January 29, 2016
REFLECTING ON 2015 AND LOOKING AHEAD TO 2016
2015 was another exciting year for Mainspring. We continued to expand our geographic reach as we opened an office on Whidbey Island, in the picturesque city of Langley. We also grew our team by adding a number of wonderful people to the Mainspring family. With three locations in Bellevue, Burien, and Langley, and well over 20 team members, we couldn’t be more excited for the future.
Impacting our Communities:
Through the year we maintained our commitment to supporting the community. In addition to giving back to many of our favorite causes/organizations financially, the Mainspring team combined to put in over 500 hours of volunteer work in 2015. Many clients and friends of Mainspring also volunteered their time throughout the year, whether it be at Bellevue’s Relay for Life, United Way’s Day of Caring, Burien’s Brat Trot, or teaching financial literacy in local classrooms. We even held an event in Langley where we, and many VIPs of that community such as the mayor, took pies to the face for charity. We will continue our efforts in 2016, and look forward to sharing more of these experiences with all of you.
The Mainspring Family:
From a team member perspective, we added Tia Sanidad as our Director of Operations. In addition to making our firm as efficient and effective as possible, she also helps manage the compliance side of our firm. This is so important in today’s world and demonstrates our commitment to protecting our clients and company. We also were joined by Kristen Lomax as Director of Client Experience. She has been integral in bringing additional value for our clients. In particular she has been focusing on client appreciation and educational events, enhancing our service model through direct client feedback, and has coordinated our extensive community involvement calendar. In our Burien office we added Joann Byerly to the account servicing side of our business. She has proven to be a huge asset in providing excellent service while managing the large amount of moving parts that come with her role. And finally, Melodi Piper, in our Langley office. She is somewhat of a “Jane of all trades” but her largest focus has been providing an excellent experience for our clients on the island. This focus on growing our staff was aimed at improving your experience as a client of Mainspring. We hope that you have felt the impact over the last year. We also expanded our team from an advisor perspective as Devin Loughlin joined us in the latter part of the year. We have known Devin for many years and have always respected his views and approach to the business. I hope you all get a chance to meet him in the near future.
The Markets & Economy:
From a market and economic perspective, it was a bit of a tough year. We went through our first stock market correction since 2011 which brought back some of the butterflies in the stomach. There were issues across the globe that brought up a lot of questions (Greece, China, Russia, the Middle East, and many others). Then there was the unbelievable drop of oil prices and the “will they, won’t they” game with the Fed and their decision about raising interest rates. Ultimately we did see the first rate increase since the “Great Recession.” These times are always a good reminder of why we regularly revisit your risk tolerance and time horizons as they relate to your financial plan.
On the flip side, a lot of good things happened. The economy in the United States continued to get better even as we wound down many years of quantitative easing. The job market continued to improve, as did the real estate market. Inflation remained at bay and the average consumer and company was in better shape financially in 2015. And we did get through that correction (10% or more drop in the market) which is a healthy and normal event. We are cautiously optimistic about 2016 and will be sure to share more details at our next review.
The Mainspring of Your Financial Life:
Moving into 2016, we are more committed than ever to truly being the Mainspring of your financial life. For any of you that may have forgotten (or perhaps never knew) the meaning of Mainspring, it is twofold. First, it is defined as “the principal spring in a precision timepiece, driving the entire mechanism to consistently and accurately work over a long life.” Secondly, Mainspring means “the driving force of action and change.” We will continue doing everything we can to be the central figure to help coordinate your financial lives and motivate you to reach your goals. Mainspring was created (and continues to grow) from the best ideas of many people. The feedback received from our advisors, staff, and most importantly, our clients, will continue to shape (and improve) the firm as we move forward. Be sure to keep sharing how we can improve and enhance your experience.
Jeremy Taylor, CFP®, ChFC®President, Mainspring Wealth AdvisorsCERTIFIED FINANCIAL PLANNER