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As we count down the days to 2024, we’d like to take a moment to reflect on 2023 defined by some interesting numbers that tell the tale of a unique year. 33,888,140,000,000 – The U.S. National Debt in dollars as of December 4th. The Federal debt to GDP ratio now stands at 122%. That represents $100,840 per U.S. citizen.[1] 1,080,000,000,000 – The total amount in dollars of credit card debt owed by Americans. This number topped $1 trillion for the first time after rising $45 billion in the second quarter and $48 billion in the third quarter.[2] Although revolving debt as a dollar amount is high, and current rates are more punishing than we have seen in decades, at 6.3% of disposable income, revolving debt is below the 6.6% 2012 – 2019 average.[3] Couple this with the fact that most mortgage holders were able to lock in low mortgage rates...
Regularly reviewing existing estate plans is a good financial practice, and the looming change to the lifetime estate/gift tax exemptions at the end of 2025 makes now an opportune time to review your plans. Two powerful tools in estate planning are time and interest rates. With time, the more you have remaining, the greater the number of estate planning options available to you. With interest rates, the lower the prevailing rates, the more likely investments can achieve excess returns, thus the more attractive many strategies become. The ultra-low interest rates of the past decade were a boon for many estate planning strategies, but the increase in interest rates does not mean the end of effective estate planning opportunities. Indeed, there are a handful of strategies that become even more attractive in a higher interest rate environment. Rising interest rates influence the effectiveness of various estate planning tools. Leveraging these tools...
Manchester Capital Management is proud to announce that Founder and Executive Chairman, Ted Cronin, has once again been honored among Barron’s “Top 100 Independent Financial Advisors.” According to Barron’s, the ranking reflects the volume of assets overseen by the advisor and their team, revenues generated for their firm, and the quality of the advisor’s practice. Ranked 12th this year, it is Ted and Manchester Capital’s 17th consecutive mention on the list. Since its inception, Manchester Capital Management has been synonymous with industry-leading financial advisory services that emphasize personalized strategies tailored to individual and client families’ unique goals and objectives. Since its founding over 30 years ago, Manchester has evolved into a team of 35 employees who are dedicated to fostering a culture of innovation, trust, and integrity within the firm. “This is a wonderful recognition of our Manchester team and the incredible clients we have the privilege of serving. Our...
A Conversation with Managing Director of Investment Research Bart Earley, CFA and Senior Investment Analyst Lorry Delille, CFA about current opportunities in Venture Capital Investing.
There are few concepts more central to achieving long-term investing success than portfolio diversification. This idea, which at its core is simply not having all your eggs in one basket, has taken on added complexity in recent years thanks to the widespread adoption of so-called alternative investments. The term has come to encompass an incredibly diverse range of strategies and approaches with a correspondingly wide range of potential outcomes for investors. Alternative investments can provide important benefits to investors if approached carefully and according to a sensible investment plan, especially at times with significant market uncertainty such as we’ve experienced in recent years. Alternative investments (also called alternatives, or alts), writ large, can be difficult to categorize. We consider them to be anything that is not a traditional stock or bond market investment. The range of alternative investment strategies includes: An important feature of each of these categories of investment...
One of the special things about families is that each one is completely unique. Each member with their own lived experiences and interactions, and the context in which the family is embedded, creates that uniqueness. While each member might be familiar with their family’s idiosyncrasies, navigating these can be challenging, especially when it comes to behaviors around money. Family meetings, however, are one of the single best tools families can use when confronted with decisions that will affect all family members and future generations. These meetings can bring a family closer together, foster communication, and help the family plan for the future. In this article we will explore the importance of family meetings and provide guidance on how to make them as productive and enjoyable as possible. Bringing a family together through a meeting signals that there is some shared purpose and reinforces the idea that each family member is...
Following the collapse of Silicon Valley Bank and Signature Bank, banking regulators appeared on Capitol Hill last week. Fed Vice Chair for Supervision Barr and FDIC Chair Gruenberg testified before the Senate Banking and House Financial Services Committees about the recent bank failures. The Federal Deposit Insurance Corporation estimates it will cost $22.5 billion to backstop both Silicon Valley Bank and Signature Bank, guaranteeing all deposits. After the initial shock of these bank failures and the heightened sensitivity around bank holdings, the market rapidly adjusted to the new risks with the quickest monetary tightening in 44 years. Still, banks face several headwinds. First, the yield curve remains inverted—longer-term interest rates are lower than short-term rates. For example, the 10-year Treasury is yielding 3.38%, while the Fed Funds rate is 5%. This inversion is the largest in 42 years. It is generally viewed as a bearish signal for the economy,...
FOR IMMEDIATE RELEASE [CHARLOTTESVILLE, Virginia, February 9, 2023] Jeff Hall will be assuming Manchester Capital Management’s CEO position from Founder, Ted Cronin, following 30 years of industry-changing leadership pioneering the multifamily concept. Jeff will lead the bi-coastal firm from the Charlottesville office and will be responsible for the day-to-day management and operational matters. Ted will serve as Executive Chairman of the Board and continue to be involved with client service and business development. “Jeff is an effective and proven family office professional who will spur innovation while continuing Manchester’s client-first culture,” stated Ted. “The Board of Managers is confident that Jeff’s commitment to Manchester’s client families, to the colleagues, and to maintaining the firm’s independence as an employee and client owned firm.” The firm offers innovative investment strategies, including direct real estate, access to unique alternative strategies, and a wide variety of Family CFO and concierge services. Manchester has been consistently...
Founder, Ted Cronin and the Manchester Capital team have been ranked 8th in Barron’s prestigious annual ranking of “Top 100 Independent Financial Advisors” for 2022. This is the 16th consecutive year Ted has been recognized among the top 100 Independent Financial Advisors by Barron’s. “I am proud to be part of the Manchester team, and this recognition is a tribute to our wonderful clients and our dedicated employees, who remain committed to helping our client families preserve their wealth, culture, and values for generations to come.” – Ted Cronin According to Barron’s, the ranking reflects the volume of assets overseen by the advisor and their team, revenues generated for their firm, and the quality of the advisor’s practice. Read full article on barrons.com › For more details about Barron’s ranking process go to Barron’s Methodology for Ranking Financial Advisors | Barron’s (barrons.com).
