When Doaa Mohamed first started dreaming of owning her own franchise business in 2000, she was a 20-year-old retail manager with limited financial resources. “A friend and co-worker said ‘Doaa, why don’t we start a franchise?’” said Doaa. “Of course, at that stage of our lives, we didn’t have the money but there was a relatively…
According to a WSFS Bank Study of Millennials and Gen Z consumers, 65% of respondents describe their overall financial situation as either “good” or “excellent,” and nearly six in 10 (58%) are optimistic that they’ll achieve their financial goals one day. While respondents remain optimistic when it comes to their finances, 43% said they frequently…
One of the keys to building a successful budget is to continually reevaluate your income and variable expenses, accounting for any needed adjustments. Even the strongest budget could have been flipped on its head at the onset of COVID-19 as many found their finances in a new state of fluctuation. Proper money management strategies can go a…
“Our lives begin to end the day we become silent about things that matter.” – Dr. Martin Luther King, Jr. Since its founding in 2016, MLK VOICE 4 YOUTH has provided Delaware students a safe platform to speak up on issues important to them and creatively share how Dr. King’s legacy guides their response to today’s challenges. The annual spoken…
When Tanya Hill-Holliday speaks, it is impossible to not listen and feel inspired. Hill-Holliday, the founder, president and CEO of TanWay Enterprises, forged her path of leadership as a state track and field champion in high school, then as a part time McDonald’s employee while earning her degree in business administration and management at Morgan State University….
In a career that has spanned more than 25 years in banking and financial services, Ron Dutton has held a variety of roles from business banking and government and institution banking to his current position as Senior Vice President, Director, Community Reinvestment at WSFS Bank. Helping the Community In his current role at WSFS, Dutton is…
Since its founding in 1976, the African American Museum in Philadelphia (AAMP) has interpreted and presented the achievements and aspirations of African Americans from pre-colonial times to the current day. “AAMP was the first museum established by a municipality to explore African American culture and heritage,” said James Claiborne, Public Programming Manager at AAMP. “It’s an…
When entrepreneurs reach a point in their businesses where they need additional cash flow, they often look to credit. While credit is a good resource for a new small business venture, it’s important to use it wisely, much like personal credit. In fact, an owner’s personal credit history can affect their ability to get credit for…
One area of the equity markets that often gets neglected is the mid cap space. Investors and the media primarily focus on large capitalized companies. At certain times, small cap companies will be mentioned as pockets of opportunities to increase portfolio returns. But mid cap companies barely get any attention, as if they don’t even…
Over the past year, the idea of what the home looks like and its daily purpose has changed for many people. Sure, we wanted to have our creature comforts to come home to after a long day at work. But the COVID-19 pandemic brought new challenges to how we use the space available to us and…
The new normal. It’s a phrase we’ve been hearing for nearly a year, generally referring to how we must adapt and adjust to changing safety protocols, shopping habits, work and school environments and more as we navigate our daily lives in a pandemic. The new normal has also applied to small business leaders as they’ve adapted…
In a year of constant change, one thing remains the same for your small business: it’s time to assess your business’s successes and opportunities heading into 2021. This year, it’s more important than ever to look at your business a bit differently. A recent WSFS Bank Business Survey revealed that 88% of businesses made changes to…
For some people, buying a car can be a nerve-wracking experience. The auto industry has made great strides in creating no-hassle, enjoyable car buying experiences, but there’s still a lot to consider such as down payments, financing, and what price point realistically fits into your budget. However, with a little planning and carefully assessing your finances…
After running a factory in corporate America for 25 years, Nate West wasn’t short on options when considering the next phase of his career. “I was fortunate enough to have an engineering background that, coupled with my management experience, afforded me some leeway in what path I wanted to take,” said Nate. Nate knew he wanted to…
Founded in South Jersey in 2009, TeenSHARP works to increase underrepresented students’ access to college and develop student-leaders who are successful, high-achieving and reaching potential (S.H.A.R.P.). Since then, the organization has worked tirelessly to prepare hundreds of talented African American and Latino students to attend and thrive at top colleges and dramatically expand the diverse talent…
In many households, 2020 has seen changes in our financial lives. The COVID-19 pandemic changed what we spend on and what we save for, such as more groceries due to working and schooling from home or less on transportation and parking. For others, the pandemic has had an immediate, and in some cases lasting, impact on income….
Founded in 2015, Wilmington-based Lead for Delaware’s goal was to train school leaders who could create meaningful change in high-need schools throughout the state. From its early roots as a Teach for America program, Lead for Delaware grew rapidly and in 2019 became a self-sustaining organization, 4th-Dimension Leaders. While the organization’s name changed, its goal remained…
Do you like to “dabble” in the stock market? Get a “hot tip” at a cocktail party? Read about a new technology or promising new drug and decide to take a “flyer” on its stock? It may be fun to do this with extra cash you may have, but do you have a long-term investing plan?…
The New Year is a great time for a fresh start, and there is no better way to get that start than by setting yourself up for financial success in 2021 and beyond. After months of navigating finances in a pandemic, many have found themselves placing a new emphasis on saving and having a nest egg…
These days, budgeting for the holidays is not only about saving for shopping – it’s also about saving while you shop. With the plethora of options available online, in stores and through how you pay, it’s easy to stack savings while stuffing your family’s stockings. The tried and true tips for holiday budgeting still work, such…
When work for the Sussex Montessori School began in conjunction with Montessori Works in 2013, the goal was to establish an innovative educational opportunity through an affordable Montessori school in Sussex County, Del. That goal came to fruition in Sept. 2020, when the school officially opened in Seaford, Del., and welcomed 260 students from kindergarten to…
Social media is now more pertinent than ever for small businesses. It is the word-of-mouth in the digital age. This holiday season, social media is a great tool to ask your customers to support you by shopping small. Understanding how to engage with potential customers is the first step. General Rules for Increasing Engagement Be purposeful…
During these challenging times, as business owners are looking for new ways to generate new income and increase foot traffic to their storefronts, they may want to consider adding a customer convenience that also brings in revenue – a bank-branded ATM. Consumers are still using cash. According to the 2020 Findings from the Diary of Consumer…
Looking to 2021, equity and bond market dynamics are fascinating to say the least. Equity markets might have one of the best backdrops in years. However, a lot hinges on the two Georgia Senate runoff elections to occur on January 5th, 2021. If the Republicans hold the majority in the Senate after the runoffs, no…
With age comes wisdom, but in investing, it is wise to invest before you age. In a recent WSFS Wealth survey of consumers in the greater Philadelphia region and Delaware, two-thirds of young people (67%) are concerned about outliving their money. To overcome this fear, start investing at a young age and invest on a consistent…
One could argue that if there ever is a time to stress diversification in an investment portfolio, it would be 2020 post-election. Markets are forward looking, constantly trying to price today what they feel the future will bring. During an election year, that means pricing in policies and agenda items of the eventual winners of the…
When the COVID-19 pandemic caused parts of America to lock down last spring, many businesses were directly and swiftly impacted. Some businesses needed to pivot on short notice to safely keep their doors open and provide customers with the products and services they expected and needed. Others began to plan for when they could open again…
The resilience of the stock market during the pandemic is one of the more remarkable stories in this most unprecedented of years. Despite COVID-19, a recession, social unrest and natural disasters, the Dow Jones Industrial average is up significantly since it cratered in March. The Standard & Poor’s 500 index has performed even better reaching an…
Annual financial check-ups are as important as annual physicals at your doctor’s office. Life gets busy and it is easy to put these things off. It is important to your financial well-being to make sure you review your investments and goals at least annually so that there are no surprises along the way. Here are…
You just finished giving your first drum lesson to a friend and are feeling confident enough to continue giving lessons more often. Before your next step, ask yourself: Do I want to make steady income by doing this? How many customers do I need to pay bills or supplement personal expenses? How will I find customers? How…
Have you created a transition plan for your business? Planning for the next generation or for a potential sale can lead to a better outcome. It is important to understand the steps involved in creating a comprehensive transition plan and why starting sooner rather than later can lead to the best results for your future…
The season of giving is upon us. While the holidays typically mean quality time and exchanging gifts with family, I encourage those who can to look for ways to give back to their communities and nonprofit organizations in need of support. Giving to nonprofits throughout the year, if we’re able to, is important but the holidays bring…
Months into the pandemic, we continue to see many aspects of our lives transform at an accelerated pace. Banking is no stranger to the digital frontier. By 2006, 80 percent of U.S. banks offered online banking, in turn enabling digital banking to evolve and secure itself as a simple, safe and convenient avenue for customers to…
For many small businesses, surviving today’s economic uncertainty means that being conservative with working capital is a necessity. Some can get by with hiring freezes or finding ways to cut down on operational costs. For those who need to purchase or upgrade expensive equipment to remain competitive, however, cutting down on costs may not be enough….
Like many during the COVID-19 Pandemic of 2020, I found myself out of work. Waking up to a world that literally shut down overnight, it was concerning not knowing where I would find my next paycheck. Should I start a bookkeeping firm to bridge the gap between jobs? Should I find a trade? What can…
Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $1.9 billion to these…
Every four years, the investing world holds their proverbial breaths to see who the next president will be. Whether it will be an incumbent President or a new candidate who wins the election, investors discuss and debate what the next four years of government policy will look like and how it will affect the markets….
A recent WSFS Bank survey found that homebuyers feel high levels of anxiety when purchasing a home, even more than when getting married by a wide margin (64% vs. 36%). As we have all seen in recent months, the inventory shortage is contributing to multiple offers and even more anxiety for buyers. Due to these factors,…
When I reflect on my career at WSFS Bank, which started more than 30 years ago, I often think about the connection between the Bank’s growth and my own. The two are so intertwined, it is difficult for me to imagine anything transpiring differently on this journey that WSFS and I have been on together. My…
Most Americans believe in managing their own money. While that is ok for some, for others, they may find themselves lost and unprepared for retirement. What often bridges the gap between financial freedom in retirement and those unprepared for life’s financial challenges is an Advisor. Now, let me explain the reasons behind selecting a good financial…
In today’s economic and cultural backdrop, more women need to seek financial advice and prepare for a secure future. It is important for women to take ownership of their financial lives. Financial independence, maintaining one’s lifestyle and the ability to meet long-term health care needs are top priorities for women in retirement. But how do women…
You’ve seen it – someone sends you an email posing as your bank, asking you to verify your account information. Or maybe your business receives an electronic invoice from a vendor with a minor, yet off-putting, detail – like an unfamiliar email domain name. One small lapse of judgment on your part, and you’re compromised. Scams…
You’ve learned what brush strokes to make, what notes to hit or what words to write. But here’s what they probably didn’t tell you in school: Your unique talent is also your business. And that comes with the need to have a business mindset that gives you the financial security to pursue your artistic vision….
At some point in everyone’s life, there is usually a reason that prompts you to start investing. Some of the reasons may include establishing an emergency fund, saving for a home, saving for a college education and building retirement funds. People assume that a lack of money is the reason people don’t start investing, but many…
Many people are risk averse when it comes to investing. It’s natural to be wary of the volatility of the stock market and to want to protect your savings with a safer investment option. In the first quarter of 2020, the stock market “fluctuated” to a loss of almost -20%. Even though the stock market…
With so much talk around home buying and refinance rates driving the housing market this summer and fall, many want to capitalize on the low rates. Homeowners are choosing to make improvements to their existing houses to accommodate remote working and schooling, or other comforts to gain more living space. There are great options for…
Since they first started dating, Kaitlin and Chris McCall had talked about owning their own business, and with a healthy amount of entrepreneurial spirit along with retail management, marketing and finance experience under their belts, they knew they had a foundation for success. After deciding to combine their passion for hosting family and friends and their…
A dollar today does not represent a dollar tomorrow. Inflation is the cause of that fact. Traditional measures of inflation have depicted a lower rate of inflation over the past 20 years. However, measures used by the government agencies are missing other forms of price increases that cannot be ignored and should be considered. These…
1 https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.htm
2 https://fred.stlouisfed.org/series/MSPUS
This communication is provided by West Capital Management (“WCM” or the “Firm”) for informational purposes only. Investing involves the risk of loss and investors should be prepared to bear potential losses. Past performance may not be indicative of future results and may have been impacted by events and economic conditions that will not prevail in the future. No portion of this commentary is to be construed as a solicitation to buy or sell a security or the provision of personalized investment, tax or legal advice. Certain information contained in this report is derived from sources that WCM believes to be reliable; however, the Firm does not guarantee the accuracy or timeliness of such information and assumes no liability for any resulting damages. Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investment products, which otherwise have the effect of reducing the performance of an actual investment portfolio.
WCM is the business name of WSFS Capital Management, LLC. It is an SEC registered investment adviser that maintains a principal place of business in the Commonwealth of Pennsylvania. The Firm may only transact business in those states in which it is notice filed or qualifies for a corresponding exemption from registration requirements. For information about WCM’s registration status and business operations, please consult the Firm’s Form ADV disclosure documents, the most recent versions of which are available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. WSFS Capital Management, LLC, is a wholly owned subsidiary of WSFS Financial Corporation.
