Evolve and Adapt

July 2025 - Evolve and Adapt

Navigating Change

Change is hard.

Whether it’s a rebrand (like our shift to LeConte Wealth!) or a financial pivot, our brains are wired to resist upheaval. Behavioral finance reveals why: status quo bias makes us cling to the familiar, while loss aversion amplifies fears of what we might lose. Yet, change, like adapting to the OBBB Act’s new charitable rules can unlock opportunities for high earners and givers alike.

Change often feels tough.

Our brains prioritize stability, releasing stress hormones when routines shift. This can lead to hesitation, like delaying NQSO exercises to avoid tax complexity or sticking with outdated giving strategies. But embracing change aligns your wealth with your goals.

Here are a few strategies to help you walk through change:

1. Reframe the Narrative: View change as growth. Instead of “losing” by diversifying NQSOs, see it as “securing” your future.  

2. Break It Down: Tackle big changes in steps. Spread NQSO exercises over years or plan 2025 OBBB deductions now to maximize benefits.  

3. Lean on Your Team: Collaborate with advisors to reduce overconfidence bias. Our Purpose Built Planning model at LeConte Wealth guides you through change with tailored strategies.  

4. Celebrate Small Wins: Track progress, like logging $1,000 non-itemizer deductions, to build momentum.

At LeConte Wealth, our Purpose-Built Planning model - rooted in clarity, collaboration, and action - helps you evolve through change. From optimizing OBBB’s charitable provisions to nudging you toward what matters to you, we align your finances with your values.

Visit lecontewealth.com to explore how we guide you forward!

The Gift of Democracy: Charitable Provisions in the OBBBA

President Trump’s One Big Beautiful Bill Act, signed July 4, 2025, transforms how high earners and nonprofits approach philanthropy. Non-itemizers can now deduct up to $1,000/$2,000 in cash gifts, while itemizers face a 0.5% AGI floor and 35% cap. Corporations must give 1% of taxable income starting 2026. Maximize your giving: time big donations for 2025, track small gifts, and explore corporate partnerships.

Read our analysis to navigate these changes and optimize your financial strategy: Read the full post

Kevin Painter
Founder
LeConte Wealth

Generational Wealth

Independence Day reminds us that building something lasting takes courage, values, and vision.

At LeConte Wealth, that spirit of independence has shaped our journey - from our early days as a small team to now serving multi-generational families with Purpose-Built Planning.

The past year has marked a season of growth and transition. With a refreshed brand, new office expansions, and an incredible team that continues to grow, we’re continuing to build something that lasts for generations.

Want to hear how we got here - and where we’re headed next?

Read the full post here to learn more.

Hoy Grimm
Founder
LeConte Wealth

GRecently Published On Financial Friction

> Where Did All My Money Go?

Jon Dockery, CPA
Managing Partner
LeConte Wealth

Economy In Focus

The Data: 

• 1.4% - Projected U.S. real GDP growth for 2025, down from 2.8% in 2024
• 4.2% - Unemployment rate holding steady in July, despite softening labor market signals
  
• 3.6% - Core PCE inflation expected by Q4 2025, driven by tariff-related pressures
  
• 2.4T - Estimated 10-year deficit increase from the One Big Beautiful Bill Act

Commentary:

As we close out July, the economy is proving to be more resilient than expected. Real GDP grew 3 percent in the second quarter, surpassing the 2.3 percent forecast. This growth was driven by a rebound in the trade balance and steady consumer spending. After a soft first quarter, this rebound is a welcome sign that the U.S. economy is still moving forward, even if at a more measured pace.

The labor market continues to hold steady. July’s unemployment rate remained at 4.2 percent. While hiring has cooled, companies are not making significant cuts to staff. Many employers seem to be taking a wait-and-see approach, maintaining headcount while adjusting to softer demand.

Inflation remains a challenge. Core PCE, the Federal Reserve’s preferred inflation gauge, is currently at 2.5 percent. This is lower than earlier in the year but still above the Fed’s 2 percent target. Trade policy is playing a major role. The “One Big Beautiful Bill Act,” a sweeping tariff package, has supported domestic manufacturing and reduced imports. However, it has also increased costs for businesses and consumers, and it is projected to widen the federal deficit by 2.4 trillion dollars over the next decade.

Some sectors are benefiting from these changes. Manufacturing activity is improving, and reshoring efforts are gaining momentum. Still, consumers are feeling the strain of higher prices, and businesses are managing tighter margins.

Despite these pressures, markets remain optimistic. The S&P 500 has continued its recovery since April. Early earnings reports show that many companies are positioned well for the road ahead. While uncertainty remains, current momentum suggests a stable outlook as we head toward 2026.

Housing affordability continues to decline. The median home price is now 56 percent higher than the median household income, making this the most unaffordable housing market in history. Mortgage rates remain elevated, and residential investment fell 4.6 percent in the second quarter.

As we enter the second half of 2025, the balance between economic strength and price stability is becoming more complex. Growth is holding, but it comes with trade-offs.

At LeConte, we believe that clarity is powerful in uncertain times. Our Purpose-Built Planning process helps clients adapt with confidence by replacing reactive habits with thoughtful, values-driven decisions. With the right plan and the right team, you can keep moving forward no matter the environment.

LeConte In The News

LeConte Welcomes Doug Whitten

We’re excited to welcome Doug Whitten to LeConte Wealth as a Client Adviser. Doug brings a unique perspective to financial planning, shaped by his journey from Alberta, Canada to East Tennessee. A Maryville College graduate and former collegiate golfer, Doug has been active in the financial services industry since 2019, with experience in trading, planning, and client service.

Now a proud American and Knoxville resident, Doug is passionate about helping individuals and families align their finances with their purpose. He joins our team with a strong commitment to trust, clarity, and collaboration. We’re thrilled to have him on board as we continue to deliver deeply personal, Purpose-Built Planning for our clients.

LeConte Wealth is Evolving

We're excited to share that LeConte Wealth Management is now LeConte Wealth. It's a subtle shift, but one that better reflects who we are and the comprehensive service we provide.

Along with the name update, we've refreshed our website to make it easier to navigate, more aligned with our Purpose-Built Planning process, and focused on helping you make smarter financial decisions.

Explore the new site now >>

Contact us

865-379-8200

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