George Hosfield, CFA, discusses Ferguson Wellman's quarterly strategy titled, "Inflation's Flame Flickers," which addresses the narrow market leadership, the impact of higher interest rates on inflation and how assets are priced at this stage of the economic cycle.
George Hosfield, CFA, discusses the firm's quarterly strategy titled "Stalemate," which highlights the Fed's ongoing battle to tame inflation along with our views on the health of the banking industry and capital market expectations for the balance of the year.
Director and Chief Investment Officer George Hosfield, CFA, discusses the Fed raising interest rates, peaking inflation and our view on equities and volatility across all asset classes in our Investment Strategy titled, “Balancing Act.”
Originally appeared on Bloomberg.com on September 28, 2016
Stumpf’s Pay Cut Eclipsed by Fury as Yellen, State Join In
Wells Fargo & Co. Chief Executive Officer John Stumpf gave up $41 million to buy a reprieve from the bank’s widening scandal.
PORTLAND, Ore. – Ferguson Wellman Capital Management and West Bearing Investments were recently named by Financial Times to their “FT 300 Top Registered Investment Advisers” list.
According to their detailed methodology, the RIAs are first examined via the RIA database an
July 12, 2016 – Ferguson Wellman Capital Management has been named by Financial Advisor magazine as a top investment company.
Financial Advisor named Ferguson Wellman 45 out of 205 U.S. firms in the $1 billion-and-over asset category of their registered investment adviser (RIA) rankings. Ferguson Wellman is the
PORTLAND, Ore. – July 8, 2015 – Ferguson Wellman Capital Management and its division, West Bearing Investments, are pleased to announce that the firm has been named by Portland Business Journal as top money managers in their 2016 Wealth Management and Financial Services Guide.
Ferguson Wellman is pleased to announce that Michael Garcia has joined the firm as chief technology officer. He is responsible for strategic planning and implementation of all information systems and related hardware, integration of all existing and new operation systems and management of all technology vendor relationships.
Julie Cooling from Forbes’ RIA Channel, meets with Mark Kralj, principal and portfolio manager. They discuss Ferguson Wellman’s investment platform and strategy as well as why we work with individual securities.
Judith and Cliff Allen have owned the modest Marcus Apartments in Portland's Irvington neighborhood since 1979. They personally know their 10 tenants, many of whom have lived there long-term and pay rents that these days are below the market rate. The building is 50 years old, but the renters like having hands-on landlords, said the Allens, who live in Clackamas County.
This month, Alaska Airlines Magazine includes an article on page 85 titled, "What Kind of Investor Are You?" Quotes from George Hosfield, CFA and chief investment officer, can be found on page 94 of this digital edition of the publication. Click here to access the magazine.
“It was a tumultuous end to 2015 with the stock market and the GDP coming out lower than expectations,” said Kellie Holloway, Senior International Trade Specialist with the U.S. Commercial Service.
Portland’s commercial and residential real estate markets are on fire. Home prices and apartment and office rents are soaring, and even with a full pipeline of new multifamily and commercial office buildings coming online in 2016, the consensus is that demand will not be sated.
Lane Community College student body President Ashley Jackson, standing in front of more than 200 people on the second floor of the college’s Center Building on Wednesday afternoon, smiled as she thought about what she won’t miss
Speaking before a packed Portland Business Alliance audience, economist John Mitchell predicted that the region’s economy will continue to expand at an annual rate of about two percent through 2016.
A cast iron mechanical bank is a fitting symbol for Ferguson Wellman Capital Management. The Portland investment firm, which this year is celebrating its 40th anniversary, manages more than $4.3 billion for 743 wealthy clients and is known for strength, solidity and an approach to investing that steers away from risk. Not surprisingly,
For investors, this year started with more than a passing resemblance to 2015, according to executives at Portland-based investment firm Ferguson Wellman Capital Management.
At the firm’s annual investment outlook Wednesday at Deschutes Brewery, in Bend, two Ferguson Wellman vice presidents advised cautious optimism. They took their theme from the
PORTLAND, Ore. – January 18, 2016 – Ferguson Wellman Capital Management is pleased to announce that the firm has been named by Oregon Business Magazine as a top financial planner/manager in their annual Power Book publication.
The slowing Chinese economy is ripping through markets, but Ferguson Wellman Capital Management is telling clients not to worry too much because the U.S. economy remains strong.
PORTLAND, Ore. – January 8, 2016 – Ferguson Wellman Capital Management was recently informed that the firm was named by Financial Planning to their “Top 150 Registered Investment Advisers Firms.”
PORTLAND, Ore. – December 10, 2015 – Ferguson Wellman Capital Management is pleased to announce that the firm has been named by Portland Business Journal as a “Most Admired Company.” Of the 10 financial services companies listed in the top tier the firm was ranked third. This is the 11th consecutive year that the company has been selected. The list is compiled by surveying over 3,000 CEOs across the state of Oregon and southwest Washington. CEOs were asked to select three companies they most admired in eight industries, as well as three companies they most admired across all industries. Companies eligible for consideration were not limited to those based in Oregon and southwest Washington, but included any business with a substantial presence in the region.
“We are honored to have been selected, along with many other companies that we respect and admire throughout our region,” said Mark Kralj, principal.
Founded in 1975, Ferguson Wellman Capital Management is a privately owned registered investment advisory firm, established in the Pacific Northwest. As of 2015, the firm manages over $4 billion for more than 700 clients that include individuals and families; Taft-Hartley and corporate retirement plans; and endowments and foundations with portfolios of $3 million or more. West Bearing Investments, a division of Ferguson Wellman, serves clients with assets starting at $750,000.
(data as of January 1, 2015)
PORTLAND, Ore. – December 10, 2015 – Ferguson Wellman is pleased to announce that Mary Lago, CTFA, has joined the firm as executive vice president and a member of the firm’s wealth management committee.
With more than 15 years of experience in the financial industry, Lago came to Ferguson Wellman after working at Washington Trust Bank as vice president and regional manager for wealth management and trust services. At Washington Trust and at previous employers, she worked in personal trust administration and trust management. She began her career in the 1990s in Silicon Valley during the technology boom, later establishing the trust company at First Republic Bank. Lago has expertise on the topics of charitable planning in a low interest rate environment, selecting a trustee, establishing investment policy guidelines, managing cash flow and charitable giving components on installment sales and assisting clients with multi-generational wealth transfers. She is a frequent speaker for the Oregon State Bar and other organizations on the topic of estate and trust planning. Lago is a certified trust and financial adviser and graduated from Linfield College with a B.S. in business administration.
“Mary has significant experience working with investment management and trust services,” said Steve Holwerda, CFA, chief operating officer and principal at Ferguson Wellman. “She is a proven leader and shares our core values. We are looking forward to her joining our team, serving clients and focusing on company growth.”
Founded in 1975, Ferguson Wellman Capital Management is a privately owned registered investment advisory firm, established in the Pacific Northwest. As of 2015, the firm manages over $4 billion for more than 700 clients that include individuals and families; Taft-Hartley and corporate retirement plans; and endowments and foundations with portfolios of $3 million or more. West Bearing Investments, a division of Ferguson Wellman, serves clients with assets starting at $750,000. (data as of January 2015).
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Oregon Bankers, Businesses Await Fallout from the Fed Rate Hike
by Andy Giegerich
Portland banking leaders have steadfastly agreed that the prospect of a higher federal funds rate, the figure set by the Federal Reserve by which other interest rates are set, won't affect commercial lending.
After the Fed pulled the trigger on a hike, it's now time to find out whether that'll remain true.
Linda Williams noted even with the hike, interest rates "are still low and attractive from a borrowing perspective.”
The Federal Reserve on Wednesday said it would raise the figure, and by extension short-term interest rates, by 0.25 percentage points. The rate will now range between 0.25 percent and 0.50 percent.
The Federal Reserve announced the decision Wednesday morning. The body had been expected to boost the rate in October.
"Household spending and business fixed investment have been increasing at solid rates in recent months, and the housing sector has improved further; however, net exports have been soft," Fed officials said in a statement announcing the hike.
"A range of recent labor market indicators, including ongoing job gains and declining unemployment, shows further improvement and confirms that underutilization of labor resources has diminished appreciably since early this year. Inflation has continued to run below the Committee's 2 percent longer-run objective, partly reflecting declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation remain low; some survey-based measures of longer-term inflation expectations have edged down."
The Federal Reserve hadn’t raised the benchmark interest rate for seven years, holding it near zero since 2008. Today's decision earned unanimous approval from the Fed, including an endorsement from Chair Janet Yellen.
Locally, at least one financial services firm reacted with a shrug.
"This was certainly the most talked about and anticipated Fed rate hike in history," wrote Ferguson Wellman Capital Management advisers. "As such, anticipated events become nonevents to the markets."
Specifically, the bond market was a bit lower while stocks were up 1.5 percent.
"The economy is robust enough that the Federal Reserve wants to 'tap the brakes' to keep the economy from overheating," the advisers wrote. "Ultimately, this rate hike should be interpreted as good news for the markets and economy."
We asked a few local bankers about the rate increase possibility in September.
“The anticipated interest rate increase hasn’t had an immediate effect on the Oregon middle market," said Ralph Hamm, Wells Fargo's commercial banking manager for Oregon.
"The common sentiment is that an increase is long overdue. A small interest rate uptick would send a positive message that our economy is improving, which is also supported by local signs of growth.”
Linda Williams, president of Washington Trust Bank's Oregon region, agreed.
"Commercial loan demand remains solid and financial institutions are actively competing for business," she said. "Any impact from interest rate increases will probably not occur until several interest rate increases have occurred. By historical standards, interest rates are still low and attractive from a borrowing perspective.”
However, Rick Roby, president and CEO of Premier Community Bank, fears that the boost could "raise the cost for businesses and could possibly cause a contraction of borrowing which over time will slow the economy. This type of environment creates more intense competition for acceptable credits."
Late last month, Dave Lofland, KeyBank's market president for Oregon and Southwest Washington, accurately predicted that the Fed wouldn't make any sharp hikes.
"For that reason, we don’t think any rate hike will be a serious impediment for the ability to borrow," he said.
"For many companies, their challenge isn’t the interest rate but what to do with their cash. The industrial side of the economy continues to struggle. It’s not pointing necessarily to a recession, but it’s made businesses more cautious. Many businesses have just struggled to deploy cash so they’re sitting with cash on the sidelines or capacity on their loans without industrial projects to go after."
