• 5 Questions on 529 Accounts

  529s have been an important vehicle for families saving for college for a long time. During the current environment, are they still a good option? When should you deposit money into the account? Do the strategies for the investments vary? Join Steve as he walks you through the ins and outs of 529 accounts. 

  
  
  

• Regulation Best Interest Documentation 

  A couple of months ago, the majority of our clients received a booklet in the mail from Raymond James Financial Services about Regulation Best Interest. Essentially, the new regulation requires us to act in a fiduciary standard. To comply with regulations, Raymond James is sending a separate booklet to our clients. If you would like to receive this booklet electronically, or have any questions relating to Regulation Best Interest, we encourage you to reach out to us at 615.370.4040. 

  In addition, we are bound to act in a fiduciary standard by Barry and Steve's CFP® designation.

   

• GDP Falls 32.9% Annualized in the Second Quarter

  On Thursday, the Commerce Department released its first reading of gross domestic product from April to June. While beating expectations, the drop is still the largest ever. Although the numbers paint an ugly picture, the economy has started to recover. Compared to April, retail sales were up 27% in June. In addition, industrial production has rebounded 6.9% and housing starts have risen 27%. There is no doubt that we have a long road ahead to get back to where we were before COVID-19, but we believe we have seen the worst of this crisis. 

• Kodak The..... Pharmaceutical Company?

  On Tuesday, Eastman Kodak Co. won a government loan to help produce ingredients used in key generic medicines to fight COVID-19. Shares of Eastman Kodak Co. have risen 2,441% this week, sending it's market valuation to almost $2 billion, according to Yahoo Finance. Kodak built a giant photography business that was devastated by the switch to filmless cameras. The government loan was the first of its kind under the Defense Production Act and is meant to speed production of drugs in short supply. 

• NBA Returns 

  The NBA finally returned to action on Thursday after a 5-month hiatus. The rest of the season will be comprised of 8 regular-season games and the playoffs. Currently, 22 teams battling for 16 postseason spots. The season will be played at the Walt Disney World Resort in Florida, where the NBA has implemented a "bubble" to limit the spread of COVID-19. The NHL also returns this weekend, with the Nashville Predators opening their postseason series against the Arizona Coyotes on Sunday.

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation.

* Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors, firms/publications or opinions of any of the quoted authors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
This material is being provided for information purposes only and is not a complete description, summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct or continue.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.*

Investing involves risk and you may incur a profit or loss regardless of strategy selected.

All funds held at Raymond James Bank and participating banks in the Bank Deposit Program are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. Additional information can be found at
fdic.gov or by calling 877.ASK.FDIC (877.275.3342). Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank, member FDIC. Unless otherwise specified, products purchased from or held at affiliated Raymond James Financial, Inc. companies are not insured by the FDIC or any other government agency, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank, and are subject to investment risks, including possible loss of the principal invested.

Dividends are not guaranteed and must be authorized by the company's board of directors.