Crestwood Advisors Named to 11th Spot on Top 50 Fastest-Growing RIAs List 2020

FOR IMMEDIATE RELEASE

Boston-based independent wealth advisory firm recognized for 2019 growth

Boston, Mass. (August 13, 2020) – Crestwood Advisors (“Crestwood”), a boutique investment and wealth management firm based in Boston, is pleased to announce it has been named No. 11 on Financial Advisor’s 2020 Top 50 Fastest-Growing Firms list.

The FA Top 50 list recognizes top independent wealth management firms from across the U.S. based on their yearly growth. In 2019, Crestwood completed two mergers with Connecticut-based firms, combining first with MacGuire, Cheswick & Tuttle Investment Counsel LLC in Darien and then Catamount Management Group in Westport.

These mergers allowed Crestwood to expand its regional footprint and achieve robust, organic growth as a firm. Crestwood’s team grew to 35 professionals managing $3.3 billion in assets on behalf of high-net-worth individuals and families.

Additionally, Crestwood was named No. 116 of 551 firms on FA’s 2020 RIAs ranking.

“We’re proud of the exponential growth we’ve achieved over the past year. It’s a direct result of the hard work every individual at Crestwood has put forth to serving our clients and fostering firm expansion across our regional market and beyond,” said Michael Eckton, Crestwood CEO and Managing Partner. “It’s a true honor to be included on such a prestigious list. We express our gratitude to the talent of our staff and support of our clients for helping us achieve this milestone.”

Please see Crestwood Advisors important disclosures regarding awards and recognition’s here.

Crestwood Advisors Makes Financial Times Top 300 RIAs List 2020

 FOR IMMEDIATE RELEASE

Independent wealth advisory firm earns elite national recognition

Boston, Mass. (August 11, 2020) – Crestwood Advisors (“Crestwood”), a boutique investment and wealth management firm based in Boston, is pleased to announce it has once again been named to the 2020 edition of the Financial Times 300 Top Registered Investment Advisers list.

The FT 300 list, which is its seventh year of production this year, recognizes top independent RIA firms from across the U.S. RIA firms can apply for consideration if they meet a minimum set of criteria.

Applicants are rated on six factors: assets under management (AUM); AUM growth rate; years in existence; advanced industry credentials of the firm’s advisers; online accessibility; and compliance records. There are no fees or other considerations required of RIAs that apply for the FT 300.

“Crestwood is honored to again be recognized by the Financial Times as one of the top RIAs of the year,” said Michael Eckton, Crestwood CEO and Managing Partner. “These firm-wide acknowledgments are the only kind of awards we pursue, and it is truly a testament to the team’s collective efforts to be recognized as one of the elite RIAs in the country. I’d like to thank and congratulate our team on its continued efforts on behalf of our clients.”

 

Disclosures 
The Financial Times 300 Top Registered Investment Advisers is an independent listing produced annually by Ignites Research, a division of Money-Media, Inc., on behalf of the Financial Times (July 2020). The FT 300 is based on data gathered from RIA firms, regulatory disclosures, and the FT’s research. The listing reflected each practice’s performance in six primary areas: assets under management, asset growth, compliance record, years in existence, credentials and online accessibility. This award does not evaluate the quality of services provided to clients, is not indicative of the practice’s future performance and may not be representative of any one client’s experience.  Neither the RIA firms nor their employees pay a fee to The Financial Times in exchange for inclusion in the FT 300.

Please see Crestwood Advisors important disclosures regarding awards and recognition’s here.

 

 

2019 Tax Deadline 1 Week Away

taxes

After the Treasury Department and the Internal Revenue Service provided special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak, the 2019 filing deadline for Federal tax returns is nearly here. Don’t worry if you’re not ready yet to file, individual taxpayers are eligible to request an extension to file their return.

For those of you who are wrapping up your returns please review these important items before you file:   

Deductions help reduce your taxable income, which generally means a lower tax bill.  If you’re still unsure whether the standard deduction or itemizing is best for your family, please consider these popular tax deductions:

  • Retirement account contributions for you and your spouse;
  • Educational expenses;
  • Medical costs;
  • Property taxes and mortgage interest;
  • Charitable donations;
  • Casualty and theft losses;
  • State and local taxes (up to $10,000, including property taxes);
  • Qualified business income deduction allows eligible self-employed and small-business owners to deduct up to 20% of their qualified business income on their taxes;
  • Self employed filers can deduct any of your home office related expenses.

Credits provide dollar-for-dollar cuts in any tax you owe and can save you quite a bit of money.  Here are some popular tax credits:

  • Child Tax Credit. The standard Child Tax Credit is worth up to $2,000 per child dependent. If you added to your family through adoption, you might be eligible for additional tax credits;
  • American Opportunity and Lifetime Learning credits. As with the tuition and fees deduction, Form 1098-T is required to claim either;
  • Retirement savings contributions credit (also known as the Saver’s Credit). Contributions to a 401(k), similar employer-sponsored plan or an IRA might allow you to claim this credit;
  • Energy-saving home improvements (solar panels, solar water heater).

Looking ahead to 2020:

  • Required Minimum Distributions have been waived for traditional IRAs and inherited IRAs.
  • Adjust estimated tax payments based on your expected income in the year ahead.

If you have questions smart tax planning, please do not hesitate to contact your team at Crestwood Advisors.

“Prejudice is an emotional commitment to ignorance”

“Prejudice is an emotional commitment to ignorance”

The people of Crestwood have long believed we are made better by the diversity within our communities, knowing that the combination of our different backgrounds and perspectives only makes us stronger.

We hope that there will come a day when Crestwood Advisors’ position on racism and discrimination can go without saying, but for now, we join the many other organizations who choose to state it clearly and without any room for discussion.  We stand together with our employees and clients in creating a safe, welcoming environment for all, and racism and discrimination will never be tolerated at Crestwood Advisors.

We strive to set a high standard of care and service for our clients and we are committed to setting an even higher standard when it comes to respect and inclusion for everyone.

 

Crestwood’s Research team observations on Q1 2020

wall street bull with medical mask coronavirus nyc e1609337442900

The global coronavirus pandemic has slowed economic growth at a rate never seen before.  The slowdown has affected companies in different ways.  Some industries have seen their markets accelerate while others have seen revenues fall to near zero.  Size, scale and balance sheet strength now matter more than ever.  In this webinar, Crestwood Advisors’ Equity Analysts Julie Praline and Sarah Kanwal discuss companies’ observations from first quarter reports – a quarter unlike any other.  They discuss impaired industries, emerging themes and portfolio implications.

https://youtu.be/UOTlmpreD9k

Helping To Fight Covid-19

doctors nurses

The impact of Coronavirus today is real. Schools and businesses are shuttered and for many of us home is our new favorite spot “to go” – to the office, school, exercise, or dinner and a movie with our families. Today, we are finding new ways of having everything at our fingertips, at home.

As we adjust to this “new normal” the best way to help fight Covid-19 is to follow the Center for Disease Control (CDC) guidelines. Stay home, practice social-distancing, wash your hands often, clean frequently touched surfaces, cover your mouth when you sneeze and cough and don’t touch your face.

While staying at home is important guidance to help fight Covid-19, many people are interested in offering additional help and seeking advice on giving in this time of need. This is evident in the worldwide philanthropic response to Covid-19 – donations already exceed $2 billion and continue to rise. Congress passed the CARES Act prioritizing philanthropy by instituting a new $300 tax deduction for donations made directly to charity.  The CARES Act also relaxes the limit on charitable contributions for itemizers, increasing the deduction from 60% to 100% of gross income. Countries around the world are responding similarly.

Today there are many worthy charities in need.  These are the three key categories you may want to consider as you determine the impact you want from your donation.

• Support the fight against Covid-19 through relief funds
• Protect critical social services that must operate during Covid-19
• Sustain organizations that will be disproportionately affected by Covid-19

As you consider how you want to respond, The Center for Disaster Philanthropy reminds us to plan for the multiple phases and needs in this crisis before giving. This organization has a number ideas on how you may want to allocate your donations. Candid, an organization that provides data and research to help nonprofits, also has a comprehensive Covid-19 resource page to help you identify the organization(s) that you may want to support. If you use a donor advised fund for your philanthropy, most funds are sharing regularly updated philanthropic advice during this pandemic to help support the communities and nonprofits impacted.

At Crestwood, we discuss philanthropy with our clients throughout the year. Please contact your Wealth Manager if you have additional questions about your personal strategy.

Crestwood is fortunate to remain fully operational with our entire team working remotely however, we recognize that many companies and individuals are working under tenuous long-term security and/or extraordinarily challenging circumstances. We have enormous respect and appreciation for all those on the frontlines within our healthcare systems as well as police, firefighters, grocery clerks and so many others still working to support us during this difficult time.

To help provide resources and other aide to those most impacted by the coronavirus fallout, Crestwood is pleased to support these organizations::

• Massachusetts Covid-19 Relief Fund
• Boston Resiliency Fund
• Fairfield County Covid-19 Resiliency Fund
• Americares

Thank you to all of our clients, friends and family members in essential industries who are needed to fight this pandemic and keep our economy going.

Crestwood Expands Its Portfolio Management Team

FOR IMMEDIATE RELEASE

Crestwood Advisors Group, LLC is pleased to announce that Greg F. McSweeney, CFA has been hired to the position of Portfolio Manager, Director in our Boston office.

“We are thrilled to welcome an individual with Greg’s skills and experience to Crestwood Advisors”, said Michael A. Eckton, CFA, CEO & Managing Partner. “Greg is a wonderful addition to our team and we are excited for the additional depth and fresh perspectives we expect him to bring to our clients. Perhaps particularly given the current uncertain environment created by the coronavirus, Greg’s hire demonstrates our ongoing commitment to our clients to invest in the necessary resources to deliver the exemplary service they expect of us.”

Prior to joining Crestwood Advisors, Mr. McSweeney was a Portfolio Manager at Bainco International Investors, a Boston-based registered investment advisor. While at Bainco, Greg was responsible for co-leading the investment team and delivering investment strategies tailored to high net worth individuals and families. Prior to Bainco, Greg spent over a decade in New York in roles investing in equity and fixed income. He earned an MBA from NYU Stern School of Business and a BA from Dartmouth College.