Good Afternoon Valued Clients, Friends and Family,

I hope you all had a wonderful weekend and enjoyed the beautiful weather that we are having. This week started off with the 78th anniversary of D-Day on Monday, the primary elections in California took place on Tuesday, Matthew McConaughey spoke at the White House on the issue of gun control with the House passing legislation on gun control and next week we will celebrate Flag Day. Through all the noise that we face daily, I think it is important to stand united as one nation and remember what our country represents.

Monday, June 6th marked the 78th anniversary of the D-Day invasion, codenamed Operation Neptune, on the beaches of Normandy, France during World War II. This historic day in 1944 was when nearly 160,000 Allied troops ascended upon the beaches of Nazi-occupied France, beginning a ruthless battle that changed the turn of the war. During the Battle of Normandy, more than 220,000 Allied men lost their lives to begin the liberation of Europe. This year, many French and international visitors, including World War II veterans in their 90s, arrived in Normandy to pay tribute to the troops who stormed the beaches that day.

Actor, Matthew McConaughey, a native of Uvalde, Texas, spoke at a press briefing at the White House on Tuesday, addressing the issue of gun control. He and his wife Camilla visited his hometown after the mass shooting that took place last week at Robb Elementary School. They met with many of the victims’ families on their visit. He spoke from a bipartisan perspective asking for meaningful gun legislation reform, calling for universal background checks, raising the minimum age for purchasing semi-automatic weapons, including AR-15s, to 21, a waiting period for purchasing such weapons and the implementation of red flag laws. He asked that we come together as American people and stand united, not divided. Yesterday, the U.S. House of Representatives voted 223-204 to pass the “Protecting Our Kids Act”, a wide-ranging package of gun control legislation. The vote came after a House committee heard heart wrenching testimonies from victims and families who were affected by the recent shootings pleading for stricter gun policies. The measure is now headed to the Senate for voting, where it is unlikely to pass.

A “gradual but sustained path of further increases in interest rates” is the latest announcement coming from… not the U.S. Federal Reserve. For the first time in over a decade, the European Central Bank (ECB) is poised to raise interest rates as we have seen in Australia, Canada, England, and the United States. The ECB intends to raise its main rate by 0.25% in July, with the expectation of equal or greater hikes to come to combat inflation. For Europeans, the ECB walks with a heavier step than the Federal Reserve since their monetary policy must be delicate so as to not upset the balance of the bloc’s weakest economies. Back at home, Meta Platforms Inc., previously known as Facebook, changed its stock symbol from ‘FB’ to ‘META’ to signify the start of a new era for the company. Meanwhile, Amazon recently moved forward with a 20:1 stock split, adjusting the price from $2,447/share to $122/share, allowing Amazon employees greater flexibility in managing their equity and making their stock more publicly accessible. For the week, the S&P 500, Dow Jones Industrial Average, and Nasdaq are all down 3.78%, 2.88%, and 4.56%, respectively, as of today’s close.

Please join us for our next webinar on “The 7 Simple Truths Every Plan Sponsor Should Know” with guest speaker, Jon Clark, AIF®, who is the Senior Vice President from PCS Retirement (PCS) on Wednesday, June 29th at 1pm. This webinar will be highly informative for small to medium-sized business owners who want to learn how to start or review their current defined contribution plans, such as a 401(k) or 403(b). Click here to register and learn more. The playback video for our last webinar on “Getting Good Leverage: Credit, Loans, & Borrowing” is available to view here. Check out the recordings of our previous webinars to watch on our website here. Please share these links with your friends and family if you think they are topics they will find interesting.

As we are midway through the year, please feel free to call our office if you would like to discuss any questions or concerns you may have regarding your portfolio or schedule a review. Please call our office at (888) 253-0288 or email Kellie Chou at Kellie@apriem.com to schedule a meeting with your Wealth Manager.

Next Tuesday, June 14th, we celebrate Flag Day, also known as National Flag Day, to honor the national flag of the United States. This holiday commemorates the date in 1777 when the Second Continental Congress created the Flag Resolution approved the design for the first American flag. Congress had declared that “the flag of the United States be 13 stripes, alternate red and white,” and that “the union be 13 stars, white in a blue field, representing a new constellation.” All around the country, communities will celebrate Flag Day’s 245th birthday with parades and ceremonies, along with displaying the “Stars and Stripes” at homes and businesses.

Have a wonderful weekend, wherever you may be.

Rhonda Ducote, AIF®
President

Disclosures:

Advisory services offered by Apriem Advisors (“Apriem”), a registered investment adviser with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940. Any reference to or use of the terms “registered investment adviser” or “registered,” does not imply that Apriem Advisors or any person associated with Apriem Advisors has achieved a certain level of skill or training. Apriem Advisors may only transact business or render personalized investment advice in those states and international jurisdictions where we are registered, notice filed, or where we qualify for an exemption or exclusion from registration requirements. For complete information about our firm, please refer to our Form ADV Part 2A, 2B and CRS at any time.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. Past performance is no guarantee of future results. The reader should not assume that investments in the securities identified were or will be profitable.”

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