News

History shows there’s no compelling or dependable way to forecast stock and bond movements. The year 2019 has been a case in point.

Charles Schwab and TD Ameritrade both announced today that they have reached an agreement for Schwab to acquire TD Ameritrade. Both companies announced that the combined company will retain the Schwab name, and will reflect the best that each legacy firm has to offer, including leading wealth management and trading platforms. The closing of the acquisition will need to be approved by regulatory authorities and survive any anti-trust issues, and is expected to close in the second half of 2020. During that time, there should be no impact to how you work with us or TD Ameritrade Institutional. Most independent registered investment advisors, like ourselves, are somewhat hesitant about the merger because of reduced competition, since Schwab is already the largest provider of investment services to investment advisors. The three largest providers are Schwab, Fidelity, and TD Ameritrade, in that order, with all three recently announcing the elimination of commissions on online stock trading, including ETFs. The following is a link to a FAQ about the merger provided by TD Ameritrade. If you should have any questions, please feel free reach out to us.

Is the market getting by with a little help from the FAANGs? And does the performance of Facebook, Amazon, Apple, Netflix, and Google stand out historically? Investors may be surprised that it's actually common for a subset of stocks to drive a sizable portion of broader returns.

This report features world capital market performance and a timeline of events for the past quarter. It begins with a global overview, then features the returns of stock and bond asset classes in the US and international markets. The report also illustrates the impact of globally diversified portfolios.

Looking at the stock market over the past 20 years, you might think of Charles Dickens: It was the best of times—and the worst. But while the 2000s and 2010s have differed starkly in performance, collectively they have reinforced investing lessons on patience and discipline.

After a period of relative calm in the stock market, investors have experienced increased volatility in recent days. While market volatility can create anxiety for some, reacting emotionally and changing long-term investment strategies in response to short-term declines could prove more harmful than helpful.