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Jun 08 2020
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PPP loans Flexibility Act

Paycheck Protection Program Flexibility Act

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New Legislation Could Help Business Owners with PPP Loan Forgiveness Process After being approved by the senate early last week, House Bill 7010 was signed into law by the President on June 5th, 2020. This bill triples the amount of time allotted for small businesses to spend PPP loan proceeds and affords additional flexibility. The two primary provisions are: Borrowers now have 24 weeks to spend funds received under the PPP loan program – up from the original 8 weeks. The requirement to spend at least 75% on payroll and payroll related costs has been lowered to 60%. The bill…
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Jun 02 2020
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ppp loan

PPP Loan Forgiveness: Creative Planning Strategies to Consider

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On May 15th the SBA released the PPP Loan Forgiveness Application for the Paycheck Protection Program loans, including detailed instructions for borrowers on how to complete the application. Additional interim final rules were issued on May 22nd. Given that the program started on April 3rd, this week marks the eighth week and first opportunity for companies to submit their request for forgiveness. The application is made to your lender, who then has 60 days to determine eligibility for forgiveness. Amounts not forgiven are to be paid back at 1% interest over two years. Payments are deferred for six months. Unfortunately,…
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Apr 29 2020
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market recap

Spring 2020 Market Recap

Video
Stimulus, State Bankruptcy, and History-making Market Days - our team covers this and more in our newest Market Recap. Watch the full video here. Spring 2020 Market Recap from Wealthspire Advisors on Vimeo.   Wealthspire Advisors LLC is a registered investment adviser and subsidiary company of NFP Corp. This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied upon for accounting, legal, or tax advice. While the information is deemed reliable, Wealthspire…
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Mar 27 2020
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Recent Market Volatility and Satellite Fixed Income

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Our core Fixed Income managers invest in high credit quality sectors such as investment grade municipal and corporate bonds, U.S. Treasury securities, and Government Agency Mortgage Back Securities (MBS). However, many additional fixed income securities exist, primarily of lower credit quality. We call these securities and the managers that invest in them “satellite” fixed income. Two of the largest and best known of these satellite fixed income sectors include High Yield bonds and Bank Loans (aka Leveraged or Senior Loans). The first graph below shows the Yield on the High Yield Index vs. U.S. Treasuries, the “spread”. Please note that…
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Mar 20 2020
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Recent Market Volatility and Municipal Bond Markets

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You may have seen a couple of notes from us over the past few weeks discussing markets and COVID-19. To break up the tone and for additional perspective, we thought it worthwhile to relay what we are hearing from our investment managers. Below are just a couple observations from the many conversations we are having with municipal bond managers about recent volatility in the investment grade muni space. The response was fairly consistent across the board and broke down into liquidity, valuation, and credit quality. Liquidity One manager mentioned that prior to a few weeks ago, municipal bond mutual funds…
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Mar 11 2020
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markets coronavirus

Markets and the Coronavirus: Frequently Asked Questions

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Since the end of February, we have seen news around the Coronavirus, which was first discovered in China in early January, continue to emerge at a fast and furious pace. As cases of the virus have been diagnosed around the world, U.S. and global markets have responded sharply to what they view as a potential slow-down related to spread of the disease. Several weeks ago, market observers generally laid out a simplistic 3 scenario model from best to worst case in determining how the impact from the Coronavirus would transpire. While previously those observers were leaning in a more optimistic…
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Feb 10 2020
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market recap

Winter 2020 Market Recap

Video
In our Winter 2020 Market Recap, Chief Investment Officer Michael Moriarty and Chris Maxey of the Investments Team address the unusual market performance of 2019 and discuss the looming elephant (or donkey) in the room – the upcoming 2020 election. Winter 2020 Market Recap from Wealthspire Advisors on Vimeo.   Michael Moriarty: We're coming off of a very fun Q4 and a very fun 2019. Chris Maxey: I think, somewhat unexpectedly, we saw that 2019 was really a fantastic year. If you look at – just call it a simple 50/50 portfolio – it was the best year that we've…
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