By Published On: October 16, 2023

Where to begin?
Historically low unemployment. Fall weather. Russia, Ukraine and…North Korea. Rising interest rates. Job
changes. New York City’s deluge of water. The transition to Schwab. Unexplained aerial phenomena. Camping.
Umbrella insurance. Economic turmoil in China. New estate documents. Artificial Intelligence. Congress.
It’s been a topsy-turvy few months and that’s after a topsy-turvy few years.

These are just some of the topics I’ve covered with clients in the last several weeks. Some of national
importance, some of familial importance, some of importance only to a party of one. In these discussions one
thing is abundantly clear –you hired PWM to talk through the things on your mind, to discuss and assess options,
and to rest better in the pre-dawn hours knowing that you have someone on your team looking out for your
family. What will the world throw at us next? Although my crystal ball remains out of order, I do know that if we
focus on what we can control, that which we can’t seems a lot less worrying. If any of the above is of concern,
or there is something else on your mind, let’s get on the phone to schedule some time to talk through it.

Adios TD Ameritrade; Hello Schwab
The transition from TD Ameritrade to Schwab has come and gone. Although Schwab still has administrative work to do, here and there, the job has mostly been completed. There were no significant issues during the transition, and we are generally working normally with Schwab in the same manner we had previously worked with TD Ameritrade.

All that said, five years ago when I chose TD Ameritrade as Passport’s preferred custodian, it was in part due to some of TD’s competitive advantages with respect to technology, service, and systems. Now that we are fully integrated into Schwab’s systems, I don’t see the same attention to technology, service, and systems we enjoyed with TD. Because it is my duty to ensure we’re taking advantage of the opportunities on the market, I’ve accelerated my evaluation of alternative custodians to determine if there’s a different option that may now be better positioned to better serve you. Stay tuned.

Family Study Abroad: 2023
Our family study trip to the city of Merida was a success. The kids enjoyed their summer camp, which was filled with plenty of other kids and it made for a fun-filled two weeks. The irony is that our kids barely practiced Spanish this year, with so many other English speaking kids present, but have been diligent about daily Spanish lessons in Duolingo since we returned home. While in Mexico, we visited several Mayan archaeological sites, our favorite being Uxmal, and also found time to swim in a couple of cenotes. We are now turning our sights toward our 2024 plans, your suggestions are welcome!

Live Long and Prosper,

Dan Tobias, CFP®

Please note: The above is a copy of the 2023 Q3 Passport Wealth Management client newsletter attached to quarterly statements from October 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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