Reflections at Year-End from Litman Gregory Wealth Management

As we approach the end of a year marked in many ways by things that divided people, we welcome the holiday season for the togetherness it brings and the reminder that we share common overarching goals of love, peace and prosperity.

While acknowledging there are problems around the globe, we remain hopeful they can be resolved. We are also thankful to be another year farther away from the highly damaging and surreal experience of a global pandemic. Life has largely returned to normal, inflation continues to come down, the U.S. economy has so far managed to avoid a recession, and the stock market experienced another strong year.

We are also appreciative of the charity we see from those committed to helping the less fortunate in their communities. In our work with clients to support their philanthropic planning, we are not only impressed by their generosity, but also appreciative that being in the business of serving them allows us to provide support within our own local communities.

For many years now, the focus of our firm’s charity partnership program has been to support organizations in our communities that seek to address the cycle of homelessness. While family-focused holidays shine a light on the problem, enduring successful solutions require year-round hard work and we believe these organizations are making a difference:

• Shelter, Inc.  supports homeless families in the region east of San Francisco. In addition to housing, they provide vital support services, such as vocational assistance programs for veterans and children. Beyond direct donations to Shelter, our employees work with the organization on fundraising and other events to support families directly – such as creating Thanksgiving boxes for families in need and providing them to Shelter Inc. to distribute.

• Compass Family Services works with homeless families in and around San Francisco. Compass has been in operation for over 100 years and has built a deep understanding of factors that contribute to the cycle of homelessness. Their programs provide a breadth of support that allows families to succeed in the long term. Our employees were recently involved in just one of Compass’ many volunteer events, Adopt-a-Family, where volunteers purchase and wrap holiday gifts that are later distributed to participating disadvantaged families.

In addition to giving to our community, the importance of family within our workplace is a core value as well. We care about our people and appreciate that they are the means through which we deliver on our mission to support our clients’ success and well-being. We cultivate a culture that is both caring and fun, and one example of this was a summer “Office Olympics” event we held in August. The office games fostered a wonderful sense of teamwork and fun amidst a friendly competition that coincided with the actual summer Olympic games in Paris, where our iM Global Partner (iMGP) parent company has its headquarters.

We are also thankful for community brought together by our Client Symposium event in October. We hosted a panel discussion comprised of iMGP Fund Management (iMGP FM) senior research team members who support our portfolio management, and followed that with a fascinating guest speaker on the topic of artificial intelligence. We were grateful for the chance to interact in person with our clients and friends of the firm and enjoy an evening reception on the rooftop of the Commonwealth Club.

With respect to the closeness of our employees, it is with great sadness that we mourn our friend and colleague, Philippe Uzan, who passed away much too young. Philippe worked closely with the U.S.-based iMGPFM research and Litman Gregory Wealth Management advisory teams in his capacity as Global Chief Investment Officer of iMGP. He was a man of extraordinary humanity, intelligence and kindness. We will all miss him very much.

With this loss of our colleague just as the holiday season began, we are reminded to focus on what we are grateful for and the relationships we hold dear. As we look forward to 2025, we are deeply appreciative of the trust placed in us by our clients and want to wish you, your families, and all our friends a joyous and prosperous new year.

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These materials have been provided by Litman Gregory Wealth Management, LLC (“LGWM”) for informational purposes only. Economic and market trends mentioned herein are for context and do not guarantee future performance. No statement herein is to be construed as a solicitation or recommendation to buy or sell a security. The information contained herein has been derived from sources that we believe to be reliable; however, we do not make any representation as to the accuracy, timeliness, suitability, completeness or relevance of any information. Nothing herein should be construed as legal or tax advice, and you should consult with a qualified attorney or tax professional before taking any action. Information presented herein is subject to change without notice.

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