Kelly Perkins: The Government Shutdown, Our Lives Haven’t

By Kelly Perkins
Special Contributor, Novēm Wealth

As the federal government shutdown stretches beyond a month, the human cost is real: thousands of essential workers furloughed; families strained without paychecks, all amid partisan gridlock. This isn’t working for the country. Americans work to support our families, entrepreneurs tighten budgets to succeed and grow.

Message to Washington: Cease the battles over unchecked spending. Prioritize the nation’s needs. Reopen the doors, return to work, and lead with common sense, not spectacle. Y’all work for us.

Is There a Link Between Shutdowns and Recessions?

There is no evidence of a link between shutdowns and recessions. In the past 30 years, the government has been shut down a total of 80 days. How many of those were in a recession? Try none.

Kelly Perkins: Sorry Folks, the Government’s Closed… and It’s a Nothing Burger

There is a silver lining, however. While the government is shut down, the administration is permanently eliminating positions and departments. Shrinking the government boosts our long-term growth potential and reduces spending. That’s really good for our economy and for reducing the deficit.

Buy Dirt

In addition to a well-managed portfolio, owning real estate is an important part of a financial plan. As the adage goes, “They aren’t making more dirt.” If you live in Texas, you know we are gaining companies and relocations in record numbers.

Your home has likely appreciated over the last decade to levels you didn’t expect — which is good news. For first-time homebuyers, waiting for rates to fall has proven to be a long wait and one you shouldn’t be holding out for. We believe that people are becoming more confident in the economy and are increasingly looking to own their own property.

This is one of the hot topics we are hearing from Millennials. Looking to buy dirt or a home? Novēm Wealth can help with Securities-Backed Lending, and through our mortgage company Novēm Lending, we can do traditional, asset-based lending and all non-qualified mortgage loans.

The Looming Advisor Shortage: A Wake-Up Call for Your Financial Future

U.S. wealth is growing while our population is aging. As Americans become wealthier, their needs become more complex. Millennials today have 25% more wealth than Baby Boomers and Gen Xers had at the same age. While that’s good news, many don’t realize the number of financial advisors available to guide them is dwindling.

Prior to 2000, every major brokerage firm hired hundreds of young people each month and put them into training programs — producing tens of thousands of new advisors each year. When interest rates dropped and markets faltered after the dot-com crash, those training programs ended.

Now, 25 years later, the advisor population has been aging and shrinking. Today, the average advisor is over 65, and conservative estimates suggest that by 2034 the workforce will decline, facing a shortage of 100,000 advisors (McKinsey). To meet growing demand, the industry needs to add 30,000 to 80,000 new advisors over the next decade — compared to only 8,000 added in the last 10 years.

Retirements have outpaced recruitment, with advisors on average 10 years older than professionals in other industries. An estimated 110,000 advisors (38% of the current total), representing 42% of the industry’s assets, are expected to retire in the next decade.

Kelly Perkins: Are Fed Rate Cuts Really the Homebuying Game-Changer You Expect?

You need to pay attention, and here’s why: a recent McKinsey report suggests solutions like boosting advisor productivity with AI tools and off-the-shelf models to serve more people with less time. While that sounds good in theory, do you want your advisor creating financial plans from AI, or using investment models from AI or their brokerage firm to streamline (and eliminate thinking)?

All major firms — both full-service and DIY — are offering and pushing this kind of “advice.” Seek real advice that changes with your life and comes from an experienced advisor. This matters more than you can imagine, especially for your future.

The investment world has changed — but many investment firms haven’t. While others rely on automated models, passive rebalancing, and one-size-fits-all portfolios, we take a different path — one that’s personal, tactical, and built around you.

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested in directly. Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC.