For over two decades Vogel Consulting has been offering wealth management services to family offices across the country. Recently, Vogel Consulting published a report discussing the market’s performance in the second quarter of 2018. Here are a few details:-EquitiesUS equity indices were high at the close of the quarter despite suffering a few tumbles along the way. NASDAQ hit record highs, so did the Russell 2000 index. These gains were attributed to the good performance of tech and small cap stocks. Across the Atlantic, European equity markets were weak and Japanese markets exhibited the same softness seen in the first quarter. Emerging market equities were down during the period, hurt by trade tensions and a strong dollar.-Fixed incomeBond returns in the United States were negative because of rising yields born from the anticipation of a tighter monetary policy. -Monetary policyThe US Federal Reserve raised interest rates 0.25 percent. The Fed forecasted further rate hikes in the future. In Europe, the European Central Bank stated it would stop buying bonds by year-end. -Overall economyThe US economy showed positive growth buoyed by the well-performing service and manufacturing sectors, and an improving labor market. Retail sales and housing starts remained up.
Wealth management firm Vogel Consulting provides reliable financial planning advice backed by nearly 25 years of experience. Recognized for its estate and tax planning services by Family Office Review Magazine, Vogel Consulting caters to multigenerational families seeking to protect their assets and navigate wealth transfers.High-net-worth families often have complex financial planning needs when making decisions regarding generational wealth transfer. Under the guidance of an experienced, knowledgeable wealth manager, individuals can consider several asset transfer options that reduce tax burdens and streamline the decision-making process. For example, life insurance policies and various types of trusts are proven ways to maintain asset value throughout the wealth transfer process.In order to make sound financial decisions, it is crucial that the family identifies its predominant values and financial goals. For example, families that prioritize education can work with financial advisors to set up multigenerational college funds or an endowment gift to a university that has contributed to the family’s legacy. Every generation brings more family members into consideration. Financial advisors can help larger families establish an appropriate governance model. In some families, assets may be divided into subsets managed by different family branches. Families also may opt to create a council led by older members who are tasked with decision-making.
