Dear Clients,
As we approach 2023, it is a perfect time of year to pause and reflect. I am particularly filled with gratitude for your loyalty during our transition to becoming a Registered Investment Advisor (RIA). This shift affirms our commitment to offering the highest caliber advice and client service. My team is diligently working behind the scenes to roll out a new suite of capabilities for you and your families. I’m excited to share these new developments with you as they become available.
This past year has certainly brought significant macroeconomic and geopolitical headwinds. Not all sectors equally shared the brunt of this volatility, though. Stock selection, like within our managed portfolios, became even more favorable relative to broad-based indices. We believe active management and tactical asset allocation will continue outpacing passive investment in 2023. To learn more about our outlook for next year, please read our Economic Q&A on page 2. We believe that although the future may remain volatile, there still lies opportunities.
We look forward to welcoming you to one of our client events this upcoming season. Several advisors on our team — Charlie Chesebrough, Mike Mongin, and Aaron Simpson — and I continue to host seminars on various topics in the Moran Wealth Management® Center for Financial Education. Additionally, we look forward to having you at one of our three remaining client dinners this year. A formal invitation should arrive in the mail soon if you missed our email eblast.
As always, please contact our office if you need assistance or have any questions. It is our privilege to be of service to you and your family. I hope you have a joyous holiday season and a prosperous New Year.
Have we reached peak inflation?
Yes, we believe that peak inflation is behind us. Core Price Index (CPI) data released this month showed headline inflation slowed in November to 7.1% from a 7.7% rise in October. Moving forward, we expect price pressures will continue easing but will remain above historical averages through next year. We believe this is primarily due to services inflation—as opposed to goods inflation—remaining stickier than anticipated. Inflation is defined as the broad increase in prices of goods and services. ‘Goods’ are any tangible object, while ‘services’ include anything from haircuts to pet care…
To continue reading, please download the full Moran Monthly Digest here.