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Vizionary Quarterly Report Q4 2023

A quick reminder to you our clients - your quarterly reports are available and can be viewed through your Client Portal.

By Wayne Wagner Jr.

In their book “Build the Life You Want,” co-authors Arthur C. Brooks and Oprah Winfrey dive into the theme of happiness: What is it? How is it measured? How can we increase our amount of it, etc. One of the chapters that hit me to my core was the chapter on serving others. People who go about their lives seeking to serve others (vs thinking only about themselves or merely thinking good thoughts toward others – the “thoughts and prayers" crowd) are demonstrably happier and live more fulfilling lives. This struck me so deeply because, at Vizionary, the entire business is about serving others. 

We have these amazing mutually beneficial relationships with a diverse and growing group of clients, and we get to live amazing, happy lives. Arthur and Oprah helped me connect the actual construct of the business we have to the feelings of happiness that I experience going to work every day. So on behalf of a very happy and fulfilled team at Vizionary – THANK YOU for the opportunity you give us to serve you and your family. 

We want to help manage and accelerate your wealth not just monetarily but by helping support you in finding your own happiness, your own purpose in serving in your sphere. That purpose may be caring for and supporting your spouse, children, or extended family; investing in relationships in your own sphere and community; or serving and/or giving to organizations carrying out positive work that is consistent with your own personal ethos and worldview. 

As we wrap up 2023, a complex year for the markets and economy, we wanted to share a few thoughts. Parts of the economy are continuing to be resilient, even robust. The markets have been driven to frothy heights by the hype of AI-fueled potential profits. This caused the market indexes to become unreasonably overweighed towards a small number of companies who are trying to convert AI potential into actual profits. 

Our diversified portfolios benefited from the market recovery but our underweight to those high-flying AI names caused equity portfolios to lag the broader markets. Not since the late 90s have we seen this kind of imbalance in the markets and today’s imbalance actually eclipses the late 90s tech craze in terms of the small number of companies gathering a disproportionate amount of market attention and capital investment. 

While we are happy to participate in, but not fully embrace the current AI madness, one area of the economic evolution we have likely overlooked is the reconfiguring of globalism after Covid. We are seeing increasing “insourcing” and a restructuring of global supply chains to become more regionalized in nature and this is causing substantial opportunities for the job market as our economy seems to be bringing jobs “back” from far-flung lands and creating more and more jobs at home. 

We are somewhat concerned about the quality and pay scale of many of these jobs as many seem to be lower income or part-time vs full-time jobs, but the positive impact on our economic output should not be understated. This is something we didn’t fully embrace at the beginning of 2023 and something we will be more fully embracing through 2024. 

Our expectation for 2024 is to see some market volatility through the election cycle. We will use that volatility to weight portfolios a bit more heavily towards equities. Recall we shifted a bit heavier towards low-risk assets in late 2021 which served us very well in 2022 and caused us some market lag in 2023. Now this should be a year where we tilt back towards equities a bit as longer-term positive trends should lead the market higher coming out of 2024 and into future years. Some of these global trends of “insourcing,” regionalization vs globalization, etc should have positive long-term benefits for our American economy. 

The 2024 election season is going to be more interesting than most as a Biden vs Trump vs Kennedy lineup could provide a bit more anxiety and stress on US voters than even the last couple of insane presidential election cycles. I want to go on record that we should at least consider just picking a name from a hat of all Americans over the age of 35 and give that person the title of President for 4 years … kidding, but maybe not. In any event, strap in for what is sure to be an eventful year.

Included here is our annual Impact Report, something new from the team here at Vizionary. We highlight some team news, activities as well as some of our strategic partnerships on the philanthropic side. Our single largest contribution last year was to a remarkable organization, Foster the Family. Mae and I have developed great friendships and even stronger respect for the leadership at this organization and we see the work they are doing as vital to providing needed support for children and families wrestling through the foster care system. These government systems are perpetually underfunded and understaffed and the caring parents who wander into this space to help care for children during their darkest seasons are doing some of the most important work that can be done within our society. FTF provides a community to support, encourage, affirm and enable foster parents through training, meetings, mentoring and events. Mae and I plan to continue our support and personal involvement with FTF in the years to come and we will share some of our experiences with you as we partner with this great organization. 

Thank you, as always, for the opportunity to serve you and your family. Looking forward to supporting you and your own goals and dreams this year and for years to come.

Envizioning More in 2024.

Wayne Wagner Jr, ChFC

Advisory services offered through WealthPlan Group, a DBA for WealthPlan Investment Management, a subsidiary Registered Investment Advisor of WealthPlan Group, LLC. WealthPlan Group, LLC is not a registered investment advisor, but is the holding company for WealthPlan Partners LLC and WealthPlan Investment Management, LLC.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which Investment(s) may be appropriate for you, consult your financial advisor prior to investing. Information is based on sources believed to be reliable, however, their accuracy or completeness cannot be guaranteed.

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