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| J. PINK ASSOCIATES, INC.,
FINANCIAL ADVISORS
555 Taxter Rd. Suite 190
Elmsford, NY 10523
Ph... 914-524-7770
Fax. 914-524-7771
Weekly Market Review |
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| Greetings!
As I mentioned last week, here is some information about the different licenses advisors need.
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Series 6 - A securities license entitling the holder to register as a limited representative and sell mutual funds, variable annuities and insurance premiums. Holders of the Series 6 license are not permitted to sell corporate or municipal securities, direct participation programs and options
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Series 7 - A general securities registered representative license administered by the Financial Industry Regulatory Authority (FINRA) that entitles the holder to sell all types of securities products with the exception of commodities and futures
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Series 63 - A securities license entitling the holder to solicit orders for any type of security in a particular state. This license is required in addition to the Series 7 or Series 6
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Series 65- A securities license required by most U.S. states for individuals that act as an investment advisor. To me, this license is a must have. This license takes your advisor from a registered sales rep to that of a professional in a position to serve as your advocate, someone in a position to offer comprehensive advice & guidance
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Series 24- This license allows the holder to supervise other series 7 holders as well as manage and oversee all office/ branch activities. Before taking the Series 24 exam, you must have your Series 7 license
This is meant to be a basic list of licenses and is in no way an exhaustive list of every license available.
For the record I currently hold series 7, 63, 65 & 24 as well as my Life & Health Insurance licenses.
Once an advisor has some or all of the above licenses, they must be maintained through continuing education. This keeps your advisor current on topics in various areas covered under these licenses.
Anyone not currently licensed is not in the best position to educate the public. In many cases, they themselves don't fully understand just what they are talking about. Once these licenses are held, any communication with the public, clients or otherwise, must be passed through the corporate compliance department at the Broker/ Dealer to further insure any information passed out is not misleading or inaccurate.
My point is simply; take a moment as you hear advice and opinions to qualify the source, before considering action.
Fondly,
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| Market Commentary
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It was a small victory but US stock investors will take it. The S&P 500 stock index was up +1.6% (total return) last week, coming on the heels of its +10.8% advance the week before. It was the first set of back-to-back "up-weeks" since mid-December. Market watchers continue to debate whether the S&P 500's +13.7% gain (in just the last 9 trading days) is a "bounce" or have we exited for good the 3/09/09 bear market closing low? Investor confidence will be impacted in the coming weeks by the release of corporate earnings reports for the first 3 months of the year (source: BTN Research).
Lost in the fury and anger that emanated from Congress last week over executive bonuses was yet another multi-billion dollar government initiative. President Obama and Treasury Secretary Geithner announced last Monday new measures that will focus on stimulating loans to small-businesses, a key lending activity that is currently running at half of its normal level (source: White House).
President Obama will sell his $3.6 trillion fiscal year 2010 budget plan to a national television audience on Tuesday night. One month ago, the Commerce Department announced that the US economy shrunk by 6.2% during the final quarter of 2008, a number that will be revised by the government on Thursday (source: BTN Research). |
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1. COMPARING BEARS - The 2000-02 bear market for the S&P 500 lasted 30 ½ months, fell 49.1% from "peak to trough" and bottomed when the index closed at 777 on 10/09/02. The current 2007-09 bear market for the S&P 500 has lasted 17 months (so far), has fallen 56.8% from "peak to trough" and bottomed (so far) when the index closed at 677 on 3/09/09. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).
2. POST-BEAR RETURN - The average gain for the S&P 500 in the 1-year following the low close for the 8 bear markets that occurred in the last 50 years is +36.5%. The current bear market is the 9th bear market of the last half-century. The closing low point (so far) of this 9th bear market took place 2 weeks ago today on 3/09/09 (source: BTN Research).
3. PLEASE TAKE ME OUT - 48% of Americans would end their participation in the Social Security program if that option was available, i.e., make no contributions into the program and receive no benefits from it (source: Sun Life).
4. A FEW STATES - 50% of the foreclosure action that took place last month on nearly 291,000 troubled properties nationwide occurred in just 3 states. The 3 states are California, Florida and Arizona (source: RealtyTrac). |
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At J. Pink Associates, we do comprehensive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial world and thoughtfully crafting a strategy to identify and support your goals.
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This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by NFP Securities, Inc. as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Past performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
Securities and Investment Advisory Services offered through NFP Securities, Inc. a Broker/ Dealer, Member FINRA/ SIPC and a Federally Registered Investment Advisor.
NFP Securities, Inc. does not offer tax or legal advice
NFP Securities, Inc. Is not affiliated with J. Pink Associates, Inc., Financial Advisors
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