Reporting by Greg Debski, CFA
For as long as we’ve been in operation, NGA has been on a continual quest to get better. The extra steps we take in many aspects of operating the business help us improve in every facet of our practice, from how we manage portfolios to equipping us to provide a higher standard of service to our client families. An example of “extra steps” is the research travel we complete. Our international journeys are frequently discussed and are typically laden with large numbers of site visits and meetings, volumes of summary data for our internal use, and overview commentary for sharing with our broader audience. Lesser known is the additional “local” travel completed throughout the year. While domestic research trips receive much less fanfare, the value-add of the more routine “boots on the ground” work is undeniable and meaningfully contributes to our goal of getting better.
An additional area of improvement to the firm’s service offering has evolved over time and arisen as a side-effect of one of our most sincere goals. Our primary objective, often stated explicitly but not always, is to provide such an outstanding collection of services and investment management to our client families that the relationship lasts a lifetime. We’re proud to have achieved the status of trusted advisor for such a wonderful group of clients. Many times, that trust translates to NGA being one of the first calls made when a parent, spouse, or family member passes away. Granted, we spend significant amounts of time brainstorming and assisting with gifting strategies, estate planning, college and retirement savings, and the like. However, we’ve come to find that the most impactful, helpful, and meaningful time to simply know what to do regarding financial and estate matters is during the weeks immediately following the passing of a loved one. If there was one area of our firm’s service offering where “getting better” has the biggest impact at the most crucial time, this is near the top of the list. The entire space of estate planning and administration is complex, to say the least, and while we have no intention of actually practicing law or drafting legal documents, continuing to get better at providing clear, simple, and actionable guidance at the most difficult times is a noble addition to our skillset.
As we approach the end of another “season” in Naples, with the hustle and bustle of client meetings, tax season, and out of town visitors reaching their crescendo before the impending slowdown (and warming up) that the month of May brings, we keep an eye on the horizon for any big changes or opportunities that need to be adjusted for or learned from. Things never really slow down at NGA; our focus simply shifts to the next area of continued improvement!
2 Fujioka, Toru, and Sumio Ito. “Japan: Boj Ends World’s Last Negative Rate with First Hike since 2007.” Bloomberg.Com, Bloomberg, 19 Mar. 2024, www.bloomberg.com/news/articles/2024-03-19/boj-ends-massive-easing-program-with-first-rate-hike-since-2007.
3 Statista. “Japan: Home Loan Borrowers by Interest Rate Type 2023.” Statista, 6 July 2023, www.statista.com/statistics/1297349/japan-home-loan-borrower-distribution-by-interest-rate-type/.
4 Trivedi, Upmanyu, and Katharine Gemmell. “A $5.6 Billion Bitcoin Fraud Case Snares UK Fast Food Worker (1).” Bloomberg Law News, 21 Mar. 2024, news.bloomberglaw.com/financial-accounting/a-5-6-billion-bitcoin-fraud-case-snares-a-uk-fast-food-worker.
The views expressed in this material are the views of Greg Debski, CFA through 3.31.24. The views are subject to change based on market and other conditions. All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. This is not an offer or solicitation for the purchase or sale of any security and should not be construed as such. The information provided is for illustrative purposes only and is not intended to be, and should not be interpreted as, recommendations to purchase or sell securities. Naples Global Advisors, LLC is governed under the Securities and Exchange Commission as an Investment Advisor under the Investment Advisors Act of 1940. All investments contain risk and may lose value.