Bill Handel

Early in 2017 we compiled our predictions for the upcoming year.  These were a mix of economic and industry predictions.  How accurate were these predictions? 
As it turns out, we were mostly on the mark in our predictions, at least in terms of direction if not always in magnitude.  Here is a review of our 2017 predictions and an assessment of the accuracy of each.

Raddon held its first-ever national research conference in Chicago November 6-8.  The three day event was attended by over 250 C-level and marketing professionals from banks and credit unions across the United States, and the content featured Raddon’s own proprietary national consumer and small business research as well as several very informative keynote speakers and panelists.

While the election in November and resulting change in administration has been polarizing politically, it has simultaneously triggered a degree of enthusiasm among investors, consumers and small businesses.  This optimism is not seemingly driven by improvement in current economic activity, but instead seems to reflect a sense of greater optimism for the longer term. 

Here at Raddon, we like to build segmentation schemes.  Splitting large populations into smaller groups helps to improve marketing by allowing institutions to speak to audiences in a more targeted way.

For example, from our previous Strategic Planning Study Group research, we’ve known for a long time that high earners – our Upscale Segment – bank differently than others.  They tend to invest more, are more likely to use major banks, and they are less likely to use debit cards.

What a difference a couple of months can make.  In the aftermath of the election, we have seen the stock market accelerate, consumer confidence soar, and small businesses assume a much greater level of optimism.  We have seen the Fed announce a significant change in its interest rate policy.  Due largely to December sales volume, 2016 was the single biggest year in new auto sales history.  In general, we are experiencing a sense of optimism we haven’t seen in nearly a decade.

Now that 2015 is in the rearview window, it’s time to review how well Raddon fared in our annual economic predictions. How accurate were the predictions we made at the start of the year?

2014 proved to be an interesting year, both from an economics standpoint and from the perspective of the financial services industry. What’s on the horizon for 2015? This article will preview The Raddon Report’s predictions for the coming year.

This post will examine an area that we view as a tremendous opportunity for financial institutions – wealth management. There are three reasons why wealth management services should be moving towards the top of management priorities.

Many of us gladly said farewell to 2013 and are looking forward with more optimism to 2014.  We at the Raddon Financial Group understand this sentiment.  2013 was a year of continuing recovery for the economy and the industry, albeit a very slow recovery.  The economy improved – slowly – and the industry improved – also slowly.