One example is multi-family properties, given their potential to benefit from an inflationary environment and rising rents. We’re focused on hard assets, specifically real estate. And then there’s health-care stocks, which have boomed throughout the pandemic and have strong potential for a continued cycle of innovation. Another is energy, which offers an attractive yield while maintaining capital discipline. One is financial companies, in light of potential rate hikes starting this year. over international equities and value over growth sectors. Our view is that we are in a multi-year expansion, and that the economy and equities should perform well this year. Public equities have historically been the most consistent asset class in outperforming inflation, although in instances of significant inflation - like the 1970s and 1980s - equities have the potential to produce negative real returns. While fixed-income investments are yielding lower real returns, we’re guiding clients to hold some cash and fixed-income reserves to be opportunistic.

In an aggressive asset allocation strategy, we see clients’ combined public and private equity exposure around 75%, and another 7% in other alternative assets. We’re leaning into equities and alternatives to combat potential wealth erosion from inflation. Meena Flynn If you have a client with $1 million to invest right now, what would you advise?

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