Banks Pass 1st Round of Stress Test

big bank

The Fed Releases Results for First Round of Stress Test

As a result of the financial crisis, regulators placed greater restrictions on banks.  Each year the Fed initiates a “Stress Test” to determine the financial health of United States banks.  The Banks are assessed on how they handle a severe economic downturn.  This year the Fed modeled a grim economic situation – a 10% unemployment rate, a steep decline in housing prices, and a severe recession in the Eurozone.

On Thursday, June 22, 2017, the Fed announced all 34 banks measured passed the economic stress test.  Each year, the Fed changes the test in order to prevent banks from being able to trick the system.  If a bank does not pass the test, it is disallowed to pay out dividends until approved by regulators – a hefty punishment for stockholders.

In summary, the results showed that capital plans for banks are sufficient to continue lending, even during a severe economic downturn.  Stay tuned for more news.

Midyear 2017 Outlook

MidyearLPL researchers have released their Midyear 2017 Outlook.  Highlights include an overview of where four market drivers stand:

  1. Monetary policy
  2. Business fundamentals
  3. Economic growth
  4. Fiscal policy

The report also includes the themes that the LPL research team will be watching in the second half of 2017.

Take a look at the report and reach out to the Granite Wealth team if you’d like to discuss.

LPL Midyear Outlook 2017

Happy Fiduciary Day

GWM is Prepared for the New Rule!


You may or may not have heard in the news of the new Department of Labor Rule taking place today June 9th, 2017.  In short, the DOL created a rule announcing tha all advisors who give investment advice must be Fiduciaries.  A fiduciary, by definition, is someone who is “one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor, and loyalty in fulfilling the obligation.”

This means that an advisor giving financial advice must act in the best interest of his or her clients.  Here at Granite Wealth Management, we are excited about this new rule because it now solidifies our core principals.  As an independent financial advisor, we take pride in being able to offer objective advice that is in the best interests of our clients. The most important step in this process is to have a deep understanding of our client’s goals, experiences, and risk tolerance.   Our clients can feel confident knowing their advisor team has been taking a proactive approach to ensure we act in our clients best interest.  Our investment due diligence, our internal processes, and our objective advice are all designed to support our clients best interest.

The GWM is excited and prepared for this new rule.  If you would like to hear more, please contact the office and we will be glad to share our process with you.

Contact: Kyle Crawford at (209) 846-0744, or email


Happy Birthday to Our Founder

  Happy Birthday, Kent!


Kent – currently

We want to wish our Founder, Kent Crawford a very Happy Birthday.  Although we won’t call him out on his age publicly,  this guy has been around for awhile.  With over 30 years experience in the industry, Kent has seen quite a few bull and bear markets.

Kent was born and raised in Modesto.  He is the son of a local school principal and music teacher who instilled the value of hard work and discipline in their son.  At a young age, Kent developed his skills as an extremely hard worker.  He worked in his youth as one of the top paperboys in the area.  He also rode his bike for miles to pick berries in the countryside and became a journeyman clerk at local grocery store Raley’s.

Young Kent

Kent circa 1987

After attending Modesto Junior College,  Kent went to Chico State where he met his future wife Lisa in the business fraternity.  After college, Kent started his Financial Planning practice in 1987 with a firm called IDS.  Many of his first clients are still with Kent today.  After IDS, he opened an Edward Jones branch where he worked for more than 20 years!   He then opened his own practice, Granite Wealth Management, in 2011.

Over the years Kent has been heavily involved in the community.  He was the youngest President of Modesto Gateway Rotary where he was involved in projects such as the Virginia Corridor.  Kent has served on the County Board of Retirement and helped develop and grow the Beyer High Booster club.

Today, Kent uses his 30 years experience to help guide clients through their financial life. His practice is centered around integrity, honesty, and service which can be seen with the hundreds of people Kent has helped.

From all of us here at Granite Wealth Management, we wish you a Happy Birthday!