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Explore: 2020 1st Quarter Newsletter

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The Federal Reserve’s Unprecedented Moves

In response to the COVID-19 pandemic, almost every state in America is under some sort of stay-at-home order. This unprecedented time has also led many businesses, large and small, to downsize or close up shop entirely. Because of the drastic impact that COVID-19 has had on global and domestic concerns, the Federal Reserve Board has taken a multitude of measures to buttress the American economy.

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Condor Capital Reviews 1st Quarter 2020

The first quarter of 2020 was a difficult time for financial markets and the world more broadly.  In addition to the medical toll, the sweeping pandemic known as the novel coronavirus, or COVID-19, and the shutdown it created shuttered small businesses, disrupted global supply chains, stunted demand for goods, and caused unemployment to spike.  For the stock market, the result was a decline of 19.6% as measured by the S&P 500 Index. While the market did rally and rebound sharply in the quarter’s final two weeks, the first three months of 2020 still ended as the worst on record since 1987.  Meanwhile, the CBOE Volatility Index, a common measure of market volatility informally known as the VIX, tripled before calming during the late-quarter rally. While no area of the stock market was immune from this broader selloff, healthcare, technology, and the most defensive sectors like utilities and consumer staples held up relatively better.  On the other hand, the energy sector was by far the worst hit, as a March falling out between major oil producers Saudi Arabia and Russia sent oil prices plunging as low as $20 per barrel. Frustrated by Russia’s unwillingness to agree to production cuts, the Saudis vowed to price the Russians out of the market, leading oil markets to post their largest one-day decline since the Gulf War.

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Roth IRA Conversion in the Era of COVID-19

The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement.

However, difficult times may open doors to new possibilities. Businesses are changing their ways of operating, and individuals are exploring new avenues for investment. It may be time for you to consider some opportunities, as well.

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Key Provisions of the CARES Act

Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1

To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1

The CARES Act has far-reaching implications for many. Here are some important provisions to keep in mind:

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Condor Capital’s Ken Schapiro Listed in Barron’s Top 1,200 Advisors Ranking for 2020

Condor Capital Management is pleased to announce that our president, Ken Schapiro, has been selected in Barron’s Top 1,200 Advisors Ranking. He is currently #31 in the state of New Jersey for 2020. This marks the fourth consecutive year he has attained this prestigious honor.

“I’m honored to be selected again by Barron’s. We are always working harder to improve our client service, and these kinds of results show that our efforts are paying off,” said Schapiro. “We’ll keep striving higher. At Condor, it has always been a team effort, and my entire staff deserves credit for all the work they’ve done.”

In this year’s especially competitive application process, data was provided by around 4,000 advisors across the nation to evaluate top advisors by state. As per Barron’s report, various factors that are taken into consideration for the rankings include: assets under management, revenue generated for the firm, regulatory record, quality of practice, and philanthropic work. With these metrics, Barron’s is able to pinpoint those who provide excellent levels of service to provide a comprehensive directory of trustworthy advisors for clients who may be seeking assistance in investing, financial planning, and other services.

For Ken Schapiro’s directory listing on Barron’s, please click here.

Founded in 1988, Condor Capital Management is an employee-owned, SEC-registered investment advisor based in Martinsville, N.J. employing 20 professional and support staff.  Since Condor is a fee-only investment management firm, its fees are based on portfolio size, not sales commissions or number of trades. As a true fiduciary, Condor is always working in a client’s best interests and utilizes an integrated approach to investment management that includes thorough financial planning advice on a complimentary, as-needed basis.

For more information on Condor Capital Management, please visit https://www.condorcapital.com or call 732-356-7323.

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Condor Capital Management Selected by NJBIZ for Best Places to Work in NJ Award for 2020

We are pleased to announce that Condor Capital Management has been chosen this year for NJBIZ’s Best Places to Work in New Jersey award as part of the “small company” category. This marks the eighth year we have qualified for placement in this prestigious list. To view the full list of winners, please click here.

Through a program that conducts confidential surveys of employees, NJBIZ gathers feedback on different employers to offer insights into the most well-liked workplaces in the state. This data is used to analyze various facets of each company, including but not limited to employee benefits, work-life balance, salary, and culture. These factors are all taken into consideration in generating a list of top-ranking employers.

“We take pride in fostering a positive environment that allows our employees to be fully engaged and fulfilled in their work. If you asked anyone in our team, I think you would hear the same thing,” said Chief Compliance Officer Michael Walliser. “It’s important to us that we provide our clients with the best possible service, and to achieve that, it’s also important to make sure our people are happy with what they do. We’re honored to be recognized by NJBIZ this year.”

Founded in 1988, Condor Capital Management is an employee-owned, SEC-registered investment advisor based in Martinsville, N.J. employing 20 professional and support staff.  Since Condor is a fee-only investment management firm, its fees are based on portfolio size, not sales commissions or number of trades. As a true fiduciary, Condor is always working in a client’s best interests and utilizes an integrated approach to investment management that includes thorough financial planning advice on a complimentary, as-needed basis.

For more information on Condor Capital Management, please visit https://www.condorcapital.com or call 732-356-7323.

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A Guide for the 2020 Tax Season

In this guide, we’ll explore ways to help you prepare for the upcoming tax season.

Keep in mind, this guide is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your strategy.

April 15, 2020 is the deadline the Internal Revenue Service sets for filing your 2019 tax returns. If you believe you will miss that deadline, you should consider filing for an extension.

Here’s a quick summary of the major changes for 2019:

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Five Red Flags That Raise the Odds of an Audit

The IRS audited about 1 million tax returns in fiscal year 2018, and nearly 75% of those examinations were conducted entirely through correspondence.1 Taxpayers selected for an official audit are notified by mail.

Confusing matters, the IRS also mails other types of compliance notices, which may propose additional tax based on math errors, the automated detection of underreported income, or other factors. The National Taxpayer Advocate calls these notices “unreal” audits, because the IRS doesn’t count them as audits. But their impact is real — so the frequency and effectiveness of IRS compliance contacts are somewhat understated. About 8.5 million taxpayers experienced “unreal” audits during fiscal year 2016, and if they were included the audit rate would jump from 0.7% to more than 6.0%.2

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