Barron’s Top Independent Advisor Summit 2018

Front of a ship in the ocean

I was honored to attend the Barron’s Top Independent Advisor Summit this year. This was the second year I was invited to this annual networking session, which they say is the Top 1% of advisors in the nation. The focus was a look into the future for this Digital world in which we live. There was discussion on Blockchain and cryptocurrencies and the role they’ll play in the years ahead. The Financial services industry is changing at a rapid rate and it’s critical to stay ahead of the curve. Web 3.0 is coming. It is driven by connectivity and artificial intelligence. Machine learning is advancing at a rapid rate. It’s big.

Investing is always about the future. You learn from the past but you look to the future. This is a disruptive age where century-old companies are threatened by organizations that are new. They are companies built for success in the 21st century not the 20th. But there are some clever ways for established companies and industries to adjust for survival. We think about these trends and shifts daily. It’s very investable.

People are living longer today, and the risk of Americans outliving their savings is high. Americans between the ages of 55 and 64 have accrued roughly $104,000 on average in savings for retirement. However, the median is closer to $20,000. The cost of assisted living and long-term care has risen much faster than inflation. Could a low-tech vessel on the high-seas be an answer? Cruise ships might be part of the solution as apartments at sea.

Cruise ships offer similar amenities to paying passengers of all ages. Most cruise ships have all-inclusive meals available throughout the day. There are regular social activities aboard the ship too. Cruise ships also have onboard pharmacy services as well as urgent care with doctors and nurses. Medical staff is typically on-call 24-hours daily. Cruises can come at a cost far less than assisted living solutions. 40% of Seniors travel alone today. Cruises offer a community. They are shifting from low-tech to high-tech too. The possibilities are fascinating to explore.

The Market volatility continues. We expect more to come well into Spring. The trade war rhetoric has been a catalyst for corrective price action, which was necessary. It’s a process. We continue to research new investment themes while we study market behavior. We are investing for the future. Our firm is built for the future.

Have a nice weekend. We’ll be back, dark and early on Monday.


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