Inspiration from Daniel Burnham upon accepting the 30th annual Burnham Award for Distinguished Leadership, I was humbled to receive the Chicagoland Chamber of Commerce 30th Annual Daniel H Burnham Award for Distinguished Leadership on November 16 2021 surrounded by many of my friends colleagues and associates and mentors in business Thank you to Jack Lavin and the Chamber Board including Kevin Cassidy and Bruce Lubin my colleague Erik Barefield and everyone at the Chicagoland Chamber of Commerce for…, 1 First assess where you are—and where you’re going, Consider engaging an external partner to identify your organization’s current strengths and opportunities for improvement The result will be a valuable strategic roadmap that aligns with overall firm strategy, 2 Second deepen retention through high-value programs and benefits, from employee resource groups and support for families to wellness programs and student loan forgiveness These types of benefits go a long way in confirming your commitment to employees, 3 Third continue to listen and learn, Only by gaining deeper understanding of underlying issues concerning inclusion can we truly progress, 4 And finally engage meaningfully with strategic partners, Find out which organizations are working to advance inclusion in your industry and support their mission programming and events These five actionable measurable steps have the power to Strengthen communities Enhance our workplace culture client service and financial results And most importantly change lives I call upon the business community in Chicagoland and beyond to deepen your ongoing…

One of the key advantages of an HSA is its flexibility For the short term you can use it to pay for immediate medical expenses But if you don’t need to spend on medical expenses in any given year or choose to pay for those expenses from a different source your account can grow… significantly Over the long term there is no better tax-deferred wealth accumulation vehicle, Not everyone understands the ins outs of these types of accounts so listed below are 10 things you might not know about your HSA, 1 Not everyone is eligible to contribute to an HSA, HSA accounts are only available for individuals and families covered by a high-deductible health plan (“HDHP” Since HDHPs have higher out of pocket deductibles than traditional coverage individuals and families must be comfortable with paying “first dollar” expenses out of pocket up to the maximum deductible, 2 In 2025 you can contribute $4300 (individual and $8550 (family to your HSA, This is an increase from $4150 (individual and $8300 (family in 2024 , 3 HSAs can be used to accumulate wealth, If you do not need to use your HSA to pay for current medical expenses you can accumulate and invest those assets taking advantage of their triple tax benefit Annual contributions are made with pre-tax dollars Tax-deferred growth Tax-free withdrawals for health care expenses, 4 You can reimburse yourself for qualified medical expenses from your HSA at any time, Many people are under the misconception that they can only use HSA assets to pay for current medical expenses but the reality is that you can reimburse yourself for qualified medical expenses at any time as long as The expense was incurred after your HSA was established The expense was not reimbursed in any other way A good rule of thumb is to keep detailed records of all medical expenses so that…, 5 Your HSA can be used to pay for your familys qualified medical expenses , As long as you use the funds to pay for qualified medical expenses you can pay for any family member who is a tax dependent on your tax return You may also use the funds for medical expenses incurred by your child who is claimed as a tax dependent by their other parent, 6 Your HSA does not need to be with your employer, Most people think that they need to use their employer HSA plan but you can have an HSA with any provider you choose However please note that your employer might not support payroll contributions and/or pay their match to a different HSA account But just like your retirement plan assets your HSA belongs to you and is portable when you change employers , 7 Your HSA transfers to your spouse tax free upon death , If there is still money in the account upon the death of your spouse the assets are taxable to the heirs , 8 Medicare impacts your HSA contributions, Once you turn 65 you will face decisions about enrolling in Medicare parts A and B Your Wealth Advisor can provide guidance on how this will impact your HSA contributions, 9 Your HSA can be invested in financial markets, Your Wealth Advisor can help you invest your HSA assets into a diversified portfolio as part of your overall financial plan making them an effective long-term saving vehicle to help cover health care expenses in retirement , 10 HSAs can create peace of mind, Health care costs are often one of the largest expenses in retirement and they continue to rise unpredictability If accumulating and investing your HSA assets has been part of your financial plan over your working lifetime you may be more confident that you will have enough for health care expenses without having to spend your retirement assets , Summary,   An HSA offers a unique blend of tax advantages and flexibility Its more than just a medical savings account its a powerful tool for long-term financial growth By understanding its nuances you can maximize its potential and secure your future healthcare costs From tax-free contributions and growth to flexible withdrawal options an HSA can be a game-changer in your financial planning Talk to your…

Equity markets continued to rally during the first quarter buoyed by enthusiasm for artificial intelligence and increased confidence that the US economy would avoid a severe recession Bond markets however struggled to keep up with stocks as expectations for a rate cut receded and interest rates resumed their climb higher , While still in its early stages businesses are spending heavily to build out infrastructure for artificial intelligence capabilities leading to impressive growth for the companies that provide AI building blocks For example the Morningstar US Semiconductor Index rose 463% in just the first three months of this year  Partly due to these trends the widely followed S&P 500 Index has become…, Equities , The S&P 500 returned 106% in the quarter with most sectors participating Tech-heavy sectors like communication services and information technology returned 158% and 127% respectively More traditional sectors also participated with financials up 125% and Iindustrials up 11% The Russell Mid Cap Index returned 86% in the quarter while small capitalization stocks measured by the Russell 2000…, Fixed Income , The Bloomberg US Aggregate Bond Index fell 08% due mostly to rising interest rates Shorter-term bonds and corporate bonds fared slightly better with the Bloomberg US Government/Credit 1-3 year Index generating a modest but positive 04% return Lower quality high-yield bonds also performed well with the Bloomberg US Corporate High Yield Index returning 15% , Commodities , The Bloomberg Commodity Index rose 22% in the quarter Gold prices rallied 73% while oil prices rose from $70 to $84 for a barrel of West Texas crude oil    Important Information The Bloomberg Commodity Index is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited  The Bloomberg US Aggregate Bond Index is a broad-based flagship benchmark that measures the…

Markets remained volatile during the first quarter of 2025 as investors grappled with uncertainty surrounding trade policy interest rates and slowing corporate earnings growth While the year began with optimism following strong 2024 returns concerns over new tariffs and persistent inflation pressures led to a broad market pullback Looking ahead geopolitical risks and policy uncertainty could…, The stock market saw sharp swings in early 2025 reaching an all-time high late February before experiencing a peak-to-trough correction drop of over -10% Inflation remained stubbornly high at nearly 3% leading the Federal Reserve to hold rates steady during the quarter Long-term 10-Year Treasury yields fell from a high of 48% to 42% at the end of the quarter as recession concerns grew As we move…, Equities, The S&P 500 Index declined -43% during the first quarter reversing some of the gains from the previous two years Market weakness was largely broad-based though some defensive sectors generated positive returns including Utilities Healthcare Telecommunications and Energy Mid and small capitalization companies were hit particularly hard with the Russell Mid Cap Index declining -34% and the…, Fixed Income, Fixed income markets were largely positive during the quarter as growing recession concerns led to a belief that the Federal Reserve will be more aggressive with interest rate cuts in the second half of the year The Bloomberg US Aggregate Bond Index returned 28% reflecting downward pressure on longer-term yields Shorter-duration bonds fared better with the Bloomberg 1-3 Year Treasury Index…, Commodities, Oil prices were volatile but crude oil ended the quarter near where it started at $72 per barrel Gold continued the rally it experienced in 2024 rising 182% as investors sought safe-haven assets The Bloomberg Commodity Index posted an 88% return for the quarter as prices rose across energy and industrial metals Looking ahead supply-side constraints and geopolitical risks could drive renewed…

1Q2021 Review We end this first quarter of 2021 striving to maintain a disciplined balance in a volatile world While we celebrate the remarkable accomplishments of our scientific and medical communities we mourn the loss of 26 million lives globally While we recognize the remarkable scientific achievements of Operation Warp Speed we note that it will be years before billions of our fellow global…

1Q2022 Review The invasion of Ukraine by the Russian Federation on February 24 2022 has resulted in the most significant humanitarian crisis in Europe in decades and created the greatest threat to modern Europe and international order since World War II Our thoughts remain with all those around the world who are affected by this ongoing war As global markets struggle to price a descent from…

Welcome to the  1Q2023 Capital Markets Brief, This quarter we have expanded our topics to include a more comprehensive set of fixed income markets While our strongest conviction is knowing that the next wave of volatility will likely come from an asset class that is currently out of focus we will do our best to provide expertise and information as these extraordinary times continue to unfold At his March 22nd press conference Jerome Powell…

Primary influences on the sector, Supported by a strong underlying economy and a record-breaking US defense budget of nearly $700 billion 2019 was an outstanding year for the A&D sector overall Even compared to the S&P 500’s 29% gain most A&D stalwarts delivered robust results as indicated by Airbus’ 55% advance and 34% growth for Honeywell Despite the sector’s strong performance the most notable development in 2019…

Expect M&A activity within the paper plastics packaging and specialty printing sectors to pause due to overall concerns regarding COVID-19 and economic recession but reaccelerate and remain strong as has been the case over the past number of years Private equity firms in particular are taking notice that the packaging industry while not high growth offers strong stable and consolidation…