The DOL Rule – What is it? The Department of Labor (DOL) Fiduciary Rule expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA) and automatically elevates all financial professionals who work with retirement plans or provide retirement planning advice to the level of a fiduciary. The law was initially created under the Obama administration. On February 3, 2017, President Trump issued a memorandum that delayed the rule’s implementation by 180 days and the rule was implemented on June 9, 2017.

The DOL Rule – What does it do? Supporters have applauded the new rule, saying it should increase and streamline transparency for investors, make conversations easier for advisors entertaining changes, and most of all, prevent abuses on the part of financial advisors, such as excessive commissions and investment churning for reasons of compensation. The

DOL Rule – What is a fiduciary? The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients’ interests above their own. Northwest Quadrant Wealth Management already serves as a fiduciary for our advisory client base and have always been an advocate of transparency when it comes to the services we provide and the fee we charge. If you have questions about the DOL rule and what it means to you let us know! You can call us toll free at 800-743-0988 or send us an email at

It’s baseball season, and Tyler and his All-Star baseball team are in full swing. He and his family are having fun soaking up another classic Central Oregon summer with temperatures in the 90s. Tyler has swapped his goggle tan line for a sunglasses one, and the past winter’s record snow fall is finally becoming a distant memory.

Audra enjoyed her short vacation with her husband and sister late spring. Camping and fishing in Hells Canyon, emerald green mountains, millions of colorful flowers, a bear and a bunch of mountain goats were a big bonus. Whitegranite peaks, sparkling noisy creeks, and wildflower-covered meadows in the Eagle Cap Wilderness and a beautiful Wallowa Lake were breath taking views and was the mix of fun they had every day.

2017 has been a challenging year thus far for Marvin. Growing up on a farm in Central Oregon can help one develop a good work ethic…It can also help one develop skin cancer. He had two Mohs surgeries on his face within an 8 week time period. It wasn’t fun, but it had to be done. So far all of the cancer is gone. It’s kind of like the volatility of the stock market…it’s not fun, but it has to happen to make things better in the future. And yes, he is looking forward to more sunshine…with sunscreen.

Shelly has been enjoying the change in weather and is so happy to see the snow finally melted all away. She has been busy in her garden planting vegetables and in the yard planting new flowers. She has a passion for the outdoors, and has already been camping twice this season and she’s looking forward to many outdoor adventures as she and her husband like to explore new places to hike and camp each time they venture out.

Sarah and Alec had a baby in May! Their son Archer Langdon Morris was born two weeks early on May 1st weighing 8lbs 12oz and was 20 ¾ inches long. Sarah arrived at the Redmond hospital at 9:43 a.m. and Archer was born at 9:50 a.m.! She drove herself. Yes her car is a manual. No we’re not kidding. After taking some time off to hang out at home in her pj’s with the baby Sarah will be back in the office full-time in July. Mom and Dad and Baby are all doing great.

Josh has been enjoying the start of summer: traveling, hiking, and spending time with friends. He’s looking forward to the eclipse (the day before his birthday), and continuing to travel around the state visiting clients.

Cheri welcomed her first Granddaughter on May 23rd. Maia was born to Cheri’s son Josh and his fiancé Melanie. Weighing 11.5 pounds at birth, she has chubby cheeks, lots of dark hair, and big, dark eyes. Cheri admits the best part is when Maia’s fussy, she gets to hand her back to her parents! She likes that they live in town and she can see Maia frequently. Besides her Granddaughter, Cheri is keeping busy tending to all of the flowers she bought this spring. She admits she went overboard and now realizes if she didn’t have so many, she would have more free time. Early on she was worried about the frost and would cover them nightly. Now she’s worried about the heat and has to water them at least daily. Maybe next spring she’ll learn some restraint.

Alisa & her husband have been working to get their yard ready for the summer, hoping to find time for some barbeque’s and corn hole. In June, she made a road trip to Olympia, WA to surprise a friend who she hadn’t seen in several years. (And yes, she was surprised!) June and July are filled with her son’s baseball games, just the way she likes it.

Troy is having a bifurcated summer. Half the summer he only has two kids at home as his oldest Alycen is on an exchange trip to Italy. The second half he will have four as Alycen will bring back her Italian sponsor for a 5-week exchange stay.

A long-overdue and highly anticipated shift is underway that may change the character of the rest of this economic cycle. Specifically, the Federal Reserve (Fed) has finally been able to follow through on its projected rate hike path, including the second hike for 2017 announced at the conclusion of the Federal Open Market Committee’s June 13–14 meeting. This move highlights two important signals — first, the Fed increasingly trusts that the economy has largely met its dual mandate of 2% inflation and full employment, but second and of perhaps even greater importance, it appears there may finally be a new driver — the long-awaited arrival of fiscal policy — that may provide the economic backstop that monetary policy has offered throughout this recent expansion.

Here are several key themes focused on how the change in market leadership may shift through year-end and beyond:

Monetary policy: Slow path to normalization. Maintaining economic growth without extraordinary central bank support will be key.

Business fundamentals: Now taking control. A focus on well-run businesses with the potential for earnings gains.

Economic growth: Confidence not enough, yet. Business and consumer confidence has improved, but greater policy clarity may be needed to spur growth.

Fiscal policy: Pro-growth potential, but when? Fiscal policy support remains likely, but the timetable may be pushed back to 2018.

What are the implications of fiscal policy as a new market driver? Much like a portfolio can benefit from diversification, the economy and markets can benefit from different drivers working at different times. If we have shifted to new market dynamics, including a greater role for corporate profits, understanding the evolving opportunities will be important for diversified investors. As monetary policy powers down, business fundamentals power up, and fiscal policy helps get the U.S. economy off of standby mode. A shift in market control will help us identify opportunities that may arise, navigate the challenges that will inevitably come, and help you stick to your long-term investing plan.