Is Your Child College Bound?

For many of us, college was a transformative chapter filled with learning, growth, and the beginnings of lasting friendships. It’s also where career paths begin to take shape, making it one of the most significant investments you can make in your children’s future.

There is nothing a parent wants more than the best education for their children, and it’s never too soon or too late to start planning. To help support your children’s educational goals, consider these five important steps:

Discuss how you’d like to support your child’s education. Before crunching numbers or filling out FAFSA forms, take a moment to step back and have a thoughtful family conversation about what college support means to you. Every parent brings different values, beliefs, and experiences to the table. Some parents prioritize fully covering tuition so their children can graduate debt-free. Others feel it’s important for their children to contribute, whether through work, loans, or scholarships, so they have some “skin in the game.” In some families, grandparents or other relatives offer to help, while in others, loans may be the only realistic path. There’s no one right answer. What matters is clarifying your family’s intentions, limitations, and hopes around paying for college. This shared understanding is the foundation for building a plan that aligns with both your financial reality and your core values.

Set your savings target. When planning for your child’s future, it’s important to consider how much a college education might cost by the time they’re ready to enroll. As of 2025, the average annual cost of attendance is $25,668 for in-state public colleges and $60,358 for private universities.¹ However, these figures are just averages, actual costs can vary widely. In fact, attending a top-tier private college can cost nearly $100,000 per year.² Should college attendance be several years away, be cognizant that tuition and related expenses are expected to rise, which often outpace the rate of inflation.

Many parents ask if they should save the full amount. While we all hope our children might earn a generous merit scholarship, become standout athletes, or contribute financially themselves; planning to cover the full cost remains the most reliable strategy for meeting your family’s education goals. Your Crestwood team can work with you to create a personalized financial plan that incorporates college savings as part of your overall wealth strategy.

Choose how to save. There are several college savings options to consider, including:

Invest the assets. Your Crestwood team can help you invest your college savings using an asset allocation strategy tailored to your children’s timeframe and educational goals. We will also work with you to reassess your strategy over time, as your children get closer to college enrollment or if they graduate with leftover funds.

Reach Out to Crestwood. When the college acceptance notices arrive, will you be ready to pay the bill? Turn to your Crestwood team for guidance on college savings as part of your comprehensive wealth plan. The sooner you begin planning, the better.

If you are not yet working with Crestwood, please contact us to start a conversation about college planning and your broader wealth management goals.

 

This document is provided for general informational purposes only by Crestwood Advisors, an investment adviser. Crestwood Advisors does not provide legal advice, and this document should not be construed as containing legal advice. For legal advice, consult with a licensed attorney. This document should not be construed as containing tax advice. For tax advice, consult with your tax adviser.
Source1: College Cost Projector, MEFA
Source2: Elite College Annual Pricing, EdSource
Source3: How Different Assets Affect Financial Aid, Saving For College
Source4: 529 Grandparent Loophole, Kiplinger

Examining Concierge Care

“The greatest wealth is health” is a timeless insight often attributed to the Roman poet, Virgil.

Prioritizing a healthy lifestyle, including preventive medical care, not only enhances your well-being but also allows you to fully enjoy the wealth you’ve worked hard to build. One question we often hear from clients is, “Is concierge medical care worth the investment?”

Concierge medicine, also known as retainer-based medicine, was introduced in the mid-1990s as a way for doctors to reduce their case load and provide a more customized and exclusive healthcare experience.1 In exchange for an annual fee, you gain special access to your physician and a more in-depth level of care.

To determine whether concierge medicine is right for you, consider these three factors:

  1. The Benefits: Concierge physicians offer 24/7 access via cell phone, email, or text, same- or next-day appointments, and longer, unhurried visits. With fewer patients to manage, concierge doctors have more time to focus on wellness planning and proactive management of chronic conditions—tailoring care specifically to your needs and lifestyle. They also facilitate connections to, and relationships with, specialists you need to see.
  1. Your Needs: If immediate access to your doctor is a priority or you have complex healthcare issues that require dedicated oversight, a concierge practice can provide the level of service you need. It offers added convenience that busy professionals often appreciate and a deeper level of care.
  2. The Cost: While the benefits of concierge medicine are many, it’s important to consider the cost. The annual (or monthly) fee varies by practice, typically ranging from approximately $1,200 to $10,000 per year,2 and can increase as you age. In some practices, the fee covers all well and sick visits. However, many concierge practices take a hybrid approach—by providing greater access but billing your insurance for each visit. In either scenario, you need health insurance to pay for services (such as hospitalization) not covered under their plan.

Reach Out to Crestwood

Crestwood takes a holistic, forward-looking approach that focuses on your well-being. Please reach out to your advisory team if you’d like to factor the cost of concierge care into your financial plan. And if you are not yet working with Crestwood, please contact us to start a conversation.

 

1 A literature review on the impact of concierge medicine services on individual healthcare, National Library of Medicine, June 14, 2024
2 What Is Concierge Medicine And Is It Worth The Price Tag? Forbes, May 18, 2023

This document is provided for general informational purposes only by Crestwood Advisors, an investment adviser. Crestwood Advisors does not provide legal advice, and this document should not be construed as containing legal advice. For legal advice, consult with a licensed attorney. This document should not be construed as containing tax advice. For tax advice, consult with your tax adviser.

May Economic Update: This Uncertainty (Too) Will Pass

Uncertainty around economic policy has become a defining feature of recent economic and financial market news. This heightened period of ambiguity has been extreme and is affecting financial markets and expectations for the future of the economy.

Investors and businesses are operating with limited information during the current “pause” in tariff activity. However, we anticipate the current lack of clarity to subside as specific details surrounding trade policy emerge leading up to the July 9th deadline. The U.S. economy has demonstrated resilience through this rocky period, with higher-than-expected job growth and a continued abundance of job openings.

Measuring the Unknown
Economists are a clever bunch and have developed tools to measure uncertainty, including scanning top news articles and counting usage of similar terms. It is no surprise that this sentiment affects decisions around consumption, investment, hiring and even monetary policy.

As measured by the U.S. Economic Policy Uncertainty Index1, the numbers spiked around tight presidential elections, the Gulf Wars, the 9/11 attacks, during the COVID-19 crisis and more recently, the 2025 Trump Tariffs. The gray boxes on the chart below indicate recession periods, illustrating a correlation between economic uncertainty and financial distress.

Uncertainty is Temporary
We expect continued volatility in the markets until economic policy mandates and goals become clearer, and consequences become more predictable

However, as long-term investors, we understand that while “fiscal fog” may persist for a time, it is not permanent. History has shown that markets often respond favorably once a measure of predictability returns.

Case in point: the size and scope of the Liberation Day tariffs caught investors off guard, causing stock prices to fall. In an unusual move, bond prices also declined. However, the subsequent announcement of the 90-day “pause” to allow time for international negotiations quickly restored order to the markets. In the weeks that followed, many stocks recovered to pre-Liberation Day levels. In fact, the S&P 500 finished April down only 0.7%.

As we navigate these turbulent market waters, it’s helpful to remember a time-tested investing maxim: “Where there is Volatility, there is often Opportunity.” Attractive investment opportunities can emerge during periods like these, when some investors trade quickly based on emotion rather than staying focused on data and analysis.

Patience and discipline tend to pay off in the long run.

Capital Markets
Equities were mixed in April. The S&P 500 fell sharply following the Liberation Day announcement, but recovered after the “pause” to finish down 0.7%. The All-Country World Index (ACWI) rose slightly, finishing up 0.77%. Developed international equities, as measured by the EAFE index, had a strong month, rising 4.17%. Emerging market equities increased by 1%. Bonds were nearly flat, posting a 0.39% gain.


Source: Bloomberg. ACWI is the MSCI All Country World Index, EAFE is MSCI EAFE Index, Emerging Markets is MSCI Emerging Markets and U.S. Bonds is Barclays U.S. Aggregate. Small Caps is the Russell 2000. The above information is as of 4/30/2025.

At Crestwood Advisors, we’re passionate about guiding our clients toward their long-term goals, easing their concerns, and helping them make the most of the opportunities that wealth brings. If you are not yet working with Crestwood, we would love to start a conversation!

 

1The U.S. Economic Uncertainty Index was first introduced by Scott Baker, Nicholas Bloom, and Steven Davis in an NBER Working Paper Series, Measuring Economic Policy Uncertainty, Working Paper 21633, published by the National Bureau of Economic Research. http://www.nber.org/papers/w21633

It Takes a Village

More than 3 million children in the U.S. live with disabilities.* If you have a loved one with special needs, you have likely asked yourself, Who will care for them when I no longer can? How can I be sure they are supported, and their unique needs are being met?

One of the most important steps you can take is to create a strong support network, people who understand your challenges and are genuinely committed to assisting you and your family. And communication is key.

Your Crestwood team is here for you, always.

We understand that families may hesitate to ask questions or share concerns during meetings with their advisors. These conversations can be deeply personal and, at times, difficult. But avoiding them can lead to unintended consequences for the very people you are working to provide for and protect.

By opening up and sharing key details about your loved one’s unique needs, you empower your Crestwood team, and other trusted advisors and advocates, to offer thoughtful, informed and comprehensive guidance.

Crestwood helps you address your complex wealth planning needs in a number of ways, including:

  • Protecting what matters with an estate plan: We work with you and your estate planning attorney to make sure you have the appropriate estate planning documents in place, including wills, powers of attorney, healthcare documents, revocable trusts, and whatever additional trust vehicles that might be advisable, i.e., special needs trusts, irrevocable gifting trusts, etc. We can also help ensure that well-meaning family members craft their estate plans with the special needs beneficiary in mind.
  • Choosing the right fiduciary: Families often appoint a sibling, other relative, or friend as a trustee and/or guardian. However, putting a loved one in this situation can create undue hardship and resentment. We sometimes suggest that families consider using an independent third party to serve as fiduciary to help alleviate some of the burden. Another possibility is a hybrid approach, where an independent fiduciary serves with a family member as co-fiduciaries. Your Crestwood team can facilitate family conversations about your loved one’s care and recommend the approach that works best for you and your family.
  • Creating financial clarity: Your family’s financial health starts with you. In addition to helping you plan for the care of your loved one, Crestwood will create your personalized wealth roadmap to guide your financial future.

Reach Out to Crestwood

If you have a loved one with special needs, you want the peace of mind that they will always be provided for and protected. Although you will always be your loved one’s biggest advocate, Crestwood is by your side to help every step of the way, because sometimes it takes a village.

If you have any questions about financial planning for you and your family’s unique needs, please reach out to your advisory team. And if you are not yet working with Crestwood, please contact us to start a conversation.

 

This document is provided for general informational purposes only by Crestwood Advisors, an investment adviser. Crestwood Advisors does not provide legal advice, and this document should not be construed as containing legal advice. For legal advice, consult with a licensed attorney. This document should not be construed as containing tax advice. For tax advice, consult with your tax adviser.

 

 

*United States Census Bureau

Crestwood Advisors Named to USA Today’s 2025 Best Financial Advisory Firms List

BOSTON (May 1, 2025) – Crestwood Advisors (“Crestwood”), a boutique investment advisory and wealth management firm based in Boston with offices in Connecticut and Rhode Island, is pleased to announce it has been named to the USA Today ranking of Best Financial Advisory Firms in the U.S. for 2025.

“We are honored to be recognized by USA Today as one of the nation’s best financial advisory firms,” said Crestwood President and Managing Partner Leah R. Sciabarrasi, CFP®. “This acknowledgment is a testament to the hard work, dedication and personalized service our team provides to clients every day.”

This prestigious ranking, compiled in partnership with market research firm Statista, highlights the top 500 Registered Investment Advisors (RIAs) across the nation.

More than 30,000 companies were evaluated based on key criteria, including the growth of assets under management (AUM) over both the short and long term, as well as the number of recommendations received from clients and peers.

This recognition reflects Crestwood’s continued growth, strong client relationships and its ongoing commitment to delivering tailored advice and solutions that help clients achieve their long-term goals.

The full methodology for the Best Financial Advisory Firms 2025 list can be found here. Crestwood did not pay a fee to appear on the published list.

 

About Crestwood Advisors
Crestwood Advisors is an independent, fee-only, wealth management firm with approximately $7.02 billion in assets under management as of December. Founded in 2003, Crestwood Advisors provides investment management with financial planning strategies to help high-net-worth individuals and families identify and prioritize their goals and build sustainable wealth so that they may enjoy more financially secure and purposeful lives.