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5 QUESTIONS WITH JOSEPH MALLEE, CEO, Peerless Business Advisors, Center Valley

Mallee

1 How is the local economy?

1 How is the local economy?

I typically make an assessment of the economy based on the real conversations I am having with our local business-owner clients. Using that approach, I would say that the outlook has been generally positive.

I think most executives out there are still taking a cautiously optimistic approach when it comes to hiring and expansion decisions, and it seems that most people are still unclear as to what the macroeconomic impact will be of the recent change in power in the White House.

I think if you spend any time out in the community, there is very good reason to be bullish on the local economy of the Lehigh Valley.

2How confident are investors?

I think the confidence of investors runs parallel to the prior question; you would think a growing economy would support a reinvestment into local and foreign companies which would support an increasing value of stock prices.

I also think, like the prior question, investors are also in a cautiously optimistic mindset as well from a short-term market perspective. At the time of this writing, the Dow is over 20,000; the question begs as to whether that growth will be sustainable.

3What changes do you see in wealth management in the next year or two?

I think wealth management will continue to evolve as we continue to see technological changes and the continued move to a fiduciary standard. I have always believed that you need to differentiate yourself in the marketplace by asking great questions and building solutions based on the needs and concerns of your client.

I believe you will continue to see technology compete for impersonal low cost transactions, but I also believe that human advisers will remain crucial in a capacity where major financial decisions need to be made.

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