Former Wells Fargo Advisor Opens Kingsview Partners Office in Milford, CT
Opening their newest office in Milford, Connecticut, Kingsview is excited to welcome Partner and Wealth Manager Chris Wright, who brings 25 years of industry experience to the firm.|
Originally from Connecticut, Chris attended Union College in Schenectady, New York, majoring in Political Science and Economics. After beginning his career with Nathan & Lewis, Chris moved to the Wells Fargo family of companies in 1997 and built his practice there over the next 25 years.
Chris works with individuals and families, forming personal relationships that transcend generations and help people plan for short-term and retirement needs. He prioritizes generational continuity and believes that communication – and an honest, straightforward plan – serve as the building blocks for financial success.
When not at work, Chris enjoys spending time with his wife Jackie and his four children: Samantha and her husband Joey, David, Christopher, and Matthew. He also enjoys cooking and time spent outdoors, particularly at the beach.
“Kingsview is pleased to welcome Chris, with his impressive professional experience and client-focused philosophy, as a Partner and Wealth Manager,” says Chief Executive Officer Sean McGillivray. “Our industry has done a poor job of engaging clients and delivering on the promises they make. Chris’s strong desire to elevate the standard of care for his clients continues to advance our goal of transforming the industry.”
Kingsview’s newest office is located at 1 Springdale St., Milford, CT, 06460. Chris Wright can be contacted at (475) 549-0859 or firstname.lastname@example.org.
Kingsview CIO Scott Martin discusses the resiliency of the market, and a positive outlook for 2022. He also discusses the cruise lines and airlines, plus the news for Peleton.
Program: Making Money with Charles Payne
Station: Fox Business News
ASHLEY WEBSTER: Well, markets are slightly lower and have been that way since the opening bell on this very last trading day of the year. But that said, all three major indexes are expected to finish 20 21 with some serious gains and on the precipice of new record highs. So did the Santa Claus rally deliver to expectations? Let’s bring in our market panel today from Kingsview Wealth Management Scott Martin. Great to see you, Scott. And the chief market strategist at Cross Mark Global Investments, Victoria Fernandez, Victoria. Good afternoon to you. Let me begin with Scott, though, Scott. How are we feeling about the markets as we wrap up Twenty twenty one.
SCOTT MARTIN: Not a bad gift from Santa Claus? Actually, I mean, if you go back a couple of weeks ago, three weeks ago, everybody was panicked, coming in to the end of the year. I mean, this is going to be the big unwind, right? As you mentioned the lead in there of this big rally we’ve had and it didn’t happen. And that’s frankly, because that’s typically what happens in market psychology actually is when people start calling for the experts, quote unquote start calling for the great roll over. It doesn’t happen and the market goes back in their face. So I think we should be relatively full of gratitude with what happened here because the market has shown itself to be very resilient and being able now to push through a lot of these same old problems that we’ve laid out with, say, the COVID variant with promises of tax hikes and things from the Federal Reserve as well that were scary for the markets, ones seemed to not be scaring us anymore. There’s a lot to be positive about going into twenty twenty two, in my opinion.
WEBSTER: All right, Victoria, know we’ve had a lot of analysts say, look, you can expect higher interest rates next year. You can expect lower stocks and you can certainly count on volatility. Would you agree?
VICTORIA FERNANEZ: Yeah, I think actually all three of those are probably accurate. I mean, you know, Santa Claus came in with a bang and we’ve been a little lackluster the last couple of days. But the Santa Claus rally should continue into the first couple of trading days of next year. Then we start to refocus and look at some of these items you’re talking about. We do think rates will go up on the longer end. We think there’ll be some consolidation in the equity markets as the Federal Reserve starts to lay out their plan of when they’re going to raise interest rates. And that’s going to cause some volatility. So I think we can anticipate that for twenty twenty two.
WEBSTER: All right, Victoria, I’m going to follow up with you, talk about the cruise lines, the CDC simply says, don’t go crazy, crazy, you know, cruising these days. So where do these and other reopening stocks go from here? I know that’s difficult to predict, but what do you think?
FERNANDEZ: Yeah, I’ll have to look into my crystal ball and see what it tells me, but I think one of the things we’ve always talked to our clients about is don’t make a huge play on pure reopening trades, right? Look at the longer term perspective in these names and see if it’s a business model you like. Let’s see if there’s growth potential. Look at the balance sheets of these companies. It’s what we always talk about for cruise lines. It’s not a place where we want to be right now and we’re not in airlines right now either. I think you can look at the reopening trade more towards the consumer side in regards to consumer discretionary and some consumer staples. I would stay away a little bit more from those highly volatile names of cruise lines.
WEBSTER: I’m going very good, Scott, to you. Yeah. Scott Peloton sliding on a downgrade. Well, one of the great pandemic stocks being able to turn it around or is it more bad news for Peloton?
MARTIN: I hope so because I own some and I own some low. So that’s OK. You know, gosh, though, what an interesting tale actually for Peloton these days. I mean, you know, talk about when you think you hit rock bottom when the girls from Sex and the City take shots at you and then you get downgraded after that. So I think the bad news, I mean, look, the bad news is pretty much everything has happened to Peloton that can possibly happen, right? I mean, maybe the the girls of the View are going to attack them or something. The point is there’s there’s bad news and a lot of stocks right now to Victoria’s point. Same with the cruise lines. At some point the airlines, too. You have to pick these up because it can’t get much worse. It feels horrible. Don’t get me wrong, but I think Peloton is a buy here now.
WEBSTER: All right. Victoria, very good. Scott Victoria Treasury yields dipping today. They’ve been a bit of a yo yo. The 10 year. Do you still like financials?
FERNANDEZ: We do like financials, it’s one of our favorite sectors going into twenty twenty two. We actually think the the longer into the curve has been probably mispriced a little bit when you look at where inflation has been, when you look at where credit spreads are. And so we think that longer into the curve will start to move higher. But it’s not the only reason we like financials. Their balance sheets have been extremely strong, especially compared to where they’ve been historically. We think there’s going to be some long growth. And look, the financials have been hit. They’ve taken a hit the last month or so. So it’s a good place to go in, especially for the big money center banks and maybe start a position if you don’t have one already.
WEBSTER: Very good, we’ll have to leave it right there, folks, but Victoria and Scott Speller stuff, thank you so much for joining us and a happy new year to you both.
Kingsview CIO Scott Martin discusses the “war” on the oil industry, and what it means for gas prices and supply. He also talks about the current administration’s impact on businesses and new regulations.
Program: Cavuto Coast to Coast
Station: Fox Business News
DAVID ASMAN: The Biden administration’s push to solve inflation, meanwhile, by cracking down on businesses using antitrust violations, essentially blaming businesses instead of government for inflation may actually cause bigger inflation issues. This, according to a Democrat, former Treasury Secretary Larry Summers. He tweeted out quote the emerging claim that antitrust can combat inflation reflects science denial. There are many areas like transitory inflation where serious economists differ. But antitrust as an anti inflation strategy is not one of them. Joining me now is Kingsview Asset Management CIO Scott Martin and Point Bridge Capital founder and CEO Hal Lambert. Good to see you, gentlemen. Thanks for being here. Scott, you got to hand it to Larry Summers. So I mean, he’s going against the woke crowd on this one. That’s that’s brave to do for a Democrat.
SCOTT MARTIN: Looking outside the box, Larry, and thank you for
ASMAN: looking inside of this argument.
MARTIN: Well, yeah, inside, but then wanting to jump out of the box is David, as far as figuring out the right way to deal with this and we do have evidence. I mean, Larry Summers hit on some of the science of it. I mean, let’s just look at history in the last two year, the war that the Biden administration put on the oil industry let the closing of the pipelines, other special assessments, other rhetoric, other talk against the industry. And look, what’s happened to gas prices and supply. So if you look at it going forward, especially, you say the meat industry, could we just have the government to just leave the businesses alone? Look at what’s already happened to what the government has done for the businesses with respect to the COVID breakout? And now they’re going to come in with regulations and any kind of trapping, let’s say, on some of these businesses as far as how they should operate going forward looks terrible for the consumer. It’s going to drive up costs because supply is going to go down.
ASMAN: Hal, let’s face it, this is an anti-business administration. I mean, there’s no getting around it. There aren’t business people in the administration. I can’t think of one offhand. Maybe there are one or two, but I can’t see any and there does. There literally seems to be an anti-capitalist mentality. And also in an attempt to divert blame that they have their own responsibility for creating inflation through deficit spending and all sorts of things and putting it on the backs of businesses, right?
HAL LAMBERT: Oh, absolutely, I mean, this administration is filled with academics and lifelong bureaucrats that have never created a job in the private sector, none of them have, including the president and the vice president. So they don’t have a clue how to create jobs. So yes, they are trying to play the blame game and blame the businesses for their failures. It’s not going to work. And what Larry Summers is basically saying is, look, get off the campaign trail and get real. And let’s look at the real causes of this inflation. Now, I don’t I don’t agree with Larry’s assessment of it. He thinks it’s because we need to outsource more jobs to China and take tariffs off of China. That’s his solution for it. He thinks we have a worker shortage. Well, we do have a worker shortage because of the policies of this administration to basically create a universal income and pay people not to work. So we have a worker shortage that creates higher prices in labor and causes people to sit home. And they’re handing out money and people are spending money and it’s driving up prices because we don’t have a supply chain that can handle it. That’s the that’s the reason for this. It’s all their policies. And that’s that’s what they don’t want to admit. And they’re going to continue to play the blame game all through 2022 as we go into the next election.
ASMAN: All right. But very quickly, Scott, we only have about 10 seconds here, but there is a tool that scares me that they may pull out, and that’s price controls that always leads to shortages. Do you think they’re going to use that next?
MARTIN: I do insert awkward Kamala Harris laugh here, because any kind of price controls take away the free market, David, and that hurts consumers in the end.
ASMAN: Empty shelves. That’s what price controls lead to, gentlemen. We’ll be seeing more of you.
Kingsview CIO Scott Martin discusses the recent controversy around Elon Musk’s tax payment, and how small business owners are impacted by the current tax structure.
Program: Cavuto Coast to Coast
Station: Fox Business News
DAVID ASMAN: Well, Elon Musk selling yet another billion dollars worth of Tesla shares nearing his 10 percent target, Musk is expected to pay what is likely to be the largest individual tax bill in U.S. history. It’s nearing about $11 billion right now. Let’s bring back Scott Martin and Hal Lambert. So Hal? Elizabeth Warren still calling him a freeloader. It’s hard to call $11 billion free, is it?
HAL LAMBERT: Well, absolutely, I think Elon Musk did this deliberately. He’s the richest person in the world. He made a conscious decision to pay the highest tax bill that’s ever been collected by an from an individual in the history of the world. This has nothing to do with his view of Tesla stock, in my opinion. And I think ultimately, you know, this calls out the hypocrisy on the left because, you know, if you look at what’s happening, he could have borrowed against these shares and never paid tax. He could borrow at one percent or probably less. And that’s what a lot of these guys do. They ultimately never pay tax. They didn’t turn around and give it to a foundation, their own foundation when they die, and that money escapes tax altogether. Great. I think we ought to start taxing this if we if we looked out and said, Look, you know, Bill Gates or Warren Buffett, Warren Buffett said he’s going to leave all his money to the Bill and Melinda Gates Foundation, so he’s going to skate off and pay no tax when he dies. I don’t think that should happen. I mean, maybe we had to look at anything above 500 million is tax. Just like an estate tax, you pay 50 percent on that and then the rest can be left to the foundation. But ultimately, these go to these far left foundations that then are turned around and used to change the policies of the country and destroy the country. Well, it’s a circular game.
ASMAN: It is a circular game. It’s got the thing is, I’m not going to cry for help for the richest man in the world. Obviously, he’s still got billions left over. But again, to use a lie in order to make an ideological point, it’s just it’s just bad. It’s bad politics and it’s bad policy because, as Hal said, sometimes it leads to just the wrong kind of policy.
SCOTT MARTIN: It opens up Pandora’s box where you find out what’s really going on. Now this is going to be a Fox News alert. I agree with Senator Karen. I mean, Warren in respect of Elon Musk and some of these billionaires. Oops. And small business owners David and Hal don’t pay their fair share of tax. They pay more than their fair share because if you look at the tax code and look at what it does for, say, half of American households where they don’t pay any federal tax, a lot of those folks are some of the freeloaders that are out there. So if Elon Musk’s is paying what he’s paying, we should be thanking him for doing that. And like Hal said, doing what he’s doing right now and having Senator Warren attack him for it is making her look bad because it’s coming out in the wash as to what’s really happening here.
ASMAN: The top one percent pay 40 percent of all the federal income taxes, and you just can’t avoid that.
MARTIN: And that’s 20 percent.
ASMAN: Yeah, well, we’ll see.
LAMBERT: It’s at the top and the top one percent only collect 20 percent of the income, so they’re paying double in taxes of what they collect.
ASMAN: HAL, that’s a terrific statistic. All right, guys. Thank you very much. Great to see you have a wonderful new year.
Kingsview CIO Scott martin discusses the topic of vaccination and how it is affecting the job sector.
Program: Fox Business Tonight
Station: Fox Business News
BRIAN BRENBERG: Well, here now is Scott Martin, Kingsview Wealth Management Chief Investment Officer, he’s also a Fox Business contributor. Scott, great to see you. I got to tell you, I get really nervous when you’re blending penalties for unvaccinated people in terms of not being able to work. Plus unemployment benefits to pay them to stay out of work. This sounds to me like labor market wreckage, Scott. Is that how you see it?
SCOTT MARTIN: Yeah. Labor market, I guess rigging, really, Brian, and you’re right. I mean, so we complain about the fact that the government is forcing vaccines on folks, especially in the public sector, maybe the FAA and so forth. But then we’re going to want the government to get involved for those who don’t get vaccinated and then lose their jobs because of it. And there’s 10 million jobs, by the way, open in this country that are waiting for somebody to walk into him. And for somebody, Bryan, that again, I like your your take, though, in the segment about how it should be up to people’s choice, but you have to factor in all the consequences of such. I mean, I’m I’m double vaxxed. I’m boosted. I’ve been drinking out the toilet, by the way, for about three weeks now, so I am totally, totally protected from this, from this variant. But the reality is, I’m doing that because I make the choice and because I do want to come to work and I do want to be able to fly and things like that just in case something changes. And I think people need to take that information to heart before they make the decision on their job.
BRENBERG: You know it just to me, it’s crazy when you’ve got so many jobs available, you’ve got people who want to work. They probably have natural immunity. And instead of giving them the shot and letting people solve it at a local level, we’ve got all these conflicting policies that end up with people on the sidelines and unemployment benefits, frankly, that governments can’t afford, and that end up rewarding the wrong behavior. Scott, we got to move on, though.
Kingsview CIO Scott Martin discusses the gap between wage growth and inflation growth, plus the price of inflation at the grocery store.
Program: Fox Business Tonight
Station: Fox Business News
BRIAN BRENBERG: Well, let’s bring back Scott Martin Scott, I know you’re not buying cheaper cuts of meat, but we’re getting to the point where all these price hikes have to start really cutting into the health of the economy in terms of growth. Scott, we’ve seen a lot of spending. The economy has sort of held its own through all this. But at what point in next year the consumer has run out of steam? And businesses are stuck now with people not buying things because prices have gone up so much?
SCOTT MARTIN: Yeah, there’s a tipping point soon, and you can see that in some of the wage growth numbers vis a vis the inflation numbers. Brian, whether you look at CPI or the deflator within GDP because you start to see the gap widen between the wage growth and the inflation growth. Now you mentioned on what I’m spending my money on my man. Here’s the thing you talk about growth. The fact that all this stuff costs more is actually helping or alleviating the growth that I would usually be having in my waistline right now because I’m spending the same amount of money at the grocery store, but not eating as much. So it’s actually maybe doing some of us a favor. When we did it, we never dieted over the holidays. Now you’re kind of doing it by default.
BRENBERG: Well, apparently you can’t get into gyms anymore in places like New York unless you’ve got your vax card and all this stuff. So I guess the solution is paying more for your food. You won’t eat as much and maybe you are looking thin and good, my friend Scott. It’s always good to see you. Always good to get your perspective on the economy and all sorts of things. Thanks for showing up today.
MARTIN: See you!
Kingsview SVP Paul Nolte discusses what could be ahead in 2022. He talks about how many companies are buried with paperwork on Rollover IRAs and Roths, plus breaks down the financial markets’ “Santa Rally”.
Kingsview CIO Scott Martin discusses the state of our economy, the Omicron surge, wage growth and inflation.
Station: Fox Business News
GUY BENSON: President Biden today announcing an extended pause on federal loan payments until May of twenty two, claiming the COVID pandemic is the cause bit of an odd decision considering the administration seems to like promoting the idea that inflation and supply chain concerns are blown out of proportion. And despite lots of job openings all over the country, a new poll from Gallup shows 67 percent of Americans believe economic conditions are getting worse. A number not seen since the beginning of the pandemic. So what is the true state of our economy right now? Here to discuss is Fox News contributor Scott Martin of Kingsview Wealth Management. Scott, first we talk about this sweater. Was this a you purchase? Was this a lost bet? What happened here?
SCOTT MARTIN: Well, basically everything and guy, to be honest with you, my mom still dresses me because I need that kind of help and it’s on her. She picked it tonight. And so that’s it, man. But it’s kind of like it’s a mixture, though, right? Is it an ugly sweater? Is it a fugly one? Is it even a sweater? But it’s on tonight.
BENSON: It appears to be a sweater. I’ll leave it to others to decide whether it deserves the fugly moniker. Let’s talk about something that many people believe is ugly the economy. How’s that for a transition? The talking points have come down from the White House and they say We are better off as a country on all of these metrics than we were a year ago. Clearly, public opinion does not agree. Why?
MARTIN: Yeah, the economy is fugly to use the word, and maybe that’ll that’ll sweep the rest of the year here because it’s kind of like, you know, the more you drink, the better the economy looks. And that’s not a good thing because if you look at the data guy, since we’ve had even the resurgence in the Omicron variant or the newest variant, Macron or even just kind of this, this fallout from this big resurgence we had in the economy where we were growing it, you know, double digits of GDP and now we’re back to single digits in GDP and we’re really creating a couple hundred thousand jobs per month and wage growth is slowing it. Inflation is going crazy. I think a lot of folks out there are feeling what what we all do, which is the fact that inflation is way higher than what people’s wage growth is. So when you look at like how much people are making versus how much they can spend and how that affects consumer confidence. Inflation is way outpacing what we’re all taking home. So we’re losing kind of that gap against what things are costing. And then certainly the fact, too, that when you have the stock market that is as volatile as it is, you know, every given day the market is up or down a couple of percent. Some of our favorite companies are down five percent, up 10, down 15 and so forth. That puts together a pretty tough environment in which to operate as we end the year here.
BENSON: So you just outlined a lot of the reasons for pessimism, and that is, you know, that’s a sense shared by most Americans, obviously based on the data. What would be maybe one or two points on optimism, not pessimism, as you look forward into 2022?
MARTIN: Well, the fact, too, that there is probably going to be, as you have talked about with your panel, maybe less of a devastating impact from the latest variant. In the fact, too, that the problem is is that the psychological damage that I think the lockdowns and the regulations and just the curtailing of a lot of business activity, the psychological damage there is pretty high. So the fact that we’re going to get further away, hopefully when we get past this latest deal with Omicron. God willing, is that we’re going to have hopefully a chance to get the psychological part of us rebuilt. And I think that’s going to take some time. But once we start realizing that we can win against this variant and we can win against this virus, and hopefully people will be able to make their own choice as far as their health. I mean, if people want to get vaccinations fine, don’t do it. I have mine. I had my booster the other day. It’s fine. But if people do want to do that, that’s fine. But the fact that the government still feel like they need to take care of everybody on this hopefully allows people maybe down the road to make their own decisions and feel comfortable about going out in the world and doing what they want to do as far as economic activity.
BENSON: Now, of course, you have the president, as I mentioned at the top with this new extension on the moratorium on the loan payments. I mean, at some point you can’t keep using COVID in the emergency as an excuse in the term moral hazard comes to mind as well. It’s a policy we’ll be watching here. Scott, great to see you and your sweater. Thank you.
MARTIN: Thank you.
Kingsview SVP Paul Nolte discusses how the DOW is up and how the Federal Reserve just announced they will be buying less bonds and trimming their balance sheet to address higher than expected inflation reports.