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Dear Clients and Friends,
As we reflect on the third quarter of 2024, I am pleased to share with you the significant developments that have shaped our firm, the financial markets, and my personal journey. This quarter has been marked by notable achievements, challenges, and opportunities that I believe are important to communicate with you, our valued clients and friends.
The third quarter of 2024 has been characterized by resilience and adaptation in the face of evolving economic conditions:
On a personal note, I am excited to share that my family and I will be relocating to Brisbane, Australia in late January 2025. This move presents an opportunity to enhance our service offerings by expanding our operational hours across multiple time zones. Rest assured, this transition will not impact the quality of service you receive. In fact, we are in the process of hiring additional staff to ensure seamless support for our U.S. clients.
As we navigate these changes and opportunities, I want to reaffirm our unwavering commitment to your financial well-being. The events of this quarter serve as a reminder of the importance of maintaining a long-term perspective and the value of adaptable, strategic financial planning.
I look forward to discussing these developments and your personal financial goals in our upcoming meetings. As always, please don't hesitate to reach out if you have any questions or concerns.
Wishing you a wonderful, peaceful and prosperous fourth quarter of good health and tidings.
Yours sincerely,
Ashley Murphy, CFP® GFP (USA) Fellow
Founder / Financial Advisor Areté Wealth Strategists, LLC.
Minneapolis, MN, USA
As we begin the final quarter of the year, financial markets and the economy have defied the expectations of many investors. Rather than falling into recession, the economy has grown steadily, albeit at a slower pace, and inflation rates have fallen toward the Fed’s target. As a result, the macroeconomic environment has shifted to a monetary easing cycle, propelling the S&P 500 and Dow Jones Industrial Average to new all-time highs and boosting bond returns. The first three quarters of the year are a reminder that it’s often best to focus on the longer-term trends rather than events in the rearview mirror.
Arete Wealth Strategists celebrated its 11 year anniversary on August 6th. We expect by the end of the 4th quarter to surpass $100M USD in client assets under management. The $100M marks the transition point from being a State Registered Investment Advisor to that of an SEC Registered Investment Advisor. This is a significant step that will expand our capabilities and oversight.
If you’ve logged into your Advyzon client portal lately, you will have noticed the new updated look. They’ve added a variety of new widgets and functionality giving it a more modern aesthetic, and more comprehensive insight into account details
In late December we’ll be sending out our annual Client Satisfaction Survey. This is our primary tool for determining how we’re doing and as such, we make a strong effort to address every detail of feedback we receive.
As per prior year’s, we’ll be offering multiple gift cards to encourage participation.
My wife Eliza had a big announcement to make on our recent Australia trip. After spending some weeks back there to confirm a few things, she surprised us when she said we should move back. Thus, as of late January 2025, we’ll be relocating (back) to Brisbane, Australia!
You’ll recall we moved there for 2.5 years from Feb 2021 to July 2023, so there’s no question that it’s possible for me to run our operations from Australia. Our client satisfaction surveys in 2021 and 2022, also suggested we continued to do a fine job.
My plan is to shift my work day to better align with the U.S. I’ll also be making bi-annual U.S. visits to meet with clients, attend conferences and meet with centers of influence in the business.
We’re in the process currently of hiring a second staff-member to increase support on the US side. We’re also on track with business growth to be SEC registered by Q1 of next year. We’re committed to this move being a catalyst for enhanced customer service as we’ll now have more staff and cover more timezones.
In mid September I made a much anticipated canoe-ing/camping trip with some friends around the Minnesota Boundary Waters Conservation Area. We paddled about 3 miles and 5 portages on the first day and made it from Poplar to Gaskin Lake, where we set up camp for two nights. The weather was perfect and it was a wonderful opportunity to experience this pristine wilderness before setting off for Australia.
This fall, I’ve volunteered with the Edina boys Mountain bike team as a coach. They’ve put me with ‘Pod 1,’ the Varsity team. It’s been rewarding to share some cycling insights gained from 31 years of riding and racing. I dream of starting an inter-school Mountain Bike racing program in South-East QLD, and better yet, my daughters being in it!
Please keep an eye out for the registration emails closer to the date
Flourish Cash is an innovative cash management solution that offers exceptional benefits for Areté Wealth Strategists clients, we make available for no additional fee.
Happiness & Money: Studies, Examples, and Tips
Happiness, which may be described as a combination of eudaimonic happiness (meaning and purpose) as well as hedonic happiness (positive emotions) can arise in many moments as a result of many different experiences.
Medicare Premiums 2025: Projected IRMAA for Parts B and D
Projections for Medicare’s 2025 income-related monthly adjustment amount (IRMAA) are out. Now is the time to check your 2023 tax return to see if you might be subject to the surcharge next year.
In this webinar, Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, GFP Fellow CFP® reflected on his family’s momentous decision to move back to Australia and be permanently based from there as of 2025
Please click 'Aussie Dreams' and 'Avoiding the Super Tax Trap' to watch the 60 minute webinars.
Our Process - The Wealth Summit Pathway
If you’ve been pleased with the work we’ve done together and have a friend or someone you care about facing similar challenges, we want to extend for you to make an introduction. We guide all clients through our Wealth Summit Pathway process to get to understand their most deeply held values, goals and understand their relationship to money. If we’re not the right firm to help them, we will do our best to find them the right advisor.
Please let me know if we might be of assistance.
Have a wonderful rest of your day,
Ashley Murphy, CFP® GFP Fellow
Areté Wealth Strategists, LLC.
Access our comprehensive, unbiased financial guides here.
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