In today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss the current economic landscape. The global economy is uncertain due to the war happening in the Middle East, rising interest rates driven by the Fed’s efforts to lower inflation, and the dysfunction in the U.S. Congress related to budget resolutions. The 10-year U.S. Treasury yield reaching a 16-year high of 5% also magnifies the risk that the higher rates environment po...
Oct 24, 2023•17 min•Season 1Ep. 56
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites CEO Jeff Sarti to recap the Investor Symposium and looks ahead to Morton’s future. Firstly, Jeff and Chris address the Israel-Hamas war and its potential impact on global markets. Jeff emphasizes the importance of diversification in building resilient portfolios to weather unforeseen events like this. Last Thursday, we delved into the different funds and strategies that strengthen and diversify our clients’ portfolios at the In...
Oct 17, 2023•19 min
In this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investment Sasan Faiz to discuss Q3 and how investors can try to protect themselves in unpredictable market conditions. Q3 saw a struggling market with the S&P 500 down 3.2% and MSCI EAFE down 4%. Bonds have also faced challenges as they were down 3.2% for the quarter and 1.2% for the year. This is because higher interest rates have had a negative impact on equities and bonds. Sasan and Chris agree that...
Oct 03, 2023•13 min•Season 1Ep. 54
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Mike Rudow, his very first guest, to celebrate the podcast’s one year anniversary. Chris reflects on this accomplishment and feels grateful that he and his guests have been able to deliver valuable financial knowledge to listeners for a year. Chris and Mike also discuss the Investor Symposium and the topics they are excited to listen to, like Battle of the Spouses, Current Me vs. Future Me, and Possibilities &...
Sep 26, 2023•15 min•Season 1Ep. 53
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Brian Farwell, Branch Manager at CrossCountry Mortgage, to discuss residential real estate and interest rates. The single-family home market remains resilient due to limited supply and high demand. It’s an expensive market for buyers, but Brian says it may be best to buy now rather than wait for prices to decrease significantly, as that is not likely to happen. Brian also thinks in the next couple years, interest rates may s...
Sep 19, 2023•18 min
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director at KCB Real Estate Megan Pautler-Gutnikov to discuss KCB Real Estate and their investment strategies. KCB is a buy-and-hold control investor in a wide variety of income-producing property types. We have felt confident in our partnership with KCB because of their long-term, disciplined, and patient outlook. They work with operating partners with a strong track record and prefer assets they can hold indefinit...
Sep 12, 2023•17 min•Season 1Ep. 51
On this episode of THE FINANCIAL COMMUTE , host Chris Galeski welcomes Wealth Planner Brian Standing. They discuss potential complications that may arise when a parent or grandparent helps their child buy real estate. Firstly, it is critical to decide if the financial assistance offered is considered a gift or a loan. Gifts may be subject to gift taxes, and there may be income tax consequences for loans. Furthermore, it is important to ensure your child is financially stable enough to maintain t...
Sep 05, 2023•21 min•Season 1Ep. 50
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Beau Wirick to discuss assets that may or may not be beneficial to inherit. Chris and Beau agree that a Roth IRA is the best type of account to leave heirs as money grows tax-free, and withdrawals are tax-free. Brokerage/non-retirement accounts are also beneficial, as the heir can sell shares without paying capital gains taxes on them. Traditional IRAs may not be as advantageous because distributions are taxable,...
Aug 29, 2023•17 min•Season 1Ep. 49
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski and Jeff Sarti, our CEO, discuss our investment philosophy and upcoming Investor Symposium. Although many investment firms place an emphasis on stocks and bonds, other assets tend to be more resilient in volatile times. Jeff says we are willing to look different than the rest of the industry because we believe our focus on the alternatives space is in our clients’ best interest. Clients will be able to meet fund managers, learn more ab...
Aug 22, 2023•14 min•Season 1Ep. 48
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Patrice Bening to discuss recent changes to student loan repayment plans. It is important to note these changes impact federal student loans, not private loans. The Department of Education started notifying eligible borrowers (those who have been on repayment plans for 20-25 years of qualifying months) on Friday, July 14. The Department of Education will continue to notify eligible borrowers who have reached t...
Aug 15, 2023•14 min•Season 1Ep. 47
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Kevin Rex to discuss Fitch Ratings’ downgrade of U.S. debt from AAA to AA+. Fitch warned that the “rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance.” Kevin and Chris agree that this downgrade has been a long time coming and could hopefully bring about some reform. Chris sa...
Aug 08, 2023•12 min•Season 1Ep. 46
On this episode of THE FINANCIAL COMMUTE , Wealth Advisor Mike Rudow steps in for Chris Galeski and invites Managing Director of Investments Sasan Faiz to discuss China’s economy. China's economy has been growing at a high rate of almost double digits or high single digits for the past 20-25 years, mainly driven by investment and infrastructure projects. However, now that China has reached late-stage urbanization, their economic growth is slowing due to several headwinds like high unemployment r...
Aug 01, 2023•16 min•Season 1Ep. 45
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Patrice Bening to discuss tax efficient strategies. Retirement accounts: Patrice reminds listeners to maximize retirement accounts like a 401(k) or 403(b) to optimize tax-deferred growth. Chris says when one is younger and does not have the professional success yet to pay more in taxes and has more time to invest, it may make more sense to contribute to a Roth account. Treasury and municipal bonds: Patrice encour...
Jul 25, 2023•14 min•Season 1Ep. 44
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski and Wealth Advisor Mike Rudow share their takes on some points in a CNBC article about financial “rules” people should abide by. Firstly, the article suggests readers avoid taking on debt for college. However, Mike says sometimes, taking on debt is the only route students can take. This is okay if the student is responsible and has the right personality to successfully finish college and eventually pay their debt off. Secondly, the ...
Jul 18, 2023•17 min•Season 1Ep. 43
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss trends and headlines that have set the landscape for the first half of 2023. Although there have been slowdowns in some areas of the economy, the S&P 500 is up almost 17% for the year. However, Sasan says the S&P’s growth is not as steep as it looks and is mostly due to a handful of companies that are up almost 58% for the year, like Apple, NVIDIA, Tesla, Google, Mi...
Jul 11, 2023•18 min
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Rich Gammill, Managing Partner of Proterra Investment Partners, an alternative investment firm focused on private equity investments in the natural resource sectors of agriculture, food, metals, and mining. Proterra originated in the food and agricultural space under Cargill. After splitting from Cargill, they partnered with Farm Credit, an independent federal agency, to create a unitranche lending solution for food busines...
Jun 30, 2023•17 min•Season 1Ep. 41
On this week’s episode of THE FINANCIAL COMMUTE, Scott Taylor, CEO of Artes Capital, joins Chris Galeski to discuss private lending and real estate. Many clients wonder why someone (who is qualified to borrow from a bank) would use a private lender when the interest rate is lower at banks. Sometimes, the time it takes to secure a loan from a bank is the same or more than the time it takes to build a new real estate project. Scott says many clients prioritize certainty of execution and timeliness...
Jun 27, 2023•25 min•Season 1Ep. 40
On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski welcomes Justin Mitchell, Founder of Realworld Asset Group, to discuss investment opportunities in real estate. Firstly, Justin and Chris review SB 9, an act that was passed in efforts to improve housing supply issues and affordability in California. This act allows homeowners to create up to four homes on an existing parcel. Therefore, real estate investors can turn a lot that is large enough into multiple rental units. Justin rec...
Jun 20, 2023•18 min•Season 1Ep. 39
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Director of Investments Sasan Faiz to discuss current trends and investment opportunities. Sasan believes there are many growth opportunities in credit and there may be higher return in credit than equities. Even though the stock market is up nine percent, only a handful of companies are driving the market upwards like Microsoft, Apple, NVIDIA, etc. If inflation and deglobalization continue and prices increase, compani...
Jun 13, 2023•16 min•Season 1Ep. 38
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Kevin Rex to discuss how time has decreased the value of money. Chris and Kevin agree that many products and services have gotten much more expensive over the years. For example, food and real estate have generally increased in price over time- and the best way to combat inflation is to invest with a long-term mindset. Because interest rates have increased, many people have been investing in treasuries which can ...
Jun 06, 2023•13 min•Season 1Ep. 37
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Advisor Beau Wirick to discuss our new service offering, Modearn. Beau says while ultra-high-net-worth clients are the typical demographic served by wealth management firms, the financial services industry is overlooking a crucial segment of prospects: NextGen individuals who are still building their wealth, careers, and families. Modearn is here to bridge this gap. Regularly, Modearn clients will be in touch with the...
May 30, 2023•9 min•Season 1Ep. 36
On this episode of THE FINANCIAL COMMUTE , host Chris Galeski and Chief Investment Officer Meghan Pinchuk discuss the debt ceiling. What is the debt ceiling? It is a legislative limit on the amount of national debt the United States government can incur. The government hit the debt ceiling of $31.4 trillion in January, but the Treasury Department provided the government with more cash while it figured out its next steps. Currently, Congress is trying to decide which spending cuts and requirement...
May 24, 2023•13 min•Season 1Ep. 35
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Chief Compliance Officer Menachem Striks to discuss cybersecurity, how we protect our clients’ information and how you can defend yourself. Menachem says we constantly keep our networks and systems updated. We work closely with a third-party partner to run diagnostic tests, keep an eye out for suspicious activity and solve technical issues. Furthermore, we run monthly phishing tests to make sure employees know not to click o...
May 16, 2023•15 min•Season 1Ep. 34
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes back CEO of Morton Wealth, Jeff Sarti. They discuss recent bank runs as First Republic failed early last week, and PacWest confirmed last Thursday that it is exploring “strategic options” after its share price fell more than 50%. Jeff says banks have a fundamentally flawed business model as depositors can leave at any time. Chris also notes that many banks have been locked into long-term bonds or mortgages at low fixed inte...
May 08, 2023•14 min•Season 1Ep. 33
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Managing Partner of Keyes Real Estate, Brad Keyes, to discuss the real estate market in Los Angeles in the wake of heightened interest rates and the Measure ULA tax. Brad says residential real estate in Los Angeles is resilient because there is a shortage of inventory, this city is affluent, and people are coming to terms with the fact that interest rates are around 5-6%. Although this is an obvious increase from the zero perce...
May 02, 2023•17 min•Season 1Ep. 32
On today’s episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Wealth Planner and Estate Attorney Brian Standing to discuss the Measure ULA tax that went into effect for the City of Los Angeles on April 1, 2023. This new law has increased tax from 1% to 4% on the sale of any real estate in the City of LA that is at least $5 million in gross value. If the property sells for over $10 million, the tax will increase to 5.5%. This includes any type of property (residencies, commercial, etc.)...
Apr 25, 2023•15 min•Season 1Ep. 31
Host Chris Galeski invites Client Manager Thao Truong to THE FINANCIAL COMMUTE. They discuss aging in place, which refers to aging in one’s home instead of moving to another facility like an assisted living residence. Thao is a part of Herself, a group within Morton that strives to empower women to make the best decisions for themselves and their families while educating them about finance. Thao says many elders may find more comfort in staying in their own residence instead of moving as they ar...
Apr 18, 2023•16 min•Season 1Ep. 30
On today’s episode of THE FINANCIAL COMMUTE , host Chris Galeski invites Wealth Advisor Joe Seetoo to discuss how business owners can optimize their organizations and protect their enterprises amidst the banking crisis. Joe says business owners should understand their company will have more value if it is “transferable” rather than a “lifestyle business.” A lifestyle business is one where the business owner needs to be present for the company to function. If a company can run as its own entity w...
Apr 10, 2023•12 min
On this episode of THE FINANCIAL COMMUTE , host Chris Galeski welcomes Michael Klein, CEO of Freedom Financial Funds, a real estate lending fund. Freedom Financial focuses on lending to real estate professionals who add value to real estate projects on the west coast of the United States. For example, some borrowers are professionals who flip vacant office buildings into apartment complexes. Over the past 14 years, Freedom Financial has originated over 400 loans totaling over $2 billion and prio...
Apr 04, 2023•20 min•Season 1Ep. 28
On this episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Portfolio Management Analyst Hunter Daniel to discuss ways to protect your money in the wake of recent bank runs and bailouts. According to Hunter, the risk around the banking system today is much less than 2008 because the default rate on the mortgage rate is not as high as it was before the Great Recession. There are also more systems in place to prevent mass failures, like the Bank Term Funding Program, which allows banks to...
Mar 28, 2023•14 min•Season 1Ep. 27
