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Observations & Insights (10/2/2020) Thumbnail

Observations & Insights (10/2/2020)


We are so proud to announce that Sarah Springer was selected as one of the Advisors on the fourth-annual “Top Wealth Advisor Moms” list, released today by Working Mother magazine and SHOOK Research*. This year’s list has expanded to feature the top 500 mothers working in wealth management today, and is a ranking that measures the best practices of each advisor learned through telephone and in-person interviews, and considers such factors as their service models, investing process, revenue generated for their firms, client retention, and assets under management. 

“We are proud to recognize these smart, ambitious working mothers who are committed to helping their clients economically recover from COVID-19 by advising them on life-defining personal financial matters,” says Subha V. Barry, president of Working Mother Media. “By choosing the path of a wealth advisor, they are able to dedicate themselves to fulfilling careers all while raising a family.”


“During good times or difficult times like the current crisis we’re enduring, families depend on trusted sources for guidance,” says Liz Shook, co-founder and COO, SHOOK Research. “These Working Mother Wealth Advisors represent the best of the best, and epitomize the leadership families want and deserve.” 


The complete list of the 2020 “Top Wealth Advisor Moms” can be found here.

Market Highlights:

  • President Trump: The markets are mixed today after President Trump and First Lady Melania tested positive for the coronavirus. The initial reaction from investors overnight was that the news of a positive COVID-19 test for the president will slow the re-opening process and increases the odds of a Democratic sweep.  If Trump weathers this with no major medical complications, some of that sentiment may reverse. Constant contact and updates from the White House are critical towards projecting confidence to Americans. 
  • Fiscal stimulus: The House passed the $2.2 trillion stimulus bill 214-207, but it currently has little to no chance of passing the Senate. Talks are ongoing to reach a bipartisan compromise, but both sides remain far apart on some issues. The White House has reportedly raised its offer to $1.6 trillion, with $250 billion in funding for state and local governments and $400 a week of additional unemployment benefits.
  • Government Spending: The Senate passed, and Trump signed, a stopgap funding measure to keep the government running through December 11th. Additionally, the Federal Reserve extended restrictions on US banks' dividends and buybacks in a move that was largely expected.
  • Coronavirus update: Trump confirmed this week that the US government will ship 150 million rapid tests to states to help schools reopen. Global coronavirus deaths have now topped 1 million and press reports continue to highlight concerns about colder weather.
  • Spending Trending Up: Spending among the high-income earners (>$100,000) has been slower to recover than spending for lower-income cohorts but, the consumer comfort reading for incomes over $100,000 continues to trend higher. While the measure has gained 17 points since its low back in May, it remains 15 points below the levels it was averaging pre-pandemic. As individuals learn to live with the virus, we would expect this comfort only to grow. 

Good News:

  • Tel Aviv-Yafo Municipality, in partnership with ElectReon and Dan Bus Company, has launched a pilot project to install wireless electric roads for charging public transportation in the city. The pilot, the first of its kind in Israel, will be carried out between Tel Aviv University Railway Station and Klatzkin Terminal in Ramat Aviv – a two-kilometer route including 600 meters of electric road. The pilot project will enable specially-equipped electric buses, capable of being charged directly from under-road electric infrastructure, to travel on the route. Following the completion of tests and integration of the technology within approximately two months, a Dan Bus Company electric bus will commence regular journeys on the route, serving passengers traveling to Tel Aviv University.
  • At a new production facility in Huntington Beach, California, a 50-foot-tall stainless steel tank is filled with 15,000 gallons of salt water, and inside microbes are turning methane—a potent greenhouse gas—into a new material that could simultaneously help tackle the challenges of climate change and ocean plastic. If the material is made into a disposable fork and ends up in the ocean, it degrades as easily as cellulose, turning into a food source for microbes. Restore, the company’s new foodware brand, makes carbon-negative straws that look and feel like plastic. Unlike paper straws, they don’t get soggy. But like paper, the material will naturally break down over time if it happens to be littered in the ocean. The brand also makes single-use forks, spoons, and other items that are typically made from plastic.
  • Magawa, a 5-year-old African giant pouched rat, was recognized with a prestigious honor for his work detecting mines and explosives in Cambodia. Magawa, a 5-year-old African giant pouched rat, was recognized with a prestigious honor for his work detecting mines and explosives in Cambodia. Larger than the average rodent, Magawa, a 5-year-old African giant pouched rat, is part of the “Hero Rat” initiative run by the Belgian nonprofit APOPO, which works across South East Asia and Africa, training rats to save lives by detecting land mines and tuberculosis. Magawa, the most successful rat to have taken part in the program, was trained to detect TNT, the chemical compound within explosives. The ability to sniff out TNT makes him much faster than any person in searching for land mines, as he can ignore scrap metal that would usually be picked up by a metal detector. He can search an area the size of a tennis court in 30 minutes, whereas a person with a metal detector would usually take four days to search an area of that size. When he finds a mine, he signals to his handler by scratching at the earth above it. Unlike humans, Magawa is too light to detonate a mine, so there is minimal risk of injury.


*METHODOLOGY

SHOOK Research considered women advisors with a child 21 or younger still living at home. Ranking algorithm is based on qualitative measures derived from telephone and in-person interviews and surveys: service models, investing process, client retention, industry experience, review of compliance records, firm nominations, etc.; and quantitative criteria, such as assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Neither SHOOK nor Working Mother Media receives compensation from the advisors or their firms in exchange for placement on a ranking. Rankings are based on the opinions of SHOOK Research LLC and not indicative of future performance or representative of any one client’s experience; the firm’s research and rankings provide opinions for how to choose the right financial advisor. Remember, past performance is not an indication of future results. For more information, see shookresearch.com. 

ABOUT WORKING MOTHER MEDIA

Working Mother Media (WMM), a division of Bonnier Corp., publishes Working Mother magazine and its companion website, workingmother.com. The Working Mother Research Institute, the National Association for Female Executives, Diversity Best Practices and Culture@Work are also units within WMM. WMM’s mission is to serve as a champion of culture change, and Working Mother magazine is the only national magazine for career-committed mothers. Follow us on Facebook, Twitter, LinkedIn and Pinterest.

ABOUT SHOOK RESEARCH

As America’s only wealth advisor research organization, SHOOK Research recognizes the most outstanding wealth advisors in the business. The firm’s host of quantitative and qualitative deep due-diligence measures includes telephone and in-person meetings. The firm shares its best-practices research through conferences and speaking engagements. SHOOK regularly gives back and has raised more than $300 million for the world of philanthropy. For more information, see shookresearch.com.

ABOUT BAIRD

Putting clients first since 1919, Baird is an employee-owned, international wealth management, asset management, investment banking/capital markets, and private equity firm with offices in the United States, Europe and Asia. Baird has approximately 4,600 associates serving the needs of individual, corporate, institutional and municipal clients and more than $305 billion in client assets as of December 31, 2019. Committed to being a great workplace, Baird ranked No. 13 on the 2020 Fortune 100 Best Companies to Work For® list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. Incorporated in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s website at www.rwbaird.com. 

Baird Contact:

Rachel Kern, publicrelations@rwbaird.com, 414-298-5101

Working Mother Contact:  

Stefanie McNamara, stefanie.mcnamara@bonniercorp.com, 212-779-5119

Check the background of this firm on FINRA’s BrokerCheck.