HighTower Podcast: Collective Wisdom

Peter Lang of HighTower Westchester and Ruth Gretz of RTD Financial discussed the long-term, non-financial concerns that investors need to consider and both noted that timing Social Security and considering increasing lifespans are among several crucial decisions that need to be made properly in order to protect a lifetime's worth of saving and planning.

Ruth Gretz of RTD Financial in Westport, Conn., and Peter Lang of HighTower Westchester (NY) discussed properly maintaining beneficiary designations on this week's Collective Wisdom podcast, noting that it's a small, forgettable task that has big consequences when not kept current after life events and other changes. They discussed the gamut of documents and situations where a small mistake -- not updating a form -- can have enormous consequences that can effect families for generations.

Peter Lang of HighTower Westchester and Jeffrey Corliss of RDM Financial discussed their takeaways from HighTower's recent Executive Service Showcase, most notably in areas that are not related to investments. Lang noted that investors need to focus on saving more and on managing money with an eye toward their longevity. Corliss, who also stressed the importance of examining longevity, while also stress-testing a financial plan against the need to care for parents, adult children returning home, loss of work before planned retirement age and more.

This week's Collective Wisdom discussion focuses on using smart-beta, industry- factor- and event-based exchange-traded funds (ETFs), and while the experts -- Ray Baraldi of Sarian Strategic Partners, Jimmy Hausberg from The Hausberg Group and Jeff Kelly of Kelly and Wohlner Group -- all advocate for their targeted use to lean into specific opportunities and market conditions, they also point out how crucial it is to plan from the get-go for leaving such specialized investments behind.

Jimmy Hausberg of the Hausberg Group said he is looking for disruptive technologies when he tries to spot the next great investment area, while Jeff Kelly of Kelly and Wohlner said he thinks cannabis are the hot stock idea. Ray Baraldi of Sarian Strategic Partners said he favors the disruptors, but uses a cannabis ETF investment for clients determined to own pot stocks. One thing all agreed on was using ETFs for emerging, nascent industries

Jeff Kelly, chief investment officer at The Kelly and Wohlner Group in Denver, said there is a compelling case to be made for iincome-oriented investors with a balanced portfolio to make a slight increase to their allocation toward ultra-high quality long-term bonds. His HighTower colleagues, Jimmy Hausberg from the Hausberg Group in Beverly Hills, Calif., and Ray Baraldi of Sarian Strategic Partners in suburban Philadelphia -- both were a bit more cautious on long-term bonds noting that a muddy rate picture makes them nervous about extending durations too far out.

Peter Lang of HighTower Westchester and Michael Sheldon of RDF Financial Group take on the classic active-versus-passive management debate and while both advisers use each form of investment vehicle for clients -- depending on circumstances, needs and more -- Lang explained why he has a slight preference for active management while Sheldon extolled more the virtues of passive investing.

Matt Harris, head of investment strategy for HighTower Wealth Management, joined Collective Wisdom host Chuck Jaffe on his show, Money Life, to discuss the market's current technical signals. The interview -- a bonus episode of Collective Wisdom -- has Harris discussing why stock prices -- despite solid underlying technicals -- seem likely to bounce around in a wide range for a while, awaiting a catalyst that can help the rally continue or that triggers a deeper setback. 

Michael Sheldon of RDF Financial Group and Peter Lang of HighTower Westchester discussed the concerns they had for the market entering 2019 and what they are worried about now, two months later after the market staged a stronger-than-expected rally to start the year.

Domestic Equity: Which sectors are attractive and which are challenging?

HighTower, a national, independent financial services firm, believes in the diversity of opinion to develop its intellectual capital. The "Collective Wisdom" podcast from HighTower's Global Investment Solutions showcases the range of thinking at the firm, highlighting financial topics that matter most to you. Subscribe now to get regular updates from HighTower advisors from around the country.