Firm Commentary

Welcome to Wetherby Asset Management’s Online Newsletter Library. Our newsletters and commentary offer insight into timely news and events that shape our financial world. Please read important disclosures by clicking here.

Q3/19 Newsletter

Investment Overview:

We believe the synchronized positive performance of fixed income and equity markets during the first three quarters reflects increasingly divergent interpretations of current macroeconomic data, as well as divergent expectations about issues such as the impact of Fed policy and the outcome of tariff negotiations. We remain committed to our investment approach, which emphasizes long-term thinking and diversification. But we also believe that continued economic uncertainty and slowing economic and financial growth, over the medium term, warrant a prudent transition toward more conservative portfolio allocations. And although we continue to wade through unprecedented economic waters, we strive to maintain a high level of analytical rigor in understanding the past and applying judgement to form views about the future. As the saying goes, “history doesn’t repeat itself, but it does rhyme.”

Impact Update:

Our Diversity, Equity & Inclusion (DEI) Committee is continuing its work to cultivate an inclusive environment and culture. We commemorated the Obon festival – an event to celebrate, respect and remember family ancestors in Japan – in August; and we served mooncakes in September to celebrate the Mid-Autumn Festival, a harvest festival celebrated primarily in China and Vietnam. We are proud to announce that Wetherby is now an Innovator Green Business, the first in the financial services industry in San Francisco and California. In September, eight of our team members volunteered at the 11-bedroom Ronald McDonald House inside UCSF Benioff Children’s Hospital at Mission Bay in San Francisco. Ronald McDonald House provides a safe, temporary home and supportive communities for the families of critically ill children to rest, heal and thrive together.

Financial Planning:

One of the fundamental building blocks of financial and estate planning is the titling of assets. The way you title property determines the property rights in that asset, and ultimately, how assets are distributed at death. Our financial planning article presents the options available and illustrates how titling impacts asset distribution.

Read the newsletter ›

Q3/19 Impact Investing Digest

Wetherby is pleased to share our Impact Investing Digest for the third quarter of 2019. This quarter’s digest again features several articles and research pieces that highlight the financial risks and economic costs presented by climate change. In addition, this edition highlights the shift of some of America’s largest corporations toward incorporating broader stakeholder value as well as environmental and community stewardship into their business models. Please feel free to reach out to your Wetherby team if you have any questions or are interested in learning more.

Read the newsletter ›

2019 Shareholder Resolution Sponsorship Report

Publicly traded companies continue to face an engaged investor community – motivated by environmental, social and governance (ESG) issues – that is asking for change.

We are proud to report that during the 2019 annual meeting season, 37 Wetherby clients signed authorizations to file and co-file 62 shareholder resolutions with 50 companies. We invite you to review the topics, resolutions and company highlights in our report.

If you have any questions or are interested in getting involved as a client, please reach out to your Wetherby team.

Read the newsletter ›

Q2/19 Impact Investing Digest

Wetherby is pleased to share our Impact Investing Digest for the second quarter of 2019. This quarter’s digest includes several articles that outline the economic costs and financial risks and opportunities presented by climate change. In addition, this edition features several reports and surveys that highlight trends in investor sentiment and the diverse range of investors pursuing impact investing. Please feel free to reach out to your Wetherby team if you have any questions or are interested in learning more.

Read the newsletter ›

Q2/19 Newsletter

Investment Overview:

With the U.S. likely to re-enter a phase of quantitative easing, and other major global banks, such as the European Central Bank, also likely to cut rates, we may be extending this late-cycle environment and staving off a global recession for now. It is likely that the Fed cutting rates will be well received by markets in the near term. Nevertheless, we are in the late stages of this economic cycle. Therefore, we do not believe that investors are being adequately compensated for taking above average levels of risk in their portfolios, and we are maintaining allocations that are relatively neutral to long-term asset allocation targets.

Impact Update:

In the second quarter, we released our second Annual Impact Report which summarizes the achievements of our clients, our team and our community in 2018. Members of the Wetherby team spent an afternoon in May volunteering at GLIDE Memorial Church in the Tenderloin neighborhood of San Francisco.

Financial Planning:

The financial planning section topic is “Estate Planning in a Brave New World.” This article focuses on the provisions of the Tax Cuts and Jobs Act of 2017, as well as the opportunities and considerations that individuals now confront in light of the resulting tax environment and uncertain future.

Read the newsletter ›

Sign Up for our Newsletter