March 20, 2023
RMB is here to help you navigate tax season with tips and support in response to some of our most frequently asked questions. Deadlines Tax Day is Tuesday, April 18. This is the deadline to file or request an extension, make 2022 IRA and HSA contributions, and make First Quarter 2023 estimated payments.
Inflation and the Money Illusion
March 20, 2023
Overview Compared to the strong gains posted in January, February was a difficult month for the markets. The only asset class to produce positive returns was U.S. bank loans, ending February marginally up with a gain of 0.6%. The S&P 500 ended the month down 2.4%, and the Bloomberg U.S. Aggregate Bond Index ended the month down 2.6%, erasing almost all of January’s gains. In fact, February was the fifth-worst monthly decline for bonds since 1993. Bonds are now up only 0.4% for the year to date, after ending 2022 down 13%.
Impact of Recent Bank Failures
March 14, 2023
Introduction The closure of Silicon Valley Bank (SIVB) on Friday and Signature Bank (SBNY) over the weekend has rattled markets and created concern for investors. SIVB was the second biggest bank failure in history and the largest since the Great Financial Crisis. On Sunday evening, U.S. regulators announced that all deposits, FDIC insured or not, held in SIVB & SBNY accounts would be guaranteed.
March 14, 2023
Byline Trevor Isham, CFP®, Partner, Senior Wealth Manager
At RMB, we are setup to work with affluent families that occupy a unique position of wealth and success relative to global norms. However, as I’ve learned, wealth does not protect you from some universal psychological baggage that has infected the modern world. The one I’d like to unpack today is what I call the “Scarcity Fallacy.” Let’s start with a story. Keep in mind the numbers in this story don’t matter at all, it’s the emotions and the response to those emotions that matter.
RMB Named to Inaugural “RIA Edge 100” List
March 1, 2023
RMB has been honored by national industry media outlet WealthManagement.com by being named to its inaugural “RIA Edge 100” list. The list is “an attempt to identify those firms that are seeing the most success while continuing to provide high-quality, hands-on service to an expanding client base,” the publication wrote. The goal is to not just recognize rapid growth, but firms that are growing in the right ways.
Tax Preparation Reminders and Important Dates
February 13, 2023
Byline Brian Klein, CFP®, Wealth Advisor
We all know life’s certainties: death, taxes, and the agony of prepping and completing said taxes. Unfortunately, our investments into “Fountain of Life” expeditions have not gone to plan. We’ve decided to stick to our strengths in tax planning and organizing. The coming months can be a hectic time gathering tax forms, financial statements, and remembering taxable events that occurred the year prior. Below are common forms, income sources, and deductions that should be provided to your tax accountant. Income:
Meet the Curi Capital Team: Spotlight on Sheldon Fox, Senior Director, Family Office Services
February 2, 2023
At Curi Capital, it’s our mission to help clients build true wealth, however they define it. Our team brings the knowledge, experience, and passion to help clients meet their goals through a wide range of financial services and solutions—and we’d love for you to meet them. This month, we sat down with Sheldon Fox, Senior Director of Family Office Services, to discuss his transition to the Curi Capital team following the KDI acquisition, the evolution of his career, and where he finds joy outside of work.
What you need to know about the SECURE Act 2.0
January 30, 2023
Byline Brian Janecke, Tax Planning Strategist, Family Office Services, Brian Klein, Wealth Advisor
The SECURE 2.0 Act of 2022 was signed into law on December 29, 2022, by President Biden. It was part of a larger $1.7 trillion federal omnibus spending package providing over 90 new retirement plan provisions. Summarized are some of the most important aspects of this new legislation set to reshape how Americans plan for retirement. Required Minimum Distributions
RMB Names Five New Partners for 2023
January 26, 2023
RMB is proud to announce five new partners for 2023. The new partners are Peter Bach, CPA®; Amber Hickory; Ryan Kennedy, CFA®; Bob Marchese; and John O’Connor, CFA®. The firm now has 35 partners. RMB’s founding partner, CEO and co-chief investment officer Dick Burridge said that the new partners, ranging in tenure from one year to seven years, are a critical link from the firm’s longtime leaders to its future.
January 25, 2023
Subtitle Volume 4: January 2023
Byline Trevor Isham, Partner, Senior Wealth Manager
Introduction Happy New Year! The content of our team’s annual letter is divided into four sections: One: A reiteration of those fundamental philosophies we at RMB hold to be true in the world of financial planning and investing. Two: A recap of the year from an investment perspective. As a reminder, we are not predictors of the market, and it would be detrimental to think anybody had that skill. However, I think it’s informative to look back on where we have been as further edification of the fundamental philosophies.