Planning Note: What the One Big Beautiful Bill Means for Business Owners, Executives, and Other High Earners
August 14, 2025 – It’s been over a month since Congress passed the One Big Beautiful Bill Act (OBBBA), and investors, accountants, and planners are still studying the impact of this 900-page bill. If the 2017 Tax Cuts and Jobs Act did much to amplify the tax code, this bill makes it significantly more complicated, […]
Q2 2025 Commentary
Volatility and uncertainty escalated in the second quarter following the introduction of President Trump’s “Liberation Day” tariffs on April 2. These included a universal 10% tariff on nearly all imports, with even higher “reciprocal” tariffs targeting specific countries. Markets responded swiftly: the S&P 500 fell over 13% in just a few days. The combined impact […]
Five Charts for the Week That Was: August 8, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including the Fed Rate, GDP estimates, home sales, oil prices, and Chinese exports and imports.
July Recap: Reflecting on the YTD Market Volatility & Recovery
Monthly Market Summary Key Market Themes Trade De-Escalation Boosts Risk Appetite. July saw meaningful trade de-escalation as Washington reached separate agreements with Japan and the EU. The frameworks set tariffs at 15% on most exports, along with still-undefined additional investments in the U.S. The trade deals boosted risk appetite and helped the S&P 500 set […]
July 2025 Recap
The Economy In July 2025, the U.S. economy saw a dramatic slowdown in job growth, a bump in inflationary pressures due to tariffs, and a rebound in GDP following a weak first quarter. The economy added only 73,000 jobs, below the expected 115,000. This slowdown was driven by reduced hiring in manufacturing and construction, partly […]
Economic Commentary – August 4, 2025
The flood of economic data last week measured up to all expectations — and probably exceeded more than a few. Collectively, the data painted a picture that most people had already sketched out, one of slowing economic growth, some upward pressure on prices, and a Federal Reserve facing murky uncertainties. Even if the Federal Open Market […]
Investment Commentary – August 4, 2025
Executive Summary Last week, U.S. stocks were down and bonds up (price up / yield down). The S&P 500 outperformed the MSCI Emerging Markets and MSCI EAFE indices. As for fixed income, the 10 yr. Treasury yield fell 17 bp on the week to 4.21%. The best performing parts of the bond market were treasuries, […]
What Could Possibly Go Wrong? (Four Candidates for Market Mayhem)
By John Lau, CPA, CFP® August 1, 2025 – Since the market bottomed on April 8, stocks have been on a near uninterrupted climb, with the S&P 500 hitting new all-time highs. What’s driving this rally? A potent cocktail of improved trade clarity, stable economic data, a drama-free Washington (relatively speaking), a solid start to […]
FOMC Commentary – July 30, 2025
The Federal Open Market Committee (FOMC) Interest Rate Meeting concluded with a decision to leave the Fed Funds Target Range at 4.25%-4.5%. This decision was widely expected, as were the dissenting votes of Fed Governors Chris Waller and Michelle Bowman, both of whom voted for a quarter-point interest rate cut.
Q2 2025 Recap
July 29, 2025 – We provide you with a recap of the second quarter.
One Big Beautiful Bill Act and Its Impact Webinar
Chief Economist Jeanette Garretty and Head of Wealth Planning Mallon FitzPatrick break down the impact of the One Big Beautiful Bill Act (OBBBA) on your financial plan.
Robertson Stephens Continues Its Growth in New York
Wealth Manager Leah Hokenson Joins Robertson Stephens New York Office July 28, 2025 – Robertson Stephens Wealth Management, LLC (“Robertson Stephens”) continues to grow its presence in New York. Leah Hokenson joins as Managing Director and Principal, specializing in comprehensive wealth management for artists, art collectors, and entrepreneurs worldwide. Robertson Stephens manages $7.5 billion in […]