RZH News: RZH Advisors Named to USA Today’s Top Financial Firms; Carl Zuckerberg Earns National Recognition

RZH Advisors is proud to be named one of USA Today’s Top Financial Advisory Firms1, for the second year in a row – reflecting our continued commitment to delivering thoughtful, client-centric wealth management and long-term results.

We are also pleased to share that Carl Zuckerberg, Founding Principal, has once again been recognized on Barron’s Top 1,500 Financial Advisors2 and Forbes | SHOOK Best-in-State Wealth Advisors3 rankings – both honors underscore his leadership and dedication to serving clients at the highest level.

These achievements are a true team effort! We are grateful to our colleagues for their hard work and shared commitment to positive outcomes, and to our clients for their continued trust and partnership. It is a privilege to serve as your long-term advisor by helping navigate complex financial decisions.

[1] USA Today Best Financial Advisory Firms 2026 was published on April 14, 2026, in partnership with USA Today and STATISTA. Companies were awarded based on performance and market appreciation, evaluated in part via an independent survey among over 30,000 clients, industry experts, and constituents. In total, the top 1,000 firms were included in the ranking. No compensation was exchanged in consideration for this ranking.

[2] Barron’s Top 1,500 Financial Advisors was published on March 20, 2026, based on assets under management, revenue produced for the firm, regulatory record, quality of practice, and philanthropic work as of September 30, 2025. The data used in this ranking is provided by individual advisors in conjunction with regulatory databases. No compensation was exchanged in consideration for this ranking.

[3] Forbes 2026 Best-in-State Wealth Advisors was published on April 7, 2026, in partnership with Forbes and SHOOK research based on data as of December 31, 2025. Full ranking methodology can be found here. No compensation was exchanged in consideration for this ranking.

RZH Insights: When the Noise is Loudest, the Plan Matters Most

Is your head spinning and your stomach upset given today’s news cycle?  You’re not alone.

In just the first ninety days of this year, we have witnessed an extraordinary convergence of economic, political, and market events – each one, on its own, capable of unsettling most investors. From geopolitical conflicts and unexpected policy developments, to sharp rotations within equity markets, surprise economic data, and moments of outright panic driven by speculative forecasts – the backdrop has been, by any measure, chaotic.

  • The United States undertook a highly unconventional geopolitical action, removing Venezuela’s president from power and detaining him on U.S. soil.
  • The U.S. administration publicly entertained the strategic acquisition of Greenland.
  • The Supreme Court invalidated key tariff measures enacted under emergency economic authority.
  • The price of Bitcoin declined by 50%, reinforcing both its volatility and uncertainty surrounding its role as a reliable store of wealth1.
  • The opening stages of the midterm election cycle began, introducing the potential for a meaningful shift in Congressional control.
  • Equity markets experienced a pronounced rotation from growth to value with AI euphoria shifting from unbridled optimism to worrisome distrust.
  • Civil unrest intensified across the country, culminating in fatal and widely covered confrontations between federal agents and protesters in Minneapolis.
  • A little known researcher, suggesting the possibility of severe economic contraction and unemployment levels of 10%, triggered a sharp, albeit temporary, bout of market anxiety2.
  • Silver prices surged dramatically before experiencing a historic one-day collapse of 35%3, underscoring the speculative nature of the commodity markets.
  • The United States and Israel dismantled leadership in Iran, contributed to the effective closure of the Strait of Hormuz, and drove a significant spike in oil prices.
  • “Private Credit” often-believed to be an exclusive asset class of the wealthy and institutions began weakening and faced massive redemptions4.
  •  A YouTube journalist uncovered what appeared to be extensive fraud in Minnesota and California, revealing evidence of widespread misuse of taxpayer funds and prompting public scrutiny5.
  • Financial journalism once again pronounces that there is “no end in sight”.

And yet the US stock market is only down about 5% for the year, after doubling from just over three years ago6.

The Illusion of Urgency

Periods like this create a powerful – and very human – urge to act. To “do something.” To adjust. To protect.

This instinct is not irrational. It is simply misplaced.

The reality is that markets are always processing uncertainty. What changes is not the presence of risk, but the intensity of the narrative surrounding it. Today’s headlines feel urgent because they are delivered with relentless frequency and amplified emotion.

But here is the critical distinction:

Current events feel unprecedented in the moment – but they are entirely consistent with history.

NONE of the crises that I have written about over the last two decades kept the stock market from attaining an all-time high – JUST TWO MONTHS AGO7. 

And that is why we should never make rational long-term investment policy out of current events.

The Core Principle: Plans, Not Predictions

At RZH, we operate from a foundational belief:

Long-term investment success is not achieved by reacting to current events. It is achieved by executing a disciplined plan – which accounts for interim risk and volatility.

Your financial plan was not built assuming only calm markets. It was built precisely for moments like this.

It reflects:

  • Your near-term needs and long-term objectives
  • The time horizon required to achieve them
  • The liquidity needed to ensure full attainment of these objectives
  • The historical realities of market returns – including volatility and bear markets
  • A diversified portfolio designed to protect short-term needs and capture premium returns over time

None of those inputs have changed.  What has changed is the level of noise.

Why Reacting Fails

No advisor – no matter how experienced – can consistently predict:

  • The path of the economy
  • The occurence or resolution of geopolitical events
  • The short-term direction of markets

More importantly:

Even if one could predict these events, translating that into consistently successful portfolio decisions is virtually impossible.

History is unequivocal on this point.

Investors who attempt to navigate each crisis:

  • Tend to sell when uncertainty is highest
  • Miss recoveries that occur unexpectedly and rapidly
  • Ultimately compromise the long-term outcomes their plans were designed to achieve

When you have a sound, well-designed plan, volatility is not the risk. Reacting to volatility is.

What This Moment Is Teaching Us

If there is value in today’s environment – and there is – it lies in this:

It reinforces the futility of building investment policy around current events.

Markets do not reward anxiety – They reward discipline.

Historically, markets do not compensate reaction – They compensate patience.

And markets have historically transferred wealth from those who act on fear…to those who remain aligned with a thoughtful plan.

Our Guidance

At moments like this, our role is not to predict outcomes. It is to provide clarity, perspective, and discipline.

Which leads to a simple directive:

  • Stay aligned with your plan
  • Discount the noise
  • Maintain perspective
  • Allow time – and markets – to reward patience

Closing Thought

Periods of heightened uncertainty test conviction. But they also reaffirm what has been true:

There have historically been few (if any) asset classes (or any financial vehicles) that have generated real wealth as reliably and as effortlessly as have mainstream American common stocks.

We believe the most reliable path to long-term financial success and capturing the premium returns of common stocks is not reacting to the world as it unfolds – but remaining committed to a plan designed to endure it.

As always, we are here to guide you through it – with clarity, discipline, and confidence.

Best regards,

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

PS – Make sure to look for Brendan McEwan’s upcoming RZH Insights which outlines our approach and philosophy regarding how to best invest in equities over time.

[1] Yahoo! Finance. Decline calculated using BTC as measured from October 6, 2025 ($126,198) through February 28, 2026 ($63,062).

[2] “Financial researcher warns of double-digit unemployment, stock market crash if AI works”. Noah Weidner. February 23, 2026.

[3] Yahoo! Finance. One ounce of silver as measured on January 30, 2026; high of $117.79 down to $76.03.

[4] “The Private-Credit Industry’s Trouble: Surging Redemptions, Slower Fundraising.” Wall Street Journal. March 26, 2026.

[5] Nick Shirley.

[6] Yahoo! Finance. “US Stock Market” 5% decline calculated using performance of Vanguard S&P 500 ETF (“VOO”) from January 1, 2026 ($627.13) through March 31, 2026 ($597.55). “Doubling over three years” calculated using performance of VOO from October 12, 2022 ($312.90) through December 31, 2025 ($627.13). Investors cannot directly purchase an index.

[7] Yahoo! Finance. S&P 500 Index closed at 7,002.28. Investors cannot directly purchase an index.

Important Disclosures

RZH Insights: Investment Optimism for 2026 and Beyond

2025 marked another year dominated by alarming, distressing and fear-driven headlines. A wall of worry was ever-present even though the stock market climbed nearly 18% 1 – an outcome that surprised most but was entirely consistent with my expectations. Over the years, many have asked me a version of the same question:

“Why are you always so optimistic about the stock market?”

It’s a fair question, especially in a world that feels perpetually unsettled. Markets swing. Headlines scream. Fear is amplified. Pessimism often masquerades as prudence. Optimism, on the other hand, is frequently dismissed as naïve.

But when it comes to long-term investing, optimism isn’t a personality trait –  it’s an acknowledgment of reality and…

OPTIMISIM IS THE ONLY REALITY for investing in the world today.

The Market Is a Forward-Looking Machine

The stock market is less a report card on today’s economy – rather it’s a living, breathing forecast of tomorrow’s world. And when you look at history honestly, one truth stands out clearly:

Human progress consistently outpaces our imagination and expectations.

Innovation rarely arrives in neat, predictable increments. It comes in waves – often faster, broader, and more transformative than anyone expects. The technologies that end up reshaping our lives and our economy are almost always underestimated in their early stages.

Why?

Because people tend to extrapolate the present rather than imagine what’s next. That gap between imagination and the present matters enormously for investors.

Innovation Is Chronically Underpriced

Most people are very good at seeing today’s problems and very bad at envisioning tomorrow’s solutions. As a result, innovation is almost always underpriced by the market before it becomes obvious.

Consider:

  • We struggle to imagine new products before they exist
  • We underestimate productivity gains before they compound
  • We discount breakthroughs because they don’t yet fit into familiar models

And yet, time and again, innovation redefines what’s possible – economically, socially and financially. The companies that ultimately drive long-term market returns are rarely the ones that look comfortable or are fully understood at the outset. They are born from experimentation, risk-taking, and relentless problem-solving.

Markets, like people, struggle to price what they cannot yet fully imagine.

This persistent underestimation of innovation is not a flaw – it is an opportunity. It is one of the primary reasons long-term equity investors are rewarded.

Volatility Is the Price of Progress

Short-term market volatility often reflects uncertainty about how progress will unfold – not whether it will. Innovation is disruptive by nature. It challenges incumbents, upends assumptions, and forces constant adaptation.

That process can feel chaotic in the moment.

But zoom out far enough, and the direction becomes unmistakable.

Over long periods, markets don’t move higher because conditions are calm.

They move higher because productivity improves, efficiencies increase, and human ingenuity continues to advance and solve problems. All of this leads to increased capital formation and eventual wealth creation.

Why RZH Remains Disciplined

At RZH Advisors, our philosophy is grounded in a simple but powerful conviction:

The future will be more innovative, more productive, and more capable than the present.

That belief isn’t blind optimism or wishful “Hope” – it’s an observation supported by centuries of evidence.

Trying to time optimism – to wait until a new idea or innovation feels “safe” or fairly priced – has historically meant missing the very returns that drive long-term wealth creation.

The greatest investment risk isn’t short-term volatility or uncertainty.

It’s failing to participate in progress or disengaging from the process when volatility (fear) spikes.

The RZH Perspective

As long as people continue to imagine, invent, and improve, the long-term case for equities remains intact. And as long as innovation continues to surprise us – as it always has – those willing to stay invested will continue to be rewarded.

That is why we stay invested.

That is why we remain disciplined.

That is why we stay patient.

And that is why optimism remains the most rational long-term investment strategy of all.

All of us at RZH Advisors are excited about experiencing 2026 with you and being amazed at what’s next!  May this year be your best ever!

Thank you, as always, for your continued trust and partnership. 

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

P.S.  Fortunately, there are a continuous number of bold, imaginative, enterprising people thinking about the future. If you want to be inspired about what’s next, just click on a few of these links which highlight the best inventions and breakthroughs of 2025: 

[1] S&P 500 Index performance (Total Return including dividends) as measured from January 2, 2025, through December 31, 2025. Yahoo Finance. Investors cannot directly purchase an index.

Important Disclosures

RZH Insights: Mid-Year-ish Update and Timely Perspective

Every year brings its own surprises and uncertainties, and 2025 is no exception. While I will address recent events shortly, it is worth beginning with a reminder of the enduring principles that anchor successful wealth management. These guiding truths continue to shape our approach in working toward your objectives.

GENERAL PRINCIPLES

  • We are goal-focused, plan-driven, primarily long-term equity-oriented investors. Our portfolios are derived from, and driven by, your most important lifetime financial goals, not from any view of the economy or the markets.
  • We don’t believe the economy can be consistently forecast, or the markets consistently timed. Nor do we believe it is possible to gain any advantage by going in and out of the stock market, regardless of current conditions.
  • We therefore believe that the most efficient method of capturing the full premium compound return of equities is by remaining fully invested. We believe that even in challenging periods, reinvested dividends and disciplined portfolio rebalancing allow us to purchase more shares at lower prices – positioning you to benefit from the long-term power of equity compounding.
  • We believe that the greatest risk for long-term investors is not short-term volatility, but rather, not achieving your long-term goals.

CURRENT COMMENTARY

Ho-Hum, the stock market is already up over 10% this year, just like five of the last six years! 1

  • If you looked at the stock market on the first trading day of this year, and not again until today, you could be forgiven for concluding that not much, if anything, had happened. In fact, a great deal has happened – but at least, so far, to no lasting effect.
  • The S&P 500 Index reached a new all-time high on February 19th.2 By April 7th, it had fallen 21%3 (on an intra-day basis). And even that doesn’t express the degree of sheer panic (there’s no other word for it) that enveloped the markets upon President Trump’s announcement (on April 2) of a dramatically increased tariff protocol.
  • The panic ended abruptly after President Trump announced a 90-day postponement of most of the new tariffs. In the months that followed – buoyed by continued economic strength and signs of moderating inflation – the S&P 500 Index returned to record highs, rising an astonishing 33% from its April 7th low.4
  • As it virtually always is, the optimal course of action for long-term investors was simply to continue following your plan. That’s what we encouraged our clients to do. And as the second half of the year continues, that recommendation stands. Please don’t mistake this for an economic or market outlook. We have no such forecast for the next five months, any more than we did on January 1st.
  • Our only forecast is that the excellent companies in our portfolios will continue managing challenges and innovating over time – increasing their earnings, raising their dividends, and supporting our client’s pursuit of their long-term goals.
  • Panic doesn’t often seize the investing public as suddenly as it did in the first week of April, nor vanish as suddenly as it did the following week. Still, this episode can and should serve as a tutorial.
  • Its lesson: investors succeed over time by consistently following their plan regardless of the latest “crisis.” Others often fail by reacting to negative events and liquidating even the highest quality stocks (great companies) at panic prices. We believe this is a fundamental choice in investing (and our mission, which we cherish) to help you continue making the wise choice.

PERSPECTIVES IN TIMES OF UNCERTAINTY: LESSONS FROM THE ‘70S AND TODAY

For many of us, the 1970s evoke memories of turmoil – economically, politically, and geopolitically. Inflation surged. President Nixon severed the link between the U.S. dollar and gold. The S&P 500 Index lost nearly half its value between 1973 and 19745 and didn’t reclaim its previous high for the better part of a decade. The oil embargo, Watergate, Vietnam, and a deep recession defined an era widely regarded as a “lost decade” for investors. 

The President, the Federal Reserve and US fiscal policies were held in low regard.  Sound familiar? 

Business Week even declared “The Death of Equities” on its cover on August 13, 1979 – proclaiming that we should “regard the death of equities as a near-permanent condition”.6

But history is often more nuanced than headlines allow. While investors saw stagnation and political turmoil on the surface, a quiet revolution was unfolding beneath.

Just months after the gold standard was abandoned in 1971, Intel introduced the first commercially available microprocessor laying the foundation for the computer revolution.7 By 1975 and 1976, Microsoft and Apple were born – companies now valued at a combined $7.3 trillion.8

In hindsight, it’s a profound reminder: innovation doesn’t wait for calmer waters. It advances – even in the face of fear, volatility, and skepticism.  Sometimes the most transformative opportunities are often born during periods of maximum discomfort – think AI (Artificial Intelligence) recently.

For those who remained invested, the results were extraordinary. From the time of that infamous magazine cover in August 1979 through July of this year (46 years) the S&P 500, assuming dividends were reinvested, compounded at 12.01% annually. In other words, a $1,000,000 investment would have grown to $184,000,000 (excluding taxes).9   Take a moment and re-read that last sentence.   Now read it again!

For most of our clients, the majority of their beneficiaries will easily live for another 46 years.  At RZH we are not investing for “what will happen next”, we are investing for what will ultimately happen over the balance of your investing lifetime – and beyond, to the extent that legacy and generational wealth is part of your plan.

Crises end. Markets recover. Innovation endures.

Today’s headlines may be unsettling, but for investors with vision, discipline, and a structured plan, they need not be paralyzing. Our role as your advisors is to help you look past the noise – focusing not on what may happen next, but on what is most likely to unfold over the course of your financial life and legacy.

As Winston Churchill once said, “The farther backward you can look, the farther forward you can see.”

Let’s continue to look forward – together.

We welcome your comments and questions. Thank you, as always, for being our clients. It is a privilege to serve you.

May you be enjoying a wonderful summer,

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

[1] Total Return of S&P 500 Index assuming dividend reinvestment from January 1, 2025, through August 12, 2025. Investors cannot directly purchase an index.

[2] Yahoo Finance. S&P 500 Index intraday high (6,147).

[3] Yahoo Finance. Performance of S&P 500 Index as calculated from intraday high (6,147) on February 19, 2025, through intraday low (4,835) on April 7, 2025.

[4] Yahoo Finance. Performance of S&P 500 Index as calculated from the intraday low (4,835) on April 7, 2025, through market close (6,445.76) on August 12, 2025.

[5] Yahoo Finance S&P Index Historical Data. S&P Index return calculated from market close (120.24) on January 11, 1973, through market close (62.28) on October 3, 1974.

[6] It’s Been 40 Years Since our Cover Story Declared “The Death of Equities”. Bloomberg BusinessWeek. August 13, 2019.

[7] Intel Introduces the First Computer on a Chip. EBSCO Information Services. 2023.

[8] Yahoo Finance. Combined market capitalization of Microsoft Corporation (MSFT: $3.91T) and Apple Inc (AAPL: $3.44T) as of August 12, 2025.

[9] S&P 500 Index Historical Calculation of 12.01% for the average of closing prices for the month of August 1979 through the month July 2025. Depicted investment performance assumes dividend reinvestment. For illustration purposes only, an investor cannot directly purchase an index.

Important Disclosures

RZH Insights: The More Things Change, the More the Stock Market Stays the Same

It’s hard to believe, but it’s been a year since Donald Trump and Joe Biden stood on stage in Atlanta, on June 27, 2024, for what would become their first – and only – debate.

What followed reshaped the American political and cultural landscape in ways few could have predicted. Since then, the national conversation has been dominated by words like “chaos” and “turmoil”.  Cries of “this time it’s different” rained down from the pundits.  It’s easy to understand why many felt this way when you consider the myriad events during the past 12 months:

  • Joe Biden withdraws from the presidential election
  • Donald Trump survives two assassination attempts
  • A global stock market decline wipes out $6.4 Trillion1
  • Climate Crisis hits new highs with catastrophic global natural disasters
  • Ukraine–Russia conflict intensifies
  • Israel-Hamas conflict continues
  • Donald Trump decisively wins the presidency
  • AI reshapes business and threatens millions of jobs
  • Elon Musk and DOGE turn DC agencies inside-out
  • President Trump imposes unprecedented tariffs
  • The S&P 500 index falls 21% in less than three months2
  • President Trump calls for the removal of Federal Reserve Chair Jerome Powell
  • Moody’s downgrades U.S. debt rating as national debt levels hit all-time high3
  • ICE raids and deportations divide America
  • Active-duty Marines deployed on U.S. soil to manage riots in Los Angeles
  • Israel attacks Iran
  • “No Kings” Day protests sweep the country
  • America enters the Israel-Iran conflict by bombing Iranian nuclear sites

The uncertainty, fear, and alarming headlines have been so overwhelming that I felt compelled to reflect on their emotional and psychological toll – in this recent newsletter, where I wrote about the impact these events have had on our clients, on me, and on our firm.

And yet, over arguably one of the most chaotic, emotionally charged and unpredictable 12-month periods in recent history, the S&P 500 rose 13.3%!4  An annual return ABOVE historical averages.5

How is that even possible?

The answer, as I’ve said countless times, and with deep conviction, is remarkably simple:

This time isn’t different: stock prices follow earnings – not headlines.

Great companies adapt. They find ways to navigate challenges, innovate through adversity, and create long-term value for shareholders. Over time, the stock market isn’t reacting to the noise of headlines – it’s responding to the enduring profitability of the companies it reflects.

So, the S&P 500 rose 13.3%, care to take a guess as to how much corporate earnings rose?  Up 13.4%.6  Coincidence?  Hardly!

As evidenced by this chart, this dynamic has been true for over 80 years.  Stock prices follow earnings.  The market doesn’t rise because the world is calm – it rises because great businesses keep delivering results. That’s the power of disciplined investing. That’s the power of focusing on fundamentals and having a plan to carry you through.

In other good news, the past 12 months also saw positive developments in several other high-profile areas:

  • Overall Inflation (CPI) – down 27%7
  • Price of Oil – down 20%8
  • Price of Eggs – down 25%9
  • Average price of a Taylor Swift concert ticket – down 29%10
  • Price of Bitcoin – up 56%11

YOUR FUTURE IS OUR MISSION

All of us at RZH work tirelessly to protect you and your loved ones.  We will get through this together and continue to prosper.  We’ll continue to carefully manage your plan behind the scenes, so please try to live tomorrow like you lived today – you’ve earned and deserve it.

Best regards,

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

[1] “$6.4 Trillion Stock Wipeout Has Traders Fearing ‘Great Unwind’ is Just Starting”. Bloomberg News. August 8, 2024.

[2] Performance of S&P 500 Index as measured from intraday high (6,147) on February 19, 2025, through intraday low (4,835) on April 7, 2025. Yahoo Finance. Investors cannot directly purchase an index.

[3] Moody’s downgrades United States credit rating, citing growth in government debt. CNBC. May 16, 2025.

[4] S&P 500 Total Return as measured from June 25, 2024, through June 24, 2025. YCharts.

[5] Historical annualized return of S&P 500 Index of 10.47% as measured from June 1, 1925, through June 1, 2025, assuming dividend reinvestment. DQYDJ.com.

[6] S&P 500 Trailing Twelve-Month (TTM) Earnings from March 31, 2024, through March 31, 2025. YCharts.

[7] “Current US Inflation Rates: 2000-2025”. Inflation decline measured from May 31, 2024, through May 31, 2025. US Inflation Calculator, CoinNews Media Group.

[8] Crude Oil Mercantile Exchange pricing measured June 27, 2024, through June 24, 2025. Yahoo Finance.

[9] “Retail price of eggs (grade A, large) in the United States from 1995 to 2024”. Statista. January 31, 2025.

[10] Average price of Taylor Swift ticket price as measured from June 2024 through June 2025 according to CW33.com and SimpleBeen.com.

[11] Bitcoin (BTC) return as measured from June 27, 2024, through June 24, 2025. Yahoo Finance.

Important Disclosures

RZH Insights: Protecting Yourself from Fraud

Fraud and financial scams are becoming increasingly common, and even the most vigilant individuals can become targets. Understanding the risks and taking proactive measures can help safeguard your assets and personal information. Below, we outline common fraud schemes along with key steps to protect yourself.

Common Fraud Schemes & Warning Signs

1. Phishing Scams (Email & Text Fraud)

Example: A client received an email appearing to be from their bank, requesting account verification via a link. The email led to a fake website designed to steal login credentials.

Warning Signs:

  • Emails or texts with urgent language (e.g., “Your account will be locked!”).
  • Links that direct you to an unfamiliar website.
  • Unexpected requests for personal information.

How to Protect Yourself:

  • Never click on links in unsolicited emails or texts; go directly to the company’s website.
  • Verify the sender’s email address carefully.
  • If in doubt, call the institution using a known phone number.

2. Social Security & Government Impersonation Scams

Example: A caller claimed to be from the Social Security Administration (SSA), stating that the recipient’s SSN had been compromised and needed verification immediately.

Warning Signs:

  • Calls or messages claiming you must verify personal details immediately.
  • Threats of arrest, account suspension, or legal action.
  • Requests for payment via gift cards, wire transfers, or cryptocurrency.

How to Protect Yourself:

  • The SSA, IRS, or other government agencies will never call asking for personal info or payments.
  • Hang up and report the call to www.ssa.gov or the FTC.
  • Never share personal information over the phone unless you initiated the contact.

3. Fake Tech Support Scams

Example: A pop-up appeared on a person’s computer warning them of a virus and urging them to call “Microsoft Support.” A scammer convinced them to allow remote access and stole financial information.

Warning Signs:

  • Unexpected pop-ups warning of a virus and asking you to call a number.
  • Callers claiming to be from Microsoft, Apple, or Google offering to “fix” your device.
  • Requests for remote access or payment for unnecessary services.

How to Protect Yourself:

  • Legitimate tech companies will never proactively reach out about issues.
  • Never allow remote access to someone you don’t know.
  • Restart your computer and run a virus scan instead of engaging with pop-ups.

4. Fake Check & Overpayment Scams

Example: A seller on Facebook Marketplace was sent a Zelle payment for more than the item’s price and asked to send back the difference. The payment bounced after the seller returned the difference, leaving them responsible for the lost funds.

Warning Signs:

  • A buyer sends a check or Zelle for more than the agreed price.
  • Requests to return excess money via wire transfer or gift cards.
  • Checks that take a long time to clear (often fake).

How to Protect Yourself:

  • Never accept overpayments
  • Wait for funds to fully clear before withdrawing or sending funds.
  • Always verify the recipient and use caution when sending money electronically

5. Romance & Online Relationship Scams

Example: A client met someone on a dating site who quickly professed love and asked for money to help with an emergency. They later discovered the entire relationship was a scam.

Warning Signs:

  • A new online connection quickly becomes serious and emotional.
  • They always have an excuse for why they can’t meet in person.
  • Requests for money due to a sudden “emergency.”

How to Protect Yourself:

  • Be skeptical of online relationships that escalate quickly.
  • Never send money to someone you haven’t met in person.
  • Reverse image search their photos to check if they appear elsewhere online.

Key Steps to Protect Yourself from Fraud

Enable Two-Factor Authentication (2FA): Add an extra layer of security to your email, bank accounts, and financial institutions.

Enroll in a Credit Monitoring Service: Services like Equifax, TransUnion, or Experian can alert you to suspicious activity and prevent identity theft.

Place a Security Freeze on Your Credit: This restricts access to your credit report, making it harder for fraudsters to open accounts in your name. You can unfreeze it when needed.

Be Cautious with Personal Information: Never share sensitive details like your Social Security number, date of birth, banking information, or passwords unless you are 100% sure of the recipient. Never email this information unless using an encrypted or secure method.

Verify Requests for Money or Information: If a request seems urgent or unusual, take a step back (talk to a friend or loved one) and confirm its legitimacy before acting.

Final Takeaway: Stay Vigilant, Stay Secure

Scammers rely on urgency, secrecy, and emotional manipulation to trick people into acting quickly. This is not an exhaustive list of fraud schemes or protective measures, but it provides a strong foundation for keeping your personal and financial information secure. By staying informed and taking proactive security measures, you can significantly reduce your risk of falling victim to fraud. If you ever have concerns or suspect fraudulent activity, reach out to us immediately. We take the security of your financial future seriously and are always here to help.

Warmest Regards,

Lauren Rowland CFP®CDFA®

RZH Insights: A True Test of Investor Resolve

What a remarkable time to be an investor. Depending on your perspective, the past five weeks have been either deeply unsettling or profoundly instructive. They’ve brought waves of panic – but also powerful reminders of timeless investment truths.

For me personally, this has been one of the most emotionally taxing periods of my 33-year career. It’s not the volatility – we’ve seen plenty of that before. What’s been most challenging is the level of fear and anxiety expressed by clients, even those with solid plans and well-constructed portfolios. The conversations I’ve had in recent weeks have often been emotional, very personal, sometimes painful, and a real test of my own resilience as an advisor.

Over the past month, markets have tempted investors into making the classic and costly mistake: abandoning their long-term strategy under the belief that “this time is different.” If you’re a client or friend of RZH, you know our firm is grounded in conviction – conviction in our disciplined planning and investment process. I have unwavering confidence in the great companies we invest in to navigate through the perennial problems, challenges and black swans that come our way, no matter how chaotic or unique they may appear. And while I have more tempered faith in government responses, I believe strongly in the resilience and adaptability of the global economy over time.

At RZH, we believe success in investing demands discipline, emotional detachment, and a long-term mindset. That doesn’t mean ignoring reality – far from it. Unpredictability and disorder seem to be embedded in this administration’s approach to policy and negotiation. My newsletter on April 4th recognized this and outlined our plan. The market continued falling and bottomed on April 7th. The very next day, we delivered this newsletter advocating caution and patience.

Since that low on April 7th the S&P 500 Index has surged more than 20%1 and the tech-oriented NASDAQ Index gained over 26%2 – both delivering two years’ worth of returns in just over a month. These dramatic reversals reaffirm everything we believe in: thoughtful goal-based planning, strategic allocation, and the importance of staying the course. The best market returns often directly follow the worst, and the timing of these turnarounds is virtually impossible to predict.

Of course, we’re not declaring victory – we are far from “out of the woods.” But we are more confident than ever in the durability of our investment philosophy and the strength of our client relationships. Our mission remains clear: to make market volatility irrelevant to your financial security, and to help you embrace life fully, supported by a plan built to weather any storm.

We don’t know what the next five weeks will bring – let alone the next five days. But what we do know is this: everyone at RZH is prepared, steadfast, and honored to be your trusted partner through it all.

Best regards,

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

[1] Performance of the S&P 500 Index as measured from the intraday low (4,835.04) on April 7, 2025, through market close (5,844.18) on May 12, 2025.

[2] Performance of the NASDAQ Index as measured from the intraday low (14,784.03) on April 7, 2025, through market close (18,708.34) on May 12, 2025.

Important Disclosures

RZH Special Announcement: RZH and Carl Zuckerberg Awarded Industry Honors Again!

We are thrilled to share two meaningful industry recognitions recently awarded to RZH Advisors and Carl Zuckerberg!

RZH Advisors has been named to the USA Today Best Financial Advisory Firms ranking for 20251. This ranking highlights top-performing firms nationwide, selected through a combination of peer recommendations and industry research.

Additionally, Carl Zuckerberg has been recognized as a Forbes|SHOOK 2025 Best-in-State Wealth Advisor 2 for the seventh year in a row! Forbes Best-In-State Wealth Advisors list, developed by SHOOK Research, evaluates advisors based on a rigorous methodology that includes in-person interviews, industry experience, compliance records, and client retention data.

These honors are a reflection of something we never take for granted: the trust you place in us. We are deeply grateful for the relationships we’ve built and the opportunity to guide our clients through life’s most important financial decisions.

We are proud to share these milestones with our clients and friends and remain even more committed to the work ahead.

With sincere appreciation,

Your Friends at RZH

[1] USA Today Best Financial Advisory Firms 2025 was published on April 22, 2025, in partnership with USA Today and STATISTA. Companies were awarded based on performance and market appreciation, evaluated in part via an independent survey among over 30,000 clients, industry experts, and constituents. In total, the top 500 firms were included in the ranking. No compensation was exchanged in consideration for this ranking.

[2] Forbes 2025 Best-in-State Wealth Advisors was published on April 8, 2025, in partnership with Forbes and SHOOK research based on data as of December 31, 2024. Full ranking methodology can be found here. No compensation was exchanged in consideration for this ranking.

Important Disclosures

RZH Insights: The Market Does Not Wait For Certainty

Yesterday, in just 35 minutes, the S&P 500 launched upward 8.5%.1 This was one of the most rapid moves in recent memory. This aggressive turnaround was ignited simply by a rumor that President Trump may delay the implementation of new tariffs by 90 days.2

The fact that markets reacted so sharply – based solely on unconfirmed speculation – underscores just how sensitive investors are to ongoing trade policy developments. Had these rumors been confirmed rather than dismissed, it’s likely the rally would have continued higher.

This is a powerful reminder of why staying invested is so critical, and how attempting to time the markets can quickly prove detrimental. Historically, some of the market’s largest gains have come immediately after its steepest declines.

Selling and “waiting for the dust to settle” can often leave you “sitting in the dust”.

As always, we’re here to answer any questions and to discuss how your portfolio is positioned to weather this storm.

Best Regards,

Brendan McEwan, CFP®, CIMA®

Senior Financial Advisor

[1] Yahoo.com/finance. S&P 500 Index as measured from 9:42am to 10:17am on April 7, 2025.

[2] “White House shoots down rumors of 90-day tariff pause as Trump allies brush off recession fears”. Canal, Alexandra. Yahoo Finance. April 7, 2025. 

Important Disclosures

RZH Insights: The Hurricane Has Come Ashore

For much of this year, the markets have been hinting at turbulence on the horizon. Like seasoned meteorologists, pundits have speculated about the storm’s trajectory.  We’ve seen early warnings…there’s been heavy surf, gusty winds and even the occasional thunderstorm.  Yet the skies stayed mostly sunny, and it looked as though the “tariff storm” would perhaps drift out to sea.  Then, on Wednesday night, the lingering low-pressure system suddenly intensified into a full-blown hurricane and turned directly towards us! 

What’s going to happen next?

The honest answer is… no one truly knows – not even the policymakers steering the ship in Washington!  As I surveyed the financial media earlier this week many “experts” claimed their “inside sources” said President Trump would take a moderate, less aggressive, approach to tariffs. The stock market rallied three days prior, forecasting nothing more than a passing squall.

What do we do?

Feelings of worry, bouts of anxiety, even a sense of panic are all normal reactions. Frustration and regret are also common as we think “how did we not see this coming”.  It’s completely natural to ask, “what should we do now” and “how do we protect ourselves”. These emotions often drive the impulse to act, to “do something” in hopes of regaining control or limiting damage. But in moments like these, taking rash action can often do more harm than good.

Fortunately, clients of RZH have already asked – and we have answered – these tough questions well in advance by building hurricane-resistant portfolios. Just as homeowners along the Gulf Coast build their properties with concrete walls, storm shutters, and metal roofs, we’ve helped fortify your financial house against storms like this one.  And like any storm-tested home, while you may still hear the howling winds or feel the ground tremble, our approach aims to provide stability where it matters most. Yes, there may be some terrifying moments – perhaps even the urge to flee – but history has taught us that stepping outside during a hurricane is almost always the wrong move.

History has also shown us that we shouldn’t try to outsmart the hurricane and abandon our thoughtfully-crafted portfolios – designed well before the storm appeared on the radar.  They have been engineered and stress-tested against past storms (using the financial plan, cash flow models and Monte Carlo simulations).  They are built with the highest quality materials (investment grade bonds and blue-chip stocks) and have ample rations to maintain life for extended periods of time (years’ worth of cash and equivalents). The reason we take such care in crafting a well-diversified, disciplined investment plan is precisely for moments like this. Volatility isn’t a surprise – it’s an expected part of the journey.

No two hurricanes are exactly alike, but one truth remains: they all eventually pass. This one will too.

At RZH, we hear your concerns and deeply understand the emotional weight of uncertainty. We’re here for you – not just as advisors, but as friends. If you have questions or want to talk through your specific situation, please don’t hesitate to reach out.

While these times may feel unsettling for all of us, we’re grateful for the opportunity to stand with you – now and always.  On behalf of the entire RZH team, thank you for your continued trust and friendship.

Best regards,

Carl J. Zuckerberg, CFP®, AIF®, CIMA®  

Principal, Chief Investment Strategist

Important Disclosures