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How to enhance your post-graduation financial health

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I’m entering the daunting world of post-college, graduating this month. My fellow graduates and I are entering into an improving economy, but it’s still a tough labor market. With loan debt and underemployment just two of the many major challenges facing the class of 2016, now is the best time for graduates to start establishing healthy financial habits that can guide us for a lifetime.

Being surrounded by experienced financial professionals at UMB as an intern, I thought I’d take advantage of their proximity and ask for some guidance before I begin the task of job searching and setting up my finances for lifelong success. I consulted with a few associates here to get their thoughts on how to get started.5 tips for recent college graduates

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5 tips for recent college grads - build a healthy credit scorePaying off credit card balances in a timely manner keeps your credit score healthy, putting you in a better position to make bigger purchases down the road. Also, remember to pay necessities like utilities, cable and phone bills on time, because your payment status can be factored into your credit score under the new scoring approach taken by FICO.

5 tips for recent college grads - invest wiselyIt’s never too soon to start investing. While it’s important to pay off debts, investing is vital for future financial wellness. But remember to do your research before committing to any investment. Understanding risk is vital, and it must be weighed against the long-term payoff of any investment. If you have stocks, actively tracking them can help you understand how the market works. You’re also never too young to work with an advisor who can guide your investment decisions. If you’re fortunate enough to have a job AND an employer who offers a 401(k) match, make sure you take advantage of the employer match.

5 tips for recent college grads - 50/20/30 ruleMy mentors at UMB suggest using the following formula to help you stay on budget. Take your monthly income after taxes and 401(k) contributions and prioritize spending as follows:

  • 50 percent for fixed costs like rent, utilities and monthly subscriptions.
  • 20 percent toward building a financial foundation, like house payments, paying down student loans or just investing in an emergency savings fund (more on this later).
  • 30 percent into flexible spending, which is day-to-day expenses like groceries, eating out, entertainment and gas.

5 tips for recent college grads - emergency fundMake saving up a few months’ worth of living expenses an immediate priority after graduation. Having money saved in an account is always the best safety net if any unforeseen circumstance puts you in a place with less income. Remember that your living expenses do not need to equal your take-home pay. Only look at your fixed costs (which as we previously stated should be close to 50 percent of your regular budget), not savings and contributions.

have fun on a budgetDon’t let being on a budget get in the way of living a full social life. Using coupons, going to free local events and splitting costs with friends are just a few of the many ways to ensure you are able to have fun without overspending.

The financial pros here reminded me that having a long-term frame of mind when handling finances will have the biggest and best payoff in the future. As a graduate, if you can set yourself up with healthy financial habits now, you have a better chance of experiencing stability and wealth down the road. Come on class of 2016, we have a bright future ahead, so let’s make sure we are saving for it!

5 tips for recent college grads - sources

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 


Mr. Nicholas Zych interned with UMB Marketing Communication, focusing on social media. He recently graduated from the University of Kansas with a degree in journalism.



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UMB: Insights – Common Questions for Wealth Advisors

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UMB Industry Insights

We’re continuing our UMB: Insights series by talking to a few of our wealth advisors about questions they hear all the time from their clients.

  • Am I going to be able to live in retirement the way I live today?
  • What kind of healthcare can I afford?
  • How can I maximize that and minimize taxes? How do I pass that on to the next generation tax-efficiently?

If you find yourself asking any of these questions, it’s probably time to meet with a wealth advisor.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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UMB: Insights – When to Engage a Wealth Advisor

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UMB Industry Insights

Belinda explains why you should start talking to a wealth advisor. They can help you see the big picture, set your priorities and customize your plans accordingly.

Learn more in this continuation of our UMB: Insights series.

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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UMB thanks Kansas City!

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UMB thanks KC

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Must-do car maintenance

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If you’re ever tempted to skip car maintenance, think twice. Not doing the work now could end up costing you more down the road. must-do car maintenance

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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Meet the Leadership Series: Jim Rine (UMB President, Kansas City Region)

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Q&A with Jim Rine, President of Kansas City Region
Get to know UMB’s leadership a little better.
Jim Rine family

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Tell us about yourself.
I went to high school in Independence, Mo. and graduated from Missouri State with a finance degree in 1993.  I started right out of college with UMB as a credit analyst/management trainee, and I will celebrate my 22nd anniversary with UMB in April.

Tell us about your family.
My wife Melanie and I live in Leawood. My wife Melanie and I met in high school, but went to different colleges, dated off and on for 10 years, before getting married in 1997. Melanie has an undergraduate and master’s degree in music education from the Conservatory at UMKC.  She taught music in the North Kansas City School District for 10 years before deciding to be a full-time mother. She was an avid runner, with five marathons under her belt, now more active with tennis and golf.  She was also the president of the Parent Teacher Organization at our children’s elementary school.

We have two children. My daughter, Emily, is 14 and in eighth grade. She is active in tennis, swim and dive, junior golf, music and an active volunteer for the community. My son, Maddox, is 10 and in fifth grade. He is a huge sports fan, and plays basketball, soccer, tennis, junior golf and swim and dive. 

Why did you choose UMB?
UMB was my bank. I opened my first checking account with UMB when I turned 16, and when I graduated college I thought I was going to be the next great mutual fund manager. Thinking I would need to start as an analyst, I thought the fundamental analysis you would do on the privately-held companies in the credit department would be a door opener to becoming a market analyst. I had no idea I would end up in commercial banking!

What is it like to be regional bank president?
The regional president role varies from market to market. It looks much different in Kansas City than it does in a market with 100 total associates. In Kansas City, you share a good portion of external duties with other company leaders. My biggest challenge is using an impact and influence model to ensure all divisions are working together to introduce our customers to all areas of the bank. In the commercial banking space, I want to create an environment where people feel valued and rewarded for doing a good job. Adding value and removing obstacles allows us to attract and retain top key associates. At the end of the day, any amount of success that I have in this position is a direct result of having the right people.

In addition to being the president of the Kansas City region, I also have our national business development team and business banking teams that roll up to me. Both are considered commercial holding company groups that have reach outside Kansas City. In all three teams, we win because of our people.

What are your favorite ways to give back in the community?
I have served on many non-profit boards in the past. Currently, I am on the board of the Kansas City Zoo and Charlie’s House, a small non-profit. The founders, my friends Brett and Jenny Horn, lost their 2-year-old son, Charlie, when he pulled a dresser down on top of himself in 2007. Anything I can do to bring awareness to child safety that would prevent even one accident like this from happening again is worth my time as well as financial support.

My appreciation for the zoo was renewed when my children were younger. Under the leadership of Randy Wistoff, the Kansas City Zoo has experienced a major metamorphosis in the last several years.  The Polar Bear exhibit, Penguin Plaza, Orangutans and numerous other exhibits/renovations have transformed the zoo into a place Kansas City can be proud of.  World class cities have world class zoos, so I believe it is important to our region.

Where is your favorite place to travel and spend a weekend?
I love visiting anywhere with an ocean and golf course! And even though it’s cliché, my favorite way to spend a weekend is with family and friends.
Jim Rine golf

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Mr. Rine became president of the Kansas City region in 2011. In his current role, Mr. Rine is responsible for managing the Kansas City commercial banking teams and partnering with other bank line of business leaders to implement the strategic plan for Kansas City. He is the advisory director for UMB Bank, n.a., and is on the following UMB advisory boards: Metro, South, Johnson County, St. Joseph and UMB Financial Services. He joined UMB in 1994. Mr. Rine earned a bachelor’s degree in finance from Missouri State University in Springfield, Missouri.



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Farm to office: Tips for starting a workplace CSA

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Spinach, strawberries and sprouts freshly picked from the field and dropped off at your desk—this isn’t just for Earth Day. That service is actually a reality at our headquarter UMB offices.

CSA stands for community supported agriculture. The CSA model connects local farmers directly to consumers.  Through a CSA, consumers can purchase a “share” of local, seasonal products directly from the farmer. Shares are generally delivered on a weekly basis and can vary in size and cost. A workplace CSA can be a great addition to your organization’s wellness or sustainability programs.
CSA summer share

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Benefits of a CSA and buying local

  • Natural: Most CSA farmers grow their crops without pesticides, herbicides and genetically modified organisms (GMOs) so the food tastes like it came from your backyard garden. According to a PBS Independent Lens documentary‡, 95 percent of CSA farms use organic or biodynamic farming‡.
  • Fresh: In addition the food travels a shorter distance to get to you. Produce can be picked when it is ripe instead of being picked too soon which happens if it has to travel across the country. Some foods travel thousands of miles to get to our grocery stores. The shorter distance it travels means less fuel and emissions and time it takes — making it better for the environment.
  • Local support: Buying local supports our community, our friends and neighbors. Family farmers are people that work hard to bring us fresh and healthy food.

How to get started

Since 2010 UMB has offered its downtown Kansas City associates the option of having farm fresh products delivered to the office. Through the years we have used a few different CSA farmers, and here are the lessons we learned:

  • Determine interest: You can send out a short online survey (an online search will give you free options for simple survey tools) to test interest or you could even host a one day onsite farmers market to see how much interest it generates. UMB hosted a farmers’ market for Earth Day, and its popularity was a deciding factor for us to offer a CSA program.
  • Choose a dedicated CSA coordinator to work with the farmer and your employees. This could be someone in HR or a volunteer from your green team or wellness team. Make sure this is someone you can rely on and that they know they will have to dedicate some time and effort to supporting and promoting the program during the CSA season.

How to choose a CSA provider

  • Interview a few farmers to find the right fit. You can find a list of farmers who offer CSAs through one of these websites Kansas City Food Circle or Local Harvest. Many CSA farmers use organic farming methods but may not have the financial means for certifications. Each farm is different, so verify farming practices when interviewing a potential farmer. Other things to keep in mind when looking for a workplace CSA farmer:
    • Flexibility in share sizes, product offering – many CSAs offer meat, dairy, canned and baked goods in addition to produce, allergy sensitivities like gluten free and vegan options. Be aware that the more customized your CSA program the more complex it can get for you and the farm to coordinate.
    • The farmer’s experience in providing workplace CSAs– Ask for a reference from a current company they are servicing.
    • What the minimum/maximum number of shares the farmer can deliver to your workplace.
    • How they will handle issues that arrive such as forgotten shares or replacement of spoiled products.
    • Delivery logistics:
      • Day of the week, time and place of delivery
      • How will shares be distributed? — interoffice mail delivery, employee pick up at set time and location, etc.
      • How will the share be packaged?
    • Forms of payment – payroll deduction, online payment, etc.
    • Ask to see a real life sample of what is in a share.Providence Farms - CSA

At UMB we have partnered with Gerry and Lisa Newman of Providence Farms, a small family-owned and operated farm in Trenton, Mo.  The Newman’s use organic farming methods—never using pesticides, herbicides, fungicides, synthetic fertilizers or GMO seeds. We get to choose from two share sizes which include produce, meat from Barham Cattle Company and Family Farm, and a rotation of eggs, baked goods, butter and more.  The CSA season runs from June to October.

Lisa Newman of Providence Farm says,“We love fruits & veggies, and we love to share!  We are very passionate about growing our food without the use of harmful chemicals. When companies allow us to deliver fresh fruits and vegetables on a weekly basis to employees, they are opening up the possibilities of people eating produce they might not have ever tried.

We live in a society where we want everything fast; fast food, boxed foods, frozen foods and microwaved food. We are providing a service where employees don’t have to take extra time to do shopping and can take their CSA home and prepare fresh food that is only hours old!”

The net result of a CSA is the food is healthier for us and better for the environment.

Have you participated in a CSA or plan to start one soon?

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


Ms. Shahane is a Vice President Healthcare Marketing/Sustainability Manager for UMB. She is responsible for managing marketing initiatives for UMB’s healthcare payments, HSAs, and benefit card products. In addition, she leads the UMB Green Team and promotes UMB’s internal sustainability initiatives. She joined UMB in 2001 and has 13 years of experience in the financial services industry. She earned a MA in Marketing from Webster University. She is a volunteer for Bridging the Gap and serves on the board for Northeast Neighbor to Neighbor.



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Associate fraud: who they are and why they do it

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We shared this information with you a couple years ago, and unfortunately are finding that fraud remains a hot topic. So here is a refresher on how to detect and avoid internal fraud. Be sure to check out our other blog posts on the topic of fraud.

 

He looks like a typical associate. She could be a 20-something or a person in her fifties. He could be the person you eat lunch with every day. The truth is that you can’t pick out this person from the crowd. She is committing associate or internal fraud in your company and doesn’t look any different from the rest of your co-workers. He makes sure he blends in.

So what should you look for if you suspect one of your associates is committing fraud?

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What to look for

  • A disgruntled associate who is vocal about their unhappiness with the company. They often use this as an excuse to commit fraud.
  • An overly enthusiastic associate who consistently ask questions about processes and procedures that will help them steal from the company.
  • A seemingly harmless associate with no apparent agenda. Their behavior won’t be as easy to spot as the first two. Having audits and checks/balances in place will likely help you catch them.

How they do it

These are not always tell-tale signs of fraud, but those who commit internal fraud are likely to:

  • Always be willing to take on additional tasks that could lead to fraud and have nothing to do with their current duties.
  • Learn as much as they can about company systems to use in conducting fraud. Systems can include but aren’t limited to: accounting, accounts payable/receivable, payroll, bank account access. They will look for weaknesses in policies or procedures.
  • Earn management’s trust with regard to the most vulnerable parts of the company.

Once they gather the necessary information and gain the trust of the company leaders, they will begin their plan. This could be creating “ghost” associates in payroll or diverting funds to a new account for a fake vendor.  A click of the mouse and the associate can send e-mails on behalf of the company or executives  requesting wire or A.C.H. transfers from their bank account.  Sometimes it’s as simple as stealing money directly or even selling confidential company information on the internet.

Why they do it

The best example of why an associate will commit fraud is described by Dr. Donald Cressey as the Fraud Triangle Model, a tool for assessing the risk of fraud. Cressey was a criminologist who studied embezzlers.

Fraud Triangle

  • Pressure is often financial and usually stems from addiction, living beyond one’s means, major medical expenses or gambling losses.
  • Rationalization is the explanation why the theft is not really wrong. Some associates tell themselves that it’s a loan and will be repaid. Others feel they are not paid enough and deserve more.
  • Opportunity is the opinion that a fraud can be committed without being caught. The thief sees poor internal controls, poor supervision, poor “tone at the top” or a combination of these.

Some of the best ways to avoid internal fraud is to set up regular, thorough audits and reviews of processes in your company.  Make sure associates have an avenue to report instances of fraud, such as an anonymous hotline.  Establish the ethical tone at the top where executive management or business owners set the tone for ethical behavior within your organization as a top priority.


Dennis Knop is a vice president and external corporate fraud investigator of UMB Bank, n.a. He has worked for UMB for 20 years, and 14 years of that in fraud investigation. He has a Bachelor of Science in Criminology and Criminal Justice. Mr. Knop is a Certified Fraud Examiner and currently serves as the chairperson of the Midwest Financial Fraud Investigators Group in St. Louis, Mo.



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The presidential election and the stock market

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Stocks always react differently during an election cycle. A piece of advice we give clients is to look for election-neutral stocks. Hear some of my thoughts on how stocks are performing this year from a recent visit to CNBC studios and read more below.

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Elections matter, but do they predetermine a bear‡ or bull market on Wall Street?

If history teaches us anything, there is one thing investors can count on during an election year, and that’s an upcoming period of uncertainty in the markets. The year promises to be interesting on multiple fronts—and while the candidates are busy making the case for why they should be elected, we wanted to get to the bottom of one question: How does a presidential election affect returns in the stock market?

Market Returns and the Four-Year Presidential Cycle

We all know the market dislikes uncertainty and it doesn’t matter what causes the uncertainty. Political uncertainty is no exception. Going back to 1900, we categorized each calendar year of market returns into one of four categories: the election year, the first year, the second year and the third year of the presidency. We discovered the third year in office was the best performing and the election year had the most uncertainty.

Stocks have struggled in the first half of historic election years, no doubt due to the uncertainty of the election and what a new president may mean to the economy and the markets. Typically, the market struggles early in the year when the political theater is at its highest, with numerous candidates still in the running. Consequently, the bottom of the market is linked to the timing associated with determining a clear winner. A few examples make the point: In 1996, President Clinton’s second term was not in question and the market only suffered a minor correction of 5 percent. In 2004, there was more uncertainty. Incumbent George W. Bush, running for a second term, was in a tight race with John Kerry. That year the market established a bottom in August. This graph illustrates the two races.

S&P 500 1996 vs. 2004

The bottom line: Expect volatility whenever you see uncertainty, but as this pertains to election cycles, it usually clears up quickly.

Political Rhetoric

As politicians campaign, they need to gain the voters’ attention. When the discussion turns to sectors and industries, markets react—sometimes temporarily or sometimes longer-term. In any case, the impact is seldom as bad as the language being used.

A perfect example of this is the Affordable Care Act. This legislation was signed into law on March 23, 2010. Initially, there was massive uncertainty as employers and investors analyzed and interpreted the new law. In 2010, the S&P Health Care Index was up a mere 0.7 percent, managed care increased 8.3 percent and the S&P 500 was up 12.8 percent. As I previously mentioned, this market reaction proved temporary as the positive financial impact of the Affordable Care Act began to assert itself on the companies’ bottom lines. So looking at the next 12 months, returns reversed. In 2011, the S&P Health Care Index was up a stellar 10 percent, managed care increased an impressive 32.9 percent and the S&P 500 was up only 2.1 percent.

Democrat or Republican?

In the long run, markets are driven by economic fundamentals that trickle down to corporate earnings. In the short run, noise can influence markets. The data suggests that elections would be classified as noise.

We went back to 1900 and analyzed which political party in the White House produced the best returns in the stock market. Over this long period of time, Democrats won this contest, producing an average return of 7.9 percent. Republicans produced a return of only 3.0 percent.

DEMOCRAT OR REPUBLICAN:
MARKET RETURNS
POLITICAL POWER GAIN/ANNUM % OF TIME
Democratic President 7.9 47.2
Republican President 3.0 52.8
Democratic President, Congress Split 10.1 3.3
Republican President, Congress Split -4.2 10.6

I concede that this is a naïve way to analyze the data; however, the answer to the question of which party is best for the markets is inconclusive. I presented this data to a group of investors and a Republican asked if the returns would be different if I lagged returns by a year. The question has merit and does change the results dramatically as the outcome would be completely opposite.

It becomes difficult to assign market returns to a specific president. For years, we have experienced mounting debt, an increase in terrorist threats and easy monetary policy. As these issues flare up, they either positively or negatively affect the market. So is it fair to say the current president is totally responsible?

Is This Time Different?

This election may be different. This year we have a candidate who represents the establishment and a candidate who represents the anti-establishment.  I’m fairly confident that not all of the actions and policies touted by the candidates would be a good thing for the markets. Keep in mind that what a candidate says they will do during a campaign is typically not what they will do once in the oval office. A candidate’s goal is to excite the voter base, increase voter turnout and gain a political advantage.

And, remember: the president must work with Congress to get things done. In 2017, the president will not have a free hand. If we have a Democrat in the White House, there is a good chance we will have a Republican Congress. If we have a Republican president, he will have to deal with two experienced and successful leaders, Mitch McConnell and Paul Ryan, individuals who will not subordinate their policy views.

The Long and Short of the Matter

 

Elections are important on many fronts, but as far as markets are concerned there is a short-term effect and a long-term effect.

The only thing we can say conclusively about the market data is that prior to an election, markets tend to trade flat with higher volatility. After the election, the market has consistently delivered stronger returns.

In the long-run, the market’s preference for one political party over another is unclear. The data is clunky and incredibly sensitive to modest adjustments.

I would caution against using every statement and policy suggestion made by the candidates as a tool for guiding investment decisions. Rather, understand what history has taught us and refrain from making long-term decisions based on short-term emotions.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 

UMB Investment Management is a division within UMB Bank, n.a. that manages active portfolios for employee benefit plans, endowments and foundations, fiduciary accounts and individuals. UMB Financial Services, Inc.*  is a subsidiary of UMB Financial Corporation. UMB Financial Services, Inc is not a bank and is separate from UMB Bank, n.a.

This content is provided for informational purposes only and contains no investment advice or recommendations to buy or sell any specific securities. Statements in this report are based on the opinions of UMB Investment Management and the information available at the time this report was published.

All opinions represent our judgments as of the date of this report and are subject to change at any time without notice. You should not use this report as a substitute for your own judgment, and you should consult professional advisors before making any tax, legal, financial planning or investment decisions. This report contains no investment recommendations and you should not interpret the statements in this report as investment, tax, legal, or financial planning advice. UMB Investment Management obtained information used in this report from third-party sources it believes to be reliable, but this information is not necessarily comprehensive and UMB Investment Management does not guarantee that it is accurate.

All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Neither UMB Investment Management nor its affiliates, directors, officers, employees or agents accepts any liability for any loss or damage arising out of your use of all or any part of this report.

“UMB” – Reg. U.S. Pat. & Tm. Off. Copyright © 2016. UMB Financial Corporation. All Rights Reserved.

Securities offered through UMB Financial Services, Inc. Member FINRA, SIPC or the Investment Banking Division of UMB Bank, n.a.

*Insurance products offered through UMB Insurance Inc.

You may not have an account with all of these entities.

Contact your UMB Representative if you have any questions.

* Securities and Insurance products are:

Not FDIC Insured  ▪  No Bank Guarantee  ▪  Not a Deposit  ▪  Not Insured by any Government Agency  ▪  May Lose Value

 


K.C. Mathews joined UMB in 2002. As executive vice president and chief investment officer, Mr. Mathews is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment, Asset Allocation and Trust Policy Committees. Mr. Mathews has more than 20 years of diverse experience in the investment industry. Prior to joining UMB, he served as vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. Mr. Mathews earned a bachelor’s degree from the University of Minnesota and a master’s degree in business administration from the University of Notre Dame. Mr. Mathews attended the ABA National Trust School at Northwestern University and is a Chartered Financial Analyst and member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.



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Tax Facts {infographic}

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How much do you know about taxes?  If you’re like a lot of people, you just want to know how much you owe the IRS or how much the IRS owes you. But if you dig deeper, you will be amazed at how our income tax system has evolved and some of the interesting factoids that would astound even the most seasoned tax professional. In anticipation of Tax Day, we’ve compiled a great infographic that answers all (at least some) of your questions!
Tax Facts 2016

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UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas, as well as two national specialty-lending businesses. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors.



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