Hi there,
Welcome to this month’s edition of Disruption Blueprint! We have some exhilarating updates and inspiring stories lined up for you:
- RFG Names Shannon Spotswood as CEO: Discover the exciting future of RFG!
- A Former Wirehouse Advisor’s Success Story: Learn how Mark Green grew his business by going independent.
- Rick Wedell Explains Market Drop: Rick discusses the recent 4.5% decline in the S&P 500, driven by shifting economic fears, and offers strategies for navigating market volatility.
We are so excited to announce Shannon Spotswood has stepped into the role of RFG Advisory’s CEO!
Since joining RFG nearly a decade ago, Shannon has helped revolutionize our business and achieved new success levels. Rick Wedell’s appointment to President while maintaining his Chief Investment Officer position is a testament to his excellence and the value he brings to the firm.
Our founder, Bobby White, built RFG from the ground up and has been a monumental figure in our growth and evolution. He will remain indispensable as Executive Chairman, working with our Advisors and upholding our vision and values.
Markets Slip as Fear of Recession Grows Among Investors
Rick Wedell, Chief Investment Officer
Market Commenary | August 6, 2024
Markets continue to be very choppy, with the S&P 500 down approximately 4.5% over the past week. This sell-off has been driven by a shift in market sentiment from the worry that the economy is too hot to a fear that the economy might be too cold. This is driving movements in asset classes that we expect (stocks versus bonds), along with a few abnormalities (namely, the performance of large-cap tech versus smaller stocks and international stocks). In this edition of Market Commentary, Rick breaks down how various asset classes are moving, discusses the risks associated with this type of market, and outlines his playbook for volatility.
Click here to watch the full video.
Mark Green has been in the financial services industry since 1985. He began his journey working at Merrill Lynch. After a decade in operations, he shifted to the advisory side, drawn by the business’s social nature. “I wanted to be around people I enjoyed being around—and it’s a bonus that you get to help them with the stages in their lives,” says Mark. That’s how I kind of fell into the financial services business, and I’ve never looked back.”
Mark worked at a bank wirehouse in 2018 when he first considered going independent. “Shannon Spotswood at RFG Advisory called, and from the first conversation with Shannon, it felt like I was talking to an old friend,” he says.
That phone call sparked the creation of GFG Wealth Advisors in 2019. “We’re coming up on our fifth year in partnership with RFG,” says Mark. Mark has grown GFG’s assets under management in those five years from $38M to $90M. “It’s been wonderful,” he says. “I wish I would have done it 20 years ago.” Learn more about Mark’s growth story here.
