On the eve of the State of the Union Address, the media and blogosphere are abuzz with predictions, expectations, criticisms and praise for the president’s upcoming speech, which officially sets the nation’s political agenda for the upcoming year. While our message is not as lofty, we hope that our newsletter will bring you insight into our current progress and plans for the upcoming year with A Letter from Scott. In Cocktail Party Chatter, Warren will give you an economic outlook for 2011 that provides context to many of the economic issues that are the topics du jour in Washington. In the Devil’s in the Details, Karen Post helps us review the past year’s market performance. For A Little Education, Melissa Montgomery-Fitzsimmons answers many of your questions about the latest tax legislation, signed into law at the eleventh hour. And New with First Western highlights the new faces, recognitions and goings-on that have kept us smiling and busy through the end of one year and the beginning of the next.
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A Letter from Scott
“It’s good to pause now and then, it's good to pause in our pursuit of happiness and just be happy.”
-Guillaume Apollinaire
The new year always provides an opportunity to look at our pursuits and progress in the year ending, and to set new priorities for the year ahead. In the dynamic turmoil of our economic and financial climate these past couple of years, this new-year opportunity seems particularly important.
At First Western, 2010 was a very good year. Thanks to the hard work of our associates and the tremendous support of our clients, we posted another great year of profitable growth, with revenues growing companywide by a remarkable 23 percent.
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Cocktail Party Chatter
by Warren J. Olsen
I’ve called this piece “Cocktail Party Chatter” since its inception several years ago and in an attempt to be absolutely literal, we’re attaching a link to a video which has me “chattering” about my predictions (“guesses”) for the economy and capital markets in 2011. It’s actually a video recording of a presentation I gave to some clients and friends in Fort Collins on January 11, 2011.
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The Devil's in the Details
by Karen Post
Financial markets of nearly every stripe pushed higher in 2010, marking a second year of recovery from the financial crisis. As was the case in 2009, investors benefited from continued government intervention as policymakers moved heaven and earth to support economies and markets. A powerful second-half rally overcame a weak first half in 2010.
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A Little Education
by Melissa Montgomery-Fitzsimmons
The new Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 has been signed into law and many people may be reconsidering their approach to estate planning. With a $5 million exemption amount per person ($10 million per couple), a 35 percent tax rate and a portability option, fewer Americans have to worry about estate tax and thus fewer Americans should have to worry about estate planning, right? Wrong. While the tax environment may have improved, there are still strong incentives for being informed and prepared with a solid estate plan. Below are some of the most common questions surrounding the new tax laws.
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New with First Western
New Faces in Lots of Different Places
We’ve seen new faces at several of the offices over the past several months...
Josh Wilson Assumes the Role of President of First Western Trust Bank, Denver
Josh Wilson has been selected to head the Denver team after demonstrating strong leadership and notable success in developing strong relationships with clients.
Paula Hendrickson Selected as a Founding Lecturer for The Retirement Advisor University
Paula Hendrickson, our Director of Retirement Consulting Services, has been selected as a founding lecturer for TRAU™, The Retirement Advisor University at the UCLA Anderson School of Management Executive Education.
First Western on the Map
Inc. magazine has recognized First Western as one of the fastest growing private companies for 2010.
First Western in the Community
First Western finished 2010 with a continued sense of commitment to the communities we serve. We recognize that our business depends on the vitality of these communities, and we strive to integrate service into our business model and corporate culture.
Join us for Protecting the Family Wealth
After a series of successful educational webinars aimed at helping you navigate your financial life, we hope you will join us for a webinar on Protecting the Family Wealth, to be presented by Melissa Montgomery-Fitzsimmons and David Cerullo in the first week of March. This is a great opportunity to learn more about safeguarding your family and their wellbeing from financial harm.
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Investments, insurance, annuities and similar products are not FDIC insured, may lose value, and have no bank guarantee.
The First Western Trust Bank Newsletter and the information and research contained herein do not represent a recommendation of investment advice to buy or sell stocks or any financial instrument nor is it intended as an endorsement of any security or investment and it does not constitute an offer or solicitation to buy or sell any securities.
The articles within the First Western Trust Bank Newsletter represent the authors' own opinions and should not be construed as personalized investment advice.
First Western cannot provide tax advice. Please consult your tax advisor for guidance on how the information contained within may apply to your specific situation.
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