Monthly Archives: August 2019

Tom Petty: Beneficiaries Who “Won’t Back Down”

Perhaps the most appropriate musical ode to disgruntled estate beneficiaries that I’ve ever heard is the late Tom Petty’s I won’t back down. This track was the first single off of his 1990 album, Full Moon Fever, and has been a fan favorite since the day it was released. The single opens with the narrator defiantly telling the world, “I won’t back down, no I won’t back down. You can stand me up at the gates of hell but I won’t back down.” One of the more frustrating things about the time I spent practicing law was dealing with beneficiaries who must have constantly had Tom’s song playing in the back of their heads as they wasted attorney’s fees trying to settle some ancient score with a sibling, stepchild, or other beneficiary.    Read more »

Are Target-date Funds Going Global?

The United States stock market currently accounts for about 55 percent of global market cap. While this represents the largest percentage of the world’s market cap held by a single country, it leaves a full 45 percent in markets outside of the U.S.  The U.S. stock market is also the most expensive in the world, with a current (as of June 30, 2019) P/E ratio of 16.7x compared with the global P/E ratio of 13.2x. Though it accounts for 55% of global market value, the U.S. stock market actually only represents about 17 percent of the world’s stocks: approximately 5,000 U.S. companies versus 25,000 non-U.S. companies. Read more »

Pitfalls that Plague Investment Committees

Investment committees serve as a common structure for the decision-making responsibility in overseeing assets, based on the idea that decisions made by a group of people will be better than individual decisions, particularly when it comes to the complexities of investing. But research shows that it takes more than a collection of people to make wise decisions. Why do some committees generate better investment outcomes than others; is it because they are just better investors, or are there group dynamics at work that can systematically rob a committee of its ability to make strong decisions? Here we discuss some of the pitfalls committees fall prey to that can undermine their long-term outcomes. For more information, read Arnerich Massena’s white paper, Investment Committees: More than the sum of their parts. Read more »

Arnerich Massena Takes Third Place in Columbia Gorge Community College Foundation 20th Founder’s Cup Golf Tournament

The Columbia Gorge Community College Foundation hosted its 20th Annual Founder’s Cup Golf Tournament on Saturday, Aug. 3 at Indian Creek Golf Course in Hood River, Oregon. Arnerich Massena was a proud sponsor of the event, and especially proud that our team placed third in the tournament! Arnerich Massena team members Ryland Moore, Karl Hausafus, Luka Arnerich, and Lauri Hausafus made a terrific showing; not only did they win third place net, but Lauri also had the longest drive for women! See photos below. Read more »

Plan Sponsor Council of America Provides 401(k)/403(b) Campaign Materials

Getting participants engaged and educated is a critical part of sponsoring a retirement plan, and the Plan Sponsor Council of America is here to help. The organization has been providing campaign materials to members and non-members to help bring awareness to retirement savings and assist plan sponsors in educating their participants about financial wellness. This year’s campaign, The Retirement Game, brings an element of fun to retirement planning education, with football-themed materials. PSCA member Arnerich Massena assisted in the development of the campaign materials. Read more »