Signature Wealth Mangement

Happy Spring from Signature Wealth Management!

Hello April! Spring is here, and the beauty of the season is in bloom earlier than usual for large parts of the country thanks to winter’s record warmth and historically low snow cover. According to the U.S.A. National Phrenology Network – which tracks the progression of spring – this year’s “leaf out” occurred earlier across the mid-section of the U.S. and along the west coast (“leaf out” is when leaves first appear on early-spring shrubs and plants). The early buds also mean a longer and more intense allergy season. If you’re one of the millions who suffer each year, it’s time to stock up on tissues and make plans indoors – it’s likely to be a rough spring.

As a fantastic Q1 wraps up for the stock market, investors remain cautious yet optimistic that the Federal Reserve will cut interest rates in 2024. However, the Fed indicated it is in no hurry to cut rates just yet even though the economy and labor market remain strong, and inflation continues to decline. They are still focused on an inflation rate that remains above their 2% target.

April is Financial Literacy Month, a great reminder of the importance of understanding basic financial skills such as managing personal finances, budgeting, and investing. Having a solid base of financial knowledge can help you achieve your financial goals, prepare for emergencies, and feel more confident making financial decisions. If you have any questions, don’t hesitate to contact our office for help. We love to help folks feel more confident about their financial futures.

Phil Blancato’s
Weekly Market Impact

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We strive to keep you regularly updated with important market changes and news. Please listen to the most recent market update from Phil Blancato, Advisor Group’s Chief Market Strategist. This call discusses recent updates for the economy and financial markets.

Office Update

Exciting News from St. Louis Park

We’re on the move! Starting December 1, 2024, our St. Louis Park office will transition from Park Place East to the modern facilities of Crescent Ridge II, just down 394 at 10900 Wayzata Boulevard. This move aligns with our commitment to providing top-notch service in an enhanced and accessible environment for both our team and clients. Crescent Ridge offers advanced technology, improved amenities, and a dynamic workspace designed to support our mission to deliver exceptional service.

There will be no disruption in our services during the transition. We’re committed to a smooth relocation process and excited to welcome you to our new home at Crescent Ridge II. More details and directions will be shared as we approach the move date.

Office News

Baby Mila has Arrived!

We are overjoyed to share some heartwarming news from within the Signature Wealth family. Our esteemed financial advisor, Evan Kvittem, alongside his wonderful wife, Ketrin, have welcomed a beautiful, healthy baby girl, Mila, into the world this January.

Evan has been a cornerstone of our team, offering wisdom and guidance with unparalleled dedication. Now, as he and Ketrin embark on the remarkable journey of parenthood, our happiness for them knows no bounds.

The arrival of Mila opens a new chapter filled with love, laughter, and countless precious moments for Evan, Ketrin, and their family. We have no doubt that Mila has the best guides for the incredible journey ahead and we eagerly look forward to the joy and adventures that await this beautiful family.

Please join us in extending your warmest congratulations to Evan and Ketrin on this joyous occasion. Here’s to the new beginnings and the delightful journey of parenthood that lies before them.

Heather

Welcome to the Team, Heather!

We are excited to announce Heather as the latest addition to our team, joining us as a Paraplanner at our Elk River location. With a bachelor’s degree in finance & business management from the University of Wisconsin-River Falls, Heather brings a wealth of knowledge and a fresh perspective to our team.

Living in Hugo, MN with her husband Matt, their children, and pets, Heather enjoys life to the fullest. Whether it’s snowmobiling, boating at their cabin in Deerwood, MN, or engaging in home improvement projects, her enthusiasm and creativity shine through.

Please join us in giving Heather a warm welcome to the team. We look forward to the great work we will accomplish together. Welcome aboard, Heather!

Women’s Forum 2024

We’re thrilled to share that the W Forum, a premier event dedicated to empowering women in the financial industry, was recently held in Florida. This advisor-focused conference is a highlight within the Osaic network, fostering a community of female financial professionals committed to growth at every stage of their careers.

This year, we were proud to have Nakita, Traci, and Mariam represent our team at the conference. They participated in a series of engaging breakout sessions, listened to inspiring speakers, and took part in exciting activities and networking opportunities designed to foster connections and create unforgettable experiences.

The W Forum stands as a testament to our commitment to professional development and empowerment. Nakita, Traci, and Mariam’s attendance at this event underscores our dedication to nurturing talent and offering growth opportunities within our vibrant community. We look forward to the innovative ideas and fresh perspectives they will bring back to our team, inspired by their experience at the conference.

Tax Updates

Ways to Put your Tax Refund to Work

Saving money is a bit like eating healthy; you know you should eat your veggies, but it’s hard to resist indulging in something more fun. Like making healthy choices, a tax refund can present the opportunity to splurge. But, more importantly, it’s a chance to put yourself in a better financial position. 

If you’re getting a refund from the IRS, here are some ideas on how to use it for your long-term benefit.

Boost or replenish your emergency fund. An emergency fund can cover basic living expenses and keep financial plans and retirement funds secure. If you don’t have at least three months of entire living expenses set aside, consider using your tax refund to get you closer to that goal.

Pay down high-interest debt. If you have credit card debt, consider using your tax refund to pay down your balance to accelerate your debt repayment. Then, consider investing any leftover money in an interest-earning account (rather than one that charges you interest)! 

Fund your retirement. Use your refund to boost your retirement account! The more time your money has to grow, the longer you can take advantage of the power of compound interest.

Invest in your career. If there’s a course you’ve wanted to take to get your career to the next level, consider putting your tax refund toward tuition. Or, maybe you have a hobby you’ve always wanted to turn into a side business. Consider using the money to build up the inventory you need to get started.

Prepay your mortgage. Making extra mortgage payments now will lower your future financial obligation to the bank. Paying more earlier decreases the amount of interest you pay over the life of the loan.

Update your home. Putting money toward home improvements is a wise investment. By investing in new windows and appliances, you’ll not only save money on utility bills, but you’ll also make your home more valuable when it’s time to sell. 

Buy life insurance. If purchasing life insurance has always been on the back burner, a tax refund might be just what you need to enroll. A term life insurance policy is a cost-effective option to potentially protect your loved ones should something unexpected happen. 

Support a charity. If you feel the need to give back, consider donating a portion or all of your tax refund to a charity, and lower your taxable income in the process.

How you spend your money will ultimately depend upon your specific financial situation. We want you to get the biggest bang for your tax refund buck. If you have any questions regarding what to do with your tax refund, we’re here to help!

We Love Introductions!

Your connections matter to us because they matter to you. We’ve been fortunate to assist the people our clients care about across various aspects, including:

  • Crafting meaningful outcomes like leaving a legacy, planning for retirement, and supporting beloved families and causes.
  • Building financial confidence through coaching, comprehensive financial planning, and organization.
  • Implementing strategic planning for tax considerations, income and withdrawal strategies, savings for education, budgeting, estate planning, and reviewing insurance needs.
  • Managing portfolios with a focus on asset allocation, understanding risk tolerance, selecting investments, prioritizing goals, disciplined rebalancing, and conducting thorough reviews.

Whether your contacts have specific goals in mind or are uncertain about their financial questions, we’re here to help. We offer a 20-Minute “Ask Anything Session” to share our expertise directly with them. Just 20 minutes can open the door to invaluable insights. To arrange this, please get in touch with your financial advisor or visit our website at www.signaturewealthmn.com.

 Securities and investment advisory services offered through Osaic Wealth, Inc., member FINRA/SIPC.  Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.  Osaic Wealth does not provide tax or legal advice.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. We make no representation as to the completeness or accuracy of the information provided at these web sites. This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Past performance does not guarantee future results. Neither Asset Allocation nor Diversification guarantee a profit or protect against a loss during a declining market. They are methods used to help manage investment risk. Rebalancing can entail transactional costs and tax consequences that should be considered when determining a rebalancing strategy.


Copyright © 2023 Signature Wealth Management, All rights reserved.

Our mailing address is:
St. Louis Park office: 5775 Wayzata Blvd, Suite 360, St. Louis Park, MN 55416 | Phone: 952.388.6390
Duluth Office: 4815 West Arrowhead Rd, Suite 230, Duluth, MN 55811 | Phone: 218.525.9001
Elk River Office: 221 Main Street, Suite A, Elk River, MN 55330 | Phone: 763.633.1300