In this Q1 2024 Tall Oak Capital Advisor Client Report, we highlight the pivotal role of Powers of Attorney, discuss market highlights, the impact of AI adoption, and portfolio positioning.
At a glance
Wealth Advisory Highlight – Powers of Attorney (POA)
- CBD podcast highlighting Dr. Mary Jarratt’s personal experience on the importance of POA.
- Tall Oak Capital Advisors provides holistic advice, including discussions on risk management and estate planning often helping client’s navigate their affairs ensuring their POA and wills are up to date.
- POA is a legal document authorizing someone to manage money and property, vital for future planning and decision-making. With this comes two primary types: Property and Personal Care, each serving distinct purposes.
- POA for property is usually effective immediately, while POA for personal care activates when the grantor is unable to make decisions.
- When choosing an attorney, it is important to consider trusted individuals with your best interests at heart, discussing responsibilities and ensuring willingness to accept them.
- Responsibilities: Attorneys manage finances, make important decisions, and consult with family members. Tall Oak Capital Advisors assists clients by keeping records and facilitating access to documents.
Market Highlights
- Markets saw continued growth driven by strong earnings in AI-focused companies.
- US market rose by 10.56%, despite challenges posed by high inflation measures delaying expected Fed rate cuts.
- The Canadian market experienced a 6.62% rise, driven primarily by strong performance in the energy and healthcare sectors.
- Investment Focus: Investment themes centered on the emerging AI boom, with a shift of attention from “Magnificent 7” to other AI-beneficiary companies.
The Impact of AI
- Strong AI exposure enhanced client portfolios, reflecting current AI adoption trends and strategic leveraging. Rapid AI adoption drives innovation and strains power resources.
- Generative AI is gaining momentum by prioritizing operational efficiency.
- There is immense medical potential for AI to revolutionize healthcare by improving margins, and tech adaption.
- 2024 is labeled the “Year of AI Adopters,” emphasizing scaling businesses with AI adoption.
- There are revisions being made to valuation models due to increased power demand that anticipate a “catch-up” for power companies.
The views expressed in this commentary are those of Tall Oak Capital Advisors as at the date of publication and are subject to change without notice. This commentary is presented only as a general source of information and is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide tax or legal advice. Statistics, factual data and other information are from sources Tall Oak believes to be reliable but their accuracy cannot be guaranteed. This commentary is intended for distribution only in those jurisdictions where Tall Oak Capital Advisors are registered. Securities-related products and services are offered through Raymond James Correspondent Services Ltd., member Canadian Investor Protection Fund. Insurance products and services are offered through Gryphin Advantage Inc., which is not a member-Canadian Investor Protection Fund. This commentary may provide links to other Internet sites for the convenience of users. Tall Oak Capital Advisors is not responsible for the availability or content of these external sites, nor does Tall Oak Capital Advisors endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same Privacy Policy which Tall Oak Capital Advisors adheres to.
