Wealth Management

(New York)

One of the biggest problems in the ESG/Sustainable investing space is finding out whether specific companies actually fall within the scope of such considerations. The space is becoming slowly more transparent, but sorting good from bad companies is still one of the major search and cost challenges of investing in the area. Well today we have more info on a new screening tool, called As You Sow, which helps investors sort good from bad companies and find companies and funds which match their desires. The new tool allows you to screen for certain characteristics: “deforestation free funds”, “gun free funds” etc.

FINSUM: Every advisor has clients for whom ESG is an important consideration (especially those with clients trending younger) and this is quite a helpful (and free) tool.


Whether or not you are a supporter of Elizabeth Warren and her aggressive tax plans, one has to worry about the recent arithmetic that is coming out of her campaign. In particular, what is emerging is that many wealthy Americans would have tax rates over 100%. In many cases they would be as high as 158%. The reason why is a combination of the tax rates Warren favors, but critically, also her goal to tax unrealized gains. That means taxes would need to be paid in cash on investments that have not realized cash gains.

FINSUM: In our view, this is little more than divisive and punitive, not to mention rife with bad logic that will create unintended consequences. We are not in principle against the idea of some moderate level of redistribution to help strengthen the country and economy, but this is highly unfair.

(New York)

The world’s leader in managing the ultra-wealthy’s money says that the rich are bracing themselves for a big selloff in 2020. The firm’s clients hold near record level of capital in cash—25%—and think the stock market is going to have real trouble next year. The two major concerns occupying the minds of the ultra wealthy are the US-China trade war and the 2020 US presidential election. The bank got quantitative results on the topic from a recent survey, which received 3,400 responses.

FINSUM: Nobody knows how the market will do next year, and it is never hard to find people that are bearish. This looks like the perfect wall of worry for stocks to climb.

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