close
Chief Investment Officer John Apruzzese and Partners Brian Pollak and Stephanie Hackett reviewed our current thinking on policy, the economy and markets, along with the asset allocation views for long-term investors.
If you would like to view the replay, please contact us at wealthmanagement@evercore.com.
Evercore Wealth Management and Evercore Trust Company Chief Investment Officer, John Apruzzese, National Director of Wealth Planning Justin Miller, and Chair of the Investment Policy Committee Brian Pollak discussed the post-election landscape from an investment and tax perspective.
If you would like to view the replay, please contact us at wealthmanagement@evercore.com.
What is the current state of philanthropy, and how can I be more involved in the issues I care about? Chris Zander, CEO and President of Evercore Wealth Management, Renee Kaplan, CEO of Forward Global, and Haven Ley, Chief Strategy Officer at Pivotal Ventures, discussed the current trends, new approaches, and best practices in giving.
If you would like to view the replay, please contact us at wealthmanagement@evercore.com.
What’s at stake in this election? Brian Pollak, Partner and Chair of the Investment Policy Committee at Evercore Wealth Management spoke with Daniel Clifton, Partner and Head of Policy Research at Strategas, about the significant policy differences between the presidential candidates and their respective potential to drive lasting impact on the economy and the markets.
If you would like to view the replay, please contact us at wealthmanagement@evercore.com.
Companies are on track to spend $200billion on Artificial Intelligence by 2025, half of that in the United States,but the benefits to date are mixed. When will we see the big economic and investment payout?
In our latest webinar, Evercore Wealth Management Partner Iain Silverthorne discussed business investment in AI with Christopher Kauffman, Principal at General Catalyst, and Stephen Collins, technology leader and angel investor.
If you would like to view the replay,please contact us at wealthmanagement@evercore.com.
Evercore’s Chief Information Security Officer, Elsa Ferreira, and Ruth Calaman, General Counsel and Chief Compliance Officer of Evercore Wealth Management and Evercore Trust Company, hosted our latest webinar, Fighting Back: Protecting Yourself and Your Family from Cyber Attacks.
They discussed the latest financial scams, common vulnerabilities, and suggested ways to defend ourselves and our families.
If you would like to view the recording, please email wealthmanagement@evercore.com.
Evercore Wealth Management welcomed attorneys and accountants in New York on June 26 for our presentation Planning Opportunities and Potential Pitfalls with Qualified Small Business Stock. Justin Miller, our National Director of Wealth Planning, led a lively presentation on QSBS, following remarks from our CEO Chris Zander and Partner and Portfolio Manager Brian Pollak.
Please email us at wealthmanagement@evercore.com if you have any questions about this topic or continuing advisor education at Evercore Wealth Management and Evercore Trust Company.
Justin Miller, our National Director of Wealth Planning, and Wealth & Fiduciary Advisors Neza Gallitano and Alex Pavelock hosted our latest webinar, Gifting Before the Estate Tax Exemption Sunset: The Whys, Why Nots, and When.
They discussed the practical and financial considerations of gifting and reviewed some of the merits and drawbacks of a range of gifting strategies to help our clients make an informed– and timely – decision.
If you would like to view the recording, please email wealthmanagement@evercore.com.
Our Chief Investment Officer John Apruzzese and other partners at our firm - Stephanie Hackett, Brian Pollak, and Mike Seppelt - discussed our view on current market risks and opportunities.
If you would like to view the replay, please email wealthmanagement@evercore.com.
Andy Miller, Head of AARP’s Innovation Labs and AgeTech Collaborative, joined us for our latest webinar, New Frontiers in Aging: Technology for Long and Happy Lives.
Jeff Maurer, Chairman of Evercore Wealth Management, and Andy discussed the latest advances in technology including: technology to prevent falls, control body temperatures, and even holographic technology-driven devices to see, hear, and interact with others anywhere in the world.
If you would like to view the recording, please email wealthmanagement@evercore.com.
Soaring property values and shrinking insurance capacity has left many homeowners dangerously exposed. Adequate limits for umbrella liability insurance can also be difficult to identify.
Jeff Maurer, Chairman of Evercore Wealth Management and Evercore Trust Company and guest Scott Carmilani, Executive Chairman of Vault Holdings, looked at the current state of the insurance market and the implications for high net worth families in our latest webinar.
Please email wealthmanagement@evercore.com if you would like to view the recording.
Scott Carmilani is a current client of Evercore Wealth Management and Evercore Trust Company. He has not received any compensation from us for his presentation and we do not use or recommend his company, Vault Holdings, Vault Insurance Services, The Vault Reciprocal or their related companies for client accounts. It is not intended that Mr. Carmilani will endorse Evercore Wealth Management and Evercore Trust Company’s services or give testimonials regarding such services during the discussion. We do not believe this relationship results in any material conflicts of interest with respect to the contents of this presentation. Additional information about conflicts of interest can be found in Evercore Wealth Management’s Forms CRS and ADV which can be accessed on our website at https://www.evercorewealthandtrust.com.
Is our real relationship with China confrontational or, as President Nixon declared five decades ago, negotiable?
Evercore Wealth Management Partner and Portfolio Manager Brian Pollak interviewed Neo Wang, China macroeconomic specialist at Evercore ISI on China’s growing global influence, the Chinese government’s real long-term economic, political, and social objectives, and the implication on U.S. investors.
Please email wealthmanagement@evercore.com if you would like to view the recording.
The global banking crisis has put depositors, investors, and regulators on alert, in a period of already heightened market/economic uncertainty.
Does this create opportunities for private lenders or private equity investors?
Evercore Wealth Management Partner Stephanie Hackett moderated a discussion between Frank Rotman, QED Investors Co-Founder, Partner and CIO, and David Golub, President of Golub Capital on the changing credit landscape and implications for the broader market as well as for investors in private capital.
Please email wealthmanagement@evercore.com if you would like to view the recording.
Is artificial intelligence overhyped? Or is it about to change our lives, in more ways than we can count?
Yesterday, Errol Arkilic, Chief Innovation Officer at the University of California, Irvine, and Philip Chow, the CEO of Humanitas Technologies (Humanitas.AI) provided a practical take on what may just be the most important technological development of our time. Evercore Wealth Management Partner Iain Silverthorne moderated the discussion.
If you would like to view the recording or be invited to our future webinars, please email wealthmanagement@evercore.com.
Evercore Wealth Management today announced the promotions of Portfolio Manager Michael Kirkbride, Portfolio Manager Aldo Palles, and Wealth and Fiduciary Advisor Ross Saia to partner. Mr. Kirkbride is based at the Evercore headquarters in New York City; Mr. Palles and Mr. Saia are based at the Evercore Wealth Management and Evercore Trust Company, N.A. office in Palm Beach, Florida.
“Michael, Aldo and Ross are strong contributors to our firm, always putting our clients first and demonstrating terrific teamwork,” said Chris Zander, CEO of Evercore Wealth Management and Evercore Trust Company, N.A. “I am delighted to recognize their leadership and look forward to working with them as we continue to grow our business across the United States, advising our clients at the highest professional level.”
Mr. Kirkbride is a portfolio manager at Evercore Wealth Management, managing investment assets for families, foundations, and endowments. He contributes to managing the firm’s core equity strategy and dividend-yield portfolio and to the continuing development of the firm’s ESG investment approach, which is customized for each client. Mr. Kirkbride joined Evercore in 2019 from Fieldpoint Private, where he worked for two years as a senior investment advisor. He previously worked as a senior portfolio manager at U.S. Trust, managing approximately $2 billion in assets for families and foundations. He received a B.A. at Rutgers College and an MBA from the New York University Stern School of Business. Mr. Palles is a portfolio manager at Evercore Wealth Management, managing investment assets for families, foundations and endowments. He is an active member in the firm’s national investment committee.
Mr. Palles joined Evercore in 2018 from U.S. Trust, Bank of America Private Wealth Management, where he served as a managing director and senior portfolio manager in Palm Beach. Earlier, he served as the chief investment officer of Crestmark Investment Management in Jupiter, Florida, and worked as a financial advisor at GenSpring Family Offices in Palm Beach Gardens. He has a bachelor’s in business administration and finance from Florida International University, a master’s in accountancy from the University of Denver and a master’s in finance from the University of Miami. He holds the Chartered Financial Analyst, Chartered Alternative Investment Analyst, Certified Financial Planner® and Certified Trust and Fiduciary Advisor designations.
Mr. Saia is a wealth & fiduciary advisor at Evercore Wealth Management and Evercore Trust Company, delivering strategic planning and fiduciary advice to high-net-worth and ultra-high-net-worth families and contributing to the Fiduciary Oversight Group. He joined Evercore in 2018 from U.S. Trust, Bank of America Private Wealth Management, where he served as a senior vice president and senior trust officer in Palm Beach. He previously oversaw fiduciary and investment administration at the Palm Beach office of Brown Brothers Harriman & Co. Mr. Saia has a B.S. in business management from the City University of New York. He holds the Certified Financial Planner® and Certified Trust and Fiduciary Advisor designations. He is also a member of the East Coast Estate Planning Council and Palm Beach County Estate Planning Council.
After a year in which longstanding economic and investment trends were turned on their heads, what’s next for the markets? Yesterday, Chief Investment Officer, John Apruzzese, and Head of Fixed Income, Brian Pollak, discussed our investment outlook, including our current views on the credit markets.
If you would like to view the recording or be invited to our future webinars, please email wealthmanagement@evercore.com.
We were delighted to welcome back Ambassador Dame Karen Pierce as a guest for our recent webinar.
Evercore Wealth Management Chief Investment Officer John Apruzzese interviewed Ambassador Pierce on Anglo-American relations, post-Brexit business and trade, and shifting geopolitical influences. If you would like to be invited to our future webinars please email wealthmanagement@evercore.com.
Deciding if, when, and how to transfer assets to children and grandchildren is one of the most important wealth management decisions families make.
There’s no one right answer for everyone, but there are good ways to help determine the right answer for you and your family.
Evercore Wealth Management and Evercore Trust Company Chairman Jeff Maurer and Partner and Wealth & Fiduciary Advisor Kate Mulvany were joined by neuropsychologist Dr. Moira Somers to discuss the emotional and practical considerations in gifting.
If you would like to view the replay, please email wealthmanagement@evercore.com.
How should portfolios be positioned to withstand these tumultuous markets?
Chief Investment Officer John Apruzzese addressed this question and more at client events in Seattle, San Francisco, Menlo Park, Tampa, Palm Beach, and New York. A related event took place in Minneapolis. If you would like to view the recording or learn more about Evercore Wealth Management, please email wealthmanagement@evercore.com.
Chris Zander, CEO of Evercore Wealth Management and Evercore Trust Company, hosted our discussion “Making it Count, Beyond the Amount: Innovations in Philanthropy,” with guests Renee Kaplan, Nadia Roumani, and Milton Speid.
Contributions beyond wealth, such as communicating with like-minded donors, participating on boards and advisory committees, and volunteering, were among the topics addressed.
If you would like to watch the recording, please email wealthmanagement@evercore.com.
All families struggle: those facing addiction, autism and other physical, mental and emotional health issues struggle more than most. Wealth can help, but without thoughtful planning it can also create additional challenges.
Evercore Wealth Management Partners Karen Francois and Jay Springer and Ann Koerner, CEO and Founder of National Care Advisors, discussed planning strategies and other resources for families facing addiction, autism and other physical, mental and emotional health issues.
If you would like to view the recording, please email wealthmanagement@evercore.com.
Deciding when – and how much – to give children and grandchildren is arguably the most fraught wealth management decision many of us will make.
Evercore Wealth Management Partner Justin Miller and guest Dr. Denise Federer discussed the emotional and technical considerations in gifting. Wealth and Fiduciary Advisor Dan Stolfa moderated the discussion.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
In our recent webinar, Independent Thinking panel: Beyond Covid: Accelerating Innovation and Investment Opportunity in Healthcare, Evercore Wealth Management Partner and Portfolio Manager Judy Moses and two of our external fund managers, Joelle Kayden, the founder and managing member of Accolade Partners, and Debra Netschert, a health sciences equity portfolio manager at Jennison Associates, discussed the new investment opportunities in an environment that is changing at an accelerated rate, in both the public and private markets.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
In our recent webinar, Independent Thinking panel: The United States and China: Repairing the “Most Consequential” Relationship, Evercore Wealth Management Partner and Portfolio Manager Brian Pollak interviewed David Firestein, President & CEO of the George H.W. Bush Foundation in a contemporary discussion of what the 41st President described as the most consequential bilateral relationship in the world.
We also discussed potential Chinese influence on Russia at this critical juncture, as the Russian invasion of Ukraine continues to escalate.
For further information about this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
In our recent webinar, Independent Thinking panel: Investing in Green Technologies: A Conversation on Decarbonization, Panos Ninios of True Green Capital Management, Praveen Sahay of WAVE Equity Partners discussed the production and utilization of alternative energy technology and the prospects for carbon capture, along with the associated investment opportunities and risk.
The event was hosted by Evercore Wealth Management Partner and Wealth & Fiduciary Advisor Iain Silverthorne.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
Thanks to Erika Cramer, Managing Partner of How Women Invest, Elizabeth Gore, co-founder and president of Hello Alice, and Loretta McCarthy, co-CEO and Managing Partner of Golden Seeds, for joining Partner and Portfolio Manager Stephanie Hackett in our October 13 Independent Thinking panel, Seeds to Success: Early Stage Investing in Women-Led Companies.
We enjoyed the discussion on the challenges women founders face when raising capital to launch and grow their businesses and the lively question and answer session that followed.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
In our webinar, Independent Thinking panel series: Advancing at the Intersection of Climate Change and Capital: A Webinar with Futurist Andrew Zolli, we spoke on the present and coming impacts of climate change on industries, businesses and investors.
The event was hosted by Evercore Wealth Management Partner and Portfolio Manager Brian Pollak.
For more information, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
Right now, American education is undergoing a rapid transformation.
From increasing access to technology in the classroom, to a better understanding of the needs of today’s students, our schools’ systems are within a pivotal moment in history.
Ross Wiener, the Executive Director of the Education & Society Program at The Aspen Institute, and Cami Anderson, Founder and CEO of ThirdWay Solutions and a former superintendent of schools in New York City and Newark, discussed the major lessons school systems learned in the wake of the pandemic, and the future of American education. The event was hosted by Evercore Wealth Management Managing Director and Portfolio Manager Michael Beck.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
The timing of our recent Independent Thinking panel: Let’s Visit Mars with Dr. Dava Newman was fortunate; NASA’s Mars helicopter Ingenuity last week set records, flying faster and further than expected.
Dr. Newman, the Apollo Program Professor of Astronautics at the Massachusetts Institute of Technology and former Deputy Administrator of NASA, and Boyd Matson, former National Geographic anchor, discussed the development of new advanced space technologies and addressed client questions. The event was hosted by Evercore Wealth Management Partner and Portfolio Manager Judy Moses.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
How can we support children, teens and young adults to navigate the return to an in-person world, after so long a time living in a largely virtual one?
As we emerge from the pandemic into an increasingly complex world, the old adage “When I was your age” does not seem to hold the same weight.
Our client webinar, Independent Thinking Panel Series: Reentry: Supporting Children (and Grandchildren) in a Changed World: A Conversation with Dr. Harold S. Koplewicz and Jeff Maurer, discusses how parents and grandparents can help the next generation transition to the new normal.
For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
The middle market represents over 200,000 U.S. companies, employs over 48 million workers, and makes up about one-third of private sector GDP. It can be seen as a bellwether for the U.S. economy.
Our client webinar: Independent Thinking Panel Series: Investing in the Middle Market: a Conversation with David Golub, led by Evercore Wealth Management Partner and Portfolio Manager, Stephanie Hackett, explored current opportunities and risks in this diverse – and surprisingly resilient – sector.
For more information on this webinar and others, please contact us here.
Our client webinar: Resetting Relationships: A Conversation with Dame Karen Pierce DCMG, British Ambassador to the United States, was a timely discussion, hosted by Evercore Wealth Management Partner Jewelle Bickford.
The engaging webinar covered the Ambassador’s views on the developing relationships with the Biden Administration, Britain’s post-Brexit trade discussions with the European Union, the COVID-19 vaccination rollout, and U.S. and U.K. relations with China.
For more information on this webinar and others, please contact us here.
With just over five weeks until the New Year countdown begins, we’ve learned a lot – and we have a lot still to learn.
Our client webinar,20/20 Vision: Investing in the Waning Days of a Wild Year, featured Evercore Wealth Management’s Chief Investment Officer John Apruzzese and Portfolio Managers Martha Pomerantz, Tim Evnin and Brian Pollak, in an engaging discussion of the investment risks and opportunities in this period of significant change.
The full replay can be accessed here.
Unexpected long-term care expenses can impact your overall financial plan.
Our client webinar: We’ve Got This: Successful Aging Takes a Team features Jeff Maurer, Chairman of Evercore Wealth Management, Jennifer Tse, Evercore Wealth Management Wealth & Fiduciary Advisor, and Joanna Gordon Martin, Founder and CEO of Theia Senior Solutions, in an engaging discussion on managing one of life’s most challenging transitions.
You can view the presentation for We’ve Got This: Successful Aging Takes a Team here. For further information on this event, please contact Aline Sullivan at aline.sullivan@evercore.com or 203.918.3389.
Municipalities across the U.S are dealing with the aftermath of Covid-19 – some states struggling more than others.
Our client webinar: Rumors vs. Realities in the Municipal Bond Market: How Bad is It? features Evercore Wealth Management Partners Jim Holihan and Judy Moses, and Howard Cure, Director of Municipal Bond Research, in a discussion of our current outlook for this asset class and the role of municipal bonds in client portfolios.
The full replay can be accessed here.
Do the dislocations in U.S. commercial and residential real estate this year present more opportunity or risk?
Our client webinar, Reappraising Real Estate: An Evercore Investment Roundtable covered a lot of ground, from U.S. commercial offices, warehouses, apartment buildings and more, along with the outlook for interest rates, rents and supply and demand flows. Our speakers Garett Bjorkman of the CIM Group, David Silvers of US Realty Advisors, and Jon-Paul Momsen of Harbert Management Company, and Evercore Wealth Management Partner and Portfolio Manager Stephanie Hackett, led an engaging discussion on this rapidly evolving asset class.
The full replay can be accessed here.
The coming election will reshape the United States, impacting us all.
Our client webinar: The 2020 Election: The Political, Planning and Investing Outlook, discussed key investing and wealth planning considerations. Speakers included Sarah Bianchi, Head of U.S. Public Policy and Political Strategy Research at Evercore ISI, and Evercore Wealth Management Chief Investment Officer John Apruzzese and Wealth & Fiduciary Advisor Julio Castro.
The full replay can be accessed here.
Behind every great woman is a great career sponsor.
Our client webinar, Beyond Mentorship: Finding & Becoming an Effective Sponsor, examined the significant differences between mentorship and sponsorship, and explored ways to not only find an impactful sponsor, but to become one as well. Featured speakers included Lori Tauber Marcus, a career coach to C-Suite and high potential leaders, and Dr. Sheila Robinson, Founder and Publisher of Diversity Woman Media. Evercore Wealth Management Partner and Financial Advisor Jewelle Bickford moderated.
The full replay can be accessed on our client site, or here.
New York City is far from the verge of bankruptcy, says Howard Cure, head of municipal bond research at Evercore Wealth Management.
There are real pressures on budgets but plenty of mutual funds, insurance companies and other institutional investors still willing to lend to the city.
For more information on bond research at Evercore Wealth Management, please contact us. To read the article, click here.
How can we be truly effective in our charitable giving?
Our client webinar Giving When the Need is so Great: A Discussion with R.T. Rybak and Milton Speid explored vehicles for change, engaging with non-profit organizations, and making a lasting difference through our families’ giving. Our speakers were R.T. Rybak, the CEO and President of The Minneapolis Foundation, Milton Speid, the head of VC Include, and Dan Stolfa, Wealth & Fiduciary Advisor at Evercore Wealth Management.
The full replay is available to watch here.
Divisions in American society have always run deep.
Our client webinar Finding Common Ground in a Divided America: A Discussion with Jonathan Haidt features the best-selling author of The Righteous Mind: Why Good People are Divided by Politics and Religion and co-author of The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting Up a Generation for Failure. Jonathan was interviewed by Evercore Wealth Management Partner Jewelle Bickford.
The full replay can be accessed here.
The shift to digitized personal finance is rapidly accelerating, leaving many with urgent questions on how to make the best of the new digital normal.
Our client webinar: Thriving in a Digital Age: A Primer (and More) on Moving Your Financial Life Online, is led by Evercore Wealth Management’s Chairman Jeff Maurer, Portfolio Manager Jonathan Bergner, and Wealth & Fiduciary Advisor Ashley Ferriello, who discuss best practices on transitioning your financial life online.
If you are interested in learning more, the full replay can be accessed here.
Stranger Than Fiction: A Conversation with Steven Brill and Paul Steiger, a client webinar hosted by Evercore Wealth Management on June 9, 2020, explored the drivers of misinformation and disinformation, and their potential impact on our health, our political process, and society.
Steven Brill is the co-founder and co-CEO of News Guard, the founder of CourtTV, the executive producer of Trial By Media and the author of several books, including the New York Times best seller America’s Bitter Pill, on U.S. healthcare. Paul Steiger is the founder of ProPublica and a former long-term Managing Editor of the Wall Street Journal and former Chairman of the Pulitzer Prize Board. Aline Sullivan, the editor of the Evercore journal Independent Thinking, moderated.
If you are interested in learning more, the full replay can be accessed here.
What are the long-term consequences of the Covid-19 pandemic? What choices we will make on the road to global recovery?
In the second of the series, Now and Next: A Webinar Series with Futurist Andrew Zolli on Resilience & Recovery, we considered a structural framework for a post-COVID world, including our relationship with climate, technology, and the media. Andrew Zolli, the global impact lead of a high-frequency imaging organization Planet and the author of Resilience: Why Things Bounce Back presented the event, which was introduced by Evercore Wealth Management Partner Jewelle Bickford. For more information on this webinar series and our other educational programs, please contact us here.
Taking a gap year is an attractive alternative to starting college online, but to use this strategy effectively, it’s important for students to develop an authentic, practical project.
To learn more about our recent client webinar: College & Covid: a Q&A for Families, and other educational programs at Evercore Wealth Management please contact us here.
Evercore Wealth Management’s client webinar on April 21: Now and Next: A Webinar Series on Resilience & Recovery featured Andrew Zolli, futurist and co-author of the novel Resilience: Why Things Bounce Back.
Andrew discussed key resilience factors, and suggested cogitative and strategic approaches to maintaining resilience during the COVID-19 pandemic.
The webinar was also moderated by Jewelle Bickford, Partner and Financial Advisor at Evercore Wealth Management.
If you are interested in learning more, the full replay can be accessed on our client site or contact us here.
Recent gains in the markets provide a real opportunity to re-assess wealth plans to make sure they reflect individual needs and risk tolerance. That was the view at the Evercore Wealth Management Webinar, The Long Road to Recovery, on April 16, 2020. CEO Chris Zander moderated a panel led by Chief Investment Officer John Apruzzese and included Partners and Portfolio Managers Tim Evnin and Brian Pollak.
Other highlights included:
● Unprecedented market volatility over the past few weeks have brought the equity markets back to where they were in the middle of last year. Evercore Wealth Management portfolios were stressed, but for the most part did not exceed our modeled maximum drawdown for balanced accounts and we helped our clients remain calm.
● The path forward hinges on a combination of testing, therapeutics and vaccines. A third of the U.S economy is closed, 22 million unemployment claims have been filed, and GDP has fallen in the range of 25 to 50%. All of this bad news is set against the massive stimulus of the CARES Act and the trillions of dollars the Federal Reserve is employing to support individuals, companies, municipalities, and the credit markets. The equity markets’ recent run appears to be in part a reflection of investor optimism that our economy will enter the recovery phase in the near term. Our assumption is the many efforts to address the Covid-19 challenges at the therapeutic level will eventually result in success and the economy will recover.
● The recent gains also reflect the heavy weighting of the five Big Tech companies in the S&P 500 index, which together account for almost 20% of the index and make it an imperfect reflection of the overall economy.
● In the growth portion of clients’ portfolios, the focus has been on upgrading quality and durability. Entering the recent period of extreme volatility, our investment team revisited the existing portfolio to test each company’s ability to withstand the downturn. In parallel, the team sought to find opportunity to invest in high-quality companies that became mispriced. The result was several changes – the removal of three companies judged to be at risk and the addition of two that we believe will weather the challenge. The team also added to existing positions that appeared to have been overly punished in the sell-off.
● Defensive assets – primarily municipal bonds – were also quite volatile in the quarter but regained their market value after the panic selling. We remain comfortable that these assets in client portfolios are indeed defensive and don’t present default risk even if there is risk of ratings downgrades. Municipal bond portfolios remain a valuable ballast to equity exposure. In the more credit sensitive areas of fixed income, the team is looking to increase exposure selectively in both the liquid and illiquid markets. While the liquid parts of the market have rallied substantially, opportunities remain in illiquid stressed and distressed credit.
As we move into the next phase of the Covid-19-driven economic crisis, there remains considerable uncertainty and there will likely be additional volatility. Having a wealth plan in place and sticking to that plan through the volatility remains the best approach to long-term financial well-being. This is an excellent opportunity to revisit that plan to ensure that it accurately reflects income needs, risk tolerance and estate planning strategies.
Please contact us for further information or to discuss your individual and family wealth plans.
Increasing cyberattacks are among the unfortunate side effects of COVID-19.
Our latest webinar, Cyber-Aware in a Pandemic, featured Elsa Ferreira, Chief Information Security Officer at Evercore, Bart McDonough, the CEO and Founder of Agio, an Information and cyber security services provider to the financial services companies, and Evercore Wealth Management Partner and Wealth & Fiduciary Advisor, Kate Mulvany.
To access the replay of Cyber-Aware in a Pandemic, please click here.
Investment and Wealth Management services are provided by Evercore Wealth Management, LLC an investment advisor registered with the U.S. Securities and Exchange Commission (the "SEC") under the Investment Advisers Act of 1940. Registration with the SEC does not imply a certain level of skill or training. Trust and custody services are provided by Evercore Trust Company, N.A. a national trust bank regulated by the Office of the Comptroller of the Currency.
Client retention rate is based on data from 06/30/24 – 06/30/25. Assets under management are as of 06/30/25