The economy and wealth management

In the December 28 issue of The Greenville News, Nachman Norwood & Parrott Wealth Management Consultancy’s (NNP) Managing Director, Bob Nachman, examines the effect our new president, Donald Trump, might have on our economy.

Bob notes that while it might be too early to know exactly what policies will be put into place by this administration, we can draw conclusions from comments that were made by the Trump team during the election. Nachman warns that even though the market is going up, you should be careful about buying expensive assets. “People have a tendency to throw caution to the wind when markets climb, but it’s actually a time to keep perspective,” says Nachman.

Read the full article on the electronic version of the December 28 issue of The Greenville News on The Greenville News’s website.

NNP IN THE NEWS: Managing Wealth Takes More Than A Financial Advisor


Wealth Management

In the December 20 issue of the Upstate Business Journal, Nachman Norwood & Parrott Wealth Management Consultancy (NNP) shares the first column of a three-part series on the importance of having an experienced group of professionals involved in your financial plan. In this first article, Managing Director Bob Nachman focuses on why creating a financial plan with a knowledgeable financial advisor is key to successful wealth management.

Nachman outlines four ideas to consider: spend less than you earn, plan for your dreams, leverage legal resources and work the plan. “We see too many high-net-worth individuals who do not live within their means and income, but instead depend on their portfolios and returns to support their lifestyle,” Nachman observes. “Being responsible with your money is necessary to guarantee long-term financial health, no matter your level of wealth.”

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.

Maximize Your Charitable Giving This Holiday

As the year-end approaches, many of us give consideration to charitable giving. Considering the post-election rally in the equity markets as well as the potential for tax reform in 2017, now could be the time to maximize those contribution dollars.

A strategy we believe may make sense is to contribute several years of charitable contributions to a donor-advised fund before the year is over. A donor-advised fund allows you to make a charitable contribution and receive an immediate tax benefit while retaining the ability to give the money away over time. With the potential for limits on deductions as well as lower tax rates in the future, the value of the deduction could be worth more today than in future years. Better yet, since many stocks have had a nice gain as of late, you can contribute highly appreciated stock and not have to worry about the capital gain.

Community foundations can provide this service as well as donor-advised funds through several of the largest investment managers such as Schwab, Fidelity and Vanguard.

With just a few weeks left in 2016, not is the time to act. We’re ready to help; please contact us to discuss this further.

Wells Fargo Advisors Financial Network is not a legal or tax advisor.

While annual giving is encouraged, the Donor Advised Fund should be viewed as a long-term philanthropic program.

Tax benefits depend upon your client’s individual circumstances. Clients should consult their tax advisor.

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC, a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company.

Nachman Norwood & Parrott Wealth Management Consultancy is a separate entity from WFAFN.