Equities posted a strong week as earning announcements began to roll in. International equities outperformed U.S. equities, but all major indices were in the green.
Week-in-Review: Week ending in 10.08.21
Equities were able to claw back some of the losses from the previous weeks, but Small Caps and Japanese equities still fell further.
Week-in-Review: Week ending in 10.01.21
Equities had their worst day since March of 2020 on Tuesday and losses continued until Friday. Domestic equities rose on Friday, but international equities fell further.
Back to school: It is time for a retirement re-education?
School is back in session, and kids are back in the classroom, but they shouldn’t be the only ones getting an education right now.
Week-in-Review: Week ending in 09.03.21
The Bottom Line
● Domestic equities posted another week of gains but lost some momentum after a disappointing payroll release. European equities faltered on political news out of Germany, while Japanese equities rallied around their own political news.
● Treasury yields fell on the shorter-end with the 2-Year falling -1bps, but the longer-end rose slightly with the 10-Year gaining +1bps.
● Economic news for the week painted a blurry picture with the housing market showing signs of cooling, solid manufacturing that is being stifled by labor and parts shortages, and a gigantic miss on payroll numbers.
Is Growth Slowing?
For most of the week, equity markets were able to grind higher, but started to lose their footing after payroll numbers posted a massive disappointment. Despite this falter, domestic equities were all in the green with the S&P up+0.58%, the Nasdaq up +1.55%, and the Russell posting a gain of +0.65% for the week. European equities couldn’t hold onto their gain and fell -0.09% for the week after political turmoil emerged in Germany. Japanese equities rallied after Yoshihide Suga announced he is stepping down from leadership, but his party will remain in control. The Nikkei was up a whopping +5.38% for the week, most of which was achieved on Friday. Economic releases painted a mixed picture going into the long holiday weekend, with manufacturing showing strong output, but constrained from labor and supply chain shortages, housing markets cooled for the second month in a row, and wages grew but didn’t take employment with it. Market participants will be keeping a close eye on growth metrics and will be paying especially close attention to labor markets looking for any signs of trending weakness that could derail the Fed’s targeted plan to start tapering asset purchases at the end of this year.
Digits & Did You Knows
BRAND NEW HOMES — The median sales price of a new home sold in the USA in June 2021 was $390,500, a record high both on a nominal basis and on an inflation-adjusted basis. The old nominal record was $374,400 in April 2021. The old inflation-adjusted record was $345,800 in May 2017, equal to $383,898 in today’s dollars. (source: Census Bureau, BTN Research).
RED TAPE — Congress approved $46.55 billion in rental aid via 2 bills in 12/2020 and 3/2021. As of 08/25/2021, just $5.1 billion has been disbursed to renters or 11% of the total. (source: Emergency Rental Assistance Program, BTN Research).
THE FIRST ONE — The CDC has changed the date of the first US Covid-19 death from 02/06/2020 to as early as 01/11/2020. The CDC now believes 6 Covid-related deaths occurred before 02/06/2020. (source: CDC, BTN Research).
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Source: Bloomberg. Asset‐class performance is presented by using market returns from an exchange‐traded fund (ETF) proxy that best represents its respective broad asset class. Returns shown are net of fund fees for and do not necessarily represent performance of specific mutual funds and/or exchange‐traded funds recommended by the Prime Capital Investment Advisors. The performance of those funds may be substantially different than the performance of the broad asset classes and to proxy ETFs represented here. U.S. Bonds (iShares Core U.S. Aggregate Bond ETF); High‐YieldBond(iShares iBoxx $ High Yield Corporate Bond ETF); Intl Bonds (SPDR® Bloomberg Barclays International Corporate Bond ETF); Large Growth (iShares Russell 1000 Growth ETF); Large Value (iShares Russell 1000 ValueETF);MidGrowth(iSharesRussell Mid‐CapGrowthETF);MidValue (iSharesRussell Mid‐Cap Value ETF); Small Growth (iShares Russell 2000 Growth ETF); Small Value (iShares Russell 2000 Value ETF); Intl Equity (iShares MSCI EAFE ETF); Emg Markets (iShares MSCI Emerging Markets ETF); and Real Estate (iShares U.S. Real Estate ETF). The return displayed as “Allocation” is a weighted average of the ETF proxies shown as represented by: 30% U.S. Bonds, 5% International Bonds, 5% High Yield Bonds, 10% Large Growth, 10% Large Value, 4% Mid Growth, 4%Mid Value, 2% Small Growth, 2% Small Value, 18% International Stock, 7% Emerging Markets, 3% Real Estate.
Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).
© 2021 Prime Capital Investment Advisors, 6201 College Blvd., 7th Floor, Overland Park, KS 66211.
Week-in-Review: Week ending in 08.27.21
The Bottom Line
● The S&P and Nasdaq rose to record levels after Fed Chairman Powell’s comments post Jackson Hole Symposium. Small Cap equities were the biggest winner for the week, gaining +5.05% as investors went risk on.
● Treasury yields were volatile leading up to Powell’s comments but settled after his dovish tone. The 2-year yield dropped -1 bps, but the 10-year yield climbed +5 bps higher for the week.
● Economic news for the week illustrated that supply constraints haven’t abated with orders of goods still outpacing shipments and inflation and delta variant spread is still weighing on consumers’ minds.
Powell Soothes Markets
Investors were able to breathe a sigh of relief after Fed Chairman Powell’s dovish comments on Fed policy moving forward. Markets were mainly concerned over the tapering of asset purchases leading directly into a rate hike. Powell quelled these fears by clearly stating that tapering did not mean hiking. Rejuvenated by this reassurance, traders resumed a risk on mode sending the S&P and Nasdaq to record highs, the S&P ended the week up +1.52% and the Nasdaq was up +2.82%. The S&P is now at a healthy +20.06%return for 2021 thus far and the Nasdaq isn’t far behind at + 17.39% YTD. Small Cap equities were the dominant index for the week, up a whopping +5.05% for the week and + 15.31% YTD. Powell’s comments were heard far and wide with international indexes rising as well. The STOXX Europe 600 gained +0.76% for the week and is now up +18.37% for the year. Troubled Japanese equities were able to catch a bid and returned to positive territory for the year, up +2.32% for the week and now up +0.72% YTD. Yields were ripe with speculation over the Fed’s policy and its effect on the economic recovery, but ultimately, the short end of the curve fell -1 bps and the 10-year yield rose +5 bps.
Digits & Did You Knows
MONTHLY BENEFIT — 54 million Americans receive monthly Social Security retirement benefits, including retired workers, dependents of retired workers, and survivors of deceased workers. 42 million Americans receive monthly assistance from the Supplemental Nutrition Assistance Program (SNAP), aka “food stamps”. (source: SNAP, BTN Research).
AFGHANISTAN — The United States spent $2.26 trillion during its 20-year presence in Afghanistan in fighting the Taliban, rebuilding the Afghan government, and training the Afghan military. (source: Brown University, BTN Research).
SKIP THE PUMP — There are 43,600 electric vehicle (EV) charging stations in the USA. The $1.2 trillion infrastructure bill passed by the Senate allocates $7.5 billion for additional charging stations.(source: DOE, BTN Research).
Click here to see the full review.
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Source: Bloomberg. Asset‐class performance is presented by using market returns from an exchange‐traded fund (ETF) proxy that best represents its respective broad asset class. Returns shown are net of fund fees for and do not necessarily represent performance of specific mutual funds and/or exchange‐traded funds recommended by the Prime Capital Investment Advisors. The performance of those funds may be substantially different than the performance of the broad asset classes and to proxy ETFs represented here. U.S. Bonds (iShares Core U.S. Aggregate Bond ETF); High‐YieldBond(iShares iBoxx $ High Yield Corporate Bond ETF); Intl Bonds (SPDR® Bloomberg Barclays International Corporate Bond ETF); Large Growth (iShares Russell 1000 Growth ETF); Large Value (iShares Russell 1000 ValueETF);MidGrowth(iSharesRussell Mid‐CapGrowthETF);MidValue (iSharesRussell Mid‐Cap Value ETF); Small Growth (iShares Russell 2000 Growth ETF); Small Value (iShares Russell 2000 Value ETF); Intl Equity (iShares MSCI EAFE ETF); Emg Markets (iShares MSCI Emerging Markets ETF); and Real Estate (iShares U.S. Real Estate ETF). The return displayed as “Allocation” is a weighted average of the ETF proxies shown as represented by: 30% U.S. Bonds, 5% International Bonds, 5% High Yield Bonds, 10% Large Growth, 10% Large Value, 4% Mid Growth, 4%Mid Value, 2% Small Growth, 2% Small Value, 18% International Stock, 7% Emerging Markets, 3% Real Estate.
Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).
© 2021 Prime Capital Investment Advisors, 6201 College Blvd., 7th Floor, Overland Park, KS 66211.
The Three Alternative Investments You Should Research Right Now
There is a current euphoria taking place in the public markets, but if you look forward it seems as though we are borrowing from future returns. Many financial institutions and analysts are projecting lower returns for both U.S. equities and U.S. bonds moving forward, and more broadly across major asset classes. Higher inflation levels are expected in the future as well, and with those higher levels, it’s going to be difficult to find places in the public markets that provide a good return without losing purchasing power.
This is why, for the right investor, alternative investments can really add value to a portfolio today. We look at incorporating alternatives into a person’s portfolio to enhance diversification and improve the risk-reward profile. Said differently, for the same level of risk, alternative investments help us to create portfolios that have a better expected return. But just like most things in life, not all alternative investments are created equally. We like the core, foundational alternatives: private equity, private real estate and private credit. Let’s explore each a little further.
Private Equity
There is tremendous opportunity in private equity. 80 percent of the companies in the United States with sales greater than $100 million are private companies. Now compare that to the shrinking opportunity set in public markets. In the 1990s, there were about 8,000 publicly listed companies in the U.S. but that number is now just under 4,000, meaning the opportunities there have decreased dramatically.
You’ll also see the opportunity in private equity if you look at the overall market cap. The average size of private companies is smaller than public companies, meaning they have more room to grow. And if they have more room to grow, that’s a growth opportunity for the investor.
When you’re looking for returns that are larger than what public markets have offered, private equity offers a huge opportunity partly because of the liquidity premium. Simply put, if you’re going to put your money in something that is difficult to get it out of, you can expect greater returns for that inconvenience.
Now is a great time to explore an investment in private equity because there’s been an amazing evolution in the vehicles and structures that investors now have at their disposal. It used to be that your only option for investing in private equity meant your capital would be locked up for 7-8 years before you’d see a return of your capital. These days, many new investments provide quarterly liquidity opportunities, which provides far greater flexibility for investors.
Private Real Estate
Real estate is a major contributing factor to consumer net worth, which makes these hard assets a great wealth accumulation vehicle. As I look at the current environment, investments in private real estate make even more sense because they serve as a natural inflationary hedge. As interest rates go up, lease rates go up. Landlords are able to pass along rising rates, instead of suffering from them.
Many private real estate investments are also very tax efficient, between the usage of depreciation, taxed deferred growth, and even 1031 exchanges that can allow investors to roll gains from one property or offering forward to another without having to recognize the capital gain at the time of the transaction
Finally, real estate doesn’t necessarily need to be confined to one particular sector. Many people think of retail stores, office buildings, or apartments when they think of this asset class, but other segments such as data centers, industrial warehouses, and even cell phone towers also provide access to secular growth trends in the economy.
Private Credit
For investors who need income ,where can they get it in this current low interest rate environment?
With private credit, you’re also able to extend to other areas of fixed income that you can’t touch in the public markets. For example, collateralized loan obligations or CLOs offer shorter duration fixed income exposure for your portfolio, which helps to limit interest rate risk. If you can get your money returned to you quicker, you face less risk from inflation lessening your purchasing power. Private lending can also offer higher rates of income for the same level of credit risk, again due to the illiquidity premium that is typically associated with these types of products.
Implementation
As we have noted, alternative investments can provide a significant diversification benefit as well as inflationary protection for an investor’s portfolio. But they also help instill better investor behavior. This was evident in March 2020 when the market crashed at the start of the pandemic. Alternative investments are often harder to pull one’s money out of in a hurry, so instead of panic selling, investors stay in and reap the benefits of the recovery.
Today’s environment calls for outside-the-box thinking for investors hoping to achieve healthy returns while maintaining a reasonable level of risk. There is by no means a perfect solution for everyone, and there could be some additional requirements necessary to participate in these types of investments so they must be used carefully, only as a satellite option to complement, rather than replace, a traditional investment portfolio. Because reporting requirements are not as stringent as those for publicly traded securities, a thorough due-diligence process is an absolute necessity before investing, and on an ongoing basis for monitoring purposes. This is where having a research team on your side can be incredibly helpful. If you have questions about alternative investments and how they can best be incorporated into your portfolio, don’t hesitate to reach out to us here at Prime Capital Investment Advisors.
Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., 7th Floor, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”
Week-in-Review: Week ending in 08.20.21
The Bottom Line
● Markets threw a mini tantrum this week as speculation over tapering to the Fed’s asset purchase programs abounded. All major US and International indices finished the week in the red, Emerging Market equities took the brunt of the sell-off.
● The 2-year yield rose 2bps for the week, but the 10-year yield fell -2bps as investors searched for risk havens.
● Economic news painted a mixed picture this week, with supply chain constraints and labor shortages causing housing starts to hit a three-month low, but initial jobless claims declined for a fourth week in a row.
Are Markets Throwing A Tantrum?
Speculation surrounding the tapering of the Fed’s asset purchase programs led investors to go risk off this week and fears over the spread of the delta variant and its potential economic impact gave this move some legs, although some of the harder hit regions have reported a slow-down in hospitalizations. Markets were on pace for almost an entirely red week but were given some reprieve when the President of the Dallas Fed said his views on tapering may change, he has been in favor of starting to taper sooner rather than later. The S&P faired the best over the week, but still lost -0.59%, followed by the Nasdaq which lost -0.73% for the week. Small Caps, as measured by the Russell 2000, were down every day of the week until Friday, but Friday wasn’t near enough to bring them back to positive territory with the index tumbling -2.50% for the week. International markets were not immune to the sell-off with Japanese equities losing -3.45% for the week, now down -1.57% YTD. European equities cooled their summer rally, down -1.48% for the week, its worst week since February. China’s government continued to reign in Big Tech with more regulation, which coupled with a rising US dollar brought the Emerging Markets index down -4.31% for the week.
Digits & Did You Knows
MOVE HERE — 44 US Cities are currently offering cash incentives to attract workers to move to their cities, including, Augusta, ME ($15,660), Stillwater, OK ($7,500), and French Lick, IN ($5,000).(source: MakeMyMove.com, BTN Research).
MOST SUSCEPTIBLE — As of 08/11/21, 79% of America Covid-19 deaths occurred to individuals at least age 65, while less than 2% of the victims were under the age of 40. (source: CDC, BTN Research).
WILL IT BE AVERAGE? — The avg. change that American homeowners are anticipating in the value of their primary residence over the upcoming 12-months is a gain of +5.1%, more than the actual gain of +4.1% per year that has been achieved over the last 20-years through 4/30/21. (source: July 2021 Survey of Consumer Expectations Housing Survey, Federal Housing Finance Agency, BTN Research).
Click here to see the full review.
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Source: Bloomberg. Asset‐class performance is presented by using market returns from an exchange‐traded fund (ETF) proxy that best represents its respective broad asset class. Returns shown are net of fund fees for and do not necessarily represent performance of specific mutual funds and/or exchange‐traded funds recommended by the Prime Capital Investment Advisors. The performance of those funds may be substantially different than the performance of the broad asset classes and to proxy ETFs represented here. U.S. Bonds (iShares Core U.S. Aggregate Bond ETF); High‐YieldBond(iShares iBoxx $ High Yield Corporate Bond ETF); Intl Bonds (SPDR® Bloomberg Barclays International Corporate Bond ETF); Large Growth (iShares Russell 1000 Growth ETF); Large Value (iShares Russell 1000 ValueETF);MidGrowth(iSharesRussell Mid‐CapGrowthETF);MidValue (iSharesRussell Mid‐Cap Value ETF); Small Growth (iShares Russell 2000 Growth ETF); Small Value (iShares Russell 2000 Value ETF); Intl Equity (iShares MSCI EAFE ETF); Emg Markets (iShares MSCI Emerging Markets ETF); and Real Estate (iShares U.S. Real Estate ETF). The return displayed as “Allocation” is a weighted average of the ETF proxies shown as represented by: 30% U.S. Bonds, 5% International Bonds, 5% High Yield Bonds, 10% Large Growth, 10% Large Value, 4% Mid Growth, 4%Mid Value, 2% Small Growth, 2% Small Value, 18% International Stock, 7% Emerging Markets, 3% Real Estate.
Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).
© 2021 Prime Capital Investment Advisors, 6201 College Blvd., 7th Floor, Overland Park, KS 66211.
Week-in-Review: Week ending in 08.13.21
The Bottom Line
● U.S. Consumer Sentiment fell to its lowest level in 11 years, dragging the NASDAQ and Russell into a negative week. The S&P and Foreign equities were able to post a positive week.
● The 10-Year and 2-year yield ebbed and flowed this week before finally settling down -2bps and flat, respectively.
● Economic news was light, but impactful, for the week with CPI numbers showing some moderation, but the PPI numbers still show signs of hot inflation. JOLTS numbers exceeded expectations, demonstrating the troubling labor markets.
Halloween in August
Friday the 13th did not spook the S&P for the week with the index up +0.71% for the week. Foreign equities posted solid gains as well with the STOXX Europe 600 up +1.25% and the Nikkei up +0.56% for the week. European equities were bolstered by French stocks, which are close to attaining a level not seen in 21 years. Small Caps and the tech heavy Nasdaq were frightened into negative territory for the week losing -1.10% and -0.09% respectively. Markets were relieved on Wednesday with CPI numbers meeting expectations, instead of surpassing them. This added ammo to the Fed’s narrative that fast-rising inflation is transitory and will begin to moderate once labor and supply chain issues resolve. However, consumers are fearing the threat of more persistent inflation with the U. of Michigan’s Consumer Sentiment survey showing deteriorating views on future economic growth, future conditions fell by -13.8 index points and current conditions only fell by -6.6 index points. The spread of the delta variant is also weighing on consumer optimism with the fear of mask mandates returning and possible future lockdowns. Corporate earnings have been accompanied with warnings that the spreading delta variant could impact bottom lines.
Digits & Did You Knows
HOME BUILDING — 563,400 single family homes began construction during the first half of 2021, the largest “January-to-June” total in the US Since the first half of 2007 or 14 years earlier.(source: Census Bureau, BTN Research).
THEY MAY NEVER STOP — The Federal Reserve has been buying$120 billion of federal debt per month since mid-March 2020, resulting in our nation’s central bank buying 76% of all the federal debt that has been issued during the pandemic. (source Federal Reserve, BTN Research).
NEED HELP — 43% of Americans under age 35 receive financial help from their parents or other family members when they purchase a home, e.g., money used for a down payment. (source: Legal & General, BTN Research
Click here to see the full review.
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Source: Bloomberg. Asset‐class performance is presented by using market returns from an exchange‐traded fund (ETF) proxy that best represents its respective broad asset class. Returns shown are net of fund fees for and do not necessarily represent performance of specific mutual funds and/or exchange‐traded funds recommended by the Prime Capital Investment Advisors. The performance of those funds may be substantially different than the performance of the broad asset classes and to proxy ETFs represented here. U.S. Bonds (iShares Core U.S. Aggregate Bond ETF); High‐YieldBond(iShares iBoxx $ High Yield Corporate Bond ETF); Intl Bonds (SPDR® Bloomberg Barclays International Corporate Bond ETF); Large Growth (iShares Russell 1000 Growth ETF); Large Value (iShares Russell 1000 ValueETF);MidGrowth(iSharesRussell Mid‐CapGrowthETF);MidValue (iSharesRussell Mid‐Cap Value ETF); Small Growth (iShares Russell 2000 Growth ETF); Small Value (iShares Russell 2000 Value ETF); Intl Equity (iShares MSCI EAFE ETF); Emg Markets (iShares MSCI Emerging Markets ETF); and Real Estate (iShares U.S. Real Estate ETF). The return displayed as “Allocation” is a weighted average of the ETF proxies shown as represented by: 30% U.S. Bonds, 5% International Bonds, 5% High Yield Bonds, 10% Large Growth, 10% Large Value, 4% Mid Growth, 4%Mid Value, 2% Small Growth, 2% Small Value, 18% International Stock, 7% Emerging Markets, 3% Real Estate.
Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).
© 2021 Prime Capital Investment Advisors, 6201 College Blvd., 7th Floor, Overland Park, KS 66211
Week-in-Review: Week ending in 08.06.21
The Bottom Line
● Equities returned to their winning ways after last week’s fall. All major global equity indices posted gains for the week, are now positive for the year–most with double‐digit advances, and are at or near all‐time highs.
● The yield on the U.S. 10‐year Treasury rebounded from its lowest levels since February, to end the week at 1.30%after strong economic data showed the recovery continuing despite the spread of the Delta variant.
● AccordingtoFactSet,withabout90% of S&P500 companies having reported Q2 results, earnings growth is running at a blistering +88.7% pace with a 87% beat rate.
August brings a return to record highs
Global equities posted weekly gains, turning our market snapshot to the right entirely green for the week, and now for the year. The S&P 500 closed the week at another record high, its 44th record closing of 2021, for a +0.9% gain for the week. But Small Cap Value stocks were the best asset class for the week with a +1.1% gain, despite a ‐1.9% drubbing on Wednesday. A better‐than expected July employment report and another week of strong corporate earnings helped investors overcome concerns about rising inflation, the fast‐spreading Delta variant, and a regulatory crackdown on Chinese technology stocks. Earlier in the week data showed better‐than‐expected Factory Orders and an acceleration in the ISM Services Index to a record high. But it was the labor market that really bolstered stocks later in the week with fewer‐than‐expected unemployment claims on Thursday, followed by a stellar July employment report on Friday with upside surprises in new payrolls, a lower unemployment rate, better labor participation rates, as well as higher wages and hours worked. After several weeks of yields falling, the bounty of encouraging economic data helped Treasury yields reverse higher and the Treasury curve steepen.
Digits & Did You Knows
(NOT SO) FRIENDLY SKIES — The Federal Aviation Administration has received 3,715 reports about unruly passengers in 2021 and has initiated 628 investigations, compared with fewer than 150 in 2019. It is now asking airports and law enforcement to help mitigate the poor behavior (source: Federal Aviation Administration, WSJ).
DEBT LIMIT DEBATE — The nation’s debt ceiling limit was reset on Sunday 8/01/21 to our government’s outstanding debt as of that date (approximately $28.5 trillion). Ultimately the government will “run out of cash,” mostly likely in October or November, unless the debt ceiling is raised again (source: CBO, BTN Research).
Click here to see the full review.
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Source: Bloomberg. Asset‐class performance is presented by using market returns from an exchange‐traded fund (ETF) proxy that best represents its respective broad asset class. Returns shown are net of fund fees for and do not necessarily represent performance of specific mutual funds and/or exchange‐traded funds recommended by the Prime Capital Investment Advisors. The performance of those funds may be substantially different than the performance of the broad asset classes and to proxy ETFs represented here. U.S. Bonds (iShares Core U.S. Aggregate Bond ETF); High‐YieldBond(iShares iBoxx $ High Yield Corporate Bond ETF); Intl Bonds (SPDR® Bloomberg Barclays International Corporate Bond ETF); Large Growth (iShares Russell 1000 Growth ETF); Large Value (iShares Russell 1000 ValueETF);MidGrowth(iSharesRussell Mid‐CapGrowthETF);MidValue (iSharesRussell Mid‐Cap Value ETF); Small Growth (iShares Russell 2000 Growth ETF); Small Value (iShares Russell 2000 Value ETF); Intl Equity (iShares MSCI EAFE ETF); Emg Markets (iShares MSCI Emerging Markets ETF); and Real Estate (iShares U.S. Real Estate ETF). The return displayed as “Allocation” is a weighted average of the ETF proxies shown as represented by: 30% U.S. Bonds, 5% International Bonds, 5% High Yield Bonds, 10% Large Growth, 10% Large Value, 4% Mid Growth, 4%Mid Value, 2% Small Growth, 2% Small Value, 18% International Stock, 7% Emerging Markets, 3% Real Estate.
Advisory services offered through Prime Capital Investment Advisors, LLC. (“PCIA”), a Registered Investment Adviser. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”).
© 2021 Prime Capital Investment Advisors, 6201 College Blvd., 7th Floor, Overland Park, KS 66211.