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Financial literacy is crucial, not only for adults but for everyone in the family. When you have a good foundation of financial literacy, you will have a greater understanding of money and prepare yourself for a brighter financial future. Ready to improve the financial literacy of your family? Below are a few ways to get started. Help Them Understand How Money Works One of the first steps in teaching your family financial literacy is helping everyone understand where the money comes from. When it comes to adults, income is most likely to come from a job. For children, their income is most likely an allowance, a part-time job, or the occasional influx of birthday or other gift money. Next, they will need to understand that the things they spend their money on are considered expenses. Get your children to understand the type of expenses associated with daily living, so it won't come as a surprise when they encounter their expenses.2 Show Them How to Distinguish Between Needs and Wants An important thing to instill in children early is the differences between needs and wants so that they learn how to spend their money appropriately. Tell them that needs are items that aren’t easy to live without, such as food, shelter, and clothing. Explain to them that wants are items that you would like to have but do not need. It is essential that they understand that spending money on wants should wait until after they are sure that all of their needs are met.1 Let Them Know the Importance of Savings Children need to know that, in some instances, expenses will be larger than anticipated. Because of that, savings are critical. Saving money when possible is vital to have the funds for large or unexpected expenses. With kids, you may want to start teaching them to save by showing that if they put their money away diligently, they will be able to purchase a much more expensive item they really want.2 Teach Them to Budget Teaching your children to budget is as important as teaching them how to save. With a budget in place, they will be able to satisfy their needs, learn to put money away for savings, and only spend their money on wants when they have it to spend. Budgeting is also a crucial tool to see where your money is going and find areas where you are able to cut back on expenses if needed. To create a simple budget, you need to account for all possible income and then calculate monthly expenses. If your income is less than your expenses, more income will be needed, or expenses will need to be cut. 1 Teaching financial literacy early on will help you prepare your family for the future and give them tools to help stave off financial problems while helping them pursue their financial goals. Important Disclosures 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 information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking #1-05359966 Footnotes 1 Money Matters: Financial Literacy for the Whole Family, ABC Money Matters, https://abcmoneymatters.ca/wp-content/uploads/2019/02/MM-SeminarSeries-Financial-Literacy-2019.pdf 2 Teaching Children About Money, Family Ed Center, https://familyedcentre.org/money-matters-when-parenting/

We're thrilled to announce that Barron’s has once again named John Gatewood to the Barron’s Top 1,200 Advisors List! The list is based on a variety of factors, including assets under management, revenue produced for the firm, regulatory record, quality of practice, and philanthropic work. “I am tremendously proud of our entire GWS team for this recognition,” said Gatewood Wealth Solution’s Founder & CEO John Gatewood. “Our advisors go above and beyond every day to help clients become and remain financially self-reliant by providing the highest level of personal service and financial advice.” Thank you to our hard-working team for helping us earn this recognition, as well as to our loyal clients. It is a privilege to serve you! To review the full list or get more information, visit here. Disclosures Barron's Top 1,200 Financial Advisors is based on assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work.

When discussing multigenerational wealth it is common to come across proverbs that acknowledge the fact that generational wealth typically won’t make it past the third generation. In the United States the saying goes, “from shirtsleeves to shirtsleeves in three generations.” [i] In China it is said, “rags to rags in three generations.” [ii] Generational wealth encompasses financial assets with a monetary value. These include investments, real estate, land, cash, collectibles, etc., that are passed from generation to generation. Why does wealth seem to disappear within three generations? Several reasons include: Mismanagement of wealth leading to an inheritance tax burden A growing family Spendthrifts Lack of financial education for those who are receiving the inheritance If you have concerns about assets being passed down, please view our checklist and determine where you stand. Do you participate in effective gifting? Using the annual gift exclusion and lifetime exemption is an effective strategy for passing on wealth to beneficiaries without being subject to significant tax responsibilities. The gift tax exclusion for 2023 is $17,000. That means both parents are allowed to give someone up to $17,000 per year ($34,000 per person), to as many people as they want. Should any of their gifts happen to exceed the gift exclusion limit, the amount in excess will go toward the lifetime exclusion amount which is currently $12.92 million in 2023. [iii] Are you familiar with how trusts work to preserve generational wealth? Trusts are legal entities that preserve wealth and allow the issuer of the trust to distribute the wealth as they see fit. They mitigate the risk of beneficiaries losing assets through lawsuits, divorce, or unexpected occurrences, and trusts also provide certain tax incentives. They can help you avoid probate, provide for a disabled beneficiary, establish a spousal trust, and other benefits. There are a variety of options to choose from and it is encouraged that you consult a financial professional to help you determine what works best for you and your family. Some of these trusts include: Living trusts Charitable and Charitable Remainder trusts Testamentary trusts Dynasty trust Spendthrift trust Irrevocable trust Are you teaching financial skills to the children who will inherit your wealth? It is critical to teach children the value of saving and how to invest. This can help to preserve the wealth they will one day inherit. It is a common theme that beneficiaries who inherit wealth will be tempted to spend it. However, this may stem from the fact that they don’t understand how to make the money work for them. Parents can educate their children and grandchildren on investing in financial instruments like stocks, bonds, CDs, annuities, and real estate interests. They can walk them through preparing a budget, provide them with financial literacy books, and even consider granting them a small sum of money to practice money management (while the parents monitors their progress). Do you know how taxes affect generational wealth as it is passed down? Depending on the amount of assets distributed to beneficiaries, and the manner in which they are passed down, the act of giving may trigger a gift tax. There are several methods of giving that can help to lessen the tax burden including: Annual gifting Lifetime gift exclusion Charitable giving Taking capital losses to offset capital gains Deduct medical expenses that exceed 7.5% of your adjusted gross income Tax credits can be more beneficial than tax deductions as they lower your tax bill dollar for dollar as opposed to reducing your taxable income, like the plug-in electric vehicle credit and residential energy efficient property credit [iv] Do your beneficiaries understand the value of compounding wealth? The earlier they begin investing money, the more beneficial the compounding interest will work on their behalf. The idea is long-term growth. To take full advantage of compounding wealth you have to be patient. A few common ways of investing where your interest compounds over time include: Dividend stocks High-yield savings accounts Bonds and bond funds Certificates of deposit (CDs) Real estate investment trusts (REITs) Simple interest annuities It is highly encouraged that you enlist the help of a financial professional to learn which investments would be appropriate for you and your family’s generational wealth distribution goals. Is there a family member you want to help with education expenses? A popular way to transfer wealth is by paying for a family member or friend’s education. With this strategy, the tuition is paid directly to the institution, which permits the giver to be exempt from gift taxes. Money used for books, room and board, and other educational expenses is not tax exempt. If the preservation of wealth over multiple generations is a plan that you are interested in exploring, consider consulting a financial professional who can help you design a strategy to pursue your financial goals. Important Disclosures 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 professional prior to investing. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. Investing in stock includes numerous specific risks including: the fluctuation of dividend, loss of principal and potential illiquidity of the investment in a falling market. An increase in interest rates may cause the price of bonds and bond mutual funds to decline. CD’s are FDIC Insured and offer a fixed rate of return if held to maturity. Non-traded Real Estate Investment Trusts (REITs) invest in commercial real estate or real estate related debt, but unlike exchange-traded REITs are not listed on a national securities exchange. Non-traded REITs differ from exchange-traded products with similar strategies, and can carry significant risk that should be understood prior to investing. Significant risks include, but are not limited to: sector concentration, geographic, illiquidity, interest rate, change in governmental, tax, real estate, and zoning laws, and debt. Alternative investments, including REITs, may not be suitable for all investors, and the strategies employed in the management of alternative investments may accelerate the velocity of potential loss. Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value. LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial. All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by LPL Marketing Solutions Footnotes [i] How to beat the third-generation curse (smu.edu.sg) [ii] Why wealth lasts 3 generations ? - Entrepreneur Post [iii] IRS bumps up estate-tax exclusion to $12.92 million for 2023 (cnbc.com) [iv] 9 Best Ways to Lower Your Taxes - Experian LPL Tracking # 1-05361300

Financial literacy refers to the skills and knowledge that allow an individual to make informed and effective decisions through their understanding of finances. Financial literacy starts by building a basic understanding of 'money matters' to create a sense of economic well-being, self-trust, and financial confidence. The principles of financial literacy include: Saving Saving is preparing for the future through actions such as: Saving consistently into a savings account Saving for large purchases Increasing your retirement savings each time you get a raise Having a fully-funded emergency fund with three to six months of living expenses saved Managing Debt Managing debt includes repaying and avoiding debt through actions such as: Seeking out the lowest interest rates when borrowing Paying off credit card balances each month Consistently making on-time credit payments Avoiding bankruptcy by working with a credit counselor when debt becomes overwhelming Investing Investing for the future helps prepare a financially secure retirement through actions such as: Participating in your employer-sponsored retirement plan Financial planning Working with a financial professional Having adequate insurance to preserve your ‘nest egg.’ Investing in after-tax strategies Financial Literacy also includes having a basic understanding of how to pay bills online, manage bank accounts, manage debt, fill out income tax withholding forms at work, and other money-related actions. Where can individuals learn financial literacy? Financial Literacy Through Licensed Professionals A financial professional, Certified Public Accountant (CPA), or a financial literacy instructor can provide education on financial concepts to help increase financial literacy. Financial professionals should first educate to help individuals make informed decisions later. Financial Literacy at Work When employees can attend workplace classes on budgeting, saving, and investing, they are more likely to save for retirement and not live beyond their means. These classes are commonly conducted by the financial professional that oversees the company’s retirement plan, the HR Department, and other financial literacy educators. Financial Literacy at School Currently, 23 states require a financial literacy class to graduate from high school (2022 Survey of the States). Financial literacy experts know that teaching students how to manage their income and expenses and giving them a basic understanding of financial concepts will enable them to have financial success regardless of their future income. Having trained teachers who know financial literacy content can help develop better credit behaviors early, even if offered through the school system, which leads to making on-time payments and understanding how to manage debt and credit. Financial literacy through free resources- Look for free tools available to you through your bank or credit card company to help you monitor your spending and credit score. Also, check online for financial literacy apps through The Motley Fool’s Best Financial Literacy Apps for 2022. Financial literacy affects all ages and all socioeconomic levels. It’s up to all of us to improve financial literacy here in the U.S. if we are to move away from being a debt-ridden society and toward being a society with financial security. Important Disclosures 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 information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by Fresh Finance. LPL Tracking # 1-05259889

Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged accounts, it's worth taking a closer look at your retirement savings. Below, we discuss three ways to refresh your retirement plan this spring. Maintain Consistent Savings With inflation taking a bite out of just about everyone's paychecks, it can sometimes be tempting to decrease the amount you're contributing to retirement just to gain a bit of breathing room. However, maintaining a consistent rate of savings even through lean times can go a long way toward securing your financial future. When it comes to saving for retirement, time is on your side—and the more you can contribute at a younger age, the more time this money will have to grow. If your savings rate has been at the same level for more than a few years, it may be time to revisit this contribution. You may discover that you can afford to set aside a little more; in other cases, it may make sense to switch from a tax-deferred account to a post-tax account like a Roth 401(k) or Roth IRA. Review Your Asset Allocation When it comes to investing for retirement through an employer plan, the options available to you may sometimes seem overwhelming. Far beyond mere "stocks vs. bonds," employees are asked to choose from accounts ranging from growth to stability, domestic to international, and tech to blue chips. For some plans, the default option is to put contributions into a money market account rather than investing them in the stock market. Does your asset allocation appropriately reflect your risk tolerance and investment timeline? It can be tough to know. Fortunately, you don't have to do it alone. A financial professional can work with you on your strategies and goals, making adjustments where necessary to keep you on the right path. Don't wait until you get closer to retirement to realize you haven't been investing as efficiently as you would have liked. Check Your Beneficiaries One last thing that is important to keep an eye on involves the disposition of your assets once you've passed away. Many financial accounts like 401(k)s, IRAs, and even some bank accounts may require you to name a beneficiary. And for life insurance policies, the beneficiary is key—this is the person to whom the benefits pass, regardless what a marriage decree or executed will may say to the contrary. If you've gotten married or divorced, had children recently, or if it's been more than a year since you evaluated your beneficiary designations, it's important to revisit each of your financial accounts to ensure your beneficiary designations continue to reflect your wishes. In many cases, a surviving family member has discovered too late that their loved one named an ex-spouse or estranged family member as their beneficiary, leaving those who depend on them in the lurch. Important Disclosures 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 professional prior to investing. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change. An investment in the Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. Asset allocation does not ensure a profit or protect against a loss. This article was prepared by WriterAccess. LPL Tracking # 1-05355828

Baseball and financial management can have more in common than meets the eye. Below, we discuss four key lessons that investors—and everyone else—can learn from America's favorite pastime. Diversification of Assets is Critical Having nine power-hitters who are weak in the outfield can help your team rack up high scores—but may not be enough to win the game. Just as you want your baseball team to include a good mix of a variety of skills and abilities, you should want your investment portfolio to include a diverse mix of stocks and more conservative assets, domestic and international assets, and tax-deferred and tax-advantaged accounts. And like any good manager, it's also important to have solid, identifiable expectations of the assets in your portfolio and to know when to cut certain "players" loose. Whether this means selling an asset once it hits a certain price or engaging in more complex strategies like tax loss harvesting, knowing when to call it a game can be the key between winning and losing. You Need a Plan to Manage Losing Streaks Few teams are able to consistently stay on top; even the best franchises have gone through tough times. And if the Chicago Cubs' 107-season World Series drought is any indication, baseball can be full of some long down periods.1 Investors and baseball fans should be prepared for these down periods, no matter when they occur. Look back at historical statistics to reassure yourself that these events happen periodically, and with good planning and a bit of luck, winning seasons can come back. Having a plan to get yourself through these slumps can help investors and sports fans weather even the most discouraging times. Try to Avoid One-Hit Wonders Who doesn't love to see a player blast a 500-foot home run, or watch a penny stock or crypto coin increase by over a thousand times in value nearly overnight? While these types of opportunities are fun to watch and present great feel-good stories, having a portfolio composed of power-hitters can also leave you vulnerable to major fluctuations in value. All investments have some degree of risk, but it's important for these risks to be compensated—in other words, investments that have a likelihood of increasing in value that corresponds to their risk, not those that will depend on overcoming the slimmest of odds to create a small group of lottery winners. Take Advantage of the Seventh-Inning Stretch The seventh-inning stretch gives fans an opportunity to get a brief change of scenery to focus on the last couple of innings of the game. Investing for years without setting aside time to evaluate your asset allocation, your tax reduction strategies, and your retirement plans can leave you scrambling once it's time to make decisions about your future. Give yourself a virtual "seventh inning stretch" by stepping back and taking a holistic look at your finances so that you can buckle down with renewed focus. With a solid game plan and prudent evaluation of risk, you're ready to get started! Important Disclosures: 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 professional prior to investing. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking # 1-05355833. Footnotes: 1. https://www.nbcsports.com/chicago/chicago-cubs/joy-world-cubs-finally-end-108-year-series-drought

When spring rolls around, your thoughts might turn to organizing your closets or giving your floors a good deep clean. But how much thought have you given to cleaning up your finances? If the answer is “not much,” you might want to reconsider. Spring is a great in-between time of year to take stock of your financial health and to create goals for the rest of the year—or to plan for the years ahead. But before you dive headfirst into any new financial plan, you need to take a look at the current state of your finances. Are they where you want them to be? Have you had trouble putting enough away to account for the unexpected? The steps below can help you get started. Step 1: Write it all down. A coffee here, a new pair of shoes there; when you go about your life as usual, you don’t typically think about how much you’re spending. But even small purchases on a frequent basis can add up. Take a month to jot down or create a digital spreadsheet of all your expenses, including mortgage or rent payments, utility bills, groceries, subscription services, and miscellaneous expenditures. When you are able to see a month’s worth of spending in front of you, it becomes easier to determine which are necessary and which areas you can cut back on. Step 2: Establish a budget. Once you have an estimate of how much you are spending each month, set up a budget that fits your lifestyle and goals. You can break your budget into areas such as housing and utilities, food and personal care items, childcare, memberships, and miscellaneous. If you’ve tried budgeting in the past to no avail, start small. You don’t have to create a budget for all areas of your life at one time. Try setting up a budget for just one or two areas. Perhaps you want to spend less on subscriptions and memberships that you don’t use. A $30 gym membership might not sound like a lot of money to shell out each month, but that adds up to $360 a year! Be realistic about how much you are willing to spend on nonessentials, and consider looking for less expensive alternatives. Step 3: Evaluate and pay down. Credit is a necessary evil, but it doesn’t have to be nearly as big a headache as it is made out to be. Of course, some credit is good. Showcasing your ability to make timely payments to creditors is imperative for everything from buying a house to starting a business, but it’s easy to get in over your head. If you have multiple lines of credit, look carefully at the interest rates and amount borrowed on each. Start by paying down the cards with the highest amount of interest, which can quickly accrue and leave you even more in the hole. Be realistic with your time frame for paying off debt. If you attempt to bite off more than you can chew, you can end up in worse shape than when you began. Do some research into your credit companies’ policies and see if they will work with you toward a lower interest rate or a reasonable payment plan. Once you’ve made progress in paying off any outstanding balances, make sure you remain in the black by setting up limits for yourself. Compare your credit limit, which is oftentimes far higher than what you can reasonably afford to pay off each month, with your monthly income and make sure you do not break the threshold you establish. If this sounds easier said than done, try to leave your credit cards at home unless you absolutely need them, or use them for smaller purchases that you can pay off more easily. Take Advantage of Apps There truly is an app for everything these days, including managing your finances. While apps cannot replace the expertise of a professional, they are a great way to plan, budget, and keep track of your savings on daily, weekly, and monthly bases. Mint If you’re tired of having to look through multiple accounts to keep track of your spending, the Mint app is perfect for you. The app logs everything: the total amount of money you have across all your accounts, your credit score, and debt. Its calendar function can show you when your bills are due and how much you owe, and lets you check off payments once they’re made. The best part? Mint is totally free. Spendee Visual learners, look no further than Spendee for your financial-planning needs. This app provides a visual breakdown of your spending, allowing you to more easily see the areas you might want to cut back on. It connects to your bank account to provide a list view of your payments, and it can even show the average of your expenses as well as the day of the week you tend to spend the most. Whether you want to save a few extra dollars each month or plan for a life-changing purchase like a new home, a little cleanup of your finances can go a long way. Just be sure to consult a professional for your specific financial needs. This article was prepared by ReminderMedia. LPL Tracking #1-05233969

Stock and bond market activity was materially shaken last week as Silicon Valley Bank (SVB), the California bank subsidiary of SVB Financial Group (SIVB), fell into FDIC receivership. SVB is the first FDIC-insured institution to fail since 2020 and the largest by assets since Washington Mutual failed in 2008. The news has caused market participants to speculate if another shoe is to drop. Many market participants are focusing in on SVB’s losses in its securities portfolio as a key cause for its demise, and participants are also tying the bank’s fall to the Federal Reserve’s (Fed) rising rate policies. We believe Fed policies were only partially to blame, as SVB’s niche customer base and lack of earning asset diversification (i.e. an unusually large portfolio of marketable securities relative to assets) also contributed to the bank’s failure. Meanwhile, late Sunday, regulators closed Signature Bank (SBNY), an FDIC-insured New York state commercial bank with total assets of $110 billion. The institution fell victim to excess crypto-related deposits and was also experiencing material deposit outflows (-16.5% year-over-year). At this time, we do not believe the SVB and SBNY bank failures are a deeper sign of things to come. However, we are paying close attention to ongoing developments in the banking sector and in other industries for hints of any widespread contagion. Indeed, more banks may come under distress (72 FDIC-insured banks have failed over the last 10 years), but we are not expecting SVB and SBNY to be the first steps on the way to a systemic crisis if the Federal Reserve, Treasury, and FDIC use their tools early to protect the system. LPL Research’s quantitative analysis of banks and savings and loan institutions in the Russell 3000 Index (see below) points to distinctive operating aspects of SVB that we believe contributed to its downfall. Unique exposures at SBNY (crypto) likely caused that institution to also suffer a lack of diversification in its depositor base. Also on Sunday, regulators, including the U.S. Treasury Department, the Fed, and the Federal Deposit Insurance Corporation, indicated that all depositors of SVB and SBNY will be made whole. Meanwhile, we anticipate regulators will take emergency measures Monday and/or this week to help backstop the banking system and reinstall depositor confidence. SVB Financial Group (SIVB) Background SIVB is a bank holding company that serves emerging growth and middle-market growth companies in targeted niches, focusing on the technology and life-sciences industries. The company’s operations include a limited international presence, a U.S. wealth unit, a commercial bank, an investment bank, and a fund manager. Prior to the current distress, the bank (SVB) held $212 billion in assets and $175 billion in deposits. SVB’s unique combination of bank depositors (individuals and institutions exposed to weakness in venture/start-up valuations) and degradation to its asset portfolio caused the institution to become troubled when faced with unusually large depositor withdrawals. The large amount of withdrawals, driven in part by SVB’s customer exposure to distress in the venture capital industry and its lack of stickier retail deposits, caused SIVB to sell marketable assets at losses to cover those withdrawals. This added further stress to its balance sheet as more fixed income securities were marked to market at much lower valuations. The news flow about SVB’s position intensified the withdrawal outflow, which ultimately resulted in the FDIC stepping in. Signature Bank (SBNY) Background Signature Bank is a full service commercial bank that serves privately-owned business clients and their owners and senior managers. The bank provides a line of personal banking products and services along with investment, brokerage, asset management, and insurance products. The “House View” At the time of this writing, we are hearing that Fed officials are contemplating several measures to attempt to ensure stability in the banking system. Any such developments will likely be viewed as a positive by the market. However, we are also anticipating that depositors at smaller banks may become uneasy and may seek to withdraw funds. Reuters has reported of such an occurrence at a First Republic Bank in California (ticker: FRC). The risk of this type of sentiment activity, as well as the late-Sunday news on Signature Bank, causes us to operate with tactical caution at this juncture, particularly when it comes to bank stocks. Bank Industry Analysis Re: SVB Financial Group (SIVB) To gather insight into the potential systemic risk posed by the SVB failure, LPL Research conducted quantitative analysis of the 241 publicly-traded banks and savings and loan institutions in the Russell 3000 Index. LPL analyzed each company’s deposits, deposit rate of growth, unrealized losses, total assets, marketable securities position, capital ratios, and marketable security positions relative to various balance sheet variables. Our findings were: SVB Financial Group (SIVB) was the 14th largest institution by assets ($212 billion) as of December 31, 2022. Of all the banks in our studied universe, SVB Financial Group had far more marketable securities relative to total assets, total deposits, and earning assets: 55.4%, 67.4%, and 60.4%. The average for the banks with over $25 billion in assets was 22.2%, 29.5%, and 25.3%. This means SIVB was running a balance sheet relatively more prone to changes in market prices than its counterparts and thus was more exposed to price pressure in the bond market. SIVB’s deposit growth over the last year (-8.5%) was materially worse than the universe of banks with over $25 billion in assets (+5.6%). The lack of asset diversification made it uniquely difficult for SIVB to manage against high withdrawal flows. The niche nature of SIVB’s clientele, coupled with the firm’s balance sheet mismanagement, were distinctive contributors to the bank’s downfall, in our view. While other banking institutions need to be scrutinized for their specific business exposure, we do believe broader asset diversification among many banks we have analyzed can alleviate the risk of another high-profile bank failure. _____ Citation(s) LPL Research. (2023, March 13). Dissecting Recent Bank Failures. Retrieved from https://lplresearch.com/2023/03/13/dissecting-recent-bank-failures/#more-27036. _____ Important Disclosures This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results. Any company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities. All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. All index and market data from Bloomberg. This Research material was prepared by LPL Financial, LLC. Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. To the extent you are receiving investment advice from a separately registered independent investment advisor that is not an LPL affiliate, please note LPL makes no representation with respect to such entity. 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As Samuel Goldwyn once said, "The harder I work…the luckier I get!" 1 But when it comes to investing, luck may play a huge role in outcomes—no matter how hard you work.2 Below, we discuss some ways that luck may impact your investing, as well as some steps you may wish to take to try to make your own good luck this St. Patrick's Day. The Impact of Luck on Investment Returns One reason so many financial professionals advise against market timing for long-term investors involves the distribution of days with major gains and days with major losses. Historically, and particularly seen during the earliest days of the COVID-19 pandemic, some of the market's best days were followed by some of its worst, and vice versa.3 Trying to sell at the top and buy at the bottom may require a great deal of luck. You may need to trust that a day with a 2 or 3 percent loss may not be immediately followed by a day with a 2 or 3 percent gain. However, over the course of a long investing horizon, these single-digit gains and dips aren't likely to have a major impact unless you make a habit of buying and selling during volatile periods. Focus On Process, Not Prior Results How can you take advantage of good luck and avoid the impact of bad luck when choosing your investments? The answer may be complicated and may depend on your personal circumstances. However, by focusing on the investment process—rather than chasing returns by buying into funds that have recently had a good run—you may be more likely to pick a future winner. Having a solid process may increase your probability of investment success over time. With your financial professional, consider focusing on these three steps: Discuss your financial professional's analytical process. How does your financial professional choose funds? How does he or she know whether it's time to dump underperforming funds or stick around for a future rally? By having some insight into the process your financial professional uses to choose their investments, you may determine whether this approach fits your risk tolerance and desired asset allocation. Ask whether this process is designed to manage and mitigate some of the behavioral biases that may send investments off-course. Some of these biases include overconfidence, sunk cost fallacy, and anchoring of sources. Ensure that your financial professional is reading and absorbing information from a variety of solid sources. Once an investment or set of investments has been chosen, evaluate it with an eye toward its end user. Is this investment intended to provide high commissions that enrich the investment company more than the shareholders? Or does it provide an excess return that more than accounts for its fees? Compare the investments to their benchmarks to see how they've performed over the years. Sifting through which successes are attributable to luck and which to skill may be tricky. But by firming up your investment selection process, you may improve your luck and increase your likelihood of success. Important Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. Asset allocation does not ensure a profit or protect against a loss. Past performance is no guarantee of future results. All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess LPL Tracking # 1-05233581 1 https://alwaystheholidays.com/st-patricks-day-quotes/ 2 https://medium.com/alpha-beta-blog/luck-vs-skill-a52c5ab62b9d 3 https://www.foxbusiness.com/markets/the-dows-biggest-single-day-drops-in-history

Credit is a crucial component of your financial health and well-being. Without proper credit, it might be difficult, if not impossible to obtain the things you need throughout your life, such as a place to live, or a vehicle to drive. Throughout your life, you will be in different credit situations and your credit will be important for different reasons. To know what you need to do to get your credit where it needs to be, it is important to understand what your credit situation is likely to be at your specific stage in life. Millennials For millennials, the current goal is establishing and building a credit history. Those on the younger end of this generation may be experiencing their first taste of credit which often comes in the form of credit cards or student loans. The downside for this generation is that they have little credit history. This means even if the credit history they have is good, the lack of time and number of accounts may still lead to a lower score. The goal for credit during this stage in life should be to build it up enough to be able to qualify for home and car loans when the time for purchase arises. To do this, you will need to establish credit as soon as possible, always make payments on time, keep the overall debt amount low, and keep balances to limits low. It is also advisable to diversify credit as well between long-term debt like a student loan and revolving debt with a credit card. Gen Xers While Gen Xers have their credit significantly more established by this point in their lives, they are likely to rely on a good credit score the most. At this stage in life, you should be fine-tuning your credit, pushing it from fair to good or excellent. This jump in credit means significant savings when it comes to major purchases, paying down debt, or refinancing a home to get the lowest rates. The credit strategy at this point should be lowering the ratio of debt to open credit to 30% or less, continuing to pay bills on time, and making sure to avoid any blemishes on your credit record. Not only will having a higher credit score provide you with the freedom to make the purchase you want, but will also provide you with the greatest savings on interest. Baby Boomers When you see those significantly high credit scores, most often they belong to Baby Boomers. It is a reward for those who have spent many years paying their bills on time, managing their debts, and diversifying their accounts. What's interesting about credit with this generation, is that high debt does not necessarily lead to a lower credit score. Whether it is due to the fact that Boomers have so many other positive factors with their credit, or they have higher credit limits making the ratio lower, it seems that having a larger amount of debt at this age is not as penalized. But that doesn't mean that you should stop trying to maintain that good standing. A good credit score may help you to obtain the things you desire for your retirement. Continue to make timely payments and while it is ok to add debt, make sure that you have the income to stay on top of it and keep the ratio of debt to limits low. Important Disclosures: 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 information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy. Sources https://www.marketwatch.com/story/almost-half-of-millennials-say-that-their-credit-scores-are-holding-them-back-2018-07-16 https://www.credit.com/credit-reports/how-credit-impacts-your-day-to-day-life/ https://www.businessinsider.com/how-your-credit-score-can-impact-your-life-2016-5 https://www.experian.com/blogs/ask-experian/research/how-baby-boomers-have-top-credit-scores-and-tons-of-debt/#:~:text=When%20it%20comes%20to%20credit,points%20higher%20than%20Gen%20Xers.&text=%22If%20debt%20is%20being%20well,not%20tank%20your%20credit%20scores.%22 Content Provider: WriterAccess LPL Tracking 01-05046274

Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key information you need when preparing this year's taxes. Your Personal Information The personal information you may need to file taxes may contain information from your prior year's return, including: Your Social Security Number (SSN), along with SSNs for your spouse, if applicable, and any dependents Last year's Adjusted Gross Income (AGI) if you're e-filing your taxes and need to confirm your identity Any tax filing PIN you may have. Your Income Information Your tax return typically requires documentation for all the taxable income you received the previous year. W-2 forms 1099 forms 1099-MISC for contract employees 1099-K for those who receive payment through a third-party provider like Venmo or Paypal 1099-DIV for investment dividends 1099-INT for investment interest 1099-B for transactions handled by brokers Receipts, pay stubs, or any other documentation on income that isn't otherwise reflected. Your Deduction Information Next, gather information on deductions that help reduce your overall tax burden. These include, but aren't necessarily limited to: IRA and other retirement contributions Medical bills Property taxes Mortgage interest Educational expenses like college tuition or student loan payments State and local income taxes or sales taxes Charitable donations Dependent care expenses Classroom expenses (for teachers) There are other state-specific deductions that may apply to your situation. Your Tax Credit Information Credits may further decrease your tax burden. Unlike deductions, which may lower your taxable income, tax credits simply credit you a portion of what you'd otherwise owe. Some available tax credits may include: Earned Income Tax Credit Child Tax Credits Dependent Care American Opportunity and Lifetime Learning Tax Credits The Saver's Credit Often, the information needed to receive these tax credits may be duplicative of other tax information. For example, having your retirement contribution records handy may support both an IRA deduction and the Saver's Credit (if you qualify). Having your child's SSN may allow you to fill out the Child Tax Credit section and the dependent care deduction. The more income- and deduction-related information you have in one spot, the more streamlined your tax prep process should be. Your Tax Payment Information Finally, gather and provide information on how much you've already paid in taxes, whether through estimated tax payments, income withholdings, or both. This helps you quickly calculate your total amount due once you've entered your income, deduction, credit, and withholding information. Important Disclosures: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy. This article was prepared by WriterAccess. LPL Tracking # 1-05206790 Source: https://www.nerdwallet.com/article/taxes/tax-deductions-tax-breaks

Retirement is a major transition point – as you go from saver to spender It's common for people who are retiring to set their retirement date in either the springtime or the early summer. If you happen to be one of those lucky folks who are going to retire this year, then "Congratulations!" But before you start planning your retirement party, make sure you do these four things if you're retiring next year. Don’t Leave Money on the Table. As part of your employment, you may be entitled to "matching" and/or "profit-sharing" contributions from your employer to your 401(k) or other retirement plan. Since you typically need to be actively employed on the date the payment occurs to receive these funds, make sure you understand these terms prior to setting your final work date. You don't want to miss out on "free" money! For personal contributions, you may want to increase your contribution percentage to help you reach your annual maximum. Many employers cap the amount you can contribute to your plan from each paycheck. Since you may not be able to increase your contribution rate to 100% for your last couple of paychecks, you may need to instead increase your contribution percentage long before you retire to max out. Your pension benefits are calculated based upon your earnings history. Consequently, you will want to align your retirement date with the timing of your annual compensation adjustment, because retiring before that date could cause you to miss out on including another year of higher compensation in your pension calculation. On a similar note, it's important to understand the timing and eligibility requirements for any bonus payments you may receive. Most people are required to be gainfully employed at the time the bonus is paid in order to receive it. If you do happen to leave before this date, you may be able to negotiate benefits as part of your retirement agreement. Unused vacation days are typically paid out as part of your final paycheck. This can be a problem when you have an exceptionally large amount of time off, as the large lump sum could push you into a higher tax bracket. If you are planning to retire near the end of the year, take vacation time when you planned to retire, which may enable you to push a hunk of your remaining "vacation wages" into the next year and help minimize the ripple effect from a large, one-time payment. Refresh Your Risk Profile. Retirement is a major turning point in your life. It's not just the transition from full-time work to either part-time or no work at all. It's also the transition from saver to spender, where you face the reality of spending down your retirement nest egg. In addition, your asset allocation may be more heavily weighted in stocks than you initially intended. Rebalancing your investments is a good idea during your working years, but it's even more critical to keep things in balance once you retire. Since you'll be drawing down your savings to finance your retirement, having too much of your portfolio in riskier assets like stocks leaves you vulnerable to a potential market downturn. Before you rebalance, keep in mind that you may incur tax liabilities and/or transaction costs, and rebalancing does not assure a profit or protect against a loss. Avoid Underpaying Your Taxes. When you're working, your employer automatically withholds taxes from your paycheck unless you opt out to reduce (or increase) this amount. In retirement, the opposite is true. By default, taxes are not withheld on your retirement income. Instead, you must opt in to have taxes withheld from your Social Security benefits, pension benefits and IRA/401(k) distributions. If you don't have taxes withheld, estimated tax payments (federal and state) will likely become a necessary part of your life. Imagine you and your spouse are planning on having $150K in retirement income ($50K of Social Security benefits, $25K of pension benefits and $75K of traditional IRA distributions). For federal taxes, you'll need to pay about $5,500 every quarter ($22K annually) in estimated tax payments. Failing to do so will leave you with approximately $500 in underpayment penalties. Opting in to have taxes withheld from your retirement income will help you dodge penalties from late payment on taxes and avoid the uncomfortable feeling of writing large checks to the IRS. Talk With Your Spouse. It's worthwhile to have a good idea of how you're going to spend your newfound free time in retirement. Many will give a "deer in the headlights look" when asked what an ideal day in retirement looks like both today and a year from now (after the initial retirement buzz disappears). They were unprepared for the prospect of converting 40+ hours "in the office" into 40+ hours of meaningful activity. At the same time, they also lacked a plan for spending time with their spouse. After all, one or both of you have regularly worked for the past several decades. Retirement creates a brand new dynamic that removes the element of scheduled separation. Instead, you're going to be stuck (blissfully) with each other. How will you spend that time? Volunteering? Working around the home? Traveling abroad? Creating a plan for staying busy that both you and your spouse agree on will help ensure that your golden years are sweet, not bittersweet. The Bottom Line Taking the plunge into retirement is a monumental milestone. It's important that you're ready for it. Ask yourself and/or your financial professional the following questions to help you evaluate your retirement readiness: Do I have a robust understanding of my employer's benefits plans? What effective (non-marginal) tax rate should I use when setting up withholding on my retirement income payments? Navigating your retirement journey requires that you and your financial professional have confident answers to these questions. If you lack clarity, seek professional guidance that can help you determine if you are on track with your financial plan and the pursuit of your long-term goals. Important Disclosures This material was created for educational and informational purposes only and is not intended as ERISA or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material. Asset allocation does not ensure a profit or protect against a loss. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. This article was prepared by FMeX. 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