New Employee Spotlight: Angel Baca

“Music, and Baseball, and Cats... Oh My!”

by Krista Wallace, CFP®, AFC®

Angel Baca is the newest member of the SoundView team. She joins us in a dual role – both as CEO Kevin Slater’s Executive Assistant and as his primary Support Advisor. I sat down with her to learn a bit more about her and why she decided to join the team.

SVA: You’re new-ish to Seattle. What was attractive about the Emerald City?

AB: I moved to Seattle with my partner, Jeff, about 2 years ago. We enjoy the city life and decided to take the plunge and move to the Pacific Northwest. We love it! It’s so beautiful here!

SVA: I think you’ll find that each of us found our own unique way to SoundView and the PNW, so lean into that. Our clients have fantastic stories too! Now that you’re here….what’s capturing your attention, and how are you enjoying city life?

AB: “We live in Belltown, so I enjoy just walking to work, and feeling the vibe of the city each morning is a joy. (Though I hear I’m in for random scooter rides with Kevin Slater!) We are also enjoying the wine scene! Jeff and I love reds, but we’re also finding we enjoy exploring white and sparkling wines, too! We are also into “everything” music - indie, rock, country, classical, heavy metal, even rap – it’s all on our playlists, and we welcome suggestions of venues or local bands. When life slows down a bit, we also enjoy other cultural experiences – symphonies, plays, and ballet are just the beginning!”

SVA: So you’re NOT into sports?

AB: “Oh, no, we are! We’re baseball fans! Aside from the Mariners, we also follow the Colorado Rockies. Jeff is also into basketball, so we cheer for the Denver Nuggets!”

SVA: So you’ve brought your favorite teams with you to Seattle — did any pets make the move too?

AB: “YES! Our cat, Luna, is a Tonkinese. Truth be told, it’s Jeff’s cat. I’m allergic, but thankful that she’s hypoallergenic. But she definitely knows who to come to when she wants love and affection…. and who gets her all fluffy-tailed and hyper.”

SVA: What were your first impressions of SoundView during the interview process? Has that changed in the past few weeks?

AB: “Moving to Seattle, we heard about the 'Seattle Freeze' and we encountered it in a big way. In my previous employment, it was difficult to just be friendly with my coworkers. I really felt disconnected. Then, during the interview process, I felt an instant connection with the SVA team – it was almost as if there was a “certainty” that this was the place for me. Everyone truly, deeply cared about who I was as a person. Learning everything about the job feels a bit like drinking from a fire hose, but a couple of weeks in, I’m finding my stride—and I finally feel like I’m where I’m meant to be.”

SVA: Okay – now the tough stuff – what’s something unique about you that might not come up in a day-to-day conversation?

AB: “My best friend, Stephanie, and I have been best friends for 29 years! We actually met in elementary school. Stephanie was born in Seattle and moved to Colorado Springs, and now I’ve done the reverse. We talk every day on my walk to or from work, which is its own metaphor for our friendship. We’ve walked a lot of life together – both the good and the bad- and have persevered through it all. Not many relationships last for 29+ years anymore, but I am grateful for her every day.”

Five This or That Questions (Holiday Edition) w/Angel Baca

• Resolutions or Meh? Meh. I think every day you have the opportunity to change what’s not working. It’s not a once-a-year activity for me.

• Cookies or Candy? COOKIES. All the Butter Cookies……

• Tree Lighting or Ice Skating? Tree Lighting

• Family or Friends for the holidays? I’m going with Neither! Just the two of us (and Luna) is plenty!

• Long Weekends – do you take the Friday or the Monday off? Monday off feels like a “long” weekend.

• Bonus: Do you have a favorite holiday movie? We LOVE ‘Krampus’!

A few of Angel’s favorite things.

Chart of the Month: Are You on Track—or Losing Sleep?

by Austin Boyce, Advisor, CFP®

Do you ever notice how certain “money thoughts” stay on your mind long after you’ve turned the lights out for bed? According to a study by SeniorLiving, the top fear among Americans over 55 is not having enough money for retirement.

At the heart of this concern are two realities: on average, people are living longer, which increases the retirement horizon, and the things we buy continue to get more expensive. Both of which leave many people wondering if their portfolios will need to play catch-up in their later years. If you are under fifty-five, you may want to revisit your spending rate to help you avoid this fear in the future.

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Another factor that can make sleep elusive is the lack of a plan. A lot of people don’t know how much they will need in retirement to maintain their lifestyle, so they assume they won’t have enough. After decades of working (and hopefully saving), it can be tough to transition into retirement and the new routines, or lack of routines, that come with it. People often wonder where their income will come from to support monthly expenses once they are no longer receiving a predictable paycheck. That is where a little planning can go a long way.

SoundView Advisors is here to help you understand your spending, alleviate your fears, and prepare you for the transition to retirement. We’ll listen to your concerns and offer solutions to alleviate your worries and help you feel confident during the transition.

If you are still working, we use intentional conversations about your financial goals each year to consider adjustments to your plan. We look for ways to project spending in retirement, asset levels, and savings growth to evaluate if you are on track. We’ll dive into this conversation during spring Annual Reviews, but don’t hesitate to reach out to your advisor before your meeting.

We’ll bring the insight that helps you settle in and rest well.

Chart of the Month: Medicare’s Fork in the Road

by Kevin Rigg, CFP®, CPA®

Medicare open enrollment is in full swing (from October 15th to December 7th), so whether you have a Medicare Advantage plan or Original Medicare, now is the time to review your current coverage and determine if any changes are needed. Medicare Advantage plans have grown in popularity since their introduction in 1997 (originally known as Medicare Part C). They are now used by over half of Medicare beneficiaries, according to the KFF analysis below.

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This steady growth highlights the increasing popularity of Medicare Advantage plans compared to Original Medicare. However, it remains unclear whether this trend will continue, given the evolving health insurance landscape and proposed legislative changes set to take effect in 2026.

Here are a few ideas to consider when considering your coverage needs:

• Check your Annual Notice of Change: This will show if premiums, deductibles, or copayments are increasing—or if your preferred doctors and prescriptions will still be covered.

• Evaluate Prescription Drug Coverage: Drug formularies (the list of covered medications) can shift annually. Confirm that your medications are still included, and compare plans to find the lowest out-of-pocket costs at your preferred pharmacy.

• Assess Changes in Health Needs: If you’ve had new diagnoses or other health changes, your current plan may no longer fit as well as it once did. Open Enrollment is your opportunity to realign your coverage with your current situation.

What’s the Big Deal?

If you’re considering switching between Medicare Advantage and Original Medicare, it’s important to understand the distinct benefits and trade-offs between the two types of plans:

• Coverage Structure: Medicare Advantage (Part C) is offered by private insurers approved by Medicare, typically through HMOs or PPOs (which often have network restrictions and can change each year). Original Medicare (Parts A and B) is administered directly by the federal government, allowing beneficiaries to see any provider that accepts Medicare nationwide.

• Costs and Out-of-Pocket Limits: Medicare Advantage plans are required to have annual out-of-pocket caps, offering some financial protection but with varying cost-sharing structures. Original Medicare generally has no annual out-of-pocket maximum, though Medigap coverage is available for purchase to fill cost gaps.

• Additional Benefits: Medicare Advantage plans often include vision, dental, hearing, fitness programs, and prescription drug coverage (Part D). Original Medicare covers only medically necessary services, with extras requiring supplemental plans.

You can learn more about 2026 Medicare plan options and changes on the Medicare website (www.medicare.gov) or in the Medicare & You handbook (http://bit.ly/3L5znKf).

We’re Here to Help!

Your advisor is available to help, too, so please reach out if you have a general question or would like a comprehensive review of your plan — we'd be happy to provide insights and guide you in the right direction.

Health Care Proxy: Your Trusted Advocate

by Ben Jennings, Lead Advisor, CFP®

Over the last couple of months, we’ve been thinking together about the people involved in various aspects of your estate planning. We’ve addressed the needs of children and handled financial matters. Lastly, let’s discuss health care.

As we go through life, most of us come to find that managing health care is a complex task that we often wish were easier or less time-consuming. Managing someone else’s health care can be even more challenging!

You’ll begin by defining what you’re asking someone—your health care proxy—to handle on your behalf.

Your Health Care Proxy

First, you are asking them to follow and advocate for the desires you express in an advance directive (i.e., directions given in advance, in writing). These documents—called health care directives or living wills—spell out the specific procedures or approaches you may or may not want in particular health care circumstances. Additionally, there may be health situations not addressed by an advance directive in which your proxy will need to make decisions on your behalf.

So, what are the qualities to consider in the person you’re asking to fulfill this role as a surrogate decision-maker? Let me suggest several characteristics:

• An ability to ask good questions and to process complex information.

• The strength to honor previous commitments during emotionally charged times.

• Willingness to consult with and make other loved ones feel heard, while ultimately accepting responsibility for making the decision you would expect them to make to the best of their ability (that is, not merely moderating a family council).

• Location—being physically nearby may be more important for a health surrogate than for a financial surrogate; it enables better timeliness and communication.

• Reason and sound decision-making.

• Self-confidence to live with hard decisions and not second-guess themself.

• Care and love without sentimentality.

Beyond your advance directive document, it’s important to communicate with your proxy regarding your preferences in various situations. Medicine is ever-evolving, as are care and treatment options. Our preferences for care can often shift when the moment of care arrives—life rarely happens exactly as we’d imagine it. So it is likely your proxy may have to go beyond the intent and preferences expressed in your advance directive. How do they do this?

Decisions That Define Care

Substituted Judgment

The proxy asks themself, “What would X want?” Under this standard, the proxy (agent) uses their knowledge of your values, beliefs, priorities, and any preferences you have previously expressed to guide their choice on your behalf.

Best Interest

When it’s not possible to use substituted judgment, they may instead use a “best interest” standard; your proxy will decide based on what they believe to be most beneficial for your overall well-being. “What is best for X?”

Supported Decision-Making

There is one more perspective or approach I want to mention. It may be that, rather than the proxy taking over decisions from you, it may be possible for them to consider the options for treatment collaboratively with you. We call this “supported decision-making”. It can be very helpful in complex situations—when you are overwhelmed and your internal resources are sapped—for your proxy to walk you through an assessment of the alternatives before you decide.

Your health care proxy is not just someone who “pulls the plug.” Their responsibility may be of brief or intense duration, but it’s also possible that they will partner with you and influence your health care over a long, long period of time.

We’re Here to Help

Your advisor at SoundView is ready to discuss aspects of this choice with you if you have questions, concerns, or need to weigh the different factors involved in the decision.

Chart of the Month: Protect the Pile, or Something Better?

by Austin Boyce

A comprehensive estate plan protects your property while you’re alive and sets out how it will be distributed to the people or organizations you care about after you pass away (See Ben Jenning’s article).

Due to the effects of compound interest and increased savings, our asset base grows as we age. As the chart below shows, Baby Boomers are a testament to this wealth creation, leading the way (by generation) with $82.4 trillion in net worth. This accumulation of wealth has set the stage for the largest wealth transfer in American history.

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Although assets generally increase in value over time, it’s essential to define your financial objectives; needs and goals vary by individual. Is your goal to accumulate as much as possible and dive into it like Scrooge McDuck, satisfied by the sheer size of your wealth? Or do you see money as a way to create ease, joy, and lasting memories with family and friends? Maybe your deepest desire is to give generously to causes that shaped your life or impacted others in meaningful ways—or perhaps it’s a mix of all three.

It’s important to stay mindful of your financial goals and to establish a plan that covers both your lifetime needs and the legacy you leave behind.

Creating this plan is a crucial part of the estate planning process. Knowing what is most important to you (and your loved ones) guides you toward choices that result in a deeply satisfying life. Your SoundView Advisor is here to help you navigate this journey with thoughtful questions and insights for the road ahead.

The People Protecting Your Stuff

by Ben Jennings, Lead Advisor, CFP®

Last month, we began a series we could call “The People in Your (Estate) Plan.” We started with the people designated for roles that protect your kids. This time, I’d like to think about the people protecting your stuff (that’s a fancy legal term!).

Who are we talking about?

These roles commonly fall into two broad categories under three titles.

First, you will name a person to act in your stead after you pass away to pay your financial obligations and eventually distribute your resources to the folks you want to have those assets. We used to refer to this person as your executor, but the modern term is Personal Representative.

Second, you may need to name someone to manage your financial affairs while you are still alive. This is your Agent under your durable power of attorney (DPOA). It’s like the old driver education car that comes with an extra set of controls. You can still handle those tasks you’re up for, but we add an additional person who can assist as needed. (Note: if you lose the capacity to manage your affairs prudently, a court can name a similar person, termed a guardian or conservator, to make decisions for you. In this situation, however, they take over responsibility for your decision-making rather than sharing the duties with you.)

The third common title is Trustee. Depending on the situation and the approach in your estate plan, your trustee may act on your behalf before and/or after your passing - so they sort of fall into both of the categories above.

What to Look For

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All of these roles involve fiduciary responsibility. This means the person in the role has a legal obligation to put your best interests first in their decisions and actions. So, you obviously want someone who is trustworthy and of good character; integrity is a must. What else should you look for when naming someone to fulfill these roles for you?

• Top of the list in my mind is a proven ability to be organized and pay attention to detail.

• Next, these folks are going to make decisions that will impact your family and other heirs. It’s helpful for them to be able to explain their choices calmly and logically, ideally in a way that will avoid ruffling feathers or feelings. Diplomacy, patience, and effective communication are needed!

• Further, your fiduciaries need to have adequate capacity to take on a set of tasks that not only consume significant time but also go on for months at an absolute minimum, and more likely for several years.

What Else to Know?

• You need more than one. We suggest that for every role in your estate plan, you name a primary person and two back-ups.

• On the other hand, you need only one at a time. Clients sometimes want to have people “share” roles. Our experience suggests that this is a recipe for strife during an emotionally charged time.

• These are not small jobs. Even if the person is a beneficiary of your estate, we suggest allowing for reasonable compensation for the time these duties will require.

• The time to learn you’re being selected for a role like this is not when it’s time to get to work in the role. Have communication in advance with the people you want to select as your fiduciaries!

It can be a tall order to choose the right people for this. It is, however, worth the attention and consideration it deserves. If you would like to discuss this with us during our meeting this fall, we welcome the conversation!

Chart of the Month: Who’s Got the Will?

by Austin Boyce

The SoundView team has been preparing for your upcoming meetings, and as the newest member of the Advisory team, I continue to delve into the realm of Estate Planning. In a deep dive into the interwebs, I learned that over 50% of respondents to a survey from Caring.com did not have any estate planning documents! While many of you already have an estate plan in place (we all know SoundView clients are the best clients), it can be even trickier to understand when an update might be needed.

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Estate plans are extremely important. They ensure your assets are distributed as you wish and are used to name people to carry out various estate settlement roles, including guardians for your minor children or pets. When someone dies without estate planning documents, states have intestacy laws that identify heirs and the order of succession, and courts are involved in deciding guardianship. As you can imagine, it is very possible for an individual’s final wishes not to always align with the state law.

There are several reasons to update your estate plan, including changes in assets, marriage or divorce, tax law updates, and the birth or adoption of a child, among others. While some of these reasons require a reactive response (we won’t know a new tax law is in place until it is enacted), at SoundView, we prefer to take a proactive approach to anticipate issues whenever possible.

This fall, we’ll review your estate documents so they match your current wishes, and, if needed, connect you with a trusted attorney and help implement the changes.

Estate of Mind: Is Your Plan Current?

by Ben Jennings, Lead Advisor, CFP®

This fall, we will focus our client meetings on reviewing your estate plan. I’ve been asked to stimulate your pre-thinking about some topics that may arise in our discussions. In this article, and in a few that will follow, I want to focus on the people in your plan.

Since it is back-to-school season, let’s start with the little (or not-so-little!) people who might be a part of your plan. I’m referring, of course, to your children!

Older Children
First, let’s not ignore those not-so-little people - your adult children. Young adults past the age of 17 likely need their own basic estate planning documents, including a will, powers of attorney for financial and medical decisions, and a HIPAA authorization. If these are not in place, please discuss this with your advisor.

Younger Children
Next, the more difficult issue - how to provide for the nurture of your younger children, should they not have a living parent. There is a possible division to this topic that may be useful: distinguishing between the daily hands-on care needed for the physical, emotional, and spiritual development of your child, and the management of the resources required to support that child. Language varies by state, and there is definitely overlap, but in general, we think of these two roles as:

1. Guardianship. The minor’s guardian makes decisions related to daily life, education, and health.

2. Conservator. This role focuses on managing assets and finances.

I’ve also heard this distinction expressed as the conservator of the person versus the conservator of the property. Whether you choose to divide the roles or appoint the same person to both roles may depend on both the person you have in mind and whether you think it is appropriate to divide these duties.

Here are a few further points to consider: 

1. Your child’s age. Are they quite young and likely to become essentially an additional sibling in the guardian’s family? Or are they nearing adulthood and unlikely to be incorporated into the guardian’s family so directly?

2. The guardian and their family. Do they have other children? Are there health concerns?

3. The financial position of your intended guardian. Will they need to change residences to care for your children? (If so, would you cover the cost of that?) If you want available resources to pay for activities such as music lessons for your children, what about your guardian’s children - would you want to provide resources to supplement their activities in the same way? What other financial impact might there be on the guardian?

No matter who you name, without doubt, this should be discussed with your potential guardian(s) before you name them in a document. Indeed, you may find it beneficial to explore their concerns and questions before adopting any arrangements.

These are not easy choices, and there is likely no perfect alternative- so don’t wait to put one in place to make arrangements. It may be useful to think of the people you name for these roles to be “interim” choices, as it is relatively straightforward to name other persons in the future should your assessment of what would be best change over time.

Chart of the Month, August 2025: Password Reset Required

by Kevin Slater, Lead Advisor & CEO

Last fall, we spoke with each of our clients about risk management. Each of the topics we discussed involved some level of ongoing monitoring, but there is one area that may need more frequent monitoring than others: Passwords.

In today's digital world, a major risk is having a bad actor tap into one or more of your many online accounts.  This might be a financial account by which they could covertly steal funds or fraudulently take loans in your name.

Or it could be a social network or other account through which they could cause havoc, personal embarrassment, or hold information for ransom.  In fact, it can be quite difficult to regain access to your accounts and prove your own identity.     

Utilizing a commonly used password leaves your private information exposed.  Hopefully, you aren’t using any of the passwords in this month’s chart!

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THERE IS A BETTER (AND EASIER) WAY

You may have a bad habit of using the same password over and over again to avoid having to remember so many. However, if a hacker is able to access one account, they now have access to many when the password is used for multiple accounts.   Each of your accounts should have its own unique password. Password managers enable you to quickly generate and store many more unique, complex passwords and easily update them.

If you aren’t using complex passwords or are not updating them regularly, please take action today. A few minutes of time now can save you hours of aggravation and thousands of dollars in damages. Here are some suggestions from the industry you might consider using:

PC Magazines’ Best Password Managers for 2025
https://www.pcmag.com/picks/the-best-password-managers

Wired’s Best Password Managers to Secure your digital life
https://www.wired.com/story/best-password-managers/

Our Seattle Office is Moving… 150 Feet!

by Krista Wallace, CFP®, AFC®

After ten years of bliss on the 35th floor of 1000 2nd Ave, we’ve decided to make a big change for the firm. On August 6th, we are relocating our Seattle offices to a larger space, a whole four floors down, Suite 3100! This move reflects the incredible progress we’ve made and is a testament to the support of our clients, partners, and dedicated team members.

“The Seattle real estate market gave us an affordable opportunity to increase our space and make some [modest] upgrades,” said Kevin Slater (CEO). “We want a space that is comfortable for our team and worth the trip for our clients.” The new office will allow for more collaborative work areas, upgraded amenities, and space to accommodate future growth as we continue to add talent.

We really do love seeing you in person. If you can swing a visit for your next meeting, we’d be sure to roll out the red carpet for you! With more restaurants opening within walking distance (the waterfront is just 3 blocks away!) and parking on our dime, it’s a great excuse for a mid-week date!

NATE & LISA: LITERAL HEROES

The transition should be seamless for our clients and partners. Our phone numbers and contact details will remain the same, and there will be no disruption in service or communication during the move, thanks to the work of our operations duo: Nate Porter and Lisa Graber.

Lisa noted that the environment will be — “a brighter, more spacious, and modern setting” designed to foster collaboration. Austin Boyce (Relationship Manager, Trading Analyst) is “excited for a shorter elevator ride to increase my efficiency AND a new office for my birthday.”

We look forward to welcoming visitors to our new space soon and continuing to grow — together. Thank you for being a part of our journey.

Chart of the Month, June 2025: It’s Paving Season!

by Kevin Slater, Lead Advisor & CEO

Summer in the Pacific Northwest means that any road you take will be under construction. Sure, the idea is to endure temporary inconveniences (misery?) as crews “improve” road surfaces, making them safer and more reliable for the long run. Unfortunately, it seems the Department of Transportation and I often have very different definitions of what “temporary” means, let alone “improve”.

In our chart of the month, we look back on the year-to-date performance of the four major indices, which reflect the largest portions of our portfolios. As a quick reminder:

• S&P 500 tracks the stock prices of the largest U.S. companies

• S&P 600 tracks small U.S. companies

• MSCI EAFE tracks companies in developed markets outside of the U.S., such as Germany, France, Switzerland, Japan, Australia, etc.

• Bloomberg US Aggregate tracks U.S. investment-grade bond prices.

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It was a rough road for US stocks (both large and small) from late February to mid-April.  International stocks have had a far better year, albeit with a big pothole in April.

The road looks invitingly smooth now, but have the underlying issues that caused the bumps been fully fixed? I don’t think so. There are still looming questions about tariffs, international relations, and U.S. fiscal policy. It is possible these issues are addressed without tearing up the road of the markets, so to speak, but I suspect we might experience more road repairs before the year is out.

We cannot accurately predict where the market potholes will appear, so we plan to remain invested and wait out the delays patiently as they arise. We may make some very minor changes to our investments later this summer, but they would be akin to using an adjacent lane moving in the same direction on the same road as opposed to choosing a different route altogether.

Please feel free to reach out to us whether the road feels smooth or bumpy, or if you are stuck watching road crews. We are in it with you for the long haul!

Employee Spotlight: SVA’s Summer Plans

Assembled by Krista Wallace, CFP®, AFC®

Summer’s here, and while our teams stay fully covered, we’re urging everyone to carve out moments (or weeks) for family fun and relaxation. Whether it’s backyard barbecues, day trips, or just unwinding, we all hope to make the most of sunny days, share laughter, and create lasting memories. We hope the same for you!

Lisa Graber (Business Operations)

The Grabers are packing their bags more than once this summer. First, they're heading “home” to Kansas to spend time with family and honor Lisa’s amazing mother-in-law, who lived an epic 98 years—nearly a full century of sass, stories, and family legend status.

Then a change of scenery with a few days in Poulsbo, WA—also known as “Little Norway”—for some small-town charm, kayaking, Nordic vibes, and waterfront exploring. And for a splash of adrenaline? They’re capping it all off with a thrilling jet-boat ride through the canyons of southern Oregon.

Nate Porter (COO & Owner)

The family is heading down to Oregon to visit family over the Fourth of July. The kids are signed up for a few camps, and they’ve got a group camping trip planned with friends. But honestly, what they’re most excited about is staying home, enjoying their yard, and soaking up the magic of a Pacific Northwest summer. No big trips—and for this year at least, they like it that way.

Kevin Slater (Lead Advisor & Owner & CEO)

Summer came early for the Slaters with an April trip to Italy. Thousands of steps were logged, and all returned home with perspective on the world – and a little limoncello to share.

For the rest of the season, Kevin will be contemplating the meaning of life as his oldest daughter prepares to begin high school. Summer wraps with visits to and from the Midwest and some pinball action with the SoundView team.

Ben Jennings (Lead Advisor)

Ben has plans to develop and execute the “perfect” spreadsheet full of cost/benefit analysis, cross-referenced with his credit card points balances. (My heart’s beating fast, already!) Add in a little fun with global exchange rates and he’ll be spending his free time sizing up his next great adventure – or training for the Microsoft Excel World Championships in Vegas!

Kevin Rigg (Lead Advisor & Owner & CFO)

Summer plans are relatively low-key this year for the Riggs, who will be spending time in northern Idaho and eastern Washington. First up – a family reunion near Lake Coeur d'Alene, followed by a 30-year high school reunion in Moscow, ID. Finishing up the summer “hat trick” with Gonzaga soccer in Spokane (GO BULLDOGS!)

Krista Wallace (Advisor)

Summer is always a busy time for my family, with a variety of camps and small adventures to enjoy. On this year’s list? Hadestown (Teen Edition) for my oldest, who has caught the theater bug, and a combination of dance and art camps for my youngest. I will spend time with friends learning to paddleboard and close out the summer with golf lessons. We’re planning to track down (most) of the PNW’s trolls and spend plenty of time by the water with a few good books and plenty of sunblock! We can’t wait!

Nichole Harrison (Advisor)

Big transitions are underway at Nichole’s place this summer. With the oldest heading off to college in the fall, his departure has sparked a full-blown room reshuffling. The girls have declared a friendly (but firm) takeover—each claiming her own space for the first time. No more sister messes, no more mysterious clothing disappearances, and plenty of Pinterest-worthy plans for revamping their new domains. Meanwhile, her second son is just weeks away from earning his driver’s license, which means new independence (for him) and a lot more “Where’s the car?” moments for the rest of the family.

As for Nichole, she’s staying grounded in the rhythm of the season, keeping pace with ripening berries, weekend trail miles, and the occasional plunge into an icy mountain lake. It’s a season full of movement and stillness, rooted in gratitude and the magic of sunshine in the Pacific Northwest.

Austin Boyce (Advisor & Trading)

With two young kids, long trips are put on hold for a while. Austin will be taking a much-needed break from coaching T-Ball (4.5-year-olds know how to play hardball when they step up to the plate). He is looking forward to a long weekend in Suncadia for their summer trip. The rest of the summer, undoubtedly, will be filled with sidewalk chalk, bubbles, and the pool.

Debbie Wyman (Client Operations)

Editor’s imagining of Debbie’s “dream greenhouse”. Debbie’s actual dream greenhouse may differ slightly.

Deb’s theme for the summer is “rebuild and regenerate,” starting with her garden and greenhouse area. She also has a camping trip with friends to tour a few wineries in the Salem, Oregon area over the July 4th weekend. Bowling nights, softball tournaments, and wine/painting evenings may also make an appearance.

Sophea Vasquez-Solis (Client Operations)

After a full travel schedule in 2024, Sophea and her family are taking time to recharge their batteries. They have a trip to Lake Chelan and Point No Point planned for the summer, followed by plenty of muscles worked (and dollars spent) scouring the fashion landscape for the latest back-to-school styles.

Estate Planning 101

by Austin Boyce, Advisor & Trading Analyst

There are many facets to an estate plan, and the terminology often isn’t part of our day-to-day conversations. That alone can make the topic feel overwhelming. Add to that the sadness that can come with thinking about the end of life, and it’s easy to see why estate planning is so often neglected.

An estate plan is simply a set of legal documents that spell out your wishes for your assets, healthcare, and loved ones—both during your life and after.

Fear not—in an effort to help you feel prepared, we’re heading back to the classroom. Think of this as a friendly refresher course, where we’ll review and highlight the key documents and terms that form the foundation of a solid estate plan. We’ll take it step by step, cutting through the jargon and giving you the confidence to engage with the process.

Estate planning will be the focus of our fall Strategic Planning meetings, and this primer is designed to help you come in informed, ready, and confident.

COMMON DOCUMENTS:

Last Will and Testament
Helps facilitate an efficient process for handling your estate. It outlines how assets should be distributed, names a personal representative, and designates a guardian (or guardians) for minor children.

Power of Attorney (POA)
Allows you to name a person or organization to manage specific aspects of your life. Medical and financial are two common types of Powers of Attorney. Some documents now also include a digital Power of Attorney. These documents can be immediately active or become active only after a specific set of conditions are met (known as Springing Powers of Attorney).

Living Will
Allows you to express your medical treatment preferences in advance. This is especially important when it comes to life-sustaining procedures and palliative care if you’re unable to communicate your wishes. Having this document in place can reduce or remove the pressure on your medical Power of Attorney to make these difficult decisions.

Trust
A legal document that governs how and when to transfer assets. Trusts can be used to maintain privacy by avoiding probate (described below).

Revocable Trust
Allows the trust creator to retain control of their assets during their lifetime, with the flexibility to change or revoke the trust at any time.

Irrevocable Trust
Cannot be modified once created. Assets placed in an irrevocable trust are generally protected from creditors, and the trust may help reduce taxes for the creator. The trust creator can also specify exactly how and when funds or property within the trust should be distributed.

COMMON TERMS:

Beneficiary
The person or entity named to receive specific accounts, such as a 401(k), IRA, or life insurance policy.

Personal Representative
Named in the will and responsible for carrying out the instructions within it.

Probate
The legal process of validating a will, settling debts with creditors, and distributing assets to the appropriate parties.

Intestate
The term used when someone passes away without a will. In this case, the courts use state laws to determine how assets will be distributed.

Estate Tax
A tax paid by the estate based on the total value of assets (cash, investments, property, etc.) above the exemption amount. This tax may be imposed at both the federal and state levels. (See Chart of the Month)

Inheritance Tax
A tax paid by the beneficiary based on the value of the assets they receive and their relationship to the deceased. This tax is only imposed at the state level and is currently applicable in six states. (See Chart of the Month)

PREPARING FOR MEANINGFUL ESTATE PLANNING CONVERSATIONS

While these lists are not exhaustive, they provide a solid starting point for foundational knowledge around estate planning. During your fall meeting, your advisor will walk you through the flow of your estate to ensure your documents reflect your current wishes.

Hopefully, having a baseline understanding of some common documents and terms will help you begin thinking about any changes you may want to make and feel more prepared for our upcoming conversations.

A little proactive planning can go a long way in ensuring your wishes are honored when you can no longer speak or act for yourself. For more complex situations, your advisor will also be able to illustrate different scenarios for your consideration.

Chart of the Month: Estate Planning by the Numbers

by Kevin Rigg, CFP®, CPA® & Krista Wallace, CFP®, AFC®

Annual Reviews—our spring client meetings—are nearly complete, and we’re already looking ahead to our Strategic Planning Meetings this fall, where we’ll dig deeper into estate planning with our clients. We’re preparing to review current documents, analyze existing plans, consider various strategies, and help facilitate necessary changes.

This month’s chart illustrates which states impose estate and/or inheritance taxes. For many Americans, the federal estate tax is not a concern, as the current exemption amount is $13.99 million, allowing married couples to shield up to $27.98 million from federal estate tax. (It’s worth noting that this exemption is set to expire at the end of 2025, absent further legislative changes, and could look very different in 2026.)

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As the chart shows, many individual states have their own estate or inheritance tax systems, and those impact far more people, largely because the exemption amounts are much lower than the federal threshold. For example, here in Washington State, the estate tax exemption is just $3.0 million. While that amount recently increased from roughly $2.2 million, due to new legislation, it remains significantly below the federal exemption.

Will estate taxes in your state impact the planning you should consider, even if the federal estate tax isn’t currently a concern? Could federal or state legislative changes affect the planning you’ve already done? These are great questions, and they’re part of why estate planning will be a top priority in our fall meetings.

At those meetings, we’ll address these issues directly, providing updates on relevant legislation, calculating potential exposure to estate taxes at both the state and federal levels, and suggesting strategies to consider.

At SoundView Advisors, we believe in a proactive approach to estate planning, and we’re looking forward to sitting down with you this fall. Our goal is to make sure your plan is current, aligns with today’s laws, and—most importantly—reflects your values and long-term priorities.

Estate Planning: Cleaning Out the Fridge Before Vacation

by Kevin Rigg, Lead Advisor, CFP®

No one loves cleaning out the fridge before vacation. It's not fun, it's not glamorous, and there’s often something in the back you have forgotten about. But it's a necessary step to avoid returning home to an unpleasant surprise.

Estate planning is similar in that it’s not always top of mind; however, when done well, it can prevent future confusion and uncertainty, providing your loved ones with the clarity and support they’ll need when it matters most.

That’s why estate planning is the focus of our 2025 Strategic Planning meetings. This year, our goal is simple: to ensure that every client has an estate plan that is current, consistent, and clear.

Being current means that your plan reflects the latest estate laws and financial strategies. It aligns with today’s environment, not yesterday’s assumptions. Consistency ensures your planning reflects your true intentions, values, and family dynamics. And clarity is about making sure every person involved can understand what’s in place—no confusion, no surprises.

Turning ‘Someday’ into a Solid Plan

Our process will involve assisting each client in organizing and confirming the details of their estate. This includes reviewing and updating essential legal documents, verifying the accuracy of beneficiary designations and asset titling, and ensuring that everything is stored securely and accessibly. Additionally, we are documenting your estate-related priorities and completing a genogram (family tree) to clarify relationships and decision-making roles.

Every client will receive a comprehensive overview of their estate plan, including document summaries, a statement of estate net worth, a visual flowchart of the asset distribution plan, and estate tax projections. For those with more complex needs, we’ll also model advanced planning strategies and provide supplemental resources where appropriate.

And finally, we will actively assist with implementing any necessary changes, whether that involves coordinating with your attorney to update documents, revising beneficiaries, retitling assets, or helping to develop a thoughtful communication plan for family members and heirs.

Leave a Legacy, Not a Mess

At its core, this isn’t just about updating forms or running tax projections—it’s about providing you with peace of mind. It’s about ensuring that your legacy is managed with the same care, intention, and clarity that you strive for in every other aspect of your financial life.

So, let’s clean out the fridge, so to speak. It may not be glamorous, but it’s one of the most considerate things you can do for the people you care about most.

Chart of the Month: Investing is a Yo-Yo, Not a Rocket Ship

by Austin Boyce, Advisor & Trading Analyst

2025 has given us plenty of ups and downs, and we are only four months into the year! Some of you have proactively expressed your concerns and questions during our Annual Review meetings, specifically questioning whether the current economic climate warrants a new direction for our investments.  The answer to that is always, “It depends.”

While it can be easy to get caught up in the daily headlines that often skew negative, playing on our fears, it is important to remember that volatility is normal. One of my favorite analogies for investing in the stock market is yo-yoing while walking uphill. The short-term swings may take you up and down, but over time, you'll find yourself higher on the hill.

It can be helpful to think of a downturn as the price of admission to the market instead of a penalty. Enduring the downturns means you can enjoy the upswings. The chart below shows intra-year declines and the total return for the S&P 500 by year. Looking at last year, you can see the market was down 8% at one point during the year, but was up 25% from January 1st to December 31st.

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At SoundView, we work closely with clients to develop a financial plan, which includes an investment strategy designed to withstand market downturns. We understand that volatility is a matter of when, not if, so we utilize a globally diversified portfolio that aligns with client needs and risk tolerance, ensuring we have a strategy that can ride out the market’s yo-yo moments without losing sight of the uphill climb.

Control What You Can: Financial Planning in Uncertain Times

by Kevin Rigg, CFP®, CPA®  &  Krista Wallace, CFP®, AFC®

Hope is not a strategy. Luck is not a factor. Fear is not an option.  
- James Cameron, American Filmmaker

 As the days start to lengthen (thank you, daylight savings time), we find ourselves navigating the darkness with hope. Hope for warmer weather. Hope for sunlight. Hope for outdoor activity. Hope for change.

The first quarter of 2025 presented a sharp contrast to the close of 2024. Sweeping changes over this timeframe have heightened investor concerns about the economic environment and impact on investment markets. As a result, the market has reacted with some turbulence.

When we experience sudden change, it can cause us to feel unsteady and even hopeless when we perceive the change as negative. However, if we see the change in a positive light, we can often find ourselves rejoicing in our good fortune (or “luck”).  When we find ourselves feeling uncertain and anxious, we often feel called to action, but what actions are appropriate, and how do we find hope in the midst of turmoil?  

One of our advisors noted that his basketball coach often said, “You can only control your effort and your attitude in the game,” this wisdom applies beyond the court. While uncertainty is an inherent part of economic and market cycles, it can be difficult for us to find perspective while it is occurring.  As advisors, we aim to help you focus on what you can control, those things most important to your long-term financial plan, and reduce anxieties about the things outside your control.

You can’t control everything, but you can control your financial strategy. This graphic helps separate the noise from what truly matters—and we’re here to help along the way.

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Your advisor is available to discuss your concerns with you, and it will be a priority during your upcoming Annual Review meeting this spring.  

Questions are always welcome at any time.  

Chart of the Month: Trade and the Markets

by Ben Jennings, Lead Advisor, CFP®

It's been a dynamic first quarter of 2025 in the markets. The US stock market has rapidly shifted between achieving an all-time high in February and a correction (10% decline from the high) in March.

One topic impacting the markets in a big way is the anticipation of coming tariffs. To understand the impact of tariffs, it's important to consider some historical context about the US balance of trade - also called our trade surpluses or deficits.

• The US began as a country with persistent trade deficits (from 1800 to 1870, we had a trade deficit for all but 3 years).

• In 1870, following the Civil War, we began 100 years of consistent trade surpluses.

• Starting about 1970, we shifted to trade deficits again, and 2025 marks the 50th anniversary of annual trade deficits for the US (we last had a trade surplus in 1975).

Below, you’ll see a chart showing the trend of monthly trade deficits over the past 35 years (Note: the dotted line is the average over the period, not the zero line!). A trade deficit happens when we (as a country) consume more than we produce - either taking on credit or transferring assets to pay for the difference.

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While trade deficits were modest in the 1970s and 1980s, the deficit was over $900 billion annually in 2024 - comprising 78% of trade deficits worldwide (add up all the trade deficits worldwide, and we’ve got ~80% of them!). Note the $131 billion monthly deficit shown in the chart for January 2025 is a result of a temporary jump in anticipation of coming tariffs.

Tariff Use Through History

The US has a long history of using tariffs. Before Alexander Hamilton was singing and dancing, he was promoting the Tariff Act of 1789 - the first major piece of legislation passed by the newly formed US Congress and signed by President George Washington.

More recently, President Trump employed tariffs in his first term, and President Biden continued and even expanded many of these during his term in office. Entering Trump’s second term, tariffs are dominating headlines in an even bigger way.

Tariffs are used to raise revenue, to impact trade, and to influence foreign governments - though it’s hard to achieve all three purposes simultaneously.

The new administration seems to have each of these purposes in mind for various aspects of the tariffs they have proposed or implemented:

• Initially, for example, the tariffs announced on Mexico, Canada, and China were focused on influencing those governments to make more significant efforts toward reducing the flow of fentanyl and undocumented immigrants into the US.

• Other announced tariffs are focused on influencing trade in particular sectors (e.g., steel and aluminum).

• Tariffs have also been presented as a tool to reduce the federal government’s budget deficits.

Impacts on the 2025 Market

OK, let’s tie all this back to this quarter’s market volatility. Tariffs are likely to slow economic growth, at least temporarily and in the short term. The pronounced and accelerating emphasis on tariffs in US policies is contributing to market volatility for a couple of reasons:

•  First, there’s some uncertainty day-to-day as to what tariffs might be in place and how other countries will react.

• Secondly, even if we knew what tariffs the US and other countries might have in place later in 2025, we won’t know how that will impact companies' earnings (which drive market prices).

After reading this, you may not think better or worse about tariffs, but hopefully, this will help you put the evening news in a broader context.

Your Advisor is available to answer questions about current volatility and its impacts on your portfolio.

Jump(ing) Ahead: Keeping Meetings Personal in a Digital World

Nate Porter, Chief Operating Officer

This month we have started using a new note-taking application called Jump to help document our client meetings. Jump acts as a virtual stenographer. It will “sit in” on our client meetings, transcribe the conversation, and then draw up a first draft of meeting notes, summaries, and suggestions for follow-up.

Considering the Benefits

Our hope is that Jump will enhance human connection during our meetings and ensure more accurate follow-up afterward. We have done quite a bit of research on this topic, and we are confident this is a meaningful step forward for our team and, most importantly, our clients. Here’s why:

More Focus, Less Distraction

Jump frees our Advisors from constant notetaking during meetings, allowing them to engage in conversations fully. Instead of looking down at a notepad or keyboard, they can focus on listening, discussing, and advising.

More Efficiency, Less Administrative Drag

Incorporating Jump into our process means faster meeting summaries, more organized records, and improved collaboration. Ultimately, our goal is to keep our team informed on the outcome of our meetings and focused on serving clients.

More Accurate, Actionable Follow-up

Jump will capture every key decision, follow-up, and action item. This ensures precise communication, streamlined and faster execution, and consistent documentation for our SEC compliance requirements.

Considering the Risks

Sometimes, I feel like my superpower must be “Healthy Skepticism.” When the topic of AI is mentioned, for example, my spidey sense REALLY starts to tingle. I have MANY questions. Here are some of the topics that we had to work through before deciding to partner with Jump:

Client data security & privacy are of top concern. Will Jump use our meeting data for training or sell our information?

Thankfully, no. Unlike some AI tools that collect and use data to refine their models, Jump does not train its models using client data or sell or share any information. Firm and client information is not added to the “data pool.” Using Jump, our conversations remain as confidential as they always have been.

Additionally, Jump complies with strict data privacy and security protocols, including SOC2 Type II compliance, end-to-end encryption, and multi-factor authentication through Microsoft. This ensures that all client data remains protected and inaccessible to unauthorized parties. We also maintain control over data retention policies, allowing us to determine how long meeting records are stored before they are deleted.

We must remain transparent. Will clients know when AI notetaking is being used? Can they opt out?

Every participant in a meeting will be informed when an AI note-taker is being used. If the meeting is conducted virtually, you will see the “SVA Notes” participant. If the meeting is in person, the meeting will be captured via a secure App. If clients would prefer we not use this tool, they can say so anytime, and we will turn it off.

Could AI misinterpret what is said in a meeting?

It ABSOLUTELY can. It can misunderstand words, miss subtle meanings, or even misidentify key takeaways. An advisor will review every AI-generated note before it is saved or shared. Essentially, Jump is writing a first draft, not doing our work for us.

We prioritize human connection above all else. Can AI understand tone, sarcasm, or non-verbal cues?

AI is a great tool, but a tool is all it is. It will never replace human judgment, interaction, and reasoning. Unlike a person, AI cannot read body language, detect sarcasm or anxiety, or read subtle shifts in tone. Our Advisors, on the other hand, will remain fully engaged in meetings, ensuring that context, intent, and emotion are properly understood and communicated.

Your Experience, Your Choice

So that you know, your advisor will remind you about Jump at the beginning of your next meeting. If you would prefer that we not use the tool, please let us know. Our priority is to serve you in the way that best aligns with your preferences and comfort.

One last thing: this article provides a high-level overview of our thinking. If you would like to learn more about Jump—what it does, what it doesn’t do, our broader stance on the use of AI…. or the price of eggs—I would be happy to chat. Send me an email, and we will talk about it.

Here’s to a better-connected future.

Employee Spotlight: Lisa Graber

by Krista Wallace, Advisor, CFP®

Lisa Graber has been a valued member of the SoundView team for over eight years, most recently serving on the Business Operations team. She and her husband, Michael, recently celebrated 40 years of marriage with a special trip to Italy (pictures below). They have one son, TJ, who lives in Nashville with his wife, Grace, along with their grand-dog, Guinness, and grand-cat, Gabby.

I sat down with Lisa to talk about love, money, and, of course, SoundView.

KW: What do you enjoy most about your role in Business Operations at SoundView?

LG: I love being able to support our clients! Whether it's answering the phones (let’s be honest, no one enjoys a phone tree) or ensuring that our staff have what they need to succeed, I enjoy simplifying processes and keeping things running smoothly. During the past year, I’ve become the first point of contact for new clients, helping them identify what’s needed and making the onboarding process as seamless as possible.

KW: How is your relationship with clients? Do they sometimes show appreciation for you, too?

LG: Absolutely! Sometimes I’ll receive an encouraging email that brightens my day. Other times, returning clients stop by, and we chat about shared interests—Oregon Ducks football (Go Ducks!), cooking, knitting, and more. These connections help me understand our clients better and find ways to improve our processes too!

KW: What’s best about working at SoundView?

LG: The people here make all the difference. Every team member is unique, and I’m constantly learning from them. When I started, I had no idea how much personal growth would come from simply being part of such a great team. It’s an unexpected benefit—having teammates who help me understand both the big picture and the finer details of our work.

KW: With your life experience, SoundView experience, and love experience, any wisdom to share?

LG: I’ve always loved connecting with a wide variety of people—that’s just who I am. I also love to learn and engage in conversations, even when I don’t always agree with someone. If I had to share a lesson, it would be this: Be curious. Ask good questions. Read a few books (not necessarily every book) to educate yourself on areas where you desire growth. We’ve all heard it, “There’s no such thing as a dumb question,” and I wholeheartedly agree.

KW: You and Michael have been married for 40 years—an impressive milestone! What has helped maintain your relationship?

LG: So many things! Michael and I met in high school—I was a senior, and he was a junior. We’ve lived a lot of life together since then. We like to say we grew up together. Early on, I handled our finances because of my bookkeeping background. Over time, we decided Michael should take on the day-to-day management of money, and that shift really improved our communication. We enjoy working together to solve important issues. Last year, we finally updated our estate documents, which was a huge relief. Like any couple, we’ve had our ups and downs, but we’ve found clear communication is what keeps us moving down the road.  I’m incredibly grateful.

Five "This or That" Questions

Candy or flowers for Valentine’s Day? Both!?

Delivered to the office or waiting at home? To the office, of course!

Valentine’s dinner—dine in or eat out? Out!

On Valentine’s Day or around the holiday? Around—I know all about those markups!

Favorite Cuisine? Italian – of course!  Our recent cooking vacation to Italy sealed the deal!