Broker Check

Financial Services Newsletter July 2016

July 19, 2016

Summer 2016 Newsletter

Welcome to our great West Michigan summer!  Whether you are sunning on the beach, hitting the golf ball, boating on the lake, or smelling the roses in your garden, it is a great time to pause and appreciate the wonders of nature and the beauty all around us.


A new word has crept into our vocabulary lately…BREXIT!  Britain’s decision to leave the European Union caught many by surprise and created much uncertainty as to what that might mean to the global economy.  You know what the financial markets hate – UNCERTAINTY!  Predictably, the immediate market reaction was severe with an almost 6% decline in the S&P 500 in two trading days.  Perhaps less predictable was the speed of the recovery.  The S&P 500 ended the second quarter with its strongest three-day rally since February, nearly offsetting all the Brexit driven declines by rising 4.9%.  As of June 30, it’s a mixed bag.  The Dow is up 2.9%, S&P 500 +2.69%, NASDAQ Composite -3.29%, MSCI-EAFE -6.28%, MSCI Emerging Market +5.03%, and the Barclays U.S. Aggregate Bond +5.31%*.  It doesn’t appear that the Fed is going to raise rates anytime soon, so historically low interest rates are likely to continue.  Great for borrowers, a challenge for income investors.  Overall we continue to be cautiously optimistic.


In local news, we are growing to serve you better!  DeLong & Brower P.C. is very pleased to announce our merger with the Buursma Agency effective July 1, 2016.  Since 1964, the Buursma Agency has provided exceptional service to their clients, specializing in individual and group insurance, HR support, and wellness programs in the Western Michigan area.  Kurt Buursma, Rachel Keur, and Polly Roark have relocated to our office and will retain the Buursma Agency name.


In addition, the DeLong & Brower financial services team welcomes Jill Gruppen.  Jill joined us on July 11 as an administrative assistant.  She is a graduate of Anderson University, and for the past 8 years has served in a variety of office and administrative roles.

We are excited about these significant enhancements to our team.  We believe these positive additions again demonstrate our ongoing commitment to being a full service financial provider, dedicated to exceeding the needs and expectations of you, our valued clients.


As mentioned in our Spring Newsletter, the Dept. of Labor was finalizing regulations that would affect how advisors are allowed to deal with clients’ retirement accounts.  The rules have been finalized, and procedures are being developed to comply when the regulation goes into effect next year.  As a result we have or will be making changes to your retirement accounts with us, typically during our review meetings.  We will cover the details if and when the regulation impacts your account.  We feel it is no cause for your concern, just a necessary reaction to the new regulations.


Joe to Go: 

A reminder about the contribution limits for your tax deferred accounts.  Keep saving!  It is not too late to open one up if you need to.  Give us a call and we will help!!

Type of Account                               Regular                Catch-up

401(k)                                                   $18,000 $6,000

Simple IRA                                          $12,500 $3,000

IRA                                                         $ 5,500                  $1,000

Roth IRA (Income Limits)              $ 5,500                  $1,000



Jim Hagel, CFP®                        Joel Johnson, AIF®

Securities offered through Cetera Financial Specialists LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership from any other entity.  


* Bloomberg-Investors cannot invest directly in indexes.  The performance of any index is not indicative of the performance of any investment and does not take into account the effects of inflation and fees and expenses associated with investing.