Dear Valued Clients and Friends,
Before we jump in, and consistent with the theme of Thanksgiving, I thought some of you would enjoy seeing this little piece capturing our recent team excursion to Nashville, Tennessee. I know our team is thankful for it! =)
But for those looking for an intense apologetic for dividend growth investing this week, or an updated macroeconomic perspective, please recalibrate your expectations. As has been the tradition for the last several years, today we are doing a little Thanksgiving … Let’s jump into a Thanksgiving-filled Dividend Cafe!
I am getting some very important ones out of the way. I would like to first thank my wife, Joleen, not only for over 21 years of support and love, but now for nearly five years of devoted attention to TBG. She does more behind the scenes for TBG than anyone will ever know, and I would have nothing else to say beyond this point if it were not for her.
But beyond the special favoritism for my wife, I am also deeply grateful to the leadership team at TBG. Brian Szytel is the best right-hand man a guy could have, and he is going to make an extraordinary Managing Partner someday. We have been in this together for many, many years, and he is the gold standard of an advisor and friend. Trevor Cummings has done amazing things with our Private Wealth Advisor Group, and wholeheartedly deserved the “Culture Carrier” award he received at this year’s team retreat. He also is a gold standard advisor, and his work has been monumental in TBG’s improvement as a business.
We also have remarkable directors across all of our departments at TBG, from Alexis and Beth in Operations to Kenny in Investment Process, to Joe Klein in Solutions, to Phil in Risk Management, to Rayna in Finance, to Brian, Glen, Mina, and Jo in Content. Our firm practices what we preach about the concept of division of labor, and we are blessed to finally have all the right leaders in all the right departments.
The client advisors who engage in relationships with our clients are the lifeblood of our value proposition. We desire to provide stellar portfolio management, first-class planning services, and the most sophisticated array of products, intellectual capital, and advice. And yet, at the forefront of it all, is the best band of client advisors one can find anywhere. I am so thankful for the work Kimberlee, Don, Geoff, Sean, Steve, John, Drew, Stoddard, Nate, Brendan, Evan, Sarah, and Brian do each and every day.
The phenomenal work our Risk Management launch produced a year ago has been instrumental for clients and their well-being. Phil, Michelle, Sarah, Reid, and the entire Minnesota addition have proven to be one of the great blessings in TBG history.
Speaking of additions, John Swanson and his team in Bend, Oregon, are a true blessing, and our growth to come in the Pacific Northwest is going to be remarkable. John, Jill, and Nick have hit the ground running, and we could not be more thankful for this 2022 addition.
Our 2022 portfolio management was something to be proud of, and at the core of that was a dynamic research time in Liping and Teddy and a true trading and analytics powerhouse run by Kenny, with Manuel dominating behind the scenes. Eddie is already getting up to speed, as well, and Gale has dramatically revamped our massive effort in Alternatives. Our Investment Process group is the envy of any CIO.
The Planning Department has grown leaps and bounds under Joe Klein’s direction, and to have Matt, Jeremy, Mat, and Nick under his direction creating the planning deliverables and strategy we are now creating is a thing of beauty. We earnestly sought leadership for this department for a long time, and what we are now doing across our estate planning, financial planning, and tax planning mandates is remarkable.
Speaking of tax, thank you, Michael Klarin, Tim, Michelle, Addie, and the whole KAA crew for a delightful partnership. And thank you, Menka, for fitting in so well so quickly.
I already have Joleen her shout-out, but I can’t say enough about the work my long-time friends, Brian and Glen, do to support our digital efforts every day. Lukas has been a delightful addition to the department, and Mina’s work in Design is a daily source of thanksgiving as well. And Sierra’s support to Joleen in our events and client experience – is indispensable.
And finally, our Operations department, which has become the best anywhere, from Alexis (come back soon!) to Beth (capably leading in the meantime) to Ericca, Camille, Abigail, Tammie, Laura, Darren, Charlene, and Jill – we cannot serve our clients the way we do without these service warriors on the front line. Thank you – from the bottom of my heart – thank you.
When I get past the team and the wonderful mission-minded work they do, I am struck by how many partners and strategic alliances it takes to deliver the experience we deliver. From our custodial partners at Fidelity to our platform providers at iCapital, CAIS, and PPB to our technology and infrastructure partners at Hightower, we have great professionals at great companies making our work possible each and every day. I am especially thankful to Barry, Cheryl, Jill, and Erik for Supervision at Hightower – partners and allies in every way.
I rely on the counsel and input of my dear friend, Larry Kudlow, every day. My heart is filled with Thanksgiving for his work and friendship.
Alexandra of Capital HQ, Scott of Strategy Voice, Anthony of Post Hill Press, RJ and David at Source Media, and all the friends, partners, anchors, and producers at the various shows, stations, outlets, and places that give us a microphone to share the truth – thank you.
To our asset management partners at Voya, Invesco, Miller-Howard, Blackstone, Vontobel, Cullen, Baron, Axonic, Cliffwater, and MORE – thank you. We have no interest in mediocrity in portfolio management. Thank you for your diligence, and for opening your offices for the sake of your clients, employees, and communities.
And last but not least – thank you, thank you, thank you – to those who have entrusted The Bahnsen Group with the fiduciary care of your wealth advisory needs. We appreciate you, we are committed to you, and we take seriously our promises to you. And we will never, ever, ever stop delivering truth and excellence to you.
To that end, we work, and with a heart of gratitude at that. Happy Thanksgiving.
Quote of the Week
“History is a larger way of looking at life. It is a source of strength, of inspiration. It is about who we are and what we stand for and is essential to our understanding of what our role should be in our time. History, as can’t be said too often, is human. It is about people, and they speak to us across the years.”
~ David McCullough
David L. Bahnsen
Chief Investment Officer, Managing Partner
The Bahnsen Group
This week’s Dividend Cafe features research from S&P, Baird, Barclays, Goldman Sachs, and the IRN research platform of FactSet