Letter to Stakeholders, November 2025

Friday, November 7, 4:05 pm EST. The stock market ended the month of October on a high: its third straight winning week and sixth straight winning month. Hear we are in November with a sweeping election last Tuesday, the weight of the shutdown and despite solid earnings reports, a (slight?) stock market downturn. In fact, it was the worst week for the NASDAQ since the wild “Liberation Day” market collapse in April. Will November continue with a negative trend?

Over the coming weeks there will be talk about the “low-hiring, low-firing” employment environment, a December interest rate cut – even though we just cut rates last week – and of course the impact of the eventual U.S. Supreme Court decision on tariffs. It is talk that we will listen to while we monitor the effect on your portfolios. The next time we write you, we could be in the midst of another "Santa Clause (stock market) Rally" or an AI inspired downturn. We expect to hear about all of these issues and more. After all, it’s officially the holiday season and the “news” will fight to keep our attention. I like to monitor the long-term bond rates; for example, the yield of the 30-year US Treasury. If that rate “spikes” above 5% then I can expect that the “news”(noise) is tangibly affecting investor sentiment. The current rate is about 4.7%. The “volatility index” or “VIX” is another measure that highlights investor sentiment i.e. fear. Right now, the “fear index” is about 19 but it was over 80 during the pandemic. So for now, no fear is necessary.  

Our clients. Our neighbors. 

Serving clients in the Washington, DC area means that you are privy to not only the financial goals of your clients but also other private matters like the hopes for their families, their political leanings and on unique occasions their fears. Many of you are concerned about the state of our government and how that might affect your immediate and future financial life. Some of you have been furloughed, others laid off, thankfully none of you indicted. But whether you are a client, a neighbor or a fellow PTA member – it's my 3^rd year on the PTA of my kid’s elementary school – we can’t help but see you. Our best days are when we get to tell you – with numbers to back it up – that “You are OK.”  We’ve met with many of you this past month during our Fall Check-Ins and your good saving, your planning and your partnership with us has put you in a solid position for success. We will continue to identify resources for federal workers as we did last month but more importantly, we’re available to talk through your numbers. If you haven’t booked your “Fall Check-In” meeting, do so or email Jason@JasonHowell.com.

ACF: Spirit of Community 2025

Earlier today I had the opportunity to participate in the Arlington Community Foundation’s annual Spirit of Community Awards luncheon. As I mentioned in July, the foundation asked me to become a board trustee and I was able to sponsor a table that included my wife, my pastor and a handful of colleagues who support community involvement. We honored three locals who each exemplified how impactful just one person can become.

Claudia Ramirez Cuellar shares her immigrant experience with new immigrants in the community who are sometimes afraid to ask questions. Nina Janopaul puts her beliefs housing justice beliefs into non-profit board action. And Kellen MacBeth has spent his youth championing marginalized communities through policy and grass roots action. All of them have shown courage and persistence over decades; to do as President John F. Kennedy asked in his inaugural, to “Heed the command of Isaiah, to undo the heavy burdens… (and) let the oppressed go free.”

Langley Residential Fall Benefit

Doug has been a board member with Langley Residential Support Services since 2011. Their Fall Benefit raised over $40,000 for adults with developmental disabilities so they can enjoy the dignity of living a group home with like-minded adults. Our firm supports this event annually and since our wives were busy, we invited a client couple to join us.

As volunteers and donors Doug and I have consistently enjoyed the opportunity to be a part of the good that’s happening in our community. If you would like access to philanthropic endeavors just let either of us know.

For the good of the cause,

Jason J. Howell, CFP®, CPWA®, CSRIC® 

President

Jason Howell Company is a family wealth management firm that serves ALL family  members for ALL things financial. We specialize in multigenerational wealth planning. We do this by reducing the fear, isolation and guilt associated with financial success.

Jason J. Howell, CFP®, CPWA®, CSRIC® and Douglas W. Tees, MBA, CFP® CAP®, CBDA  have spent a lot of time in the Washington, DC area, and are aware that many people who are first generation wealth suffer from a kind of "financial imposter syndrome."  Successful entrepreneurs and family businesses are always looking over their shoulder; government contractors worry about the next contract; former Capitol Hill staffers privately wonder if they should "feel bad" for the money they now make. Imposter syndrome is common among people who work for the many corporate headquarters based in this area as well. These feelings get in the way of properly managing family wealth. We empower them to get organized, build a team of advisors and make decisions.

Our typical "first generation wealth" families include dual income parents who work, save and have just the right amount of fun. For long-time, family owned businesses we focus on much family preservation as we do wealth preservation. 

First generation wealth success stories and family business owners realize that they:

• Need to “do something” with the cash in their checking/savings
• Need to eventually diversify their portfolio away from the family business
• Need an investment strategy for “up” and “down” markets
• Need a plan to mitigate market, credit, inflation, and political risks
• Need to start tax planning instead of just tax paying
• Need to be sure they are choosing the right work benefits
• Need to reduce financial miscommunications between family members
• Need to separate business finances from personal finances
• Need to separate family wealth from individual wealth
• Need a plan to provide space for both family and individual philanthropy
• Need to plan for money while alive and for what happens after death