Welcome to Joel Isaacson & Co.
Joel Isaacson & Co. LLC is a leading independent wealth management firm in New York City—with the knowledge and resources to plan for our clients’ needs. For over 20 years, we have been providing comprehensive fee-only wealth management services to our clients. Our independence means that our focus is clearly on our clients’ best interests. We are not attached to any big institutional firms and we maintain our objectivity at all times to provide our clients with our best possible advice to help them achieve their personal and business goals.
Our difference: A unique combination of sophisticated planning, investment management and highly integrated tax strategies set Joel Isaacson & Co. apart from our competition.
The benefits to our clients are clear: We provide long-term, innovative wealth management and truly individualized personal service, year after year, from generation to generation.
Joel Isaacson & Co. is registered as an investment adviser with the Securities and Exchange Commission.
The quarter ended with a surprising twist after a much-anticipated shift in monetary policy failed to materialize at the Federal Open Market Committee’s September meeting. After signaling at its June meeting that it might begin tapering its monthly bond-buying program if economic data pointed to a sufficiently strengthening economy, the Fed ultimately opted to stay the course. Shortly thereafter, the spotlight shifted from the Fed’s monetary policy to the nation’s fiscal policy. The inability of Congress to reach consensus on a budget led to a partial government shutdown.
Despite these obstacles, stocks managed a healthy gain for the quarter, with large-caps up 5% (and 20% year-to-date). International stock markets gained in the third quarter as well, with developed international markets outperforming U.S. stocks by a wide margin. After a rocky start to the year, emerging-markets stocks also rallied, as the region’s dominant player, China, showed signs of improved growth.
Core bonds were modestly positive for the quarter, thanks in large part to the rally that occurred after the Fed announced its decision to delay tapering.
While we do not put much weight on short-term market moves, both the Fed’s actions in the third quarter and the market’s subsequent reactions reinforce our view that we are investing in a time of material uncertainty. Working with us to develop, monitor and rebalance a long term diversified investment portfolio as needed remains the best defense against this uncertainty.
Thank you for your confidence and trust. If you have any questions, please don’t hesitate to contact us.