change and keep you appraised. You will most likely receive a separate mailing from Trust Company later this month announcing this alliance. There is nothing you need to do regarding this change, but please feel to call us if you have any questions whatsoever.
The U.S. financial markets have started out the New Year strong, with the major U.S. stock indices reaching new highs through yesterday’s close. As of January 17th, the 30 Dow Industrial Average has gained 5.65% so far this year. As we have said many times, the Dow consists of only 30 stocks and is a “price-weighted” index, so it doesn’t necessarily reflect the movement within the broader market indices. The Standard & Poor’s 500 stock index is now up 4.60% through yesterday’s market close and consists of 500 stocks. (Google Finance)
Interest rates have inched higher this year, with the yield for the 10 year U.S. Treasury sitting at 2.58% as of the writing of this newsletter. Last month the yield touched 2.44%. (Yahoo Finance) Bond prices move opposite yields. Mortgage rates are now at 4.0% for a 30-year fixed-mortgage and 3.37% for a 15-year rate based on the national average. (Bankrate.com)
We had repositioned several positions we held in our clients’ ‘taxable’ accounts in an effort to try and benefit as much as possible from any losses we could take against 2017 taxes. We will be “Re-Balancing” all of our clients’ portfolios at the end of January in order to be positioned for what we see moving forward. The economy appears to be continually improving, and so far this year, the optimism remains to some degree for both individuals and corporate America as far as economic growth, taxes, jobs, and wages are concerned. If we do see some type of dip in the markets over the next week or two, it could actually benefit our client accounts when we re-balance portfolios. As mentioned in our year-end newsletter, we are well overdue to some type of correction, but don’t anticipate it being too negative or long lasting. Focus this week is on the possible Government shut-down (again), but we’ve been here before and the financial markets as of this date don’t seem overly concerned. We will keep posted.
It’s Time for Your Personal 2017 Year-End and 2018 Outlook Review:
Please be sure to call us today to schedule your personal review this quarter, either in-person or vial Go-To-Meeting online. Now is the perfect time to review your long-term plan, discuss tax law changes, and receive a personal update on your overall investment portfolio and risk. Call us TODAY!
We appreciate the privilege to serve each and every one of you and look forward to working together in the years to come! Let’s all have a great 2018 in every way possible!
Your TEAM at F.I.G. Financial Advisory Services, Inc.
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