2022 YEAR IN REVIEW

Jan 3, 2023

THE PURSUIT OF LONG-TERM OUTCOMES

As we close out 2022 and enter our 90th year in business, we believe it is more essential than ever to reinforce the importance of tailored planning, active investing, and long-term thinking.

2022 was a challenging year for markets as inflation, tightening financial conditions, geopolitical forces, and macroeconomic dynamics created a volatile environment. These challenges were intensified by the backdrop of years of excessive risk taking in things like cryptocurrencies, SPACs, and unprofitable companies.

Downturns are not new. NPF has successfully navigated the ebbs and flows of markets since the Great Depression, including many bear markets and recessions. While 2022 may have offered a unique set of challenges, we believe three tried and true principles allowed us to successfully guide clients through the turmoil: our long-term perspective, our disciplined approach, and our commitment to client success.

Our long-term perspective comes from the wisdom of 89 years in the business – and allows us to help clients put the current downturn into perspective and play the long game. Our disciplined and research-based approach might seem boring to some, but our value often shines brightest in the most difficult conditions. Finally, our commitment as fiduciaries kept us fully focused on protecting the best interests of clients through tailored planning, active investing, and complete coordination across financial life.

While challenges might persist in the short term, we are optimistic about the long-term health of markets and our ability to help clients protect their wealth and achieve long-term positive outcomes.

We are excited to enter 2023 – our 90th year – from a position of strength. We will continue to invest in our people and technology, expand our capabilities, and amplify the experience we provide. In addition, we are in the process designing new office space for 2023 to reinforce our commitment to personal relationships, client collaboration, and direct access to our team.

As a people-driven business, we close the year reflecting on how grateful we are for our founders, our team, and our clients. Our founders created a philosophy and set of values that continue to guide everything we do. Our talented team brings an incredible combination of experience, credentials, and passion to help each client manage the complex and evolving challenges of financial life. Above all, our clients represent our sole reason for being – we thank you for your trust and ongoing loyalty to NPF.

As always, if you have any feedback for how we can make the NPF experience even better, please let us know. We hope you are enjoying the holiday season and look forward to a wonderful new year together.

Sincerely,

The Partners of NPF

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