Waypoints

Market Perspectives - First Quarter 2021

Discretion is the Better Part of Valor

For the past 4 months, the increased pace of vaccinations has led the way for reopening of the US economy and a comeback for market sectors most hurt by the pandemic. In fact, market watchers have placed stocks into two categories: COVID-winners and COVID-losers. 

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Did you know?

Did you know?

Under the SECURE Act of 2019

Good: Individuals can make tax deductible contributions to an IRA at any age. Previously individuals over 70½ could not make further contributions. Also, those born on or after July 1, 1949, will not be required to take a required minimum distribution from their IRA/retirement plan until age 72.

Bad: Designated beneficiaries must now withdraw the entire account by the 10th calendar year following the account owner’s death. Previously, beneficiaries had the option of withdrawing the account over their lifetime.

In the Spotlight: Galilee Church Elects John Clunan to the Vestry

In February John was elected with three other Galileans to the church’s vestry and is privileged to serve as the Treasurer for the next 3 years. He looks forward to using all his experience at Waypoint to best serve Galilee Church and its missions.

Market Perspectives - Fourth Quarter 2020

A Happy End to 2020 for the Markets

Markets crave certainty and they got more of it in the fourth quarter. Equities across the globe moved higher, ending a tumultuous year with strong returns.

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In the Spotlight: Welcome Baby Maya!

In the Spotlight: Welcome Baby Maya!

Waypoint is pleased to welcome Maya Rose Trovato to the family! Maya made her early arrival on October 16, 2020 as Nirali & Tony’s first child and the first grandchild on both sides of the family. Needless to say, she has been smothered in love by her parents, grandparents, and uncles. Maya is now three months old, and is teething, constantly moving, and sleeping through most nights.

In the Community

In the Community

Sometimes inspired creativity and generosity can arise from difficult, challenging situations. So it was with Rebecca Gilmore, Assistant Principal Cello of the Virginia Symphony. Her personal mission is to keep live music alive in the Hampton Roads community. On one occasion, she graced the Ghent neighborhood of Norfolk with sounds of peace and hope from a Box Cello in the back of her Honda Odyssey decorated with Christmas lights. One of the selections played was “Here Comes the Sun” by The Beatles. We welcome the light.

Market Perspectives - Third Quarter 2020

Large Cap Growth Stocks are Expensive

U.S. equity performance started the quarter strong with large cap growth stocks returning 21% for the quarter before giving up 8 percentage points during the month of September as positive news on the unemployment, earnings and vaccine development fronts buoyed markets. 

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In the Spotlight: Cary Street Partners

We are proud of our new family! Cary Street Partners has recently earned some impressive national accolades:

  • 2020 Top 100 RIA Firms in the United States1 by Barron’s
  • 2020 list of the 300 Top Registered Investment Advisers2 by Financial Times

These accolades affirm our confidence that Cary Street Partners is a strong and dynamic firm and a great home for Waypoint and our clients!

1 https://www.barrons.com/report/top-financial-advisors/ria/
https://www.businesswire.com/news/home/20200803005177/en/Cary-Street-Partners-Named-2020-Financial-Times

In the Community: Susanna joins Virginia Beach Vision Board

In the Community: Susanna joins Virginia Beach Vision Board

Susanna Dellinger recently joined the board of Virginia Beach Vision, a group who advocates for initiatives designed to enhance the future success of Virginia Beach and the Hampton Roads region. The non-partisan group of local business and volunteer leaders dedicates their efforts to ensuring a vibrant future and quality of life for the city’s residents.

Learn more at www.virginiabeachvision.com.

Did you know?

Did you know?

As we approach the holiday season, this is a great time to plan out your year-end gifts. If you are planning to make gifts to charity, you may want to consider gifting appreciated securities or making a qualified charitable contribution with your required minimum distribution (RMD). Waypoint Advisors is happy to help with these gifting strategies.

Market Perspectives - Second Quarter 2020

Contradictions Abound...

US and international equities rebounded sharply in Q2 of 2020 from significantly depressed levels in Q1. All major equity indices had double digit growth for the quarter1. Though bond values typically go down when equities go up, U.S. bond indices were also up as investors continued to hedge their bets on the effects of the COVID-19 pandemic. Meanwhile, the economy continued to struggle. What gives? Let’s take a deeper look.

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In the Spotlight: Waypoint joins Cary Street Partners!

In the Spotlight: Waypoint joins Cary Street Partners!

After a long period of courting, Waypoint Advisors joined Richmond-based Cary Street Partners on June 30. We were attracted to Cary Street Partners because their structure allows us to continue to manage investments and work with clients and partners as we always have. Cary Street Partners will centralize some of the back-office work – operations, compliance, human resources and accounting. Waypoint will further benefit by having access to better technology, collaboration with others, and economies of scale as well as a solid foundation for the future.

Did you know?

Did you know the CARES Act enabled you to waive your required minimum distribution (RMD) due for 2020 from any defined contribution plans or IRA? If you have already taken your RMD, the 60-day rollover period has been extended until August 31, 2020. Waypoint Advisors is here to help you determine whether it is beneficial for you to take advantage of this opportunity.

(Source: IRS 2020-5, https://www.irs.gov/newsroom/irs-announces-rollover-relief-for-required-minimum-distributions-from-retirement-accounts-that-were-waived-under-the-cares-act)

Did you know?

Did you know that, as of July 16, the average 30-year fixed-rate mortage has fallen to a record low of 2.98%, the lowest level in the nearly 50 years of Freddie Mac's survey history? The 15-year fixed-rate mortgage dropped to 2.48%.

In the Community

In the Community

Beth has been invited to serve on the Southern Virginia Episcopal Diocesan Foundation Board which provides financial and investment management assistance to parishes, congregations, missions and agencies within the diocese to help support diocesan and parish activities.

Market Perspectives - First Quarter 2020

Silver Linings

We observed a family this week standing together in the median at the north end of Virginia Beach waving madly at a parade of honking cars that were decorated with balloons and streamers. It was their daughter’s birthday and her friends had found a creative way to have a socially distanced celebration. The 10-year-old birthday girl, festooned in a pink boa, a sparkling tiara, and yards of shimmering tulle, threw her arms up to the sky enthusiastically and danced with glee as she acknowledged each passerby.

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Family Perspectives - Personal "Business Continuity Planning"

During this coronavirus crisis, we all have been inundated with messages from companies outlining their Business Continuity Plans. This has caused many of us to think about our own personal plans in case something unfortunate were to happen.

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Give yourself a pat on the back if you’ve heeded the advice of your advisors and worked with your estate planning attorney to get all your important documents set up (e.g. wills, revocable trusts, and powers of attorney). Give yourself another pat on the back if you have worked with your team at Waypoint Advisors to ensure that your accounts are titled properly, and all your beneficiary designations are updated.

You may have already taken care of the big items such as your will and beneficiary designations, but have you also prepared a family member or trusted friend to take over day-to-day details in case you become ill or wind up in the hospital? When we think in terms of personal “business continuity planning,” we often overlook the possibility of short-term incapacity and inability to take care of everyday tasks like paying the bills. To prepare the person designated to take over these responsibilities, you may want to consider the following…

  • Keep a list of all bank accounts, investment accounts, and insurance policies with contact information for your advisors in a safe place and make sure your trusted family member or friend knows where it is.
  • If you don’t have joint bank accounts, make sure you have in place the appropriate powers of attorney so your trusted family member or friend can act on your behalf.
  • Talk through your monthly bills (e.g. mortgage/rent, utilities, phone, internet, credit cards, etc.) and ensure that your trusted family member or friend knows how to pay them.
  • Securely keep track of important user IDs and passwords for anything you log into online (e.g. banking, investment accounts, credit cards, email, and any bills you may pay online) and ensure that your trusted family member or friend has access to that information should they need it. A great way to do this is by using a secure password manager like 1Password or LastPass. You should then keep your master password in a safe and secure location that only your trusted family member or friend knows how to access.

Thinking through these things and outlining them for your loved ones now will save them time and energy down the road when you would most want them to be spending time with you.

In the Spotlight: Nirali earns CFP® certification

In the Spotlight: Nirali earns CFP® certification

We are very proud to announce that Nirali Trovato became a CERTIFIED FINANCIAL PLANNER™ professional in March. In order to become certified, she needed to meet rigorous requirements known as the "4 E's"- education, examination, experience, and ethics. Earning the CFP® certification means Nirali has joined a select group of competent and ethical personal financial planning advisors.

Congratulations, Nirali!

In the Community

In the Community

We’d like to make a big shout out to the United Way of South Hampton Roads for taking a leading role in our community’s effort to remediate the impact of coronavirus devastation and take care of our community’s most at risk citizens. We are proud that Waypoint Advisors generously supports United Way’s annual campaign and two of our team are United Way board members. The outpouring of generosity toward relief efforts has been extraordinary. If you would like to contribute to that effort, please go to Coronavirus Recovery Fund: https://unitedwayshr.org/coronavirus/

Market Perspectives - Fourth Quarter 2019

In spite of storm warnings, a banner year for equities

The concerns about the U.S. economy, sparked by trade tensions with China, slowing global growth and an overzealous Federal Reserve, seemed to have been ignored in 2019. The S&P 500 finished the year up 31.5%, the highest return since 2013. In fact, 2019 was a banner year across all equity categories and an outstanding year for bonds, which also ended the year with exceptionally strong returns.

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