Category Archives: Clients/Clients Only

Q 4 Quarterly Review Cover Letter – Private Policy

There is a very old, well known, Wall Street saying that goes something like this.

“The stock market will always climb a Wall of Worry!”

Oddly there are two themes that are conveyed in this saying.

  1. The obvious, a wall of worry creates enough doubt for capital markets to operate efficiently and rise
  2. The less obvious, when everything is clear and the sun is shining, sometimes it’s near the end of the expansionary times and happy capital markets.

As fast as this year went, our memories are still very clear on what capital markets look like just twelve months ago.

In chicken little like fashion the sky was falling, Capital Markets, and participants were throwing a giant hissy fit, and the federal reserve was cranking up interest rates to participants dismay.

With 2020 hindsight, a nice wall of worry was created.

With earnings being the ultimate driver of capital markets, a drop in earnings, a recession, or global slow down, would lead to the decline in capital markets but for now we certainly don’t have to worry about item two above in that old wall street saying.

Speaking of recessions, be sure to review the capital market article in our Q1 2020 Newsletter, concerning the lowering of rates while the inverted yield curve – a much talked about by us event, and somewhat disdained. As mentioned in the newsletter we ran across this information mid quarter, and certainly must acknowledge the history brought up by the speaker and his chart, which may avert a recession, at least for now

Also in the newsletter two, two -part personal financial planning articles, one dealing with inheritance and another dealing with automobiles that you may find interesting as these topics were repeated in our office throughout the final quarter of the year and made for a great subject.

Thank you for your time, thanks for reading our blog posts, newsletter and YouTube videos, we enjoyed bringing you all original, somewhat rough at times information as we see it through our eyes!

In Closing

Your Fourth Quarter summary is enclosed on the front page of this report we have included our most recent investment allocation from your Investment Policy Statement. This is also the time we attach our Private Policy Statement for the year along with our opportunity to offer our latest ADV filings; Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.


John A. Kvale CFA, CFP

Enclosure (2019 Report, Private Policy)


J.K. Financial, Inc.


Our Promise to You

As a client of J.K. Financial, Inc., you share both personal and financial information with us.  Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.

Information Provided by Clients 

In the normal course of doing business, we typically obtain the following non-public personal information about our clients:

  • Personal information regarding our clients’ identity such as name, address and social security number;
  • Information regarding securities transactions effected by us; and
  • Client financial information such as net-worth, assets, income, bank account information and account balances.

How We Manage and Protect Your Personal Information

We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law

In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information.  Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.

Client Notifications

We are required by law to annually provide a notice describing our privacy policy.  In addition, we will inform you promptly if there are changes to our policy.

Please do not hesitate to contact us with questions about this notice.







A True Yogi Berra saying may be fitting now – It’s like déjà vu all over again!”

Tariffs and Trade War Talks Continue

While the tariff banter seems relentless and every day changing, leading to Capital Market bipolar movements, one day irrational exuberance, and the next day irrationally depressed, as mentioned in our Q4 Newsletter, tariff talk has been going on for decades. With today’s constant bombardment of immediate news stories and short clips it seems, present party included, to be constant and all encompassing. The reality is this likely will work itself out, just as seen in the graph in the newsletter. Our bet is once the tariff talk turns into tariff agreements, we will see market relief and higher overall interest rates. For now, there’s no doubt that the tariff talk is slowing the global economy and there is no envy for public company managers trying to navigate the possible changes that occur on a day by day basis, making it very tough to stock inventory and make purchases.

Treasury Rates- Interest rate cycle

Given the afore mentioned Tariff Talk, FOMC (Federal Open Market Committee) led by chief Jerome Powell and a company have embarked on a lowering of rates, twice to be exact, but only two .25 basis points each, in an attempt to help ease interest rate burdens and spur the economy. While not huge fans of the lowering of rates at this time due to gun powder needs at a future, when the inevitable recession occurs, at this time it appears we are on an interest rate decrease path, a complete 180° turn from just one year ago, when reserve officials were raising. If there is an agreement in Tariff talk, lowering of rates would likely stop, and we might even hear talks of raising, making for an interesting rate cycle. Time will tell.

Taxes or the savings of taxes paid

As we head into the final quarter of the year it’s time to make sure we’ve done all we can do for this years’ , especially items that have no look back features. As also mentioned in our Q4 newsletter, be sure to max those 401(k)s, contribute or distribute from 529‘s, complete Required Minimum Distributions (RMD’s) and make sure those charitable giving are complete this year, as all of these items have a hard stop year-end deadline.

Have a great day and start to fall!


John A. Kvale CFA, CFP

Enclosure 2019 Report

SLOA Notice Mailing today – What? (Clients Only) No Action Needed – Just a Heads Up in Advance!

Today, annual mandatory mailings for SLOA – (Standing Letter of Instructions) are being mailed via snail mail..

SLOA’s are any instructions on file to transfer/move money from one account to the other.

Linked accounts are titled similarly and examples include  … linking from a Bank or checking account, savings account, or even linking to multiple investment accounts such as an IRA or other type of internal account.

Letter looks like this … just FYI



No Action is required by you…. this is just a heads up for confusion purposes!

Have a Great “SLOA Notified” Day – Is that a word? HAHA

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

Behind the Curtains of our Writings (Readers/Followers/Clients)

Recently we’ve had several back-of-the-hand (accidental – but very nice) compliments which we greatly appreciated …..

Multiple sources have asked if we ever sleep? Mostly due to the amount of content that we write … a Quarterly Newsletter, Newsletter Videos, Monthly Review Videos along with a Post, and most of all, three times a week (MWF @ 10:30 AM) here on our Blog….

A while back we posted “Why we do our Blogs” to a wonderful reception … so here is a peek behind the curtains!

How We Do Our Blog Postsimg_5440

The secret in our case, is one word – Dictation!

This blog post is literally being composed on a weekend walk with the dog, early in the morning, post Java enhanced brain, on a rainy day.

About 3/4 of our Posts here, almost all of our Reviews,  and our Newsletters Articles for that matter, are dictated.

There are hick-ups – as dictation can sometimes put the incorrect phonetically word, which is very easy to miss.

For those that are going to try this themselves – as mention above, this post is being dictated directly to WordPress – our blog platform, but here are a couple of tips on what platforms we have found receive dictation the best.

Microsoft Word is not very dictator friendly, one of the best dictator friendly applications are the notes section in your phone, be careful if you (or a linked family member) text sailor comments occasionally to your friends, your Iphone  will bring up sailor comments in your dictations – be sure to double check.

There is always final clean up that needs to be done, the current corrections on this post at this time are being done from the Laptop … with multiple different time reviews as the aforementioned phonetic mistakes are really darn hard to catch.

Again thanks for the ultimate comment; “Do we ever sleep?” That makes us feel good, we appreciate everyone taking the time to read our material as we really work hard, and give it a lot of thought which also helps us with clarity, and gives us living memoirs.

Hope You Enjoyed Behind the Curtains of Our Writings – Give it a try yourself!

Have a Great “Fun Writings” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

From Party Last Night ..Walk Down Memory Lane Video … Fun Pics – Friday

This video was playing throughout the elevator monitors during the party last night…audio is neat if you are in a place to listen!

Some great memories – 24th year of party, 30th year in the business….

Thanks so much to all, especially those that traveled far to come, we hope you enjoyed it as much as we did seeing everyone and visiting.

A Few Pictures as well !

This slideshow requires JavaScript.

Time Goes Fast…. All Good!

Have a Great “Walk Down Memory Lane” Friday!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.



Perot Parking Directions – Better Lucky Than Good, A Totally New Exhibit Opened Two Days Ago – Fox 4 News Preview Interview …

Its a little tricky getting to the parking lot, but we have our own private lot that is the closest we could possible get to the actual museum…. Here is a reminder for those coming tonight:

perot invite_Page_1

Better Lucky and Good

We were told a new exhibit would POSSIBLY be open by the time our party occurred… Guess What?

It opened two days ago.. as seen in this neat interview from Dallas Fox 4 News….

See you guys tonight!

John A. Kvale CFA, CFP


Email Address is the New Home Mailing Address – Why the Restrictions Associated with Changes!

In the good old days our physical home address was the most important item for delivery of mail and physical identity. Not sure if your mailbox is like many, but for the most part paper delivery is WAY down and expected that in the next few years many entities (Credit Card, Mortgage, Paychecks… any kind of monthly statement) will completely discontinue options for paper delivery …. this is a much greener approach, and will certainly help our environment – we know it may be uncomfortable for some, but likely inevitable!

Email address replaces Home Address – Our Collective Responsibilitiesicons-157872__480 email address

Given the above mentioned facts, with our email address now been our most likely contact … similar to our physical address in the good old days, new restrictions for our collective security are welcomed, needed, and expected.

It’s for our own collective safety that to change an email address on a delivery should be more secure!

In today’s more secure and safe environment for us to change an email address on your information we will now need to submit a signed document – ok … it’s a bit of a pain, and in the good old days when delivery was mostly to our physical address we could do it for you – but that was as they say … the good old days.

With 95% of our clients receiving all of their information completely electronically we feel like we are the norm, and accept the new responsibility but slightly more challenging changes to our electronic delivery.

Docusign Anyone ? More to come on this soon!

Just a heads up in advance,  when we change our email there will be additional documents for our collective security to make the change.

We will make it super easy, but there will be an extra step.

Sorry for the hassle but again certainly for our collective security!

Have a Great ” Email is New Home Address” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

RSVP Reminder to Holiday Party/Perot Event .. It’s Less than Two Weeks Away .. YAY – Friday

We are extremely happy to see all of you at the Holiday Party Thursday November 14th at 6:30 PM at the Perot Museum….

The more the merrier… we have a big showing so far… BUT…

We have PLENTY of room, so don’t be shy…

If you want to come, and have a family member, or close friend that wants to come…

TODAY IS THE RSVP DEADLINE (we have some flexibility – if you read this past the deadline, reach out)


Hit to reserve your spot… we want to see you there…

And now the carrot …

Have a Great Friday!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.