We provide independent wealth management, personal financial planning and tax services to help individuals and families succeed. Independent Wealth Management, Personal Financial Planning & Tax
Art Locke, CPA/PFS, CFP is the founder of Locke Advisory Services LLC, a registered investment advisor in Virginia (www.lockeadvisoryservices.com).
Locke Advisory Services provides independent wealth management, personal financial planning and tax services. As an independent advisor, the firm is dedicated to helping individuals and families make sound financial decisions, plan for their future and implement appropriate investment strategies. We serve our clients by providing thoughtful and diligent management of wealth, financial planning, individual tax and business services. Our first priority is to listen and learn about your dreams and goals, and where you want your life’s journey to go. Our ultimate goal is to help you succeed. Mr. Locke received his Certified Public Accountant ("CPA") certification in May 1988. He is a credentialed Personal Financial Specialist ("PFS") through the Association of International Certified Public Accountants ("AICPA") and passed the Series 65 Uniform Investment Advisor Law Examination. The PFS credential is administered by the AICPA and is only available to CPAs. He also passed the CFP Board's CFP® Certification Examination and became a Certified Financial Planner ("CFP") in December 2019. From September 2011 through December 2016, Mr. Locke was a private investor performing fundamental and technical research, investing in a wide range of publicly trade equities, mutual funds and real estate. Prior to that, he served in an executive capacity for 5 publicly-traded companies, including Chief Financial Officer of 3. In 2006, he was a top 5 finalist for the 2006 Greater Washington Technology Council Public Company CFO of the Year. The core value of our Firm is our commitment to work in the best interests of the clients we serve. Trust, Independence, Integrity, Competence, Experience. We are dedicated to building trusted, objective and long-term relationships with our clients. We do this by providing independent, personalized, knowledgeable, and comprehensive advice with the highest degree of integrity and customer service. As an independent, fee-only advisor, the Firm does not receive commissions, bonuses or fees related to the purchase or sale of securities, insurance or other products recommended to and purchased by our clients. If you, your family, friends, clients or colleagues are looking for investment management, personal financial planning or individual tax, please contact us at [email protected] and visit www.lockeadvisoryservices.com for additional information. Be sure to follow us for interesting articles, information, commentary and updates.
Operating as usual
GameStop Rise & Fall: Extreme volatility with little fundamental change in its underlying business.
GameStop, Reddit, and Market Mania: What You Need to Know Here's what you need to know about recent market volatility triggered by
Hope you enjoy this month's market summary!
Market Month: January 2021 Stocks were mixed in January following the month's tumultuous events.
[01/05/21] Hey folks - With 21 million confirmed cases of COVID in the US, we have a huge number of people who have recovered from COVID walking around with convalescent plasma that could be vital to people fighting for their lives against COVID. If you have had COVID or know anyone who has had COVID, please donate plasma. My friend, former colleague and client, Fred Avila, has been fighting for his life for the last few days. Doctors struggled to find convalescent plasma. Fred is at Hoag hospital in Newport Beach, CA. If you are in Newport Beach and fit the bill, please donate. Where ever you are and if you have recovered from COVID, you could give someone the gift of life. Please help today.
Breaking News: Cyber security firm, FireEye (ticker FEYE), today announced that it had been hacked, possibly by a government, leading to the theft of an arsenal of internal hacking tools typically reserved to privately test cyber defenses of their own clients. The hack of FireEye, a firm with business contracts across the national security space in the US and globally, is among the most significant breaches in recent memory. FireEye was down nearly 7% in after market trading.
This reminds us once again of the importance to be vigilant about our own cyber security. Beware!
According to a report by S3 Partners, short sellers of Tesla have lost more money this year than the US airline industry. $35 billion vs. $24.2 billion. No wonder Elon is smiling.
edition.cnn.com The incredible year for Tesla stock has created a bloodbath for those shorting its shares.
Locke Advisory Services LLC's cover photo
Locke Advisory Services LLC's cover photo
Locke Advisory Services LLC
Is it time to work with a financial professional?
lockeadvisoryservices.com Here are six reasons to work with a financial professional no matter what life stage you’re in.
For those looking to put kids through college in the next few years, it's great to see the inflationary cost of college cooling down a bit.
broadridgeadvisor.com Find out how much college costs increased for the 2020-2021 school year.
Top Mistakes Millionaire Investors Regret Making
The deVere Group, a Zurich-based financial advisory firm, queried millionaires on the biggest investing errors they made before they became clients. The survey included 752 investors with investable assets of more than $1 million in the United Kingdom, Europe, Asia, Africa, the Middle East, Australasia, Latin America and North America.
More than a third (35%) of investors cited not having sought advice, 38% said they leaned too heavily on historical returns and 21% cited a lack of diversification. The survey said a collection of other mistakes and ‘do not knows’ made up the remaining 6%.
CEO and Founder Nigel Green said "It is encouraging that seeking advice is deemed fundamental to success by millionaires, as it shows that DIY investing and not having a regularly reviewed plan is, typically, a path full of costly pitfalls".
fa-mag.com A survey found that wealthy investors lament relying on guidance from historical returns.
Hope you enjoy this quarter's market review! There will be plenty of political noise from both sides between now and the elections which will probably cause the markets to be volatile. The market has historically performed well during both Republican and Democrat presidencies. Try not to get caught up in short-term volatility and be sure to have an investment strategy based on short & long-term time horizons suitable for your life goals, career and retirement plans.
broadridgeadvisor.com See what the markets did in Q3 2020 in our latest market video.
While the economy continues to heal, the stock market is riding to all time highs. Caution ahead. Enjoy the August Market Month!
broadridgeadvisor.com Stock market indexes reach record highs in August on hopes of a virus vaccine.
broadridgeadvisor.com Women attained more educational degrees than men at every level during the 2019-2020 academic year.
Scammers are more clever and enticing than ever. It's important to be vigilant anytime but now more than ever. Be alert, don't be fooled!
broadridgeadvisor.com Protect yourself from scammers at tax time by following these IRS tips.
Please enjoy the July Market Month! Please don't hesitate to reach out if I can assist.
broadridgeadvisor.com Stocks posted July gains despite gloomy economic news.
Enjoy the May market month. Please let me know if I can assist!
broadridgeadvisor.com Investors, buoyed by the gradual opening of the economy, turned to stocks, driving values higher in May.
[05/14/20] The use of electronic currency has been rising rapidly over the last few years (Venmo, PayPal, Zelle, etc.). COVID-19 could be the final death knell of physical currency. Does anyone really want to exchange bills, coins and checks anymore in the COVID-19 era and aftermath? Could governments around the world save billions by downsizing currency printing and stamping? #currency #trading #markets #investing
Please enjoy the Market Month for April!
broadridgeadvisor.com Stocks rebounded despite somber economic news.
The CARES Act provides substantial resources for individuals and small businesses. Here are a few small business resources to check out:
US Chamber Small Business Guide
Paycheck Protection Program Loan Application
US Department of Treasury Coronavirus Assistance
[03/22/20] An Emergency Fund is a great asset to have during these unprecedented times. If you don't have one as part of your financial planning, consider building one as soon as we recover from this crisis. It's not a matter of if you'll need it, its a matter of when, how much and the right type of asset. #financialplanning
[03/19/20] For the many fortunate folks out there who will continue to work through this crisis or who are fine financially, please spend any money received from the government at a local small business! Our local business community and employees need our help now so they will be there with us when all this passes in the next few weeks/months.
[03/17/20] The Coronavirus pandemic continues to cause historic uncertainty in nearly every aspect of our lives. Today, the American Red Cross announced a blood shortage as the Coronavirus crisis has led to massive blood donation cancellations. Please consider going online or calling the American Red Cross to make arrangements as soon as you feel comfortable venturing out. In the meantime, please stay healthy!
[03/12/20] During market downturns, many believe that "everyone" is "selling". In fact, for every transaction, many forget there is a buyer AND a seller, otherwise, a transaction would not occur. So even during these "sell-offs", there are an even number of buyers and sellers. So what is actually happening? When one investor sells when the market is down 25% and another investor buys when the market is down 25%, its the difference between selling low and buying low. This may sound simple and obvious, but many seem to think there are only "sellers" during a "sell-off". History shows and may likely continue to show, that those who are buying or holding during market downturns instead of selling, may very well be the winners over the long term. It's a good idea to stick to a sound, long-term investment strategy during market downturns. Let's hope calm and rationality prevail.
[02/25/20] So far, our clients are receiving refunds in about 7-10 days for federal and 2-3 weeks for Virginia. #taxrefund
Due Date Approaches for 2019 Federal Income Tax Returns
Tax filing season is here again. If you haven't done so already, you'll want to start pulling things together — that includes getting your hands on a copy of your 2018 tax return and gathering W-2s, 1099s, and deduction records. You'll need these records whether you're preparing your own return or paying someone else to prepare your tax return for you.
The filing deadline for individuals is generally Wednesday, April 15, 2020.
When I started Locke Advisory Services 3 years ago, I identified 2 critical areas that I believed would be vital for my firm’s growth and success. First, a relentless focus on my clients to serve their best interests and do whatever it takes for them to be delighted with my services. I view my client experience as an investment not only in our future relationship, but also in future clients that I hope will eventually be referred. Second, a relentless focus on technical proficiency in my space as a CPA/PFS and CFP®. The volume of information in investment management, financial planning, tax planning and tax preparation is wide, deep, complex and ever changing. Choosing an area of focus and maintaining technical proficiency is imperative for delivery of the highest possible level of client service.
I am pleased with business progress so far and excited about the future. From 2018 to 2019, my business nearly doubled and from Q1 2019 to Q1 2020, business has more than doubled. I am proud to say I haven’t lost a single client in 3 years and continue to grow my umbrella of services for existing clients and welcome new clients. I can’t express enough gratitude and appreciation for each and every one of my clients. Without them, I have no business and I remind myself of that every day.
Art Locke, CPA/PFS, CFP®
President & CEO
With the start of a new year, its a great time to think about your financial planning and retirement goals. Enjoy and please don't hesitate to reach out if I can help!
broadridgeadvisor.com What if you're saving as much as you can, but still feel that your retirement savings goal is out of reach? As with many of life's toughest challenges, it may help to focus less on the big picture and more on the details.
Please enjoy this 2019 Annual Market Review!
broadridgeadvisor.com Our annual market video recaps 2019 and looks at what might drive the markets in 2020.
Macy's reveals consumer personal data breach from Dec 7 through Dec 15. You should be vigilant in protecting your personal information and detecting potential misuse.
pcmag.com Hackers gained access to customer personal information and payment details for a week.
In addition to an identify theft protection service, here are a few ways to protect yourself against identify theft.
forefieldkt.com There are steps you can take to protect yourself against identity theft.
Should you sign up for an "Identify Theft Protection Service"? First, the name is a bit misleading. The services are really monitoring and recovery services as there's no one service that can safeguard all your personal information. However, an identify theft protection service may be a good option and many companies are starting to offer them as part of their benefits package.
Thinking about where your young adult should attend college? Given the strong academic reputation of some of the schools on this list, maybe beer and alcohol consumption should NOT be on the list of concerns over which college to choose?! Regardless, let's all drink responsibly! Please note that beer and alcohol are not included on the list of qualified education expenses. :)
fa-mag.com At many of these schools, students spend a lot of time drinking and living the "Greek Life."
An HSA could be a great way to mitigate health-care cost concerns during retirement.
forefieldkt.com Find out how a health savings account could help strengthen your retirement plan.
October Market Summary
forefieldkt.com Despite signs of slowing economic growth, stocks climbed higher in October.
Independent Wealth Management, Personal Financial Planning & Tax
Locke Advisory Services provides independent wealth management, personal financial planning and tax services. As an independent advisor, the firm is dedicated to helping individuals and families make sound financial decisions, plan for their future and implement appropriate investment strategies. We serve our clients by providing thoughtful and diligent management of wealth, financial planning, individual tax and business services. Our first priority is to listen and learn about your dreams and goals, and where you want your life’s journey to go. Our ultimate goal is to help you succeed.
The core value of our Firm is our commitment to work in the best interests of the clients we serve. Trust, Independence, Integrity, Competence, Experience. We are dedicated to building trusted, objective and long-term relationships with our clients. We do this by providing independent, personalized, knowledgeable, and comprehensive advice with the highest degree of integrity and customer service. As an independent, fee-only advisor, the Firm does not receive commissions, bonuses or fees related to the purchase or sale of securities, insurance or other products recommended to and purchased by our clients. If you, your family, friends, clients or colleagues are looking for investment management, personal financial planning or individual tax, please contact us at [email protected] and visit www.lockeadvisoryservices.com for additional information. Be sure to follow us for interesting articles, information, commentary and updates.
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