Before the Ball Drops: Highlights and Updates from Our Team

December 2024 - Before The Ball Drops

Carrying the Fight: Lessons from Tennessee's Playoff Run

Tennessee’s historic run to the College Football Playoffs was nothing short of inspiring after posting a 3-7 record just four years ago. While the Vols fell short in the first round game against Ohio State, their resilience and determination throughout the season offer valuable lessons - especially from General Neyland’s seventh game maxim: “Carry the fight to our opponent and keep it there for 60 minutes.” 

The playoff loss reminded us that success doesn’t always come easy. Although the team showed up to play the game, the fight wasn't there for 60 minutes. The difference in the game came down to consistency and execution across all four quarters. Neyland’s maxim teaches us the importance of unwavering focus, endurance, and bringing our best effort every moment.

At LeConte Wealth, we’ve embraced this mindset in our Purpose Built Planning process. This 2024 year was a year of significant growth for our team, as we reached a major milestone of $300 million in assets under management (AUM) and transitioned to a new, purpose-built office in downtown Maryville. These achievements didn’t happen overnight - they required focus, discipline, and a commitment to carrying the fight for our clients’ financial success.  

Just as Tennessee football continues to build on this season’s progress, we’re motivated to carry the momentum forward into 2025. Whether you're navigating life’s financial complexities or striving toward your family’s goals, we’re here to guide you with persistence, strategy, and the determination to help you win your financial game plan.  

Together, let’s make 2025 a year of championship-level success.

Isn't Everyone A Fiduciary?

Not all financial advisors are fiduciaries...

...And the difference could cost you.

In a recent client case, we uncovered neglect, high fees, and unsuitable investments chosen to benefit the advisor, not the client.

As fiduciaries, we operate differently. Our only focus is your financial success. From personalized strategies to transparent fees and tax-efficient planning, we prioritize your best interests every step of the way.

Discover the impact a fiduciary can have on your financial future - Read more here.

Jon Dockery
Managing Partner
LeConte Wealth Management

Bad Planning Fosters Bad Service

Does your financial service match your expectations?

Think about your last restaurant visit. Whether fine dining or a quick drive-thru, your satisfaction likely depended on how well the service met your expectations. Chick-fil-A, for example, thrives by consistently exceeding its customers’ high expectations.

At LeConte Wealth, we apply a similar principle to financial planning. After 11 years in the same location, our move to downtown Maryville wasn’t just about space - it was about creating a client-centered experience. From purposeful meeting spaces to modern technology, every detail was designed to align with your goals and exceed your expectations.

To learn more about how our Purpose Built Planning approach delivers exceptional service, read here.

Hoy Grimm
Managing Partner
LeConte Wealth Management

Recently Published On Financial Friction

 > Change: Why are you Resisting? (From the 2020 archives)

Alex Willard, EA
Purpose Built Planning Director
LeConte Wealth Management

Economy In Focus

The Data: 

• 10 - DOW Jones drops 10 days straight
• 25 - Basis Point Rate Cut
• 27 - S&P 500 P/E Ratio
• 46 - Billion in US Credit Card Loan Defaults

Commentary:

The markets closed December on a turbulent note, with the Dow Jones Industrial Average narrowly ending its longest losing streak since 1974, after dropping for 10 consecutive sessions. Persistent concerns about monetary policy and economic stability have weighed on the markets throughout the month.

The Federal Reserve delivered a 25-basis-point rate cut this month, bringing its benchmark range to 4.25%-4.5%. However, the central bank tempered hopes for aggressive cuts in 2025, signaling a cautious approach to rate reductions. Fed Chair Jerome Powell described the current rate as “meaningfully restrictive” while emphasizing a need for patience to combat inflation without destabilizing the labor market. Wall Street’s expectations for more substantial cuts were dashed, pressuring equity valuations and fueling uncertainty.

Elevated valuations remain a concern, with the S&P 500’s price-to-earnings (P/E) ratio exceeding 27 at year-end - well above its historical average range of 18.8 to 23.2. This “expensive” market dynamic, coupled with rising borrowing costs, has raised questions about the sustainability of current stock prices. not to mention, the 10 largest S&P 500 stocks on December 23 made up 39.9% of the index's market cap (weightings off much, huh?).

Meanwhile, U.S. consumer credit metrics signaled mounting financial strain. Credit card defaults surged to their highest levels since 2010 (through September), with $46 billion in seriously delinquent loans written off in the first nine months of the year - up 50% from the same period in 2023. Ballooning credit card balances, higher interest rates, and dwindling savings have left low-income consumers especially vulnerable. Lenders, like Capital One, reported sharp increases in write-off rates, and delinquencies remain elevated, suggesting more pain ahead in 2025.

As the markets grapple with mixed signals - strong labor markets but weakening consumer finances - investors are left navigating an uncertain landscape. With the Fed scaling back its dovish tone and equity valuations stretched, the start of the new year could bring heightened volatility and a more cautious tone across markets.

LeConte In The News

LeConte Wealth Has A New Home!!

LeConte's growth in the last 2 years is a testament to the excellent people on our team and we need to make room for more team members to meet our current and future client needs. After 11 years in our office on William Blount Drive, we are relocating to new office space in downtown Maryville.

Our office is on the 4th floor at 333 East Broadway in downtown Maryville.

L‍eConte Hosts Maryville High School Seniors

On December 9th, LeConte Wealth welcomed seniors from Maryville High School for Career Exploration Week. Jon and Alex shared insights on careers in business and finance, offering advice on transitioning to college or the workforce.  

The discussion covered key topics, including educational preparation, the importance of internships, and the skills needed to excel in the financial field. Students also had the chance to ask thoughtful questions about daily responsibilities, career challenges, and future opportunities in the industry.  

We were honored to engage with these bright young minds and look forward to seeing how they shape the future!

(Picture of the days schedule below due to students being in the picture)

Contact us

865-379-8200

[email protected]