We would like to share some important and exciting news about Litman Gregory’s future. After much careful thought, analysis, and discussion, our principals have decided to take a significant step toward growing our resources and ensuring our ability to excel for generations by joining iM Global Partner, a privately held global investment services firm dedicated to asset management.
In this evolution, Litman Gregory will become the base of the firm’s U.S. operations and the sole wealth management service offering, which will continue to operate under the Litman Gregory name. This transaction is expected to be finalized within the second quarter of this year, and we believe it represents a meaningful advance for us and our clients.
Before arriving at this decision, we conducted an intense due diligence process with iM Global Partner and its principals, very much in keeping with our research-driven process. What we found is an investment sophistication that reinforces the level of research at Litman Gregory and a service orientation that mirrors our client-centered focus. Moreover, they have the resources and commitment to position us so we can continue to deliver the fresh thinking, disciplined management, and high-level of attention our clients expect from us.
Our criteria in this evaluation process tied back to the three pillars that formed the foundation of our business from the start: 1) our clients, who are the reason we come to work every day; 2) our people, who come together with the single mission to serve clients; and 3) our financial strength, providing the resources to ensure we can retain a great team of people and the tools they need to provide exceptional service. We know that all three pillars must be in balance to mutually support one another and to ensure our ability to serve clients across generations for decades to come. Through our due diligence, we determined that the combination with iM Global Partner brings us together with like-minded people and will make Litman Gregory stronger in the right ways, to the benefit of our clients and people.
As for the day-to-day work at Litman Gregory, it will be largely unchanged in how we interact with our clients. The Litman Gregory advisors and the broader client management team will continue in their current roles as well as their relationships with our clients. Similarly, our Chief Investment Officer and research analysts will remain focused on providing the disciplined, research-driven investment management strategy our clients know and expect.
We invite you to learn more about this next chapter for our firm by talking with your advisor and our team.
Our Team is Prepared for the Gender Wealth Shift
Many leading companies have started to shift gears by offering new products, hiring more female advisors, and launching financial literacy and community outreach events. At Litman Gregory Wealth Management, we're ahead of the curve, with women making up 50% of our team.
Fourth Quarter 2023 Investment Commentary
As 2023 unfolded, global stock and bond markets ignored widespread expectations of a U.S. recession and surprised forecasters by shaking off a host of uncertainties to post strong gains for the year. This was a welcome rebound after a very difficult 2022, where high inflation made the Fed decide to raise interest rates sharply which led to negative returns for virtually all traditional investments. In this commentary we cover what led to the 2023 returns, as well as our outlook and strategy as we look ahead in 2024.
Year End Wishes from Litman Gregory Wealth Management
In reflecting on the events of 2023, we witnessed a positive turn in the financial markets as investors anticipated the possibility of a “soft landing” for the U.S. economy, but we were also disheartened by numerous worldwide conflicts. As we balance these experiences, we are grateful for our business and client relationships, and more than ever we are encouraged to be of service and give back to our community.