The MW Advisor Newsletter - October 2022

Lessons From an 18-Year-Old

By Seth Streeter, MS, CFP?, CDFA?

Chief Impact Officer and Founder

“In youth we learn; in age we understand.” - Marie von Ebner Eschenbach

Last month, I had the opportunity to celebrate my son’s 18th birthday. Beyond sharing a fun celebration with his friends, we discussed how this was a milestone birthday, officially welcoming him into adulthood.

Now that my son is no longer a minor, he can legally vote, enlist in the military, buy a lottery ticket, open a credit card, get married, get a tattoo, or even adopt a child, all without parental permission. As his parent, I am hoping from the list above he only employs his voting privileges, at least in the near term. With the turn of the calendar, the wheels are in motion for him to chart his own course in life with less parental guidance.

With this said, he is still an 18-year-old boy who loves to play in many forms. Whether it is surfing, beach or indoor volleyball, tennis, ping pong, piano, dancing, basketball or hammocking with his friends, he finds pure joy through movement, music, and games. Friends are plentiful, and they take time to celebrate each other at their respective sports or musical endeavors. Laughter is the norm, and each day is about finding adventure beyond their academic, sports, music, work, and student club responsibilities. And don’t get me started on their mastery of food consumption. Simply stated, they know how to make it disappear!

And yet, as seniors in high school, they feel the looming pressures of college applications, and the huge impending transition from being at the top of their school’s hierarchy to college undergraduates. This new life chapter will bring vast changes, including making new friends, living away from home, and developing time management skills to handle greater academic, club, and social responsibilities.

This transition reminds me of those who are embarking on their own significant evolution from work to retirement. After years of dedication, we may find ourselves at the top of our careers, with competence and familiarity in these well-honed roles. Our accustomed “busyness” of endless emails and a packed calendar of meetings rarely affords us the time to contemplate life beyond work. But like college to the high school seniors, a new landscape awaits around the corner in the name of retirement.

In a transition into retirement, we can take notes from our 18-year-old teachers and embrace more play, social connections, laughter, and adventure into our lives. We have put in the time, diligently saved, and now we can envision a life with greater ease, balance, and play. Giving back to others will likely also become an important part of our retirement chapter. This may be volunteering with nonprofits, taking care of grandchildren, or mentoring local students who can benefit from the sage wisdom gained from elders they unknowingly mentored themselves. Whatever your next transition holds, I hope you find your inner teenager!

PS: Speaking of regaining our youth, our next INSPIREDtalk with Dr. Darshan Shah will highlight the latest science and practices to uplevel our health and even reverse our biological age. Please join us to learn how you can gain more vitality and longevity into your years ahead!

Firm Announcements

Mission Wealth Welcomes Green Valley Wealth Management

Mission Wealth is pleased to announce our recent merger with Green Valley Wealth Management, a wealth management firm that operates out of Greensboro, North Carolina and oversees approximately $90 million in assets under management. Green Valley Wealth Management's talented team strengthens Mission Wealth's existing client service experience in North Carolina. The partnership establishes a location in the southeastern region, allowing Mission Wealth to better serve the needs of future clientele in this area.

"We are thrilled to welcome the entire team at Green Valley Wealth Management to Mission Wealth. From our very first conversation with Phyllis, Susan, and Beth, we knew their team's passion for comprehensive wealth management, investment counsel, and community involvement was a perfect fit. The addition of Green Valley will add to our existing presence in the Southeast and allow us to better serve the growing needs of our clientele in the region. As we have gotten to know each other better over recent months, it has solidified my respect for what Green Valley has built, confirmed our strong cultural match, and reinforced our collective belief in the importance of continuously enhancing the client experience." - Chief Executive Officer and Managing Partner, Matthew Adams

For more information on this merger, please read our recent article. Please join us in welcoming Phyllis, Susan, and Beth to our Mission Wealth team.

Recent Awards & Accolades

Mission Wealth is honored to announce our ranking in Barron’s Top 100 RIA Firms in the nation. This is our second consecutive time earning our place on this prestigious list, increasing our ranking to #89 from #100 in 2021. Barron’s 7th annual ranking of impressive, independent advisory companies is based on assets managed by the firms, technology investment, team diversity, succession planning, and other metrics.

Great Place to Work? and Fortune magazine have honored Mission Wealth as one of the 2022 Best Small and Medium Workplaces? in Financial Services and Insurance. This is Mission Wealth’s third consecutive time being named to this list, coming in this year at #17 out of 50 companies. Earning this spot means that Mission Wealth is one of the best companies to work for in the country.

Women's Choice Award? has named Mission Wealth a 2022 Best Company to Work For, receiving recognition as a Best Workplace for Women and Millennials. This award recognizes company culture and policies, including work-life balance and female representation at every level.

Inc. revealed that Mission Wealth is No. 3858 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

Pacific Coast Business Times honored Mission Wealth as one of the 2022 Top 50 Fastest Growing Companies in the Tri-County Area. This is Mission Wealth's seventh consecutive time being named to this highly competitive list, coming in this year at #19 out of 50 companies.

Mission Wealth is pleased to announce that we have been named one of America’s Top RIAs from Financial Advisor Magazine. The firm ranked #109 in FA Magazine’s 2022 RIA Survey & Ranking, which lists the top Registered Investment Advisor firms in the country. Out of 534 firms that made the RIA Survey & Ranking, Mission Wealth placed in the top 20% of the list at #109 with a 29% growth in assets and 24% change in number of clients from 2020-2021. 

Mission Wealth is proud to be Certified? by Great Place to Work? for the third year in a row. This award is based entirely on what current employees say about their experience working at Mission Wealth. This year, 100% of employees said it’s a great place to work – compared to the average U.S. company at 57%. 

We invite you to view our full recognitions and rankings disclosures on our Awards page.

Join Us for the Next INSPIREDtalk? with Dr. Darshan Shah

At Mission Wealth we do more than manage wealth and investments. When designing a comprehensive financial plan for our clients, we believe that ALL aspects of life should be considered in order to build an effective, meaningful, and fulfilling life plan.

In our next INSPIREDtalk, you will learn how health is wealth with renowned surgeon, published author, and Founder and CEO of Next Health, Dr. Darshan Shah.

Please join Dr. Darshan Shah and Seth Streeter on Thursday, November 3rd at 9:00 am PT, as we discuss how to utilize modern research and health practices to take your health to the next level and prolong your lifespan.

This free event is open for all to attend, but registration is required. For more information and recordings on our past INSPIREDtalk? events, please visit our website.

Mission Wealth and CFP Board Center Partner to Launch Scholarship Program

The CFP Board Center for Financial Planning and Mission Wealth have partnered to offer this scholarship in furtherance of the mission to create a more diverse and sustainable financial planning profession, so that all Americans can have access to competent and ethical financial planning advice.

“Mission Wealth is thrilled to create opportunities for individuals of diverse backgrounds to pursue a financial planning career and help our clients navigate every stage of their financial life,” said Mission Wealth Founder and Chief Impact Officer Seth Streeter. â€œThe CFP? certification is a critical tool in our mission to help our clients enjoy financial independence, and we are proud that the Mission Wealth Scholars program will serve as a launchpad for the careers of diverse CFP? professionals.”

The scholarship awards up to $5,000 per student seeking to complete an undergraduate-level or a certificate-level CFP Board-Registered program, either of which would qualify the student to sit for the CFP? exam. Please visit our website to learn more about the scholarship program.

New Team Members

Mission Wealth is excited to announce that we have added several new members to our firm. To learn more about each team member, please click the names below to view their bio pages.

Advisory Team

• Phyllis Lancaster - Partner and Client Advisor
• Susan Rizzi - Partner and Client Advisor
• Cole Haddock - Client Advisor Associate
• Jesse Pantano - Client Advisor
• Jared Sweeney - Client Advisor

Operations Team

• Beth Barton - Client Service Representative
• Emilee Ha - Operations Associate

Human Resources Team

• Blanca Vega - Human Resources Specialist

Mission Wealth Expands East Coast Presence with Four New Office Locations

Mission Wealth has opened two new offices in Florida. The Fort Lauderdale and Tampa locations have established our footprint in Florida as we work alongside families in and around this diverse and growing region. 

We are delighted to also open a new office in historic Boston, Massachusetts. This location is located in the heart of downtown Boston’s Post Office Square and Financial District. We look forward to creating many new relationships in the New England area.

The merger with Green Valley Wealth Management added our fourth new location on the east coast in the beautiful city of Greensboro, North Carolina. "I am honored to merge with an organization that provides caring advice to empower people to live their life’s dreams. This combination of care and technical and investment advice will benefit our existing and future Greensboro clients." â€“ Phyllis Lancaster, Partner and Client Advisor

We are proud to be able to serve clients from all of our 26 offices nationwide. To learn more about our offices, please visit the locations page on our website.

Team Member Spotlight

Please join us in congratulating Mission Wealth Portfolio Manager Emil Nazaretyan to the 2022 Pacific Coast Business Times Top 40 Under 40 list.

Emil Nazaretyan has over 14 years of global multi-asset investment management experience for institutional and private clients across portfolio management, trading, research, and investment management. He has worked for premier investment firms in Santa Barbara and Los Angeles within accounting and investment management, gaining experience both domestically and internationally in China. Emil holds a Bachelor of Science in Business Administration/Finance from the University of California Riverside and spent a semester studying business and economics at Fudan University in Shanghai, China.

"I’m grateful for the opportunities Mission Wealth has given me. This award is as much a testament to Mission’s mentorship and belief in my abilities," said Emil."Without their leadership, this wouldn't have been possible."

The 40 Under 40 special report has proven to be a sustainable way to recognize up and coming leaders in the community. Many prior winners are earning promotion to the executive ranks at regional companies and nonprofits and this year. We expect this class to follow in those footsteps. Every year, the selection process becomes more and more competitive, with twice as many nominations as they select for award recipients. 

Congratulations, Emil! The feeling is mutual. We feel fortunate to have you as part of our team! 

Client Corner: What is Tax Loss Harvesting?

By Kieran Osborne, CFA, Partner and Chief Investment Officer

We've all heard the term tax loss harvesting at some point; but what does it mean to tax loss harvest? Is there a silver lining to a down market? Click the video to watch, or read the text beneath it to learn more.

At Mission Wealth, we proactively tax-loss harvest across our client’s taxable accounts where suitable and when opportunities arise. Tax-loss harvesting can provide significant tax savings and allows us to enhance the after-tax returns for our clients.

What is tax-loss harvesting?

Tax-loss harvesting is a trading method applied to taxable accounts – such as an individual account or a Trust â€“ whereby we sell an investment that is trading at a loss, and immediately use those proceeds to purchase a very similar investment position.

Let’s say we bought an investment, we’ll call it “Investment 1” for $100 per share a month ago. Let’s also assume the market sold off over the course of the month and that investment is now worth $80 per share.

Now, there just so happens to be another investment, let’s call it “Investment 2”, which we don’t currently own but is very similar to Investment 1, and it has also fallen in value from $100 to $80 per share.

Because the two investments have very similar profiles – maybe they are both small cap stock investments, as an example – we could tax-loss harvest Investment 1 by selling it, realizing a $20 loss per share, and using the $80 proceeds to immediately buy Investment 2.

As a result of this transaction, we maintain our portfolio allocation – say to small cap stocks – so if the market rebounds we will fully participate. At the same time, we have switched from one investment to another and realized a loss of $20 per share. This loss may help enhance after-tax returns.

Losses can be used in a variety of ways:

• Help offset gains that may have already been triggered elsewhere in the portfolio
• Help offset current income
• Provide more flexibility to trigger future gains within the portfolio – whether as a result of regular rebalancing, or to fund future withdrawals
• It may enable our Investment Team to trim concentrated stock exposures that have large unrealized gains, helping offset those gains and allowing for a more diversified portfolio.

Let’s look at a concrete example.

In the example below, a $25,000 loss from Investment B can be applied to first offset $20,000 of gains that were triggered from a sale of Investment A.

Next, $3,000 of the loss can be used to offset ordinary income, while the remaining $2,000 of losses can be saved to help offset future gains or income. In this example, the total tax savings exceed $8,000.

If you'd like to learn more about our investment services, check out our investments page.

Of course, if you have any questions, please contact your We appreciate that you continue to trust us for your investment and financial needs. If you know someone who can benefit from our services, please let us know.

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