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Peter Babilla brings 40 years of experience in investment management and fiduciary* financial consulting to Vertex Planning Partners, LLC.
Pete graduated from Indiana University in Bloomington, Indiana with a Bachelor’s of Science in Finance.
He began his career in 1983 with a focus on institutional fixed-income portfolio management, primarily working with community banks. After a decade serving institutional clients, Pete shifted his focus to working with individuals, families and business owners, providing guidance and education in all areas of Wealth Management. Among his areas of focus are accumulation and retirement planning, investment management, risk management, and estate and wealth transfer.
Pete’s planning philosophy allows him to create a personalized program for clients, based on their own unique goals and circumstances. The extensive investment and planning platform offered by Vertex enables him to create a highly customized program, tailored to each individual client.
Pete and his wife Suzanne have two children, and have resided in Wheaton, Illinois for the past 30 years. He enjoys golf, reading, and traveling with his family. Pete gives back as a past Board Member of the Epilepsy Foundation of Greater Chicago, where his focus is on improving the lives of those living with epilepsy.
Pete works as fiduciary for his clients and holds the CERTIFIED FIANANCIAL PLANNER™ (CFP®) designation and the Chartered Retirement Plan Specialist (CRPS®) designation.
Justin D’Agostino joined Vertex Partners in 2019 and serves a select group of business owners and affluent families. He specializes in investments, financial planning, and succession planning. His interest and knowledge in providing comprehensive financial planning and wealth management services to clients was sparked when he worked at a boutique tax and wealth management firm in Michigan. He has nine years of experience in the financial services industry, and his mission is to provide every client with targeted, comprehensive financial advice and to help them implement customized strategies designed to move them closer to accomplishing their unique goals.
Justin attended Hillsdale College where he earned his BA in Accounting and Financial Management and was a member and captain of the football team. Justin is a CERTIFIED FINANCIAL PLANNER™ Professional, holds the Chartered Financial Consultant®, Chartered Retirement Planning Counselor™, and Accredited Investment Fiduciary™ designations.
Justin and his wife, Alexandra, reside in Chicago, Illinois. He is an avid sports fan and enjoys golfing, playing soccer and spending summer weekends with his family.
Scott Sandee brings over 20 years of experience as Managing Partner. He is responsible for leading the firm’s efforts in assisting middle-market business owners and seven and eight-figure families to plan and realize financial goals based on their unique aspirations and situations.
With a privately held family business background, Scott has helped owners prepare for and execute a successful transition. In addition, he works with business owners and their advisors to develop financial strategies to maximize sales proceeds and minimize future taxes.
Before joining Vertex, Scott served in financial planning and investment strategy roles at Oxford Financial Group, Capital Group, and The Northern Trust Company, working with Chicago’s HNW/UHNW families clients.
Scott holds the Certified Financial Planner®, Certified Private Wealth Advisor®, Certified Investment Management Analyst®, and Certified Exit Planning Advisor designations. Scott earned his B.S. in Computer Science from Northern Illinois University, and his family resides in Wilmette, IL.
Julie Hupp, CERTIFIED FINANCIAL PLANNER™ professional, has worked in the accounting and corporate finance field since 1987. She began her career as a CPA with Deloitte & Touche, specializing in the financial needs of small businesses. Then spent the next 13 years in corporate financial planning and business development at Baxter and TAP Pharmaceuticals. Recognizing her passion for personal financial planning, Julie started her business in 2006 where she focuses on comprehensive financial planning strategies and implementation.
Julie graduated from University of Illinois with a BS in Accountancy. She received her Master’s in Management with a concentration in Finance from Northwestern University’s Kellogg School of Management in 1994.
Outside the office, Julie is the co-founder of the 12 Oaks Foundation, which has merged with Cal’s Angels, and is a former Board member. Julie enjoys cooking, reading, running, triathlons and doing almost anything outdoors. A great weekend is spending time with her husband and two adult kids boating at their lake house in Wisconsin.
Steven P. Franzen, CPA, PFS, CGMA is a public accountant and consultant with more than 23 years of experience helping individuals and businesses reduce their tax liability. He began his career under the guidance of Patrick M. De Sio, CPA, CGMA and in 1996 became Mr. De Sio’s partner in De Sio, Franzen & Associates, Ltd. Steve’s expertise include entity design, complex tax strategies and multigenerational wealth transfer. As Managing Partner, Steve conducts his practice under the philosophy that the client’s investment in their CPA should yield a return on that investment – most of the time that return is realized when working with clients on planning for their future. In an effort to increase the planning capabilities of the firm, Steve formed Vertex Accounting Partners, LLC to ensure their guiding philosophy will continue well into the future.
Steve is a certified public accountant and has earned the professional designations of Personal Financial Specialist and Chartered Global Management Accountant. He is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society. Steve earned a B.S. degree in accounting from Millikin University. He and his wife Kristie live in Sugar Grove, IL with their three children.
Gregory P. Benner, CPWA®, CFP®, ChFC®, CLU®, AIF®, RMA® has over twenty-two years of experience as a financial advisor. Greg’s practice is based on developing holistic financial plans that help his clients integrate sophisticated retirement, tax, risk management and estate planning strategies into an actionable plan, then stay the course as their behavioral coach.
Prior to founding Vertex Planning Partners, LLC, Greg spent four years as a founding partner of a Registered Investment Advisory firm affiliated with LPL Financial. He also spent seven years with JPMorgan Chase as a Senior Financial Advisor and was a Financial Representative with Northwestern Mutual Life.
Greg holds the Certified Private Wealth Advisor® designation and is a CERTIFIED FINANCIAL PLANNER™ Certificant. He also holds the Chartered Financial Consultant®, Chartered Life Underwriter®, Accredited Investment Fiduciary™, and Retirement Management AdvisorSM designations. He earned a B.S. in Finance from Miami University.
He and his wife Lindsey reside in Naperville, IL with their daughter and twin sons.
Michael D. Bellis, CFP®, CLU® began his career as a financial planning professional in 1994. His practice is centered on holistic financial planning, astute risk management strategies and empirical, research-driven portfolio construction. He began his career in partnership with his father under the name Bellis & Associates. Together, their practice and reputation for excellence dates back more than 40 years and includes multiple generations of the same families. After his father’s retirement several years ago, Mike continued to build a client-centric, consultative practice before forming Vertex.
Mike holds the CERTIFIED FINANCIAL PLANNER™ certification and is also a Chartered Life Underwriter. He has been an active member of both the Society of Financial Services Professionals and the National Association of Insurance and Financial Advisors. He earned a B.S. in Business & Marketing from Illinois State University. Mike is a lifelong resident of Naperville, Illinois. He and his wife Tanja have three children.
How Investors Can Keep Up With Inflation
When it comes to natural disasters, it’s important to be prepared for earthquakes and erosion alike. Even though one is immediate and dramatic while the other is slow and gradual, both require careful planning and protective measures. Economic forces are no different – the most challenging situations that households and businesses face aren’t always sudden and obvious, but can play out over many years. In the case of inflation, the risk of both sharp price increases and the gradual erosion of purchasing power are affecting financial markets today.
For investors who lived through the inflation of the 1970s and early 1980s, or the price surges that followed the pandemic, this pattern should feel familiar. On the one hand, inflation is more stubborn than many would like, and there are continuing concerns that tariffs will raise consumer prices. On the other hand, today’s inflation is occurring alongside healthy employment, consumer spending, and corporate profits. This creates a complex environment for both investors and policymakers as they balance growth and inflation.
Rather than waiting for inflation to become a problem, long-term investors should build portfolios that can handle many scenarios while staying focused on their financial goals. What do recent inflation reports tell us about the economy and investing?
Inflation erodes purchasing power over time
From this perspective, it may seem as if an inflation rate of zero – or even deflation where prices fall over time – may be helpful. However, inflation is not just about what we all pay for goods and services, it’s also about the health of the broader economy. Modern economic theory is built on the idea that a low but positive inflation rate, usually around 2%, creates the best balance for individuals and the overall economy.
A moderate inflation rate provides central banks with room to implement monetary policy, incentivizing spending and investment when appropriate. Additionally, some inflation helps prevent the economy from falling into deflationary spirals, a situation in which falling prices lead consumers to delay purchases since they expect lower prices in the future.
So, it’s important to distinguish between the micro- and macro-economic perspectives. While inflation of 2-3% may have historically supported a healthy growth environment, even this moderate level of inflation can be harmful to savers. These rates may seem manageable compared to the double-digit inflation of the 1970s or the recent post-pandemic surge, however they still compound and build up over time.
For example, at just 3% annual inflation, the cost of goods doubles roughly every 24 years. This means that $100,000 in today’s purchasing power would require $200,000 in two decades – within the span of the average retirement period. This erosion is particularly challenging for retirees and savers holding cash. For all investors, inflation creates a “hurdle rate” that their investment returns need to exceed in order to grow their wealth.
Inflation continues to be sticky
in July. Wholesale prices surged 0.9%, the largest monthly increase since June 2022, and far above what economists had expected. The prices of goods rose 0.7% over the period, while services jumped 1.1% in just a single month.1
These numbers matter because increases in wholesale prices often show up in consumer prices with a lag of several months, as inflation makes its way through the supply chain. This is consistent with companies absorbing some of the costs of tariffs up to this point but potentially beginning to pass higher prices on to customers.
The latest Consumer Price Index report shows a less dramatic increase in prices, but still confirms that inflation is stickier than many would like. These recent figures show that prices rose 2.7% over the past year for headline inflation, or 3.1% when excluding food and energy prices which have been flat or negative. Much of this was due to increases in shelter costs (i.e., the cost of housing).2
Again, while these numbers help us understand the economy in an abstract way, they also directly impact the budgets of everyday households. The price increases are appearing where consumers feel them most: restaurant meals rose 3.9% over the past year, medical care 3.5%, and car insurance jumped 5.3%. Even household items like furniture have risen 3.4%, adding pressure to family budgets that have already been stretched by years of higher prices.
Keeping up with inflation requires careful asset allocation
So, it’s important to keep in mind what inflation means for portfolios. The chart above shows that the average level of interest earned on cash hasn’t kept up with inflation. In addition, the amount held in money market funds is still at all-time highs of $7.1 trillion, even as short-term interest rates have
declined.3
While the past is no guarantee of the future, history shows that both stocks and bonds have outpaced inflation over long periods, as depicted in the first chart above. However, stocks can be volatile during inflationary periods, as demonstrated in 2022. This is why a balance of asset classes that can withstand both inflation and periods of volatility can help investors stay on track.
Perhaps most importantly, investors should resist the urge to make dramatic portfolio changes based on monthly inflation readings or concerns over tariffs. While it’s crucial to ensure portfolios are positioned for different scenarios, overreacting to short-term data often leads to poor timing decisions that can derail long-term financial goals.
The bottom line?
Inflation’s gradual erosion of purchasing power is a key investment challenge. Holding an appropriate portfolio that can generate income and growth is the best way to achieve financial goals. Contact a Vertex Advisor at in**@************rs.com.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested in directly.
All investing involves risk, including loss of principal. No strategy assures success or protects against loss. The economic forecasts set forth in this material may not develop as predicted, and there can be no guarantee that strategies promoted will be successful.
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