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2024 Economic Sneak Preview
Are the “What if Monsters” keeping you up at night?
The truth is the state of the economy and market trends are cyclical and will always experience periods of highs and lows. Worrying about market crashes and what might happen next is a natural fear, but it shouldn’t keep you up at night. Even with highs and lows, history tells that those invested in the markets earn significantly more over the long term. A financial plan based on a sound, long-term investment strategy is the best way to ensure your financial future – and a better night’s sleep.
What to Expect This Year
This year, we see a financial landscape that is far less bleak than many had predicted. There will likely be a mild recession early in the year due to ongoing financial pressure, but this should only be mild due to several strong economic factors. The economy is already in a state of rebound as we see the sheer force of the U.S. economy’s forward momentum begin to counteract recent economic challenges.
The U.S. Economy Is Resilient
The first and most important factor is that the U.S. economy is still going strong. Despite the recent rise of inflation and the aggressive increase in the interest rate, the U.S. economy grew faster in Q2 of 2023 than it has since Q4 of 2021. The economy recently increased by 4.9%, which places us at the front of the Developed Market ratings. Also, we have been growing more rapidly since 2019 than any other G7 country.
Recent economic pressure may create a mild recession in early 2024, but this is no slowdown.
Strong Labor Market
The labor market is one of the strongest aspects of the U.S. economy. In the past 24 months, employers added 8.4 million jobs to the market. This was met with a record number of people joining the job market to fill the demand. We have reached 161 million known workers, with many more working as entrepreneurs and upholding the gig economy. This number rose from 158.5 million workers before COVID-19.
The push for better pay is also booming, seeing an average hourly earning increase of 4.4% in the last year. That increase is still outpacing inflation to help keep the cost of living within an affordable margin.
Inflation Stabilizing
Both inflation and interest rates are finally stabilizing, so we can predict a more financially stable year for 2024. 2023 has been wild with inflation-curbing interest rate increases. We are starting to see a trend of disinflation, with a return to more affordable prices for energy, goods, and transportation costs.
As the interest rates stabilize, we should also see another surge in real estate. Buyers can increasingly make their decisions with greater confidence regarding the interest rate by the time a deal is ready to close.
Equity Market Gains
Despite the predictions that the stock market would experience a drop this year, we have seen the S&P 500 rise by 20% this year. This is almost double the annual historical average, serving as more proof that the equity market is stronger than ever. We are taking a particular look at the MAGMAN portfolio, which makes up over 75% of the returns of the S&P 500. MAGMAN (MSFT, APPL, GOOGL, META, AMZN, NVDA) has risen 69% in this year to date.
Income Is Resuming in Fixed Income Investments
There is a positive side to the increased interest rate, of course. Those who have invested in bonds are benefitting from the increased interest. This can provide an excellent source of income compared to other forms of investments. Bonds now offer a chance to lock in these high-level return rates.
Ensure You have a Long-Term Financial Plan
If you are ready to turn the current economic landscape to your advantage, working with a financial planner is the best way to gain both insights and opportunities and most importantly, a long-term financial plan.
Contact us today for your initial consultation and learn more about our financial planning expertise.
Already working with an advisor? Reach out and schedule an appointment for a second opinion regarding your current financial plan.
Any opinions are those of the author and not necessarily those of Raymond James. The information contained in this email does not purport to be a complete description of the securities, markets, or developments referred to in this material. 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. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Expressions of opinion are as of this date and are subject to change without notice.This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Raymond James is not affiliated with nor sponsors or endorses any of the aforementioned organizations. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary. Bond prices and yields are subject to change based upon market conditions and availability.If bonds are sold prior to maturity, you may receive more or less than your initial investment.Holding bonds to term allows redemption at par value.There is an inverse relationship between interest rate movements and bond prices.Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise.
Dale Crossley Named to Raymond James 2024 Chairman’s Council
HEATHROW/MERRITT ISLAND, FLORIDA, DECEMBER 5, 2023 – CrossleyShear Wealth Management (CrossleyShear), a leading financial planning and wealth management practice based in Merritt Island and Heathrow, Florida, announced today that Dale Crossley, Jr., JD was named a member of Raymond James Chairman’s Council.* Membership in the Chairman’s Council is a privilege limited to a select few representing Raymond James’ top-achieving advisors. Chairman’s Council honors are earned by financial advisors who have demonstrated not only the utmost in client-centric care, but the highest level of fiduciary integrity.
“I am extremely honored to be named to this prestigious group of financial advisors,” stated Dale Crossley, Jr., JD, Co-Founder of CrossleyShear Wealth Management, Branch Manager and Financial Planner – RJFS. “It’s humbling for me and the entire team to be recognized among the nation’s leading advisors. Most importantly, it’s a tribute to the hard work and commitment our team demonstrates on a daily basis caring for our client’s needs and delivering financial confidence.”
Celebrating their 25th anniversary in 2023, Crossley and his partner, Evan Shear, co-founded CrossleyShear Wealth Management in 1998 and have proudly developed comprehensive client-centric financial planning solutions and time-tested wealth management strategies. Crossley earned a Juris Doctorate from Barry University and holds both a Master of Science in Business Management from Florida Institute of Technology and a Bachelor of Arts degree from Rollins College.
CrossleyShear manages more than $660 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 CrossleyShearWealthManagement and CSsports.net to learn more.
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.
*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 12/01/2022.
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.
CrossleyShear Wealth Management’s Partners, Evan Shear and Dale Crossley, Once Again Named to Forbes Best-in-State Wealth Advisors List
HEATHROW/MERRITT ISLAND, FLORIDA, April 12, 2023 – CrossleyShear Wealth Management (CrossleyShear), a team of premier financial planning and wealth management advisors, announced today that CrossleyShear founding partners Evan Shear and Dale Crossley have been named to the Forbes distinguished list of Best-in-State Wealth Advisors for 2023. This is the third consecutive year both Shear and Crossley have appeared on this prestigious list and the sixth consecutive year that at least one partner has received the honor. Nominees are carefully vetted through research and interviews and assigned a ranking based on an algorithm of qualitative and quantitative criteria. For 2023, Forbes received approximately 39,007 nominations and only 7,321 advisors received the award.
“Dale and I are once again honored and proud to appear on the Best-in-State Wealth Advisors list, but view this as an important recognition for our entire team. Their dedication and commitment to providing comprehensive financial planning and client-centric care is the foundation of our success,” said Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management and CERTIFIED FINANCIAL PLANNER™ professional. “Above all, we thank our clients for this honor, for consistently placing their trust and confidence in us through market ups and downs,” 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 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 CrossleyShearWealthManagement and CSsports.net to learn more.
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 Top Wealth Advisors Best-In-State 2023 ranking, 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. This ranking is based upon the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 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 39,007 nominations, 7,321 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/lists/best-in-state-wealth-advisors/?sh=181ba856ab97 for more info.
Evan Shear Named to Raymond James 2023 Chairman’s Council
HEATHROW/MERRITT ISLAND, FLORIDA, December 20, 2022 – 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 once again named a member of Raymond James Chairman’s Council.* Chairman’s Council honors are presented annually to those financial advisors who have demonstrated an unparalleled commitment to client care, professional integrity and the most stringent fiduciary standards. This is Shear’s fifth year gaining membership to the prestigious council.
“Being named to the 2023 Chairman’s Council is certainly an honor, but it takes an entire dedicated and passionate team to deliver on our promise of exemplary client-centric service. We’re fortunate to have such a team – one that’s fully committed to the needs of our clients and their loved ones,” stated Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management, and CERTIFIED FINANCIAL PLANNER™ professional. “Helping our clients feel confident that their financial goals are well within reach is a mission we wholeheartedly embrace and it truly inspires us on a daily basis.”
Shear and his partner, Dale Crossley, have developed comprehensive financial planning solutions and time-tested wealth management strategies for nearly 25 years. CrossleyShear manages more than $600 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 CrossleyShearWealthManagement and CSsports.net to learn more.
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.
*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 12/01/2022.
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.
CrossleyShear Wealth Management Expands Client Services Team
“HEATHROW/MERRITT ISLAND, FLORIDA, December 5, 2022 – CrossleyShear Wealth Management (CrossleyShear), a premier financial services and wealth management company based in Merritt Island and Heathrow, Florida, announced today the expansion of their team with the addition of Dawn N. Bradford, Client Relationship and Operations Specialist, CSWM, Registered Representative, RJFS. This key client support role will be critical to supporting the company’s recent growth and commitment to providing the very best in client care.
Dawn joined CrossleyShear with over 20 years of experience in financial services. She previously held positions at Smith Barney Citigroup, Merrill Lynch and most recently, worked for 6 years with another Raymond James financial planning firm. She is fully licensed by FINRA and has experience in compliance.
“Dawn is a valuable addition to our team. The decision to augment our client services staff is an important step in continuing to provide best-in-class service. Our success has been built on our client centric philosophy, so we are very pleased to add an experienced team member such as Dawn, “stated Evan Shear, Co-Founder and Branch Manager of CrossleyShear Wealth Management, and CERTIFIED FINANCIAL PLANNER™ professional.
“As our practice has grown, we’ve carefully built a team that’s passionate about always putting the client’s needs first. It’s can be a challenge finding team members who precisely align with your culture. Dawn will be tremendous asset to our team and only bolster our ability to meet and exceed our client expectations,” stated Dale Crossley, Co-Founder of CrossleyShear Wealth Management, Branch Manager and Financial Planner – RJFS.
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. For more information about CrossleyShear Wealth Management and its client-centric approach to financial planning, visit CrossleyShear.com.
About CSsports | CSsports is a division of CrossleyShear Wealth Management exclusively dedicated to serving the unique needs of sports professionals. Our success is driven by a promise to deliver personalized care and customized solutions for all aspects of our client’s financial life – before, during and after their sports career – ranging from everyday spending advice and retirement planning to managing investments, insurance, college savings and business planning. Visit CSsports.net to learn more about our sport’s professional services and solutions.
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.
1515 International Parkway, Suite 2019, Heathrow, FL 32746
407.215.7575
2395 N. Courtenay Parkway, Suite 201, Merritt Island, FL 32953
321.452.0061
