cgtc and baptist health and wealth series
Coral Gables Trust Company and Baptist Health Foundation Launch Inaugural Health And Wealth Series
Coral Gables Trust Company and Baptist Health Foundation celebrated the launch of a newhealth and wealth series designed to appeal to those in the business community who have a shared interest in hearing about important topics related to wealth management and healthcare.
The inaugural event, held at the Gables Club Il Ristorante in Coral Gables on February 10th, was hosted by Jim Davidson, CEO and founder of Coral Gables Trust and Joe Natoli, Executive Vice President and Chief Administrative Officer of Baptist Health South Florida.
The evening began with a discussion by Dr. Michael Zinner, CEO and Executive Medical Director of Miami Cancer Institute,part of Baptist Health, who spoke to five years of accomplishments at the Institute. Dr. Zinner cited the impact Miami Cancer Institute, founded in 2017, has had on patient care and outcome, highlighting the more than 148 new clinical trials underway, its leadership in the field of Proton Therapy, hiring of over 118 renowned cancer experts from around the world, and the success of the bone marrow transplant program from zero transplants to more than 150 under the leadership of Dr. Guenther Koehne, Deputy Director, Chief of Blood and Marrow Transplant and Hematologic Oncology at Miami Cancer Institute.
Dr. Zinner added that many of the innovative cancer-fighting therapies that have placed Miami Cancer Institute among Florida's top cancer programs since its founding just five years ago are now available to cancer patients in Broward, Palm Beach and Monroe Counties.
Steve Chiavarone CFA, the Vice President, Portfolio Manager, and Equity Strategist of Federated Hermes, as well as a regular contributor to CNBC, took the podium next telling the audience, "Three things that should never be true at the same time, inflation at 7.5%, rates are at 0% and The Fed is buying bonds, all of which are happening now."
Chiavarone focused his presentation on the main concern in the economy "the impact of inflation“ while deeming 2022 as the revenge of boring, as investors are now pivoting to companies that have earnings today versus those that could have earnings tomorrow.
Chiavarone cautioned that the US is experiencing the highest levels of inflation since 1982, with real consequences for the economy as companies must pay more for employees and raw materials. He added that high inflation will tip the hand of the Federal Reserve into action as one of their mandates is keeping inflation at a stable level. Given the Federal Reserve's limited policy tools, the main concern that comes from rate increases is the amount and pace of future rate hikes.
"If the Federal Reserve becomes overly aggressive it could stunt the growth of the economy," said Chiavarone. "On a positive note, as a result of the recent correction, valuations have come down. While stocks still are not cheap, valuations for some companies have now come to levels where they are more attractive than they have been since the significant decline in 2020."
Gables Trust enjoyed unprecedented growth in 2021, reporting more than $2 billion Assets Under Management. This stems from a record year when assets rose from client portfolio gains and the South Florida-based institution benefitted from a wave of new customers from the communities where they operate, as well as new residents from California and New York who domiciled to the region and sought to grow and preserve their portfolios with the highly respected wealth management firm.
"We are excited to partner with Baptist Health Foundation on this new series that will share sage financial advice with world class speakers and the latest medical knowledge from some of the top minds in medicine", said Davidson.
Founded in 2004 by industry veterans, James W. Davidson and Dean Klevan, whose careers and reputations were honed at some of the most revered names in banking, Goldman Sachs and Morgan Stanley, Coral Gables Trust was established to provide transparent, high-level wealth management and fiduciary services to local affluent high net worth families, charities, and professionals. The Firm has forged a reputation as the gold standard in trust and wealth management services - growing from a startup with a HQ office in Coral Gables to the leading independent, privately-owned Firm inSouth Florida with 33 professionals in three additional offices in Fort Lauderdale, Boca Raton and West Palm Beach.
About Coral Gables Trust Company
Coral Gables Trust Company (CGTC) is the largest independent and privately held trust company headquartered in South Florida with more than $2 billion of assets under management, and a leading provider of Wealth Management, Trust and Financial Planning services throughout the State. Founded in 2004, CGTC serves clients which may have investable assets well below the minimum required by most of the larger national institutions - inclusive of affluent individuals and families, small to medium sized companies, foundations, and pension and endowment funds. Devoted toward putting our clients' interest first, CGTC strives to provide conflict-free services, personalized advice, open-architecture (no proprietary products), and asset based fees.
About Baptist Health Foundation
The mission of Baptist Health Foundation is to inspire philanthropy and build extraordinary donor relationships in support of excellence, innovation, community wellness and global leadership in healthcare at Baptist Health South Florida. Through philanthropy, the Foundation supports and expands Baptist Health's ability to provide outstanding patient care and bring the latest treatments to patients and families affected by a serious illness. Donor contributions also allow the Foundation to assist Baptist Health facilities in keeping pace with technology and equipment advances, perform cutting-edge research and offer continuing education opportunities to medical staff.