Gratitude, growth, and good company
One of my favorite events of the year is Pie Day, a Gentry tradition of thanking our clients with fresh-baked pies. We’re equally grateful to be part of an outstanding team, and I’m delighted to welcome our new wealth advisor, Caitlin Sharp. We’re excited for you to meet her, and you’ll find her introduction below.
This season invites us not only to reflect, be thankful, and give back, but also to look ahead with purpose as the year winds down and the economy continues to offer noteworthy developments.
The International Monetary Fund has upgraded its U.S. growth outlook, a sign of resilience despite trade and policy headwinds. Meanwhile, the Federal Reserve remains cautious due to persistent inflation and slower job growth. These dynamics remind us to stay vigilant and agile as we help you plan for the future. Thank you for placing your trust in us.
On a final note, we’ve decided to make The Advisor a quarterly publication that delivers more substantial, tailored content. Stay tuned for the next issue, arriving in January. You will continue to receive your GoalVest market update every month.
We look forward to seeing you at Pie Day and helping you finish 2025 strong!
Introducing Caitlin Sharp, CFP®
Caitlin Sharp, CFP®
Wealth Advisor
We are pleased to introduce Gentry’s new lead advisor, Caitlin Sharp. She is a CERTIFIED FINANCIAL PLANNER® who specializes in providing portfolio management, wealth accumulation, and wealth protection strategies, especially to women and retirees seeking greater financial security. Together, we look forward to fulfilling our collective mission — helping clients navigate their financial journey with clarity and confidence. Discover Caitlin’s story on our website.
Gentry in the community
The Gentry team recently volunteered at Heartspring to celebrate residents’ birthdays. Jeff also participated in the Chamber Golf Classic, a benefit supporting Wichita’s business community.
Important dates
End-of-year deadlines
Nov. 26 | Retirement account distribution requests
Nov. 26 | Donor-advised fund donations/grants
Nov. 26 | Appreciated securities donations
Dec. 5 | New account applications
Dec. 19 | Donor-advised fund contributions
Closed for the holidays
Nov. 27 | Thanksgiving
Nov. 28 (available by phone 8:30–noon)
Dec. 24 (available by phone 8:30–noon)
Dec. 25 | Christmas
Jan. 1 | New Year’s Day
Featured Article
Giving back and looking ahead
It’s the giving season, and you may have causes you want to support with donations. Here are some tips for giving smart from the heart.
First, treat any charitable donation with the same care you’d give an investment. Examine your choices. Think about the impact. Ask questions.
Second, give where it counts. Some universities and hospitals have large endowments, while your local nonprofit may be struggling to keep its doors open. Sometimes smaller charities with bigger needs can make your dollars go further.
Third, consider volunteering where you donate. It gives you a chance to see your dollars at work. The greatest donor satisfaction often comes from giving both time and money.
Finally, make the most of year-end giving with experienced guidance. We can help you explore advanced strategies that maximize your gift and offer potential tax benefits.
As you think about how to make an impact on others’ lives, don’t forget to reflect on how life has impacted you. Major milestones, career moves, and other changes all shape your financial future. Now is a great time to take stock and ensure your wealth strategy reflects what matters most.
If you’d like to review your current plan or discuss charitable giving strategies, call 316-613-7570 today. We’re here to help you make the most of the season — and the opportunities ahead.
Your market outlook
GoalVest Advisory update
Market rally continues amid increased volatility. Equity markets advanced for the sixth consecutive month, supported by steady economic growth and solid earnings. Fixed-income markets remain positive after a slow start to the year, and returns continue to outpace 2024.
| Market | October | Year-to-date |
|---|---|---|
| S&P 500 | +0.8% | +15.7% |
| Nasdaq | +1.7% | +19.9% |
| Dow Jones Industrial | +0.8% | +11.2% |
| Russell 2000 Small–Cap Stocks | +1.8% | +12.4% |
| Bloomberg Aggregate Bond Index | +1.1% | +7.4% |
Data represented through Oct. 23
The CBOE Volatility Index (VIX) closed at 17.3 on Oct. 23, well below the 60.1 intraday high from April 7 (levels under 20 are considered stable). While October saw a modest uptick, volatility has trended downward since spring.
Economic data
Due to the government shutdown, the Bureau of Labor Statistics released its September CPI report on Oct. 24. Tariffs and higher utility costs contributed to a headline inflation increase of 3.0%, up 0.1% from the prior month. Month-over-month growth slowed to 0.3% from 0.4%. These numbers are below expectations, and equity markets have reacted positively.
The BLS did not report September employment data. The most recent release (August) showed 22,000 new jobs, following 3,000 in June, with unemployment last measured at 4.3%. The next employment report date is still pending.
The Fed cut rates by 25 basis points on Oct. 29. There is no November meeting, and the December outlook remains uncertain.
In credit markets, auto parts manufacturer First Global declared bankruptcy on Sept. 28. Although this caused concern, it does not appear to be a systemic credit issue. We’ve interviewed credit managers who remain confident and report low delinquencies.
Market jitters and trade tensions
The Oracle Corporation’s Sept. 9 earnings beat propelled the technology sector, fueling an already strong equity market. But the momentum halted around Oct. 10 with renewed trade tensions, including threats of 100% tariffs against China.
Valuation concerns, particularly in AI and tech, also prompted a brief pullback. These moves are normal and not indicative of an end to the current market rally. A correction is possible, but timing it is difficult. Our advice is to remain diversified and stay the course.
As the third-quarter earnings cycle begins, we are encouraged by growth and resilience across U.S. businesses. The coming quarter will be an important test of whether earnings can sustain current valuations.
Year–end optimism
We believe equity markets can continue performing well into the end of 2025, driven primarily by earnings strength. Despite the trade war with China, tariff levels for other countries appear manageable. The pressure of longer-term inflation could dampen future Fed rate cuts, but investment opportunities remain across private equity and credit, venture growth, technology, and dividend-oriented names. Current market valuation stands at 22.6 times forward earnings, up slightly from the start of the year.
The economy remains strong as leading U.S. companies demonstrate profitability, innovation, and sound management.
Sources: JP Morgan Asset Management, Bureau of Economic Analysis, Bureau of Labor Statistics, Morningstar, Factset, Barron's, KKR, and YCharts
