The Daily Brief
Donald Trump Inauguration speech Copyright Chip Somodevilla, Getty Images

The First 100 Days, At Least, the Markets Prefer Democrats

The markets are kinder to new Democratic presidents than Republican presidents, Kestra Financial recruits two wirehouse teams and Envestnet Tamarac boosts its Veo integration.

The stock market is usually kind to new presidents for their first few months in office, but more so to Democrats than Republicans. According to CNBC, since 1953, the S&P 500 has risen an average of 1.6 percent through the first 100 days of a presidency, posting gains 70 percent of the time. However, they dropped an average of 0.4 percent under the five GOP presidents. Under Democratic presidents, the market rose 80 percent of the time. Of course, past performance is never an indicator of future outcomes: "Dow 20,000 and the recent highs in the S&P 500 are just sitting there looking attractive, so this could very well be a case where the market rallies briefly, hits those targets, then falls. So, stay alert because volatility may be welcoming Donald Trump to the highest office in the land," wrote Jeffrey Saut, chief marketing strategist at Raymond James, in an Inauguration Day note to clients.

Kestra Snaps Private Wealth Advisors

Image via Facebook

Kestra Financial (formerly NFP Advisor Services) has recruited two former wirehouse teams to its Private Wealth Services subsidiary, Intrinsic Mutual Advisors and Stone Beacon Capital. New York-based Intrinsic is led by Stephen Luz, who managed $130 million in client assets previously with J.P. Morgan. Stone Beacon, based in Carlsbad, Calif. and led by Chad Collins, has $110 million in assets (pictured above). Previously, Collins was with Wells Fargo Clearing Services. “Kestra PWS offers the support, long-term commitment, and high quality, diverse services and products that will help me grow my business in an increasingly competitive environment,” Luz said, in a statement.

Tamarac Deepens Integration with TD

Envestnet Tamarac is deepening its integration with TD Ameritrade Institutional’s Veo platform. Advisors can now use Tamarac's rebalancing tool to submit trades directly to TD for straight-through processing. Tamarac also added the ability to view real-time account values and cash balances from TD within the rebalancing tool or from Advisor View, Tamarac's accounting and reporting application. The integration builds upon earlier improvements that gave advisors the ability to set Veo as the data source for holdings, transactions, and unrealized gains/losses reports in Advisor View. Stuart DePina, the group president at Envestnet Tamarac, said the integration will save advisors time and help them spend more time demonstrating value to clients.


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