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Mid-Quarter Newsletter – August 2020

Our Investment Philosophy

The last several months have been extraordinary to say the least and there are still so many unknowns in terms of the financial markets, our economy, and what our world will look like post-pandemic. As a firm, we have undoubtedly adapted how we communicate with our team, other business professionals, and our clients. Throughout all of these changes, the element of our business that has stayed consistent is our investment philosophy. At Morton Capital, we’ve always taken a different approach to investing—one that we believe is the best way to provide the returns our clients need for their lifestyle while trying to protect them from the swings of the market. Our beliefs have remained the same since our founder, Lon Morton, started our company almost 40 years ago and we take great pride in carrying on his legacy.

As we continue to communicate virtually, our Investment Team recently created a video that speaks to how we design portfolios to help our clients get the most life out of their wealth. Watch the video to meet the team and learn a little more about us.

Watch our Investment Approach Video here.

 

Financial Advisor Success Podcast & RIA White Paper
Featuring our COO, Stacey McKinnon

Our Chief Operating Officer, Stacey McKinnon, was featured on a recent episode of Michael Kitces’s Financial Advisor Success Podcast. Michael is a well-known speaker, writer, and editor in the financial services industry. In the episode “Scaling an Advisory Firm by Finding New Talent Outside the Financial Services Industry,” Stacey and Michael talked in-depth about how Morton has grown and evolved as a firm in recent years. Stacey touched on our culture of trust initiative in 2017, our non-traditional approach to hiring talent from outside the industry, and the way we’ve restructured our compensation model.

Stacey also co-authored an RIA white paper with the CEO of PFI Advisors, Matt Sonnen, called “The New RIA Workplace.” The industry report explores the changes firms have had to make to their businesses since stay-at-home orders began. It also shares the pros and cons of both office and remote work environments, how leaders and managers are maintaining company culture during these times, and what the office of the future could look like.

Click here to listen to Stacey’s podcast with Michael Kitces and read the RIA White paper here.

 

Why Is Gold Going Up?

Gold is making headlines in 2020, as its performance leads most other asset classes year-to-date and investors are starting to take notice. In particular, Warren Buffet’s recent purchase of a gold mining stock has caught the attention of the media. Those who only think of gold as a “safe-haven” investment have been surprised by its strong performance even as the stock market rallied from its March low. But fundamentally, we believe that gold is not an investment at all. Instead, it’s just another form of money like the U.S. dollar or the Euro. So, if it’s not an investment, what’s driving this big rally in gold? While the answer can be complex, we’d argue that there are two main areas on which to focus when it comes to understanding the price of gold: the money supply and investor sentiment. Read the Full Article here.

 

A Conversation About Change with Chris Galeski
Featuring Retired PGA Tour Player Peter Tomasulo 

Chris Galeski, Wealth Advisor and Partner at Morton Capital, speaks with Peter Tomasulo, retired PGA Tour player and Director of Investor Relations at Lyon Living. In this 30-minute video interview, they reflect on their former sporting careers, life lessons, family, and the triggers and milestones that opened the door for transition and career change.

 

Watch the video!

Whitepaper – The New RIA Workplace

Our industry, our country, and the entire world was turned on its head in March as local and federal governments began to institute widespread stay-at-home orders. While some RIAs were caught flat-footed from a technology perspective, the RIA industry has been luckier than many brick-and-mortar establishments that needed to completely shut their doors during this unprecedented time. With most custodial systems, financial planning tools, CRMs, performance reporting technology, and data file servers now in the cloud, many RIAs did not miss a beat when employees fired up their internet-connected computers from home and logged into their typical applications.

Working from home has undoubtedly required our teams to work harder, but at a high level it has been fairly close to “business as usual.” Clients are still being serviced: accounts are still being opened, wires are still being sent, model portfolios are still being implemented and rebalanced. Even those RIA owners who have historically been the staunchest opponents of remote work have had to admit that this forced experiment has gone better than anyone could have imagined. And as the stay-at-home orders have continued from weeks to months, many are questioning if the traditional workday will ever look the same. Much has been written and discussed about the technology advancements not just in our industry but in society at large, but for the first time, we are now examining the physical space we work in and what the physical office of the future will look like.

Click here to reach the full article.

Authors:
Stacey McKinnon, Morton Capital, COO
Matt Sonnen, PFI Advisors, CEO

Featuring:
Michael Kossman, Aspiriant, COO
Brandon McKerney, Columbia Pacific Wealth Management, Director of Operations

 

MC Stories – A New Way of Working

Many of us experienced feelings of uncertainty and excitement when the stay-at-home order was first announced. Uncertainty from not knowing how long it would last or if we would be able to work in the same way. Excitement for the conveniences of working from home. No commute, more time with family, and comfortable apparel have been a few silver linings in the midst of a pandemic. But as time passes, we are all starting to realize that our new normal may be vastly different than the life we knew a few months ago. While working remotely has its benefits, it can also be isolating, result in longer work hours, be less intellectually satisfying, cause mediocre collaboration, and result in fatigue that could hinder innovation. To combat these negatives, we must find a way to proactively discover what it means for us to thrive in this new normal. Below are a few tips I have learned along the way to help you re-energize your workday:

Pick a few locations

Remember those days at the office where you had meetings in conference rooms, sat at your desk, visited someone in the breakroom, or went out to lunch? Mobility is just as important at home. Pick at least three locations (ideally one can be outside) and rotate between them throughout the day. If you don’t have a mobile laptop, then answer emails on your phone for 30 minutes while you sit outside.

Get the right equipment

Remote work probably won’t ever go away – it may be wise to budget a laptop purchase in the near future, start planning for an at-home office or get yourself a laptop stand so that you are not bent over in an uncomfortable position all day. If your eyes hurt from too much zooming, invest in computer glasses to decrease fatigue and strain. Do what you need to do to set yourself up for success.

Overmanage your calendar

Don’t let email or your calendar control you – control it. Spend 15 minutes every morning reviewing your calendar for the next three days and plug-in time for emails (3x/day for 30 minutes…otherwise close outlook/turn email off), schedule projects (this includes emails that take longer than 5 minutes to respond to) and block creativity/innovation time. Re-evaluate every day whether the goals you set are achievable and if something needs to be rescheduled or delayed, just ask (in advance, not at the deadline).

Invest in yourself

We can’t give our best to others if we don’t give to ourselves. What makes you feel recovered – exercise? Netflix binge? cooking? chatting with your kids? Whatever your ‘thing’ is that makes you happy, do it daily. Just because you get the conveniences of working from home does not mean you should spend all of your time working. Plug time into your calendar to invest in yourself.

Find time to connect with others

The time will come when we will reenter the workplace, and as long as it is safe for you to do so, embrace the ability to be around people again. As humans, we energize one another through non-verbal communication, something that has been lacking over the past few months. Take advantage of any opportunity to connect with someone, even if you need to stay 6 feet apart. Laugh a little and prioritize conversations that are personal and authentic.

Remember that as humans, we are naturally inclined to be together. While technology has given us the benefit of digital communication, it is also important that we do not lose sight of the benefits of human connection.

Staying Connected During COVID-19 – Final Webinar

Our final COVID-19 webinar was moderated by our COO, Stacey McKinnon, who asked the following questions of Wealth Advisors Bruce Tyson and Jason Naiman related to the impact of government policy on investor portfolios: 

  • We have seen a massive amount of money printing over the last decade – how has that impacted stocks and bonds?
  • How might the pandemic impact the election?
  • How should business owners think differently coming out of the lockdown?

To register for access to these online events and/or submit any questions you would like our Wealth Advisors to answer for you please email us at questions@mortoncapital.com

https://vimeo.com/mortoncapital/stayingconnectedwebinar05052020

We look forward to you joining us on future webinars!