The financial markets are entering 2022 much like they did the beginning of 2021: uncertain. The newest uncertainty is perhaps the most significant: inflation – which is why central banks are now pivoting away from an “easy money” regime. Other issues will also be in investors’ sights: COVID, consumer excess savings and market concentration, among others. But earnings growth will matter above all else since it’s the end-result of every uncertainty and controversy. Markets will take notice if those earnings figures need to be revised lower… or higher from current consensus.
Uncertainty exists on the tax front as well. Although Senator Joe Manchin (W.Va.) stunned fellow Democrats by announcing in late December that he would not vote for the Build Back Better (BBB) Act, democrats are now working to restructure their tax and spending bill around a narrower set of priorities. In our view, a revised bill will likely retain at least some of the proposed tax hikes from BBB.
Join Chief Executive Group on Thursday, January 27, 2:00 – 2:50 pm ET to glean insights from AllianceBernstein on financial projections for 2022, including inflation, GDP, interests rates and stock market returns. We will also summarize BBB’s tax proposals that are likely to be part of a revised bill and discuss planning strategies to consider implementing in advance of any tax law changes.
*This material contains the opinions of the speaker(s), but not necessarily those of AllianceBernstein or its affiliates and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Bernstein does not provide tax, legal, or accounting advice. In considering this material, you should discuss your individual circumstances with professionals in those areas before making any decisions.
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Robert W. Dietz is a Vice President and Director in Bernstein’s Wealth Strategies Group and is based in
the firm’s Minneapolis office. He works closely with high-net-worth families and individuals and their professional advisors on a variety of complex investment planning matters, including pre-transaction planning, multigenerational wealth transfer, retirement planning, philanthropy and diversification planning for holders of concentrated portfolios. Robert joined the firm in 2006 and began working with the Wealth Strategies Group in 2011, serving as an analyst, senior analyst and associate director before becoming a director in 2017. He earned a BA, cum laude, in finance from Augsburg College and is a Chartered Financial Analyst (CFA) charterholder. Robert is a member of the CFA Society of Minnesota and the Twin Cities Estate Planning Council.
Brian Haloossim is a Senior Managing Director and has been overseeing the West Coast private client practice since 2008. He joined the firm in 2003 as a financial advisor in the Los Angeles office, providing investment planning and management for high-net-worth individuals and families, closely held business owners, and nonprofit groups, and was named Principal in 2007.
Previously, Haloossim was the assistant director of development at Campbell Hall, where he was also a member of the endowment finance committee. Prior to that, he was head basketball coach at a college preparatory school and served as assistant men’s basketball coach for Division I California State University, Northridge. Haloossim earned a BA from the University of California, Los Angeles, and an MBA from Pepperdine University.
Matthew D. Palazzolo is a Senior Investment Strategist based in Bernstein’s New York office. He was named a National Managing Director in 2017. In addition to his role as Senior Investment Strategist, he is also responsible for Bernstein’s market and investment-related communication and is a member of Bernstein’s Private Client Investment Policy Group, which provides asset allocation, investment and risk-management advice for high-net-worth clients, endowments and foundations. Prior to joining the firm in 2010, Matt was with Inverness Counsel, where he served as director of research, portfolio manager and a member of the investment committee. His responsibilities included overseeing equity research and assisting in managing portfolios on behalf of the firm’s high-net-worth clients and institutional investors.
Previously, he was part of a team that conducted equity research at Prudential Equity Group, where he focused on the household and personal care sector across all market capitalizations. As part of the team, he interacted with corporate management of companies; helped develop recommendations on those companies’ stocks; and communicated those recommendations to the firm’s institutional long-only and hedge fund clients. Matt earned a BA in English and sociology/anthropology from Colgate University and an MBA in corporate finance from the Kenan-Flagler Business School at the University of North Carolina, Chapel Hill. He is a Chartered Financial Analyst charterholder. Matt is a member of the CFA Institute and the CFA Society New York.
Joseph Septimus is a Principal and Financial Advisor in the New York office of Bernstein. To his current practice, he brings his prior career as a former tax and trusts & estates lawyer. With this unique combination, he assists his clients in identifying and solving complex issues attending the blessing of wealth. These issues include (i) income tax and estate tax planning, (ii) succession of family wealth, (iii) charitable giving, and (iv) money management. Joseph’s clients include business owners, family offices, professional practices, and foundations who put an emphasis on deep discovery and planning and rely on him to consistently stay ahead of their planning needs.
Prior to joining Bernstein in 2014, Joseph headed the trusts & estates practice at Kostelanetz & Fink. Before that, he worked for seven years as an attorney in Sullivan & Cromwell’s tax department. Joseph earned a JD, summa cum laude, from Brooklyn Law School, graduating first in
his class. He currently teaches Estate & Gift Tax at Brooklyn Law School as an adjunct professor. He was also a member of the executive committee of the New York State Bar Association’s tax section, and former co-chair of the section’s trusts & estates subcommittee. In addition, Joseph is a cofounder of KZM, an organization that has raised and distributed since inception over $5 million to assist impoverished
families in the New York area.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
