ThreePoint Private Client Group, LLC

Read the Park Avenue® Wealth Management October Monthly Market Commentary for our latest market analysis.

Highlight: Major asset class returns were broadly negative in September as interest rates surged.

https://guardianpublic.hartehanks.com/AssetDisplay?acc=11GI&itemCode=PAS018119

Read the Park Avenue® Wealth Management September Monthly Market Commentary for our latest market analysis.

Highlight: Stocks and bonds advanced in August despite elevated Treasury yields.

https://guardianpublic.hartehanks.com/AssetDisplay?acc=11GI&itemCode=PAS018129

To Pay A Fee, or Not To Pay A Fee?

Investors often ask whether working with a financial advisor is worth the cost.

It's a fair question. But the conversation shouldn't stop there.

At ThreePoint, we believe the real question isn't simply, "What does it cost?" It's "What value does a coordinated strategy bring to my overall financial plan?"

Many investors assume that managing investments on their own means investing for "free." In reality, most investment platforms, mutual funds, ETFs, and other investment products have costs associated with them, whether visible or embedded. Investment management is also just one component of a comprehensive financial strategy.

The value of working with a licensed advisor may extend beyond portfolio management and can include:

▶️Tax-loss harvesting opportunities
▶️Ongoing portfolio rebalancing
▶️Tax-efficient investment placement
▶️Risk management coordination
▶️Retirement income planning
▶️Estate and legacy planning

Research has found that tax-loss harvesting may create after-tax benefits for some investors. Vanguard research estimated annualized tax-loss harvesting alpha ranging from approximately 0.47% to 1.27% on the taxable equity portion of a portfolio under certain assumptions and conditions. Results vary based on factors such as portfolio composition, tax rates, investor behavior, and market environments.

Similarly, research published in the Financial Analysts Journal by Chaudhuri, Burnham, and Lo examined historical market data and found that tax-loss harvesting may create meaningful tax alpha when implemented consistently within a disciplined investment strategy.

At ThreePoint, we believe financial decisions should be coordinated rather than compartmentalized. Investment, tax, insurance, retirement, and estate planning strategies are often most effective when considered together as part of a broader financial plan.

When evaluating professional advice, investors should consider both the costs and the potential benefits of a coordinated planning approach based on their individual circumstances.

Because financial planning is about more than investment returns. It's about helping every part of your financial life work together.

Tax-loss harvesting and other planning strategies may not be appropriate for all investors. Results will vary. There is no guarantee that any investment or tax strategy will achieve its intended objective. Investors should consult with qualified tax and financial professionals regarding their specific circumstances.



Sources referenced:
🔹Vanguard Research (2024), Tax-Loss Harvesting: Why a Personalized Approach Is Important (Thomas Paradise, Kevin Khang, Joel Dickson).
🔹Chaudhuri, Burnham & Lo (2020), An Empirical Evaluation of Tax-Loss Harvesting Alpha, Financial Analysts Journal.

Clients often ask us: "What is the right age to start collecting Social Security?"

Luckily for them, our proprietary analysis tool helps compare several Social Security claiming scenarios. This helps us evaluate different claiming age combinations and provide projections that can help guide the conversation around your potential benefit outcomes.

If you are debating the right time to start collecting your Social Security, give us a call!

"I'm a fiduciary."

You've probably heard that phrase a lot lately. But what does it actually mean and should it matter to you?

Here's the thing most people don't realize: not every financial professional is held to the same standard. Some are legally required to put your interests first. Others just have to recommend something "suitable." Those are two very different bars.

A fiduciary — specifically, a Registered Investment Adviser Representative (IAR) — has a legal and ethical duty to act in your best interest. Not just when they make a recommendation, but for the entire relationship. That means:

⚪Advice that's actually built around your goals and risk tolerance, not a product they're pushing
⚪Full transparency about anything that could bias their recommendations
⚪An ongoing obligation to act with care and honesty, not a one-time box to check

If you're evaluating an advisor (or wondering about the one you have), ask them directly:

1️⃣Are you a Registered Investment Adviser Representative?
2️⃣Are you acting as my fiduciary all the time, or only in certain situations?
3️⃣How do you get paid?
4️⃣Do you have any conflicts of interest I should know about?

Don't just take their word for it, either. FINRA's BrokerCheck (brokercheck.finra.org) and the SEC's Investment Adviser Public Disclosure database (adviserinfo.sec.gov) let you look up an advisor's registration and background yourself.

At the end of the day, you deserve to know whether the person managing your money is legally required to put you first.

At ThreePoint Private Client Group, we think clients make better decisions when they understand exactly what standard their advisor is held to — it's the foundation of real trust.

Financial planning isn't just about money. It's about creating freedom, confidence, and options for the future. I was honored to share that message during my appearance on the series All Access with Andy Garcia.

I especially enjoyed discussing the importance of coordinated planning rather than fragmented planning. When every aspect of a financial strategy works together, people gain greater clarity, confidence, and peace of mind. Looking forward to sharing the conversation with the public.

I also really enjoyed watching Leo get his makeup done!

Read the Park Avenue® Wealth Management August Monthly Market Commentary for our latest market analysis. Highlight: Rising interest rates pressured global equity and fixed income returns in July.
https://www.google.com/url?q=https://guardianpublic.hartehanks.com/AssetDisplay?acc%3D11GI%26itemCode%3DPAS018119&source=gmail&ust=1785947939408000&usg=AOvVaw2K4JmBJ0hbGoPY_4tbHnTE

Legacy planning is about more than the numbers—it's about creating an intentional strategy.