News & Views
“Investor, please meet TINA. TINA, please meet investor. I doubt you’ll like each other, but you’re going to have to get along.”
T.I.N.A. = There Is No Alternative
If you are hearing this acronym for the first time, there are a few things you must understand about it that has now become common in the investment-industry lexicon:
Norris Perné & French Named to 2020 Financial Times 300 Top Registered Investment Advisors for the Second Consecutive Year
July 31, 2020 09:00 AM Eastern Daylight Time
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Norris Perné & French (NPF) is pleased to announce that it has been named to the 2020 edition of the Financial Times 300 Top Registered Investment Advisers. This is the second consecutive year that NPF has been included in the FT300.
The top 300 firms were chosen based on several key factors, including: assets under management (AUM); AUM growth rate; years in existence; industry credentials of the firm’s advisors; online accessibility; and compliance records.
“We are honored that the FT 300 included NPF as one of the leading independent RIAs in the country,” said Kurt Arvidson, Chief Investment Officer and Partner at NPF. “The recognition is a testament to NPF’s clear and consistent approach, deep knowledge, and unwavering focus on helping each client protect their wealth through tailored planning, active investing and complete coordination across their financial life.”
Founded in 1933, NPF is one of the longest standing privately owned investment management firms in Grand Rapids. The firm has over $1.6 billion AUM and is led by a team of highly credentialed advisors focused on working with individuals, families, businesses and endowments in Grand Rapids and across Western Michigan.
“We are fiduciaries who always put the best interests of clients first,” added Jay Wisentaner, Partner and Portfolio Manager at NPF. “Our inclusion in the FT 300 reflects our relentless commitment to fulfilling that duty and delivering clear, sound and trusted investment counsel to clients.”
“Everything we do is about getting better for clients, from achieving the highest professional designations to investing in advanced planning tools and technologies,” added Chad Dutcher, Partner and Portfolio Manager at NPF. “Our inclusion in the FT 300 for the second consecutive year reinforces that strategy.”
This is the seventh annual FT 300 list, produced independently by the Financial Times in collaboration with Ignites Research, a subsidiary of the Financial Times that provides business intelligence on the investment management industry. The quality of services was not evaluated, and the award is not indicative of future performance. No fees were paid by NPF or its employees to The Financial Times or any of its affiliates in exchange for inclusion in the FT 300. For more information on the FT 300 ranking, please click here.
Founded in 1933, NPF is one of the longest standing privately owned investment firms in Grand Rapids, Michigan that partners with individuals, families, businesses and endowments to grow and preserve their wealth through tailored planning, active investing and complete coordination across financial life.
“Stability leads to instability. The more stable things become, and the longer things are stable, the more unstable they will be when the crisis hits.” – Hyman Minsky
Lately, it seems we have more questions than answers. Even basic decisions in life have felt like a challenge amidst the disarray. Things like trips, big purchases, or even careers/retirement can hardly be ascertained when we don’t have a clear picture of what life will be like in the next three months, let alone the next 12 months.
Dazed and confused.
That’s probably how you are feeling right now as you watch the stock market rally while we continue to see some of the worst economic data since the Great Depression. On the surface, it would seem like a massive disconnect. We know things are bad, so why isn’t the market behaving as such? Because we knew it would be awful.
Markets on Lockdown: Sheltering in Your Plan
“The truth is, the next crisis won’t be caused by the same problem…It will likely come from something we are not watching or thinking about (although in hindsight, it will seem obvious). That’s what makes it a crisis.” -NPF Client Letter, January 2020
Market liquidity is like oxygen: you take it for granted when it is plentiful, but you absolutely notice it when it disappears. For the past twelve years, liquidity (except during a few occasions) has been ample – liquidity, by the way, represents an asset’s ability to be transformed into another (i.e. cash) without a loss. However, in moments of extreme panic, liquidity dries up quickly causing losses for market participants that have no other choice but to accept a lower price than fair value for an asset sale (namely, stocks and bonds).
As investors, we must accept that the financial markets can occasionally be a dangerous place. The only certainty we have is that the future will surprise us, as it is unpredictable. If it were predictable, you would not be rewarded for putting your hard-earned savings to use in investment assets.
Willingness to tolerate risk = Opportunity to be rewarded for investment