GUILFORD, CT — GSB Wealth Management, LLC (GSBWM), a Registered Investment Adviser and wholly owned subsidiary of GSB has acquired the assets of CTMA Wealth Management (CTMA), an East Haven, CT-based Registered Investment Adviser with $198 million of client assets under management. Chris Abely, CTMA’s founder, will become GSB Wealth Management’s Chief Investment Officer.
The acquisition brings CTMA’s financial planning, tax planning, executive benefits, and corporate retirement expertise to GSBWM, helping to better serve clients (individuals, small businesses and credit unions) and opens the door to new capabilities for its parent company, GSB, a CT-based financial institution. “That’s not something we did previously so we’re excited to offer that, and it aligns very well with the commercial banking clients of GSB,” said Ken Russell, President and CEO of GSB Wealth Management. “For the bank itself, it can now broaden and deepen relationships with commercial clients by offering retirement planning.”
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Pre-Election Thoughts October 16, 2020 – Season 4, Episode 2 In this Special Episode, listen to our insights and thoughts on the election and the impacts it could have on the markets, economy and your investment strategy going into 2021! Podcast Details
Fourth Quarter Economic Update October 8, 2020 – Season 4, Episode 1 In this episode, we will cover a variety of topics from the Federal Reserve's current stance on interest rates to the Mortgage market. We will also share some fun facts you should know and a number of "firsts" you should be aware of. Many clients have been asking us why the stock market has recovered so strongly when the news concerning the economy and Covid-19 is taking a turn for the worse. We know the economy has been temporarily crippled, the unemployment rate has skyrocketed and there is civil unrest in many major cities. The stark truth is that this information is well known in the markets and has already been factored into today’s prices. What is propping everything up is the fact that the government has printed trillions of dollars and some of this money is leaking into the stock market. Can anyone remember a time when the government literally printed checks and handed them out to people as if it were Halloween? Unprecedented.
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May Market Update – Is Unemployment, the Debt and Liquidity Impacting the Market? May 18, 2020 - Season 3, Episode 3 Since our last Podcast “COVID-19 and the Fear Cycle of Investing” in March, the market continue to be extremely volatile. What is causing this volatility? Are the unemployment numbers fueling investors’ fears? Is the Debt weighing on the Market? And is the Market still overpriced? Chris Abely and I discuss these and several other topics this month. As this letter is being penned on this first day of April the sun is shining bright and the temperature is mild, allowing one to get out of the house and take a walk in the neighborhood or in an area park. Given the happenings of the past five or six weeks, for many of us getting outside and enjoying nature is one of the few things we are still able or permitted to do.
To our GSB Wealth Management clients,
One of the aspects of the recently passed $2 Trillion CARES Act was the waiver of the Required Minimum Distribution for IRAs for 2020. The link below provides you with additional information but in all cases we urge you to seek the advice of your personal tax professional as the waiver does not apply to every type of IRA. If you do not have a tax professional with whom you can consult please feel free to contact us and we can offer you guidance in finding a tax professional. Link to AARP website: aarp.org/money/investing/info-2020/cares-act-retiree-tax-benefit.html Thank you for the trust you continue to place in GSB Wealth Management. Warm regards, Your GSB Wealth Team Podcast Details
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