SRI Veteran Joins Conway

March 18, 2024

November 3, 2022

By

Conway Wealth

New Additions to the Conway Wealth Group Team

Parsippany, NJ - June 28, 2022

We’re proud to announce new additions to our advisory team at Conway Wealth. Last month, Gary Matthews, PhD CPA/PFS AIF® joined us as an advisor and Partner along with his long-time cohort, Associate Wealth Advisor, Kenneth Silva Ballard. As an advisor within our organization, Gary will continue to deliver outstanding advice and service to his clients while remaining committed to delivering socially responsible investing through Conway Wealth.

Gary Matthews, Partner has been providing financial services to clients since 1979, when he joined one of the large international accounting firms. He became a licensed CPA in 1981 and a tax and financial planning manager in the firm in 1983. Later, he became a partner and the Head of Tax for a regional CPA firm in Albany, NY. Since 2000, he has been a financial advisor working with individuals, small businesses, not-for-profit and religious organizations specializing in socially responsible investing (SRI) and ESG investing strategies, helping his clients employ their values directly in the construction and management of their investment portfolios.

Gary holds a variety of undergraduate and graduate college degrees, including an MS in Accounting from the University of New York at Albany, and a PhD in Ethics from Union Theological Seminary in New York City.

Gary lives in Madison, NJ with his wife, Lisa, and they have two grown sons and two lovely granddaughters. Gary has always enjoyed physical activities and is an experienced meditator. He has practiced the Yang form of Tai Chi and TM® Meditation for over four decades, and is a retired 3rd degree black belt in traditional moo doe, Oom Yung Doe style.

Gary and Ken’s commitment to join the firm follows several other recent additions to the Conway team. This year, we welcomed other advisors and managing directors, along with an associate wealth advisor. Last year, two retiring advisors as well as a senior tax specialist joined the Conway advisory board, and we added several new members to our operations team to support the business.

Kenneth Silva Ballard, Associate Wealth Advisor has gathered invaluable training from his family’s financial planning business, Ballard Associates, in Farmington CT. Ken entered the business partly due to his grandmother, Edna Lou C. Ballard’s passing in 2014. At her request, he acquired his brokerage licenses to secure the family business, which she founded in 1979. Prior to finance, Ken’s focus has always been on sustainability. Working for over a decade as a chef and member of SlowFoodUSA, Ken was opening farm to table restaurants and advocating for local and sustainable food systems across the country. Earning a degree in Sustainable Business while running a professional kitchen in Hartford CT, Ken realized the potential for investing in sustainable systems and made the transition from chef to Financial Advisor in 2014, becoming a broker for Cambridge Investment Research. Following his grandfather’s retirement, Ken made the move to SRI Investing LLC in NYC, where his focus was solely in socially responsible and sustainable investment strategies for socially and ecologically conscious people and organizations. He follows technology closely to implement advancements and systems to better the client/advisor relationship. Ken holds his Certified Socially Responsible Investing Counselor (CSRIC) designation.

Ken’s disciplined in meditation and ceremony with the indigenous traditions of the Lakota, Maya, Andean, and the Shipibo-Conibo of Peru. He provides his service as a chef to these ceremonial traditions. Ken is a student of Black Dragon Kung Fu and practices incorporating these teachings into all areas of life. 

As we continue to grow both our advisory and operational teams, we’re excited about our ability to further deepen our solutions for clients and to provide the highest level of service.

We look forward to you getting a chance to meet Gary, Ken, and the other new members of the team!

Investment advisory and financial planning services offered through Summit Financial, LLC, an SEC Registered Investment Adviser, doing business as Conway Wealth Group, LLC. Securities brokerage offered through Purshe Kaplan Sterling Investments, Member FINRA/SIPC Headquartered at 80 State Street, Albany, NY 12207 (“PKS”). PKS and Summit Financial, LLC, are not affiliated companies.

Conway Wealth Group LLC is owned by Michael W. Conway. The Life & Wealth Network and Seeds are outside business activities of Michael Conway and are not affiliated with Summit Financial, LLC. 06232022-0474

Initial 2021 Tax Considerations

With the swearing-in of a new President and Vice President, plus convening of the next Congress, affluent Americans are weighing how changes in federal government may financially impact them.

Given that Democrats hold the Presidency and control both Houses of Congress by a slim margin, it now seems likely that tax reform could be passed as a budget reconciliation bill and then signed into law. While there is a remote chance that expected tax changes will be retroactive, it is more probable that they would take effect immediately upon becoming law or even at the start of 2022.

Since 2021 may be a last opportunity to capitalize on current income, capital gains, and transfer tax laws, families are considering key financial & estate planning adjustments, where appropriate.

Income & Capital Gains Tax Proposals

With the swearing-in of a new President and Vice President, plus convening of the next Congress, affluent Americans are weighing how changes in federal government may financially impact them.

Given that Democrats hold the Presidency and control both Houses of Congress by a slim margin, it now seems likely that tax reform could be passed as a budget reconciliation bill and then signed into law. While there is a remote chance that expected tax changes will be retroactive, it is more probable that they would take effect immediately upon becoming law or even at the start of 2022.

Since 2021 may be a last opportunity to capitalize on current income, capital gains, and transfer tax laws, families are considering key financial & estate planning adjustments, where appropriate.

“Be fearful when others are greedy and greedy when others are fearful.”

Responsive Planning

Given the above proposals, there is great uncertainty surrounding future tax policy. Even if some of the more benign tax provisions now in effect are not repealed, many of them are scheduled to sunset at the end of 2025 already.

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  • Phase out the 20% pass-through deduction on qualified business income for people with annual income exceeding $400,000
  • Eliminate capital gain deferral through like-kind exchanges of business & investment real estate for people whose yearly income exceeds $400,000
  • Increase the highest corporate income tax rate from 21% to 28% and subject corporate book income of $100,000,000 or more to a 15% alternative minimum tax
  • Double the tax rate on global intangible low tax income (GILTI) earned by foreign subsidiaries of American businesses from 10.5% to 21%
  • Impose a 10% surtax for U.S. companies that move manufacturing & service jobs to another country and then provide services or products for sale back to the American market
  • Create an advanceable 10% “Made in America” credit for manufacturers’ revitalizing, re-tooling and hiring costs
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