May 30 2023 |, By, Mesirow Currency Management, Foreign exchange trades settle two days after trading Could they settle in 30 seconds, Foreign exchange settlement risk the risk that one party to a currency transaction won’t receive the currency it purchased is increasing While most currency deals conclude without incident the growing volume of transactions that could fail has regulators searching for better ways to settle foreign exchange trades In this article we describe the size of the foreign exchange market the currency…, We’ll also examine possible improvements to the settlement process particularly a more widespread adoption of payment versus payment systems in FX settlements and also look at the promising potential of central bank digital currencies , Foreign exchange settlement risk on worrisome upswing $22 trillion at risk of failure each day A foreign exchange (FX transaction consists of two parts trading and settlement Trading determines the details of the transaction the exchange rate (the trade’s price the currencies and amounts to be exchanged and the date of that exchange or the settlement date The second part of an FX transaction…, Explore, Central Bank Digital Currencies, What do CBDCs mean for the US dollar as the world’s major reserve currency Read article, US dollar Currency dynasty, Is the USDs position as the worlds reserve currency safe or is its decline inevitable Read article

Do I have enough to retire when I want to How much can I spend on a second home How much can I afford to help support a family member, Our clients ask these types of questions all the time The answer can be simple or difficult depending on how much information is readily at hand and how organized the person is with their financial situation There are many factors that play into these important life and financial decisions and organizing this information is critical to your wealth advisor’s ability to answer your unique question…, Create your personal balance sheet, Your balance sheet is a comprehensive listing of all of your assets and liabilities The asset side of the balance sheet should contain a list of all property bank accounts investment accounts and any other business or personal assets The liability side of the balance sheet should include major financial responsibilities such as a mortgage or loans The value in this exercise is that once you get…, Create your personal cash flow statement, Your cash flow statement is a listing of all of your cash inflows and outflows People are usually quick to identify their sources of current income whether that be from their current employer Social Security or a pension or annuity payment However when pressed about the expense information aside from the aforementioned mortgage or liability payments many people aren’t sure how much they spend…, The difference between “cash reserve” and “investable cash”, It is also important to distinguish between your “cash reserve” and “investable cash” A general rule of thumb is to keep three to six months’ worth of expenses — not income — as a cash reserve depending on your situation That cash amount should be viewed as separate from any cash that is being held for any type of investment opportunity This is also why it is important to know your monthly…, Take care of yourself first, Another important aspect of getting organized is to always take care of yourself first What this means is making sure you are putting money away for your own retirement through a company plan or IRA and contributing the maximum you can afford based on your plan If you are over the age of 50 you can contribute more to these plans The earlier you start saving the more likely it is that you will…, Do an annual financial review, When was the last time you sat down and did a full financial review This involves much more than assessing how your financial accounts did over the last quarter For example a financial review can help you understand if your insurance and estate documents are up to date Since you first established your insurance needs and estate documents your asset levels may have increased and may need to be…, In conclusion, It’s helpful to be organized as you consider the questions specific to your individual circumstance Once the process is in place these planning components should be regularly reviewed and updated as necessary Getting organized will help you make the financial decisions that support your most important life decisions Your Mesirow Wealth Advisor would welcome the opportunity to assist you with…, Published January 2025

Irrevocable trusts offer investors significant benefits including asset protection from creditors and lawsuits tax advantages by reducing estate and income tax liabilities and efficient wealth transfer while avoiding probate They also support Medicaid and government benefits planning by removing assets from personal estates provide control over asset distribution and facilitate charitable giving…,   The process of implementing an irrevocable trust as part of your estate plan can be long and arduous First you must settle on the best strategy that fits your overall goals and makes sense from a financial perspective (after all you are typically planning to part permanently with assets you worked hard to acquire The trust must then be drafted reviewed and executed Next you must finalize the…, The federal gift tax, In many cases you will need to report the asset transfer to the IRS The estate tax savings that drive the purpose of such trusts requires that the transfer to the trust be considered a completed gift for gift and estate tax purposes so it is no longer a part of your estate when you pass away As a result the taxable value of the gift will count against your lifetime exemption for federal estate…, Gifts to trusts that must be reported to the IRS, With few exceptions a completed gift to an irrevocable trust which is not entirely reduced by the present interest withdrawal rights of the beneficiaries must be reported to the IRS This naturally includes gifts to trusts for which there are no withdrawal rights Transfers to a Grantor Retained Annuity Trust (GRAT must be reported since the transfer of the remainder interest following the annuity…, Transfers to trusts that don’t have to be reported but may be beneficial to report, A sale of an asset to an Intentionally Defective Grantor Trust (IDGT at its fair market value which is a common estate planning technique is not a gift and thus it is not required to be reported on a gift tax return Also a gift that is entirely reduced by the annual exclusion is not reportable to the IRS However it may be in the taxpayer’s interest to report them anyway At first you may think why…, The importance of adequate disclosure, In order to start the three-year statute of limitations whether the gift must be reported or not the transaction must not only be reported in a gift tax return but also the valuation of the asset must be “adequately disclosed” the details of which are spelled out in the tax code and regulations In essence the taxpayer has two choices to meet adequate disclosure (1 include a laundry list of…, The federal generation-skipping transfer tax, The other purpose of the Form 709 is reporting allocation of your lifetime exemption from the federal Generation-Skipping Transfer (GST tax a separate tax which applies to certain gratuitous transfers during life and at death to someone two or more generations below the transferor Since the estate and gift tax is considered a tax on the generational transfer of wealth the GST tax sets a limit the…, Conclusion, Irrevocable trusts provide a lot of value to investors however as you can see the gift tax reporting of transfers to trusts can be complex and may have important tax consequences  As a part of the trust creation and funding process you should engage tax counsel (and if needed a valuation professional who is experienced with these matters along with your Mesirow Wealth Advisor to be sure the…

 , By, Mesirow Equity Management, |, Caleb Ezell, Senior Vice President Research Analyst and, Leo Harmon, CFA CAIA Chief Investment Officer Portfolio Manager, A catalyst for healthcare innovation and strategic investment opportunities, The emergence of GLP-1 (glucagon-like peptide-1 agonist drugs is driving a significant transformation in the treatment of obesity and type 2 diabetes GLP-1 agonist drugs act on certain receptors in the body to lower serum glucose levels slow digestion and curb appetite While recognized for their efficacy in weight loss and glycemic control these drugs are poised to have profound second-order and…, Ozempic, (semiglutide injection, Rybelsus, (semiglutide tablets, Wegovy, (semiglutide injection, Mounjaro, (tirzepatide injection US $936 $936 $1349 $1023 Japan $169 $69 – $319 Canada $147 $158 – – Switzerland $144 $147 – – Germany $103 – $328 – Netherlands $103 $203 $296 $444 Sweden $96 $103 – – United Kingdom $93 – – – Australia $87 – – – France $83 – – – Source Peterson-KFF Health System Tracker KFF analysis of country websites (see Methods section Note List prices in $USD based on web searches as…, From injectable to oral Reducing barriers to access and accelerating uptake, One of the most significant developments on the GLP-1 horizon is the transition from injectable to oral formulations which could occur as soon as 2026 based on current development timelines This shift is expected to be a game-changer in terms of reducing barriers to adoption and accelerating the global uptake of GLP-1 therapies for several reasons, Enhanced patient compliance, Injectable medications while effective often face resistance from patients due to the discomfort and inconvenience associated with regular injections , Broadened patient demographics, Oral formulations are expected to appeal to a broader demographic including those who are needle-averse or who have difficulty managing injectable treatments, Accelerated market penetration, The ease of use associated with oral medications is anticipated to drive faster market penetration As oral GLP-1 drugs become available healthcare providers are likely to prescribe them more readily especially for patients who were previously hesitant to start on injectable therapies, Improved coverage and affordability, The transition from injectable to oral GLP-1 formulations is also expected to have a substantial impact on pricing dynamics and insurance coverage Oral formulations are anticipated to enter the market at a 10–20% lower price point compared to injectables which coupled with broader insurance coverage will increase accessibility for a larger patient population Further competition in the marketplace…, Healthcare Services and Providers, We maintain a preference for Healthcare Services companies that are exposed to secular growth themes in the ambulatory surgical environment as well as providers with concentrated exposure to non-GLP-1 impacted market segments (eg behavioral health radiology reproductive health and senior living One current investment is Surgery Partners Inc (SGRY a leading pure-play operator of ambulatory…, Medical Devices and Diagnostics, We took advantage of the broad GLP-1-driven sell-off in MedTech last summer to increase exposure to stocks with idiosyncratic catalysts new product launches durable pricing power and/or margin expansion opportunities at attractive relative and absolute valuations while avoiding names with material near-term thematic and fundamental risks associated with ongoing clinical trial results and…, Biopharma, Currently opportunities for direct investment into the biopharma companies commercializing GLP-1-related therapies remain relatively limited given that the space is dominated by large pharma companies such as Ely Lilly and Novo Nordisk (LLY NVO and smaller biotech companies that have no earnings and in many cases do not even have revenues However given the tremendous size of the market…, Healthcare Technology, While large pharmacy benefit managers (PBMs and distributors might face cost pressures we believe smaller technology-driven companies that provide niche services such as personalized patient management platforms or cost-containment solutions tailored to GLP-1 therapies provide potential investment opportunities These companies are more agile and can carve out specialized roles in the evolving…, R&D and Innovation, We are exploring opportunities within the Life Science Tools subsector with firms that offer valuable and unique R&D and manufacturing services to the biopharma companies that are developing and commercializing GLP-1 therapies Given the rapid and robust growth in demand for these products we are seeing notable investments being made in identification and development of new pipeline candidates…, Investing in the growth of AI,       Identifying value in an overheated market requires human ingenuity Read the Insight   Past performance is not necessarily indicative of future results | Mesirow Equity Management is a division of Mesirow Institutional Investment Management Inc an SEC-registered investment advisor | FOR INSTITUTIONAL EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY As of 9302024 Mesirow Equity Management owned…

February 27 2024 | By, Mesirow Currency Management,  , Is gold the cause or consequence of peace and prosperity, One link that connects generations and joins ancient societies to modern ones is money People no matter the era need to trade save and guard against uncertainty  Gold was a popular form of money for thousands of years until it fell out of favor in the 1970s Fifty years later gold is attempting a comeback In July 2023 Russia caused a sensation when it announced plans for a gold-back currency…,  , Up next, Our second article on gold as money W e talk about the aftermath of World War I How did gold affect the worlds desire for peace and harmony  , Explore, Cryptocurrencies and Tokenization, Distributed ledger technology fosters digitization of just about everything Read article, Futures overlays for investors, Hedge Share Class Investors Grapple with Shorter (T+1 Security Settlement Cycle Read article