This year, the busy elves at The Glenview Trust Company partnered with the caring staff of ElderServe to spread holiday cheer to more than 40 seniors in our community. Our staff joined together to shop, wrap gifts, and lift the spirits of seniors in our community that may not have family or friends to support them during the holidays. We sincerely enjoy the opportunity to give back to our community.
Recent Market Volatility
In the last ten trading sessions, the S&P 500 dropped 10% from its all-time high set January 26th and volatility, largely absent the past two years, returned with a vengeance. While we knew a correction was long overdue—the last one was in January of 2016—the violent nature of this turn was stunning. Many investors had been lulled into complacency after 13 consecutive months of positive returns, the longest streak in history.
Although many theories abound, we think the selloff resulted from the market properly reassessing the risk of inflation, given the strong employment and wage growth reports last week, and the implications of higher inflation for interest rates and Fed policy going forward.
Identity Theft has been an important topic in the news and in our many conversations with our clients and we want to help you feel empowered to act should this happen to you.
The following link, “Coping with Identity Theft”, outlines the steps you need to take in the event you or your family falls victim to identity theft.
Your Glenview team works extremely hard to protect your sensitive information, including all information held in electronic formats. We also work to stay current on this important subject and will continue to share our findings and best practices for protection against this crime.
As our Client Service Team works with you throughout the year, please let us know your concerns on this topic and any others. Our number one priority is always to provide the best customer service and to act quickly when important events in your life require our assistance.
All of us at Glenview wish you a happy and prosperous 2018.
July 19, 2017
Scott was selected to be one of the 60 professionals that will be in the Leadership Louisville Class of 2018. His incredible journey is about to begin! The Leadership Class is a diverse group that will spend the next 10 months meeting decision makers and examining the issues that matter most to Louisville. The biggest advantage comes in the form of developing lifelong friendships and social resources, as they increase their influence to change and innovate the way we do business in Louisville.
Click here for additional information
Prior to the election, the economy was looking late cycle. Margins for US companies had peaked, the labor market was at what most consider full capacity, and the global economy – while doing okay in 2016 – was likely at the tail end of the benefits it got from supportive monetary policy and large stimulus in China. The results of the US election have given markets hope these forces will be arrested through a cocktail of deregulation, tax cuts, and repeal of the Affordable Care Act, and markets have responded accordingly, sending stocks much higher and most bonds much lower.
The Glenview Trust Company has a holiday tradition of giving back to our community. For 2016 we decided to participate in the Maryhurst Annual Holiday Gift Drive. We provided personalized gifts to seven young girls.
Glenview Staff left to right: Rebecca Middleton, Ann Marie Elpers, Doris Skees, Margie Haines, Debbie Rodgers Lisa Mercado, Madison Bennett and Robyn Raque
In a shocking come from behind victory, Donald Trump won the U.S. Presidential election last night. It was shocking because, as we saw with the Brexit vote in June, most election polls failed to capture the degree of U.S. citizens’ unease and anti-establishment sentiment. As the outcome became clearer money fled global equity markets–at one point the S&P 500 was down over 5%–and moved into safer assets–10 year Treasury bond yields declined a similar percentage. As this is written mid-day Wednesday, the trade has reversed and the S&P 500 is up about 1% and 10 year Treasury yields are higher at almost 2% for the first time since early 2016. So, will President-elect Trump be Good Trump or Bad Trump for markets?
Some families are fortunate to have grandparents who are willing and able to assist with the cost of their grandchildren’s college expenses. There are many ways to provide assistance. Which options are better for a specific family depend on several factors. Some of the ways that grandparents can subsidize educational expense include direct payment of tuition to the institution. Such payments are not considered gifts which apply toward the annual exclusion for Gift and Estate tax purposes and thus may be in addition to annual $14,000 transfers. If a senior is feeling very generous, $14,000 gift transfers may be of appreciated securities to a grandchild, in a lower tax bracket than the donor, and may reduce the sting of income tax upon the liquidation of the investment. Funding a 529 college savings account in their own name, a child’s name or the grandchild student’s name is an option when the student is young and the funds have time to grow before the student begins college. Continue reading
Over the years Glenview Trust has really enjoyed its “Enriching Life Series” partnership with the Kentucky Center for the Arts in which we sponsor some of their concerts each year. Recently, Glenview sponsored the Vince Gill concert. Needless to say, we were all delighted when Vince Gill dropped in on our preshow reception and talked to everyone—how relaxed and engaging he was. The concert was marvelous. So much talent!
Glenview Staff (Left to right) Stephanie Morgan-White, Sherry Feldpausch, Tawana Edwards, (Vince Gill), Scott Neff, Robyn Raque, Regina Beckman, Joseph Mulloy, Emily Lawrence
Last week, in what came as a surprise to many, United Kingdom voters elected to leave the European Union. Global market reaction has been swift with the British pound sterling dropping and the dollar and yen strengthening, global equities falling and global bond yields moving lower. Although Friday’s negative market reaction has been significant, we think it will be short-lived.
We believe the greatest negative economic impact will be concentrated in the U.K. with a drop in business and consumer confidence and a decline in business spending. Europe’s growth could weaken by ½-1% this year but we still expect modest GDP growth, not a recession. It seems we are seeing a long-term weakening of the pound sterling and a short‐term weakening of the euro. Equity markets should re‐price quickly and then begin to stabilize, and bond yields will remain lower for longer.