NNP IN THE NEWS: The Donald

The economy and wealth managementIn the December 28 issue of The Greenville News, Nachman Norwood & Parrott’s 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 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.

Perspective Paper: Residential Real Estate

nnp-perspectives-thumbnail-realestateWhile millennials may be driving much of the commercial real estate market, the Greenville residential market is also feeling the impact of baby boomers downsizing into smaller homes. Joan Herlong, Residential Real Estate expert, says, “You have to view your home as an investment, or else it will be a drain. High net worth individuals that want to downsize need to understand that it is imperative to have recent renovations done on their home if they want to make a profit.”

Buyers are not willing to bid on an old home then proceed with renovations if they cannot get a good deal, which in turn, means the seller will not make any profit. It is a balancing act between minimizing inconvenience and maximizing return, dependent upon each individual’s situation. People often make the mistake of not doing their homework when it comes to buying or selling, and Herlong encourages people to interview more than one agent by asking questions – which means that both the seller and the buyer are making a fully informed decision.

Nachman Norwood & Parrott partners with professionals in the field to make sure we have an informed outlook on the industry. Let us help you determine what questions to ask your agent, and learn more by downloading “Perspectives” today.

Joan Herlong is not affiliated with NNP Wealth or its affiliates. The material presented is not considered an endorsement of the professionals and therefore NNP Wealth gives no assurances as to the quality of their services.

The opinions expressed here reflect the judgement of the author as of the date of the report and are subject to change without notice.

Perspective Paper: Commercial Real Estate

Utilizing your Financial Advisor when it comes to real estate investments can be a powerful tool in your wealth management arsenal, especially knowing what trends are driving the industry. According to Commercial Real Estate expert, Clay Grubb, the latest trend is, “Demand outstripping supply in every component of real estate right now. There is more demand than there is supply being built, and demand will continue to outstrip supply for the foreseeable future.” This trend is due to the largest generation yet — millennials.

Millennials are a huge component of this trend in the sense that the industry has this large demand for apartments that is not able to be met. Eventually, millennials will begin to buy homes, but that will not occur for another several years. The biggest problem is that the criteria to qualify for a home loan have become so burdensome that it is extremely difficult to attain one. People don’t have easy access to home loans, and this is the reality of the regulation pendulum swinging the other way after the housing crisis of 2008.

Learn more about commercial real estate trends and key factors that play an important role by downloading “Perspectives” today.

Clay Grubb is not affiliated with NNP Wealth or its affiliates. The material presented is not considered an endorsement of the professionals and therefore NNP Wealth gives no assurances as to the quality of their services.

The opinions expressed here reflected the judgement of the author as the date of the report and are subject to change without notice.

Perspective Paper: How to better utilize your tax advisor

Using a tax advisor for wealth management Too often we see our tax advisor or accountant once a year for tax season, and don’t think about that person again until the following year. One of the biggest lessons we gleaned from our thought piece, “Perspectives”, is the need to use a tax advisor strategically.

One of our interview subjects, Kris Gretzschel, CPA, CFP®, First Vice President at Wells Fargo Advisors, offers  insight on investments in MLPs, the importance of ownership when it comes to 529s, and other tax-efficient and retirement strategies. For example, certain types of business losses can be used to offset other income or gains, such as Roth conversion income or gain from the sale of real estate.

To learn more about how to better utilize your tax advisor and read more insights from our interviews, download “Perspectives” today.

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

NNP IN THE NEWS: Anarchy in the UK

Anarchy in the UK?

Published June 29, 2016

Brexit_JPGIn the June 29 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Managing Director, Bob Nachman, was quoted in an article about Brexit’s effect on the global markets along with professionals from GE, BMW and others. Nachman agreed that the Brexit vote is generating widespread uncertainty, with the Dow falling 610 points following the vote, and with losses continuing.

“If you have a properly diversified portfolio, there’s no reason to panic, said Nachman. “There could be investment opportunities that present themselves because of this. That’s not just stocks. That could be bonds or other type investments.”

Read the full article on the Upstate Business Journal’s website, or call us at (864) 467-9800 if you have questions.