The Armstrong Report: Summer 2023 Firm Update
Reginald A.T. Armstrong • The Armstrong Report
Half-time! It’s hard to believe half of 2023 is now behind us. In this quarter’s newsletter, please pay particular attention to the ‘The Firm’ paragraph, as there are a few announcements.
I still maintain that the likelihood of a recession still outweighs not having one. The recent strength of the S&P 500, however, argues otherwise.
Global stocks have risen sharply in Europe, Japan, and the US. In the US, technology stocks, in particular, have erased much of last year’s damage. However, the rally is stretched and has been dominated by mostly a few names. Expect volatility.
As our firm continues to evolve, we have taken several steps to improve operations to serve you even better:
We’re forming a deeper partnership with LPL Financial. This new phase will bring expanded talent and resources. For example, we recently updated our technological hardware and gained access to more cutting-edge software.
The regulatory requirements of our industry take an increasingly greater amount of time. By offshoring this and other areas to LPL Financial, we get to focus more on clients and the smooth running of the practice.
We will be formally part of the LPL Financial family, but our roles and responsibilities will not change. There really will only be two noticeable differences:
Your statements will now say Armstrong/Carter/Ridenhour instead of just Armstrong. This properly reflects the team character of our practice.
Our email addresses will change from “@lpl.com” to “@lplfinancial.com.” While you’ll need to update our emails in your contact list, our old email addresses will continue to work for a full year. See page three of the newsletter for each of our new email addresses.
Some internal fees will go away. Some accounts, for example, have a $40 annual IRA fee. Under our new agreement with LPL Financial, this goes away.
Everything else remains the same—same name, location, phone number, access to investments and platforms, still independent.
One more thing—be sure to read the article on Lee on the next page; however, one thing it doesn’t mention is the birth of his second son, Maverick, back in April.
All of us at Armstrong Wealth appreciate your trust. We look forward to continuing to earn it every day. Have a blessed summer.