Proffitt & Goodson, Inc.

04/02/2026

It happens more often than most people expect.

A portfolio built through years of disciplined stock selection begins to take shape. Over time, one position grows, often quietly, until it represents a meaningful share of total wealth.

At that point, the conversation shifts.

The instinct may be to sell and diversify. In a taxable environment, that decision can carry unintended consequences. The more thoughtful path is often more measured, reducing exposure over time, coordinating gains and losses, and introducing strategies designed to manage downside risk while preserving what has been built.

Concentration can be a powerful driver of growth. It requires equal care when the time comes to transition.

If a single position has come to define a large portion of your portfolio, it may be worth taking a closer look at how that risk is being managed.

03/26/2026

A prospective client came to us with something most advisors dream about: decades of successful stock picking.

The problem? One position had grown to over 40% of their entire portfolio.

The question was not whether to act, but how to do so with intention.

A full exit would have created a significant tax burden. Instead, we took a more measured approach. We harvested losses to offset gains, reduced the position at a level aligned with the client’s comfort, and reinvested proceeds into a more balanced allocation. For the remaining exposure, we layered in downside protection to help manage risk without disrupting long-term growth.

The result was not just a portfolio adjustment. It was a move toward greater alignment, preserving what had been built while creating a more durable path forward.

Not every decision calls for a dramatic shift.

Often, it calls for discipline, perspective, and a clear understanding of what matters most.

03/05/2026

Certain payment requests should always trigger a pause.

Requests involving gift cards, cryptocurrency, wire transfers to unfamiliar accounts, payment apps to strangers, or cash are common fraud tactics. These methods are difficult or impossible to reverse once sent.

Another helpful habit is verifying requests using two different channels. If a message comes through email, confirm it by phone. If it comes by phone, verify it through a separate number. Never rely on contact information provided in a suspicious message.

When something feels off, reaching out before taking action can help prevent costly mistakes. A short pause and a second check can make a meaningful difference.

03/03/2026

Scammers often rely on urgency to push people into acting quickly.

That is why using a family safe word can be so effective.

A safe word is a private phrase shared only with close family members and trusted individuals. Any urgent request for money should include that word.

If it does not, the best move is to pause, hang up, and contact the person directly using a known phone number. This simple habit can stop fraud attempts that sound convincing and emotional in the moment.

It may feel unnecessary until it is not. Setting this up in advance removes guesswork and gives families a clear way to slow things down when pressure shows up unexpectedly.

02/26/2026

One of the simplest and most effective fraud prevention steps is keeping a trusted contact on file.

This is someone we may reach out to if we notice unusual activity or if we are unable to get in touch with you. It does not give that person access to your accounts or decision making authority.

It simply adds another layer of awareness.

Life happens. People travel, phones get missed, and messages go unanswered. Having a trusted contact allows for an extra checkpoint when something does not look right. For many households, this step brings clarity without adding complexity.

We encourage clients to choose one or two individuals they trust and review this information regularly. It is a small step that can help prevent larger issues down the road.

02/24/2026

In recent years, fraud has increased sharply, driven in part by tools that can imitate voices, emails, and even trusted institutions.

In 2024 alone, Americans reported more than $16 billion in fraud losses, which shows just how widespread this issue has become.

The encouraging part is that most scams can be stopped with simple safeguards.

The key is knowing what to look for and having a plan before something suspicious happens. Verifying requests, slowing down urgent messages, and using multiple ways to confirm information can help reduce risk significantly.

These conversations are an ongoing part of how we help households stay protected. Awareness and preparation go a long way.

02/23/2026

If you built a 60/40 portfolio a few years ago, it may not look the same today.

In 2019, a mix of 60% global equities and 40% fixed income was a common allocation. Fast forward to 2026, and that same portfolio could now be sitting closer to 77% equities and 23% fixed income, simply due to market performance.

This is called portfolio drift. It happens gradually when one asset class outpaces another over time.

Strong equity returns are certainly welcome. But without periodic rebalancing, your allocation can shift beyond what you originally intended, potentially increasing overall risk.

Regular reviews help maintain discipline and keep your investment strategy aligned with your long term objectives, rather than letting market momentum make the decisions for you.

02/19/2026

Protecting your wealth today looks very different than it did even a few years ago.

Scams are no longer limited to obvious emails or suspicious phone calls. With technology evolving quickly, fraud has become more convincing, more personal, and harder to spot in real time.

That is why we focus on practical steps that households can actually use.

At ProffittGoodson, we regularly walk through simple safeguards with our clients that help add extra layers of protection.

These steps are meant to slow things down, create verification, and reduce pressure in moments when decisions feel urgent.

Fraud often succeeds when people feel rushed or isolated, and a few clear processes can make a real difference.

07/05/2023

A tax designed for high earners is increasing the tax bill of more Americans each year.

The net investment income tax (NIIT) is a 3.8% surtax on investment income. 3.8% may not seem like much, but this additional tax can add up quickly over time or put a dent in a high-income year. While this tax only affected 3 million tax returns in 2013, the IRS estimates that over 7 million tax returns owed NIIT in 2021.

Why are more Americans paying the NIIT now?

The income threshold for the NIIT has not been adjusted for inflation since its creation in 2013. Single filers with over $200,000 in modified adjusted gross income (MAGI) and joint filers with over $250,000 in MAGI may be subject to NIIT.

Favorable stock market returns over the past two decades have left investors with both more dividends and capital gains than before.

Careful tax and income planning can help reduce the change NIIT affects your situation.

The Wall Street Journal discusses more about the NIIT here:

The net investment income tax is coming due for millions more taxpayers than a decade ago. That’s no accident.

07/03/2023

The U.S. stock market has become increasingly concentrated in the largest names. However, it’s normal for a narrow sleeve of companies to carry market returns.

A well-diversified portfolio can increase the likelihood of being allocated to the few top performers, leading to more manageable outcomes over time.

The U.S. stock market has become increasingly concentrated in the largest names. However, it’s normal for a narrow sleeve of companies…

05/16/2023

Personal tax provisions in the Tax Cuts & Jobs Act are set to expire in 2025. This expiration will affect most taxpayers and includes changes to personal income tax rates and brackets, the standard deduction, and itemized deductions.

Personal tax provisions in the Tax Cuts & Jobs Act are set to expire in 2025. This expiration will affect most taxpayers…