The SGROI FINANCIAL NEWSLETTER

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the SGROI FINANCIAL NEWSLETTER

Teacher Classroom Giveaway Giving back to the hard working teachers of WNY

ss reading to them n cla rte ga er towards improving the experience of nd ki s their classrooms. To help us with this k’ o o C promotion, we teamed up with Town- . s r square Media and Clay Moden, the M h t i morning show host for Buffalo’s w g number one country music station n i n r WYRK. With Townsquare media, o

we were able to promote across

l C

hen Joe Sgroi opened Wthe business in 1971, he started by helping the teachers of Western New York build for their retirement. It began with helping his sister, who was a teacher at Buffalo School District, but he quickly realized the radio stations 92.9 JackFM, more teachers needed the 93.7WBLK, Mix96 and 106.5WYRK. support and guidance to reach their In less than 2 weeks we received over retirement goals. Fast-forward to to- 400 entries from well deserving teach- day and Sgroi Financial is still a proud ers. With a random selection, we an- local supporter of teachers and have nounced the 3 winners as: Jodi Cook helped over 3,000 clients with their from Benjamin Franklin Elementary, 403(b) plans. Elizabeth Ziegler from D'Youville Por- Prior to the 2018 school year, we ter Elementary and Kelsey Leitten announced a new promotion called from Starpoint Middle School. the Teacher Classroom Giveaway; Each teacher was able to use the awarding 3 teachers $750 each to use funds however they thought would be

Securities offered through Cadaret, Grant & Co., Inc., member FINRA/SIPC. Advisory services offered through Sgroi Wealth Advisory Group LLC, an SEC Registered Investment Advisor. Sgroi Wealth Advisory Group LLC, Sgroi Financial LLC, and Cadaret, Grant & Co., Inc. are separate entities. Paul Hutchings

"Fast-forward to today ues. lleag and Sgroi Financial is r co he ith still a proud local supporter w em th of teachers and have helped re a h s over 3,000 clients with d n a s their 403B plans." e i l p p u s l o

e lized when we work together.”

e At Benjamin Franklin Ele-

o mentary, Mrs. Cook decided to

s r spread around her funds. She pur-

M chased school supplies and shared them with her other colleagues in need best for their students. Mrs. Leitten of additional materials. From tissues to purchased iPads for her classroom; crayons to backpacks, the supplies she “The iPads allow for collaboration provided were much appreciated from with peers, engagement, and motiva- her fellow teachers. For her generosity, tion in the classroom,” said Leitten. we set up a classroom visit from Clay “The games teach students team- Moden. Clay spent a morning with Mrs. work, problem solving, and higher or- Cook’s kindergarten class reading to der thinking skills. My students and I them and answering questions about are thankful for the generous gift you life as a radio show host. The students have given us.” even showed off their singing skills Mrs. Ziegler, who is a first grade when Clay asked if anyone knew the teacher, used the funds to improve song “Baby Shark” – for any parents of her STEM program. “Science, Tech- younger kids, you’ve probably heard nology, Engineering and Mathematics this song a few hundred times! is so important,” she said. “I pur- Our appreciation goes to chased materials such as in- the winners for making terlocking magnets, magnetic their classroom experi- gear sets, legos and building ence a better place for blocks to use to problem their students. And to all the dedicated solve. All the students love teachers of Western these materials and lan- New York, thank you guage development and for all you do for our problem solving skills are uti- community. Season's Greetings

he holiday season allows us a chance to come to- Tgether and reflect on the year we’ve had and look ahead with anticipation of what’s to come in the new year. At Sgroi Financial we are completing our 47th year and it’s hard for me to believe that I have been here for 27 of those years. I always keep my Dad in mind and all of us honor the guiding principles that he established back in 1971 when he founded the company. To always do what’s right for our clients and also to be a positive influence in our community. The world around us continues to change rapidly. Looking forward to 2019, we will continue to look for ways to improve our client experience. We have a number of things that we are working on but helping you to reach your financial goals remains our number one priority. We are glad you’re with us and we will never take your loyalty and dedi- cation for granted. We look forward to many more wonderful years ahead. Thank you for giving us the opportunity to work with you and your family this year. From our family to yours we wish you a wonderful holiday season and a successful 2019! Patrick Sgroi, President

Improving the Client Experience with Tech

s 2018 draws to a close, Pat & I look back with a great A deal of pride in what we accomplished this year. As summarized in Pat’s letter, 2018 was a year of change at Sgroi Financial and we wouldn’t have been able to do it without our excellent staff and the responsiveness of our clients. As anyone can clearly see, our world continues to change on an almost daily basis. Technology continues to disrupt many industries at a rapid pace. All one has to do is look at how companies like Amazon continue to disrupt various industries through the use of technology. You have seen how Uber & Lyft have dramatically changed how people get around. You can now order food and groceries using your computer or smart phone and have them delivered to your door. One thing all of these have in common is the use of technology to make people’s lives easier. Unlike many other industries, the Financial Services industry has been late to the party. We have not yet seen the impact experienced from improved technology. We don’t see that continuing however. As such, we feel it is im- perative to continue to stay ahead of our competitors and improve in the technology that we offer our clients. We want to provide an easier experience and offer innovative solutions for our clients who want them. So stay tuned for some exciting improvements coming in the new year! In the meantime, we wish you a blessed holiday season and the best of luck in 2019!

John Clouden Sr. Vice President Jennifer Jurek

New Year's Resolution Planning Improve your finances in 2019

t’s time to ring in the this year.” Instead put year or every time you Inew year and as the in writing that you want get a raise. However, if saying goes “new year, to increase your savings you’re working a job that new you”! The begin- account from $2,000 to offers a retirement match, ning of a new year is the $10,000 by the end of the we highly encourage you most popular time to get year. Then break the goal to invest enough to receive refocused and set goals down into smaller pieces the full match amount. An to better your lifestyle. into either a weekly or additional tip to reaching Creating resolutions are monthly amount that you your goals is to set up quite common among the need to save to reach automatic monthly pay- topics of eating healthy, your goal. Next be sure ments. This will get you in exercising and even finan- to track your progress. a good habit of investing cial planning. However, This will allow you to stay without even have to did you know that only invested in your goals think about it. 9% of resolutions are fol- and identify any tweaks lowed through? The main needed in your habits to Pay down Debt reason for the lack of suc- stay on track. Setting a goal to get rid cess is due to not setting of all your debt at once specific enough goals and Save More, Consistently maybe a lofty goal; so it not seeing immediate re- The most common is important to be specif- sults. But that’s why you new year’s resolution ic about which debt you have Sgroi Financial here is “I want to save more want to eliminate the to help you and keep you money.” But let’s get most. We recommend on the path to reaching specific in just how much the snowball effect your financial goals. Here you should be saving for which is focusing on are a couple ideas to help retirement. The golden eliminating the smallest get you started with your rule is 15% of your gross debts first then work- financial resolutions. income. So if you’re making your way up to the ing $50,000 a year you largest. Paying off your Start with a Plan should be saving $7,500 debt is like climbing a In order to accomplish towards retirement. That mountain, it’s going to your financial goals, you 15% can be spread across take time and strategy need to first identify what pre-tax accounts, such but the only way you’ll they are. By creating a as a 401(k), or after-tax get to the top is to start clear, concise list, you will accounts like a Roth IRA. climbing. As you elimi- be more likely to see suc- If the 15% is too big of a nate your debt you want cess. A goal is best when number to save, it’s okay to also identify the bad it is specific and measur- to start at a smaller num- habits that put you in able. It isn’t good enough ber and work your way trouble in the first place. to say “I want more mon- up to 15%. Try to increase This will keep you out of ey in my savings account your savings by 1% each debt for the future. Summer M. McKellar

Year End Market Update Ending with a Bang

quarter to remember: rates when the economy founded on correct asset Amidterm elections, is not as able and willing allocation aligning with trade wars, continued to operate with the higher your investment timeline. dollar strengthening, yield levels, it could be the Looking ahead, if curve “inversion”, govern- definite end of the rally. substantial trade agree- ment shutdown, and the We have said this before, ments come to fruition, never welcomed change a bull market does not we could see pockets of dialogue to bear die of old age, there must of exponential growth, market territory. Up until be a catalyst – a Federal especially in emerging recently, we have had an Reserve misstep can defi- market areas. With that environment of histori- nitely be that culprit. being said, the current cally low volatility and With so much uncer- landscape justifies a more positive returns for the tainty in today’s political cautious footing. We will last decade and investing and economic landscape, have a clearer direction has been generally stress- investors are having a for US stocks as 4th Quar- free. Many investors have hard time finding convic- ter earnings reports are had a nice ride and it’s tion. There is one thing announced in January. We easy to take on risk when that is clear - volatility have and will continue to the market is going up, is here to stay. 85% of adjust the risk budgets in but that leads to unneces- all trades are done by our managed portfolios sary discomfort when the algorithms and computer to reflect our views of the markets experience times trading programs. This changing market climate. of higher volatility. With means that when the Thank you for your con- the potential headwinds markets trade based on tinued trust and we hope that will continue into new information, trade you had a wonderful 2019, it is an ideal time deals, political headlines, holiday season. to ensure you are in the etc. it’s done quickly and correct portfolio for your aggressively; leading to risk tolerance. stocks being oversold in Vol. 8 Number 4 HOLIDAY 2018 All eyes will be on times of weakness and The Sgroi Financial is the quarterly the Federal Reserve overbought in rallies. newsletter of Sgroi Financial LLC. 965 Union Road and headlines out of Aligning your portfolio West Seneca, New York 14224 the White House for the with your risk tolerance 716-674-6700 next few quarters. The is key in this environ- Editorial Team: President has expressed ment. Understanding the Patrick J. Sgroi, President his criticism of Fed Chair upside and downside [email protected] Powell and his recent risks associated with your John G. Clouden, Sr. Vice President interest rate hikes, spe- investments will make the [email protected] Urmas M. Lupkin, cifically the most recent roller-coaster ride more Vice President Sales & Marketing in December that pushed bearable. Now is the time [email protected] the US markets down to re-evaluate what ride Paul Hutchings, Marketing Coordinator over that 20% mark from you want to be on. Trying [email protected] all-time highs, signifying to time the market is a Bear Market Territory. If losing battle. The basis Design: Leith Design Group the Fed continues to raise of successful investing is “Happy New Year from your Sgroi Financial team”

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Sgroi Financial, LLC 965 Union Road West Seneca, New York 14224 716-674-6700 or 800-989-6710 Fax: 716-674-6822 www.sgroifinancial.com [email protected]