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Timely Thoughts from Evan and Dale
“What’s the market going to do?” “Why is it going down?” “What is making money?’ “Its up 500 points, should we be buying?” “Its down, should we be selling?”
All of these are legitimate questions we have always received but recently the questions have turned more aggressively rhetorical with some clients.
Dale and I have been working with clients for over 25 years. Never in those 25 years have we experienced the rapid back and forth on a minute by minute, hour by hour and day by day basis. For many months now we have seen the markets and almost every sector within these markets sell off. We have had days where we start down 1-5% only to turn around for no reason, or the inverse. We have had days where everything looks great and we rally, only to give it all back within minutes or the next day. It is never enjoyable to lose wealth, even if it is temporary or if its giving back some gains. The toll this volatility is taking on our clients, our team and ourselves is reaching unprecedented levels. Some days it feels like we are capitulating, a term that references when most people are throwing in the towel and selling anything not nailed down. Other days, people are buying with both fists everything regardless of what we tell them. In a world where bonds, stocks and alternatives are all down double digits, its tough to find a more stable place to go.
What I want to reiterate to everyone is that nobody can be perfect in this business. Nobody has all the answers all the time. Including the talking heads on TV, your family, friends, or coworkers. Everyone likes to talk about their winners but not their losers. Absolutely no one knows where or when the bottom is, or the top. Anyone who thinks they or their adviser can be is fooling themselves. What we do know is that over the last 25 years, our team has developed, refined and gone back to the drawing board to create investment strategies that attempt to mitigate downside risk as much as possible, while allowing a client to reap rewards when the markets allow for that to happen. They are not going to be perfect. The markets will go up 70-80% of the time and pull back 20-30% of the time. One of our primary goals is to mitigate the impact of market crashes to client portfolios. (defined as declines 20% or greater in the S&P 500 lasting at least one year) which are imminent but not permanent or unmanageable. The last three crashes were -57% in 2007-2009, -49% 2000-2002, and -27% in 1980-1982.* We utilize a disciplined process combining fundamental, tactical and hedges to help further this mitigation goal but that is often not enough to sidestep common but painful pullbacks (defined as 15% or greater declines in the S&P 500). In light of the recent market deterioration, we have been revisiting our asset allocations and tactically favoring cash alternatives. If we knew where the markets would go before they went there, we would have clients positioned that way. Or we would be off somewhere sipping umbrella drinks out of a golden shoe. None of which is happening. We can’t promise much except that we and the entire CrossleyShear team are working our tails off for you.
We are going through a period of rising interest rates that have been in the wings for the last decade but on hold for a litany of reasons. We have seen a 12 year bull market with loose money across the globe inflate asset prices and now we are suffering from the hangover of inflation that ultimately comes from asset bubbles. We have had a global pandemic that has taken over 1 million souls in this nation, some very close to us. That same pandemic and the global response to it has also created a massive supply chain disruption, which has exacerbated the inflation we are seeing. Throw the cherry on top with a war in Europe and a continuous, rolling lockdown in China and things just keep getting crazier.
If you are stressed about your account and the market’s volatility, we need you to know we are as well…X 600. One of the things we have always stressed is that we treat our clients’ money, as if it were our own. So please know that we too lose sleep, get sick to our stomach and even get emotional over the gyrations of this market. However just as “hope” isn’t an investment strategy, neither is “fear.” We will continue to manage this environment to the best of our abilities, with the tools of experience, research and non-emotional investment moves. While most of our clients have been supportive and understanding in this chaos, some have been less courteous and we understand your frustration. If you wish to chat, we welcome it, but we ask that you try to be professional, just as you would expect from us and our team.
I the end, we know all of these challenges will pass. The markets will eventually reach new highs, as they always do. We could be headed for more back and forth until…it stops. When it does, we are prepared to succeed for you, our trusted clients because we have processes and time tested strategies in place. We don’t move on fear or hope, we move on facts and math. Hang in there and keep yourselves and your family healthy and all things in perspective.
Sincerely,
Evan M. Shear, CERTIFIED FINANCIAL PLANNER™
W. Dale Crossley, JD, Financial Planner
CrossleyShear Wealth Management’s Evan Shear and Dale Crossley Named Again to Forbes’ List of Top Wealth Advisors
HEATHROW/MERRITT ISLAND, FLORIDA, April 12, 2022 – CrossleyShear Wealth Management (CrossleyShear), a team of premier financial planning and wealth management advisors, announced today that both founding partners, Evan Shear and Dale Crossley, have been named to the Forbes' prestigious 2022 list of America’s Best-in-State Wealth Advisors. Out of approximately 34,925 nominations, the annual ranking spotlights more than 6,500 advisors who are researched, interviewed, and assigned a ranking based on an algorithm of qualitative and quantitative criteria. This is the fifth consecutive year CrossleyShear has been appeared on the distinguished list.
“This honor continues to be a humbling achievement for me, Dale and the entire CrossleyShear team. It’s also a tribute to our clients who place their trust in us on a daily basis. We understand the important role we play in our client lives. It’s this very responsibility that drives our culture and mission,” stated Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management, and CERTIFIED FINANCIAL PLANNER™ professional. “This recognition is a testament to our team’s commitment and dedication to delivering the very best in care and financial planning to our clients. It’s a passion that continues to be the foundation of our individual and collective success,” added Dale Crossley, JD, Co-Founder of CrossleyShear Wealth Management, Branch Manager and Financial Planner – RJFS.
To learn more about CrossleyShear Wealth Management and the practice’s financial planning and wealth management solutions, visit CrossleyShear.com. For more information about CSsports, visit CSsports.net.
About CrossleyShear Wealth Management | Since 1998, CrossleyShear Wealth Management has served as a premier financial planning team dedicated to helping provide clients and families with innovative financial solutions and wealth management strategies. With offices in Heathrow and Merritt Island, Florida, their tailored customer care philosophy and customized planning process helps empower its clients to achieve their financial goals and financial independence. The company’s CSsports division exclusively serves the unique needs of professional athletes – before, during and after their sports career – providing customized solutions ranging from everyday spending advice and retirement planning to managing investments, insurance and business planning. For more information about CrossleyShear Wealth Management and CSsports, visit CrossleyShear.com.
1515 International Parkway, Suite 2019, Heathrow, FL 32746 | 407.215.7575
2395 N. Courtenay Parkway, Suite 201, Merritt Island, FL 32953 | 321.452.0061
CrossleyShear Wealth Management and CSsports are not registered broker dealers and are independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.
Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 34,925 nominations, more than 6,550 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.
Evan Shear Named Member of Raymond James’ 2022 Chairman’s Council
HEATHROW/MERRITT ISLAND, FLORIDA, November 2, 2021 – CrossleyShear Wealth Management (CrossleyShear), a leading financial planning and wealth management firm based in Merritt Island and Heathrow, Florida, announced today that Evan Shear was recently named a member of Raymond James’ 2022 Chairman’s Council.* A privilege limited to a select few, membership in the Chairman’s Council acknowledges Raymond James’ top achieving advisors. The honor of Chairman’s Council status is earned by financial advisors demonstrating the utmost in fiduciary integrity, coupled with a dedication to providing exemplary client-centric care.
“While I’m personally honored to be named to the 2022 Chairman’s Council, this achievement is truly a tribute to our entire CrossleyShear team and their incredible commitment and passion,” stated Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management, and CERTIFIED FINANCIAL PLANNER™ professional. “Our clients expect and deserve the very best in service and performance. It’s our passion to not only take excellent care of our clients and families, but to provide each with the financial confidence their goals are always within reach, no matter what life brings them. It’s what inspires us on a daily basis. This recognition is a testament to that commitment.”
Evan Shear, together with Dale Crossley, founded CrossleyShear in 1998 and has spent the last 25 years building comprehensive financial plans and providing time-tested wealth management strategies. CrossleyShear manages more than $700 million** in client assets and offers a wide variety of services, including retirement planning, investment and asset management, trust and estate planning, education planning and executive wealth management. The company also serves the complex financial and wealth management needs of sports professionals through CSsports, a division of CrossleyShear Wealth Management.
To learn more about CrossleyShear Wealth Management and the team’s financial planning and wealth management solutions, visit CrossleyShear.com. For more information about CSsports, visit CSsports.net.
About CrossleyShear Wealth Management | Since 1998, CrossleyShear Wealth Management has served as a premier financial planning team dedicated to helping provide clients and families with innovative financial solutions and wealth management strategies. With offices in Heathrow and Merritt Island, Florida, the company’s tailored customer care philosophy and customized planning process helps empower its clients to achieve their financial goals and financial independence. Their professional athlete division, CSsports, is exclusively dedicated to serving the unique needs of sports professionals before, during and after their playing careers. Visit CrossleyShear.com and CSsports.net to learn more.
About Raymond James Financial Services
Raymond James Financial Services, Inc., is a financial services firm supporting more than 4,300 independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), a leading diversified financial services company with approximately 7,900 financial advisors throughout the United States, Canada and overseas. Total client assets are $824 billion*.
Trust services offered through Raymond James Trust, N.A., a subsidiary of Raymond James Financial, Inc. CrossleyShear Wealth Management and CSsports are not registered broker dealers and are independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.
*Membership is based on prior fiscal year production. Re-qualification is required annually. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. No fee is paid in exchange for this award/rating.
**As of 10/20/2021.
Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1515 International Parkway, Suite 2019, Heathrow, FL 32746 | 407.215.7575
2395 N. Courtenay Parkway, Suite 201, Merritt Island, FL 32953 | 321.452.0061
Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. CrossleyShear Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.
How Do Rising Interest Rates Affect Stocks?
– Evan Shear, CFP® and Dale Crossley, JD, CrossleyShear Wealth Management
When you're investing in the stock market, a variety of factors affect where and how you choose to invest your money. Current and projected interest rates are at the top of that list. With continued headlines about rising inflation, many investors have concerns about the potential for rising interest rates in the future. When interest rates increase, they can have a significant impact on the stock market, the economy, and your own investments.
How Rising Interest Rates Affect the Stock Market
When interest rates increase, it can be tempting to make changes to your investments based on your emotions. While it's true that the stock market is often negatively affected by interest rates in the short term, there is still potential for long-term growth in your investments. Before making a decision, we always advise our clients to take a step back and consider how our proprietary investment process, Voyage, considers factors such as interest rate fluctuations in your long-term financial plan.
When interest rates and the 10-year Treasury yield increase, stock prices can shift downward, prompting many investors to sell before prices tank. Stocks that were popular for short-term investments tend to suffer, and popular investments from the prior period may take a hit. However, the interest rate isn't the only factor that affects stock prices. Investors also consider the long-term interest fluctuations, employment numbers, corporate earnings, and larger fiscal policies such as taxes and the federal budget.
How Higher Interest Affects Economic Growth
The Federal Reserve and Treasury Department work together to create a stable economic environment, particularly in times of economic difficulty. In the long term, the stock market has proven resilient, even in the face of extreme economic downturns like the "Great Recession" of 2008 or the more recent COVID-19 pandemic.
Part of that resilience comes from the Federal Reserve's control over interest rates and other market operations. When the Federal Reserve increases interest rates, it helps to slow economic growth and prevent excessive inflation. In this way, higher interest rates help stabilize the economy and keep prices for goods and services within an affordable range for consumers.
On the other hand, rising interest rates can reduce consumer spending by increasing borrowing costs for both consumers and businesses. Higher borrowing costs can result in less consumer spending, which in turn reduces corporate earnings. For that reason, stock prices tend to fall when interest rates increase.
Therefore, for the Fed, the key is to raise interest rates enough to curb inflation while keeping them low enough to avoid harming consumer spending and business growth. This allows businesses to continue reporting consistent earnings, which encourages stock prices to rise.
What Rising Interest Rates Mean for Your Stock Portfolio
When interest rates increase, stock investors start to look at long-term investments such as bonds and certificates of deposit, where rising interest rates will create a higher yield on investment. Volatility in the stock market tends to send investors in the direction of safer, fixed-income options.
It is important to note that not all stocks will perform poorly when interest rates rise. Utilities, healthcare, and household goods are all defensive investments that can yield returns even during an economic downturn. Investors will often turn to these investments and pull out of more risky sectors until interest rates stabilize again.
Finally, rising interest rates can present you with buying opportunities when demand for equities falls. Falling demand can reduce stock prices for equities, and since the housing market rebounds strongly after downturns, equity investment can be a lucrative option.
Plan for Your Future with CrossleyShear Wealth Management
In short, while rising interest rates do affect your stock investments, there are a number of ways to turn these shifts to your advantage. Our team, together with our proprietary investment process, Voyage, thoughtfully manages your short- and long-term investments, particularly in times of volatility. Contact us to learn more or schedule a checkpoint meeting. Schedule an appointment today.
Any opinions are those of Evan Shear and Dale Crossley and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred toin this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected including asset allocation and diversification. Sector investments are companies engaged in business related to a specific sector. They are subject to fierce competition and their products and services may be subject to rapid obsolescence. There are additional risks associated with investing in an individual sector, including limited diversification.
Any opinions are those of the author and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Past performance does not guarantee future results. Prepared by Muse Marketing + Creative for use by Financial Advisors.
*Trust services offered through Raymond James Trust, N.A., a subsidiary of Raymond James Financial, Inc. CrossleyShear Wealth Management and CSsports are not registered broker dealers and are independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.
Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. CrossleyShear Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.
CrossleyShear Wealth Management Named in Aspioneer Magazine’s Featured Asset and Wealth Management Companies Edition
HEATHROW/MERRITT ISLAND, FLORIDA, September 29, 2021 – CrossleyShear Wealth Management (CrossleyShear), a team of premier financial planning and wealth management advisors, announced today that the practice and co-founders Evan Shear and Dale Crossley have been featured in Aspioneer Magazine’s Leading Asset and Wealth Management Companies edition. Aspioneer Magazine is a publication that covers a broad range of topics in a vast number of sectors, including the economy, environment and business. The magazine frequently showcases industry leaders who have demonstrated exceptional success growing their business through unwavering knowledge and expertise and a commitment to customer-centric culture. Crossley and Shear were interviewed as part of a feature story that appears in their September edition.
“We’re proud of the entire CrossleyShear Wealth Management team for this acknowledgement,” stated Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management, and CERTIFIED FINANCIAL PLANNER™ professional. “Our team is passionately focused on providing the very best in financial planning expertise, coupled with the utmost in client-centric care. The feature article simply validates the hard work and commitment our team delivers on a daily basis to our clients.” Dale Crossley, JD, Co-Founder of CrossleyShear Wealth Management, Branch Manager and Financial Planner – RJFS adds, “At the very core of our mission is helping our clients through the ups and downs in life with a sense of confidence. Each and every one of our team members contributes to that vital effort. We understand the important role we play in our client’s lives and helping them achieve their financial goals. It’s a role we embrace each and every day.”
To view the article and feature story, visit https://aspioneer.com/crossleyshear-wealth-management-helping-clients-achieve-their-financial-goals-no-matter-where-life-takes-them/. You can also learn more about CrossleyShear Wealth Management and the team’s financial planning and wealth management solutions by visiting CrossleyShear.com. For more information about CSsports and the team’s professional athlete services, visit CSsports.net.
About CrossleyShear Wealth Management | Since 1998, CrossleyShear Wealth Management has served as a premier financial planning team dedicated to helping provide clients and families with innovative financial solutions and wealth management strategies. With offices in Heathrow and Merritt Island, Florida, their tailored customer care philosophy and customized planning process helps empower its clients to achieve their financial goals and financial independence. The company’s CSsports division exclusively serves the unique needs of professional athletes – before, during and after their sports career – providing customized solutions ranging from everyday spending advice and retirement planning to managing investments, insurance and business planning. For more information about CrossleyShear Wealth Management and CSsports, visit CrossleyShear.com.
1515 International Parkway, Suite 2019, Heathrow, FL 32746 | 407.215.7575
2395 N. Courtenay Parkway, Suite 201, Merritt Island, FL 32953 | 321.452.0061
*Trust services offered through Raymond James Trust, N.A., a subsidiary of Raymond James Financial, Inc. CrossleyShear Wealth Management and CSsports are not registered broker dealers and are independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.
Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
