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Lean on Me! Piedmont Wealth Advisory - Expanded Services Reminder

(Get your inner Bill Withers singing voice working....."we all need someone to lean on!")

To our valued clients, supporters and firm advocates,

As we collectively slog our way thru the current period of heightened uncertainty and anxiety connected with the overall health of our families as well as the health of our family finances – I want to remind our current Piedmont Wealth Advisory clients, supporters and advocates ( Friends of the Firm ) of services that we generously extend. We are in very unfamiliar territory as a country but as so many have reminded us in the past few days / week - we will push thru this.

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"The Birnie Fam Bid Fenway Adieu!"


I’ll be channeling my inner John Updike for this effort. As every native New England bred “sahx” fan of a certain age can attest, it was Sir Updike who penned the quintessential farewell article to Boston Red Sox Legend (intentional cap “L” FYI!) Ted “Teddy Ballgame / Splendid Splinter/ The Kid” Williams which appeared in the October 22, 1960 issue of The New Yorker magazine. Click link below to read Updike's masterpiece!
Over the years, so many of you have permitted me to be a part of your personal lives – willingly and emotionally opening up to me with your dreams, fears and financially driven challenges. It is this confidential place in your lives I value greatly. Today I share a bit of the Birnie family chronicles with you.  
Earlier today we had to put down our first family dog “Fenway” (but of course) after 14 years of loyalty and love. In baseball terms, we had to take the future hall of fame starting pitcher out of the game!

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Peeling the Onion

"Peeling the Onion" on Mutual Funds Capital Gains Tax - Brings Tears to the Eyes!

Wall Street rarely (OK never) sends “a warning memo” in advance of a pending negative market event to investors. Imagine the erosion of portfolio values that would have been avoided in the late 2000’s if they did! However, in the 4th Quarter of every year – mutual fund companies do just that – they post their estimated capital gains distributions for each fund. Furthermore, the companies tell investors well in advance the exact date they will be distributing them.

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Who Invented the 1% fee? Only “Oliver” asks "Please Sir I'd like some more!

Good afternoon - Successful inventors have always been the catalysts for tremendously impactful societal and economic changes over history. Thomas Edison is credited with inventing the light bulb, Alexander Graham Bell – the telephone, and Steve Jobs – well seemingly everything else (except the Internet which of course Al Gore created!) Clearly these inventions have an amazingly life changing impact on virtually everyone living in any developed country. An “invention” that is never discussed – but felt by most every investor working with an advisor today - is the “1% of Assets” advisory management fee. The unknown “creator” of this approach has funded an entire industry on the wallets of retail investors.

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"...Funny, but its still rock and roll to me"

Good afternoon -

“Everybody’s talkin’ bout the new sound funny but it’s still rock and roll to me!”

This was a line from a Billy Joel song of the same name that many of us (now in our 50’s) sang in the early 80’s. We had no idea what it meant or was referring to then, but we emphatically belted it out! I heard it over the recent weekend (as a quick aside – it was not on any playlists of the 20+ members of the Penn State Women’s club lacrosse team who descended on our house - but more on that later)!

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