By Published On: July 21, 2023

Passport Wealth Management is five years old!
Passport Wealth Management was approved by the State of North Carolina on July 11, 2018. Since then, the firm has expanded more than I had anticipated at the time, and I have each of you to thank. When I look back at my own personal goals 1 from five years ago, I see some that I have failed to complete (let’s blame the pandemic on that) and some that I achieved ahead of schedule.

One of the most surprising things for me is how much more I’ve enjoyed my career over the last five years. In my prior experiences, the advice I gave was almost exclusively focused around the ‘nuts and bolts’ of investing, such as rates of return and other performance metrics. Since starting Passport, I’ve enjoyed the freedom to go beyond the nuts and bolts and help clients look at what money can DO for you. It has been a joy to [vicariously] join many clients on journeys of their own, often reaching financial and life milestones more quickly than anticipated.

Thank you for including me on your journey and letting me play a role in your family’s future. Here’s to the next five years together!

Switching to Schwab from TD Ameritrade
Since Schwab acquired TD Ameritrade two years ago, I’ve been talking about the transition from TD to Schwab. The final step in that transition is upon us and all accounts are due to migrate to Schwab this coming Labor Day weekend. You should have received a communication from TD about this transition; although no action is necessary at this time, you will receive instructions on how to set up and log into your online Schwab Alliance account during the month of August. Please let me know if you do not receive that information by August 15th. I continue to monitor this transition to make sure it is in your interest to remain with Schwab. Although I do expect some challenges over the next several months with the final stages of the transition, I’ve not seen anything of concern that suggests a need to move away from Schwab. Still, in an overabundance of caution Passport is currently in various levels of discussion with three alternative custodians. If you do have any questions or concerns with this transition, please give me a call so we can address those issues ASAP.

Family Study Abroad: Part Deux
Last summer Jillian and I took the kids to Cuernavaca, Mexico, for three weeks of Spanish immersion language classes. (This was one of the goals five years ago!) Although the experience was overall positive, the program we chose left some to be desired. We managed to find another location for this summer, still in Mexico, but in city of Merida, about a 4-hour drive from Cancun. The town itself is inland but near the famed cenotes and not too far from the Mayan ruins of Chichén-Itzá. Most importantly, the kids will be enrolled in a Spanish immersion camp filled with camp-like activities, rather than the traditional language classroom they had last year. I will be online and accessible during our two weeks there, bookending the trip with a pair of short vacations.


Please note: The above is a copy of the 2023 Q2 Passport Wealth Management client newsletter attached to quarterly statements from July 2023. The newsletter is published to the website for informational purposes only and is not financial or investment advice. You should consult a CERTIFIED FINANCIAL PLANNER™ Professional for financial advice. 

Past performance may not be indicative of future results. Indexes are not available for direct investment. Investing involves risks, including the potential for loss of principal. There is no guarantee that markets will act as they have in the past or that any investment plan or strategy will be successful.

About the Author: Dan Tobias

Daniel Tobias of Passport Wealth Management Fee-Only Financial Planner in Cornelius, NC
Daniel Tobias is a CERTIFIED FINANCIAL PLANNER Professional and a Fee-Only Advisor. He owns Passport Wealth Management, a financial advising firm based in Cornelius, NC that works with clients across the globe. He helps individuals plan for retirement, manage investment portfolios, mitigate taxes, and secure their financial futures. With more than 10 years in the industry, Daniel has spoken nationally on financial planning practice management and has served on the National Association Personal Financial Advisors (NAPFA) South Regional Board. He resides with his family near Lake Norman in North Carolina where he enjoys mountain biking, hiking and travel.

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