Albion Financial Group

A tip of the hat to our Utah roots with a touch of cowboy style! 🤠

Our team is inspired by the pioneering spirit of the Wild West as we navigate today's financial landscapes.

From the heart of the Beehive State, we honor our heritage and look ahead to a prosperous future together.

School is out for summer and our volunteer work with Utah Food Bank's Mobile School Food Pantry program has concluded for the season.

During the last nine months our team visited Woodrow Wilson Elementary and helped deliver 40,256 pounds of food to 13,102 individuals, 7,071 of whom under the age of 18.

Overall this year the program was able to distribute more than 1,346,458 pounds of food, the equivalent of 1,122,048 meals, to children and their families impacted by food insecurity in Utah.

has expanded their services this year to fight hunger statewide, including new pantries that are serving the Navajo Nation which experiences acute food insecurity. We appreciate the work they are doing and look forward to volunteering with them again next school year!

Following the recent passing of Nobel Laureate Daniel Kahneman, the "Godfather" of behavioral economics, Albion CIO Jason Ware, MBA, BFA™ delivered a comprehensive and compelling presentation on cognitive finance at the Salt Lake Estate Planning Council's April luncheon.

The talk explored the various biases, flaws, behaviors, and attitudes that can influence investment outcomes, drawing from Kahneman's (and others) groundbreaking work and blending it seamlessly with market history, data, and foundational principles in the field.

Ware's talk aimed to demystify the intersection of economics and psychology, offering an engaging narrative that included interactive elements all in effort to help "shine a light on the simple yet important proposition of investor know thyself."

🌼 As the school year nears its close, our team’s dedication blooms strong! In our penultimate session with the Utah Food Bank this season, the Albion team is sowing seeds of hope and nourishment. Bags full of oranges were a big hit this time with the students, spreading vitamin C and smiles alike. 🍊📦❤️

Last Thursday, members of Albion's team joined (we also sponsored) the 'Leo 500: The Future of Everything' an imaginative dinner event at The Leonardo in downtown SLC. In between the mingling, the conversations, and the delicious fare, guests were able to sit down at various tables to engage in intimate discussions about the future of topics such as women, power, and ; democracy; ; journalism; education; and much more. It was a terrific event - a "Ted Talks meets Chef’s Table with a shot of the Wasatch mountains" - one we were proud to be a part of! Big thanks to all involved!

Jacki Zehner Ben McAdams Sidni Lloyd-Shorter, Lauren Gustus Selby Recursion Pharmaceuticals University of Utah Health Manish Parashar Tanner Bean Fabian VanCott

🚀 Elevate your savings game during Utah Saves Week!

Did you know paying off debt can be a stealthy way to save money? 💸

Check out Albion Financial Planner Adam Haynes's article to learn more about this strategy!

https://albionfinancial.com/2024/02/29/smart-money-moves-paying-down-debt-is-saving/

🌟 Volunteering with purpose! Once again our team had the privilege of participating in the Utah Food Bank's program at a nearby elementary school. As part of the Food Bank’s commitment to fighting hunger statewide, we distributed essential food items to students in need. The smiles on their faces warmed our hearts on Valentine's Day last week. Together, we're making a difference! 🙌📦❤️

We started the new year with another visit to Woodrow Wilson Elementary, where we helped the Utah Food Bank distribute healthy food to the students and their families. We love being part of the program and witnessing the the radiant smiles and the genuine gratitude of the children.

We are grateful for the opportunity to volunteer with such a wonderful organization. If you want to join us in this rewarding experience, please visit this link: https://www.utahfoodbank.org/programs/mobile-school-pantries/

Challenging week to start the year after a banner 2023 across pretty much all asset classes. Stronger-than-expected labor market data introduced some doubt as to whether the Fed will enact the first rate cut at the March meeting, which in turn had knock-on effects on rates and stock prices. Stay tuned!

https://albionfinancial.com/2024/01/08/weekly-market-recap-january-5-2024/

Weekly Market Recap - January 5, 2024 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Welcome to January, named after the Roman god of doors, gates, and transitions. In the spirit of Janus, the contributors to this letter review the lessons of the past year with an equal focus on the year ahead.
https://albionfinancial.com/wp-content/uploads/2024/01/4th-Quarter-2023-Quarterly-Letter.pdf

Our team enjoyed the privilege of serving our community with the Utah Food Bank at Woodrow Wilson Elementary. For another month we participated in their program, delivering nutritious food for children and their families.

The Yuletide can be a challenging time for many families, and we’re proud to help make it a little brighter. Our reindeer outfits might not have made us fly, but they sure did bring smiles to the children’s faces!

We had a wonderful time working with our fellow volunteers, packing bags, distributing food, and sharing in the holiday spirit. If you’re interested in joining us in making a difference, check out this link: https://www.utahfoodbank.org/programs/mobile-school-pantries/

Wishing everyone a merry Christmas and a jolly holiday season filled with love, peace, and joy! 🎄🦌

Albion CIO Jason Ware, MBA, BFA™ joined Schwab Network yesterday to chop it up with Oliver Renick about the , how we're positioned, as well as some individual names like Alphabet Inc. (Google) and The Walt Disney Company.

Ware: "Despite being more near-term caution than the average investment manager and Wall Street strategist, we're staying fully invested."

WATCH the interview to see how we accomplish this and to hear Ware's take on so much more!

Epic Vs Google Lawsuit Will Continue For Years | Morning Trade Live| Schwab Network Today's Inside Out: Alphabet (GOOGL) & Walt Disney (DIS). Jason Ware joins to discuss the stocks. He thinks the Epic Games lawsuit will take months or years to actually shake out and doesn't see it as a major threat to GOOGL stock. Tom White demos a call vertical trade. For Disney,....

How did a Utah turn traffic lights into a multimillion-dollar exit?

From Albion partner Doug Wells, find out how Mark Pittman and his company Blyncsy solved a huge problem for the Departments of Transportation and made a big impact on the future of .

https://www.utahbusiness.com/why-park-city-angels-invested-in-blyncsy/

Find more of our press appearances here: https://albionfinancial.com/press/in-the-news/

We are grateful for the opportunity to serve our community with Utah Food Bank at Woodrow Wilson Elementary. This month, we participated in their program, which provides nutritious food for children and their families.

This program is especially important during the holiday season, when many families struggle to afford a Thanksgiving meal. By volunteering, we helped to distribute food, pack bags, and greet the children with a smile.

We had a blast working with our fellow volunteers and seeing the impact of our actions. If you want to join us in making a difference, check out this link: https://www.utahfoodbank.org/programs/mobile-school-pantries/

Happy Thanksgiving! 🦃

Albion has long held that clients are best served working with top tier fiduciary advisers: Legal, accounting and . Today Albion learned alongside our legal and accounting peers at Salt Lake Estate Planning Council’s annual Fall Institute.

Tough week for stocks as risk premia expanded on the deepening conflict in the middle east. Macro data was mostly fine, although the outsized Q3 GDP print certainly does not appear sustainable.

https://albionfinancial.com/2023/10/30/weekly-market-recap-october-27-2023/

Weekly Market Recap - October 27, 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Women of Albion hosted a screening of Advice For Girls, a ski movie featuring all female athletes and all female production.

We were inspired by this incredible group of women, and were honored to have four of their nine person crew in attendance.

They will continue across the country with their tour, and we encourage you to attend a screening if they come to your city. The film is also available for personal viewing in January 2024 on their website.

https://www.adviceforgirlsfilm.com/

Instagram: advice4girls_film

Albion CIO Jason Ware joined the Schwab Network yesterday morning to discuss Microsoft Q3 earnings results. Ware: "it was a good way to kick off fiscal 2024, strong results with Azure being the star of the show ..." he continued, "Microsoft really needed to print solid performance in Cloud to justify the run in the stock and their 32x multiple, and they got it!"

WATCH the entire interview for more on how we're viewing this company (including Ware breaking down the business segments) and the stock ("as we think about shares over *the next* five years, Satya Nadella has to ...") .

https://schwabnetwork.com/video/microsoft-msft-stock-higher-following-strong-growth-positive-guidance

Microsoft (MSFT) Stock Higher Following Strong Growth & Positive Guidance | Schwab Network Microsoft (MSFT) delivers a 1Q earnings beat. MSFT is higher following strong cloud growth and positive guidance. MSFT’s 1Q adjusted EPS came in at $2.99 versus an estimated $2.65 and its revenue came in at $56.50B versus an estimated $54.40B. Azure is expected to remain strong throug...

Albion CIO Jason Ware joined CNBC yesterday to preview both Microsoft and Alphabet Inc. third quarter earnings. In the segment Ware unpacks several core items we'll be watching, including all-important Cloud growth figures and how these companies are thinking about and (potentially) benefiting from . While these are distinct businesses, similarities between the two do exist.

To wit, Ware: "Microsoft and Alphabet have both been caught up in the AI mania this year, so their stocks have done very well. Consequently, first and foremost investors will look for whether the AI hype is starting to show up in business results. Are we seeing meaningful growth due to AI? And if not, when might we expect this to occur?"

WATCH the entire segment to hear all the details.

Albion's Jason Ware on his expectations for Microsoft and Alphabet earnings as a shareholder Jason Ware, Chief Investment Officer of Albion Financial Group, discusses his expectations for Microsoft and Alphabet's earnings reports.

Bond yields resumed their march higher after a short-lived flight-to-safety trade the week before, putting renewed pressure on P/E multiples and sending stocks lower. Macro data suggested a continuation of existing trends, including mixed results in manufacturing and housing, a resilient consumer, and a strong labor market. Meanwhile, the Conference Board’s Leading Economic Index (LEI) fell for the 18th month in a row, and remains at y/y levels that in the past have always indicated the imminent onset of recession. Stay tuned!

https://albionfinancial.com/2023/10/23/weekly-market-recap-october-20-2023/

Weekly Market Recap - October 20, 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Thanks to Utah Food Bank for hosting us at Woodrow Wilson Elementary for another session of their program.

The concept seems simple: give food to kids for their families. But it requires hands to do the important work of moving boxes, opening packaging, and sorting the food.

The team always has a good time. Learn how your company can get involved: https://www.utahfoodbank.org/programs/mobile-school-pantries/

Our CIO Jason Ware spoke with Reuters this morning to discuss Morgan Stanley's third quarter results and reaction. It's been a challenging environment for most bank stocks this year, including Morgan Stanley who for years was a clear winner in the group.

Ware [on the post-earnings sell off]: "The market was disappointed with their wealth management and investment banking businesses, divisions that have represented tailwinds to Morgan Stanley for nearly a decade."

For more, check out the article.

Morgan Stanley profit down with lower investment banking revenue, shares tank Morgan Stanley's third-quarter profit showed a hit from lethargic dealmaking and shares sank 6.5% as investors were also disappointed by smaller inflows to the wealth management division and the lack of announcements in the CEO succession.

Lots going on last week… plenty of fresh inflation data, including a notable uptick in consumers’ 1y forward inflation expectations in the U. of Michigan preliminary October survey. Rates fell in the belly and long end, reflecting the uptick in risk aversion driven by events in Israel (and perhaps some short-term oversold conditions in rates markets). Bank stocks rose after several reported better-than-expected Q3 results on Friday (JPMorgan, Citi, and Wells), driven by an increase in net interest income. And finally, energy and defense companies saw their stocks rise, understandably so given the jump in oil prices and geopolitical risk.

https://albionfinancial.com/2023/10/16/weekly-market-recap-october-13-2023/

Weekly Market Recap - October 13, 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Labor market data and Treasury market supply/demand technicals were the main drivers of market action last week. After a lot of day by day back and forth, the net of it all was that the odds of another rate hike before year-end dropped slightly below 50/50, bond yields rose, and stocks were mixed.

https://albionfinancial.com/2023/10/09/weekly-market-recap-october-6-2023/

Weekly Market Recap - October 6, 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Follow the link below to READ our Q3 2023 quarterly letter. From the introduction:

"In this letter, CEO John Bird covers the impact of the United Auto Workers strike on the auto industry, CIO Jason Ware reports on the state of the economy and markets, and our Senior Wealth Advising team shares a checklist of end-of-year actions to help you optimize your financial plan. Check the Community segment to learn of Albion’s recent national recognition and about upcoming events on the calendar."

albionfinancial.com/wp-content/uploads/2023/10/3rd-Quarter-2023-Quarterly-Letter.pdf

Market data from the third quarter of 2023 and a recap of , , , , , with a review of Albion's "Four Pillars":

https://albionfinancial.com/2023/10/03/quarterly-market-recap-q3-2023/

Quarterly Market Recap - Q3 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.

Albion CIO Jason Ware was invited to give a macroeconomic update at the annual "Southwest Salt Lake County Economic Summit" organized by the Jordan Education Foundation and South Valley Chamber. During his talk, Mr. Ware shared our perspective on the state of the broad US - both presently as well as our outlook - across growth, inflation, interest rates, the labor market and more. It was a terrific event that we were honored to take part in!

We had a blast networking at the Silicon Slopes Summit, the largest and most anticipated tech/business event in Utah. We learned from bright minds, such as Tony Robbins, Gary Vaynerchuk, Reed Hastings, Ryan Smith, Jesse Itzler, and Mayor Erin Mendenhall. We are proud to have this innovative industry in our state. Thank you, Silicon Slopes, for hosting this amazing event!

Busy week for macro, tough week for and . September continues to live up to its reputation!

https://albionfinancial.com/2023/09/26/weekly-market-recap-september-22-2023/

Weekly Market Recap - September 22, 2023 - Albion Financial Group Last week's economic data with earnings, valuation, interest rates, inflation, jobless claims, building permits, bond spreads, consumer confidence.