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Welcome to LeConte Wealth Management.

We are an independent financial firm that has been helping the good people of East Tennessee establish and maintain their long-term financial goals since 2007.

If you’re a current client, you’ll find links to access your account, make appointments with us, get up-to-date information about the stock markets, and view useful resources that can help empower you to be a more knowledgeable investor (the kind we like!).

If you’re not currently acquainted with our firm, we’ve established this Web site as a way for you to get to know us and understand how we can help you get to that point where you don’t have to worry about whether your money is doing right by you.

Join us on our blog, Financial Friction for our take on investment and economic topics written from our independent, plain spoken perspective.

 

This is How We Help Clients

The Role of Your Financial Advisor

  • The Evolution of Advice

    During the past twenty years, things have changed in the world of financial services. Investors have shifted away from relying on stock brokers to make their investment decisions. Though equity and insurance brokers certainly provided access to a variety of great products, they were salesmen looking for commissions on trades and offering advice only secondarily. The client who needed advice regarding taxation, for instance, had to consult a CPA. And, when somebody needed help planning for retirement, many stockbrokers struggled to assist.
    As investment products have become increasingly complex and investor needs have expanded, clients have turned from brokers to financial professionals. Individuals who used to pay for products and get guidance for free now pay for guidance while still getting best-of-class products. Because we believe that the trend toward guidance conforms to our client-first philosophy, we offer ourselves to you as wealth consultants.

  • Re-Defining Wealth Management

    Wealth management is about replacing products with process. Instead of picking the hottest stocks, we rely on a strict investment methodology to ensure that our clients’ portfolios are aligned with their best interests. Instead of trying to sell a particular product, we assess your personal goals and needs before considering what sort of investment might be appropriate. Instead of turning you away when you ask us to develop a plan, we embrace you. Wealth management is a process driven strategy that provides total professional services.

  • Independence

    Independence lies at the core of wealth management. With no obligation to sell a particular product, we suggest the best suited product. Knowing that there is no one-size-fits-all solution to personal finance, we strive to find the proper solutions for you. Our services range from coordinating an estate plan to managing investment risk, from income distribution planning, to business succession planning. We have partnered with accountants and attorneys to provide solutions to all of your financial needs, and we promote our clients, not a product.
    As a process driven, independent wealth manager, we seek to provide invaluable financial guidance to high net worth individuals with complex planning needs. Our goal is to help you achieve your goals. Our strategy is wealth management.


Do as I say, not as I do

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As we cautioned in our recent blog post about austerity, corporate America is using their cash to reward shareholders rather than create jobs.   As the public sector goes through a massive downsizing, it appears as if companies would rather reward its own than look to reduce the unemployment rate. These large Dow Jones components may be paying lip service to the media and the President on their efforts to hire some workers, but the reality of the unemployment situation lies in what  they’re doing.

Home Depot announced today that they are planning to buy back $1 billion of their stock and are refinancing another $1 billion in debt.  This number is in addition to their already announced buyback of $2.5 billion in stock in 2011. This is all on top of the 6% dividend increase announced earlier this year.  They’re using their excess cash to reward shareholders, not hire workers.  On February 15th, the company announced that they were hiring 60,000 workers (numbers that padded that month’s national jobs report).  The problem: these positions are part-time, seasonal workers from March to June that support all of us that are stocking up on potting soil and finding a way to spend our tax refund.

Intel, another Dow component, made headlines in February as President Obama championed their cutting edge technology and plans to hire 4,000 new workers in 2011 as a part of his weekly radio address.  The President had recently visited an Intel plant in Oregon and learned of the company’s plans to build a $5 billion facility in 2013 in Arizona.  Yet again, Intel said one thing while doing another.  They announced late last year that they were increasing their dividend by 15% and their board authorized the repurchase of an additional $10 billion of shares of their stock bringing the total to $14.2 billion for 2011.

In December, AT&T announced that it was increasing its dividend another 2.4%, costing the company an additional $59 million each time it pays a quarterly dividend and buying back $300 million of its shares.   More recently, the company also announced a merger with T-Mobile for $39 billion.   Mergers offer chances for cost-cutting (no need for two marketing departments) and usually results in job losses rather than any net employment gains.

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