Recap of the Annual Client Meeting

The Truepoint team gathered with clients and friends on September 18 for our fifth Annual Client Meeting at the Cincinnati Art Museum. This is an event we value, as it provides another opportunity to connect with our clients, which we believe is a key component to providing a great client experience.

Joining us as our keynote speaker this year was Greg Valliere, Chief Political Strategist of the Potomac Research Group. Greg has more than 30 years of experience advising investors on Washington policies and is frequently quoted in the nation’s financial press, regularly appearing on CNBC, CNN, Bloomberg TV and radio, Reuters TV and CBS radio.

The Impact of the “Fiscal Cliff”

With the upcoming election, the impending fiscal cliff and the heightened state of geopolitical activity, Mr. Valliere brought a great deal of perspective on the convergence of these elements and the potential impact each will have on the others, as well as on the markets. One key takeaway that he provided was that the fiscal cliff would not bring the severe end-of-year impact that is feared. He believes that while no action will be taken to resolve the fiscal cliff until after the election, a number of components making up the fiscal cliff will be resolved in December, with other components being deferred until the first quarter of 2013.

Focus on Factors in Your Control

Mr. Valliere’s comments served as a good context for reinforcing Truepoint’s philosophy regarding wealth management and why we take this approach. Truepoint Managing Principal Steve Condon followed Mr. Valliere and spoke to our philosophy through the lens of current events. Volatility comes and goes; elections bring debates about what is working and what is not; political activity in high-profile areas of the world produces either anxiety or comfort; and the reaction of financial markets is one significant barometer reflecting the response to these events. But, investors must stay focused on the factors within their control, as opposed to those outside of their control. Attendees were reminded about the importance of understanding when exposure to stocks should or should not be reduced. Simply put, reducing stock exposure should be based on a change in the investor’s circumstances, such as reduced spending needs or time horizon, rather than on anticipated political or financial market events.

Truepoint’s buy, hold and rebalance philosophy has historically produced results enabling our investors to weather the ups and downs. Academic evidence and practical experience both point to broad diversification, disciplined rebalancing and a long-term view as the best means of combating the uncertainty we face. No one can accurately predict the future; fortunately, doing so is not necessary for a good investment outcome.

The meeting concluded with a Q&A session. The opportunity to field client questions and address any concerns is another reason we hold the annual client meeting. It reflects the great value we place on an open line of communication between the members of the Truepoint team and our clients.

To those who were able to join us on September 18, it was a pleasure to have you with us. For those who were unable to attend, we hope you can join us at an annual client meeting in the future. Either way, remember that your Truepoint team is always here for you. You’ll hear from us and know that we always look forward to hearing from you.

If you are not currently a client but would like to learn more about Truepoint’s services, please contact Lisa Reynolds. If you are a client and would like to learn more about this Viewpoint topic, please contact your lead advisor.

Truepoint Wealth Counsel is a fee-only Registered Investment Adviser. Registration as an adviser does not connote a specific level of skill or training. More detail, including forms ADV Part 2A & 2B filed with the SEC, can be found at TruepointWealth.com. Neither the information, nor any opinion expressed, is to be construed as personalized investment, tax or legal advice. The accuracy and completeness of information presented from third-party sources cannot be guaranteed.

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