Investment Review & Commentary 2018 Q4

The following presents a brief description of our Investment Review & Commentary 2018 Q4 developed in-house by our firm. CLICK HERE to read the full report. Please CONTACT US directly to request a copy of our current Investment Outlook & Strategy Updates.   

Investment Review & Commentary 2018 Q4 ~ Highlights

Benchmark Performance index data for the past time periods QTR, YTD, 1-YR, 5-YRS, and 10-YRS can be found on page one. 

Market Recap on page two provides review and commentary on the factors behind the global market downturn for the quarter, the one sector providing a positive return, and other noteworthy commentaries on the Fed’s continued rate increases and oil prices tanking.  

Market Outlook on pages 3-4 includes review and commentary on the Global Economy slowing, US Expansion cooling off, the Trade Tug O’war continuing, the direction of corporate earning slowing and an outlook on the  US Dollar as well as an Inflation update, plus some thoughts from Janet Yellen.

Investment Strategy & Portfolio Update In this section pages 4-5, you’ll get an update on the PSFI Asset Class Model, Stock Valuation, Cresmont’s view of P/E ratio and recent Portfolio Changes, including Small-cap, Trade, and Tariff-related Positioning, and Strategic Year-end Tax-loss Selling as well as Fixed Income Strategy.  

In PSFI News on page six are Highlights of Selected Tax Items for 2019, Charitable Giving and IRA RMD, Schwab Annual Notification of Electronic  Money Movement Authorizations on File and Changes to Personal Financial Situation.

To read the comprehensive investment report CLICK HERE.

Standard Disclaimer 

Disclosure: The Quarterly Investment Review of Parr Financial Solutions, Inc. (PFSI) expresses the views of the firm as of the date indicated.  Our views are subject to change without notice. Past performance is not an indication of future results. This commentary is being made available for educational purposes only.  The information should not be construed as an offering of advisory services or an offer to buy any securities. Certain information concerning economic trends and performance is based on information provided by independent third-party sources.  Parr Financial Solutions, Inc. believes these sources to be reliable, but cannot guarantee the accuracy of this information, or the assumptions on which the information is based. This publication may not be copied, reproduced, republished, or posted in whole or in part without prior written consent.

News and Insights



George Johns

George Johns

Financial Advisor and Director of Client Services

George holds a Bachelor of Science degree in Information Systems Management from the University of Maryland University College. He completed his financial planning studies with the College for Financial Planning in Denver, Colorado. He became a CERTIFIED FINANCIAL PLANNER™ professional in 2010.

Prior to joining Parr Financial Solutions, he spent seven years in the Private Wealth Management group of SunTrust Bank delivering comprehensive financial planning services to high net worth clients. Mr. Johns also spent several years with T. Rowe Price working with corporate retirement plans as well as individual investors.

George truly enjoys working together with clients to define, plan for and accomplish their personal planning objectives. He lives with his wife Pattie, in Hampstead, MD and is the proud father of two adult children.







Schwab Alliance Login

Schwab Alliance Login


You are now leaving the Parr Financial Solutions, Inc. website and will be entering the Charles Schwab & Co., Inc. (“Schwab”) website.

Schwab is a registered broker-dealer, and is not affiliated with Parr Financial Solutions, Inc. or any advisor(s) whose name(s) appear(s) on this website.  Parr Financial Solutions, Inc. is independently owned and operated. Schwab neither endorses nor recommends Parr Financial Solutions, Inc.  Regardless of any referral or recommendation, Schwab does not endorse or recommend the investment strategy of any advisor.  Schwab has agreements with Parr Financial Solutions, Inc. under which Schwab provides Parr Financial Solutions, Inc. with services related to your account.  Schwab does not review the Parr Financial Solutions, Inc. website(s), and makes no representation regarding the content of the website(s). The information contained in the Parr Financial Solutions, Inc. website should not be considered to be either a recommendation by Schwab or a solicitation of any offer to purchase or sell any securities.

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Privacy Policy



31 AUG 2018


At Parr Financial Solutions, Inc., we have policies and practices in place to maintain the privacy of all client information.  We believe it is critical to comply with the laws and regulations designed to secure our clients’ financial privacy.  Your relationship is very important to us, and we want you to understand our policies and practices about handling your personal information.  This privacy statement applies to our relationships with clients with whom we have a current relationship, including former clients as well as prospective clients.  Clients are notified of our privacy policy as part of our initial engagement and also by annual updates to our standard regulatory disclosure statement SEC Form ADV Part 2A.


Why do we request your personal information?

We collect information about you for identification purposes, to protect and administer your records and accounts, to help us design or improve our services, to understand your financial needs, and to comply with certain laws and regulations.  We collect and maintain your personal information so that we can provide financial advice and investment management and other services to you.


How do we gather your personal information?

We collect your personal information when you:

  • Contact us through our website
  • Contact us by telephone, or through mail or e-mail correspondence
  • Complete our initial meeting consultation form
  • Meet or participate in a video-conference with us
  • Open an account
  • Deposit funds
  • Provide financial data required for the development of a personal financial plan
  • Provide account information for analysis or investment management services


What personal information do we collect?

The types of information we may collect and maintain about you include:

  • Information we receive from you to open an account and provide services (such as your address of record, birthdate, Social Security number, telephone, financial information, and investment objectives.)
  • Information we generate to service your account or obtain from our transactions with you (such as account statements and other financial information).
  • Information on your transactions with nonaffiliated third parties.


What is our website usage privacy policy?

Our website may use “cookies” or other similar web tools to enhance your web experience that may also contain links to other websites, applications and services maintained by third parties. These tools enable us to recognize you when you return to our site, maintain your web session while you browse, as well as help us provide you with a better, more personalized experience at our firm.


Certain pages of our website contain forms that allow you to request information about our products and services. Our website also allows you to request support or ask us to update our records. In completing a form, you may provide us with contact information such as your name, email address and phone number. By submitting a form, you indicate your consent for Parr Financial Solutions Inc. to use this information. We may use the information in the forms to respond to your request and update our records so that future communication with you is accurate and appropriate.


How do we protect your personal information?

We take the security of your information very seriously.  We maintain physical, electronic and procedural controls to safeguard client records.  We have established practices that limit employee and 3rd party service provider access to information on a “need-to-know” business reason for accessing such information.  We educate our employees about the importance of confidentiality and customer privacy and take appropriate disciplinary measures to enforce employee responsibilities regarding client information.  While we follow generally accepted standards to protect personal data, no method of storage or data transmission is 100% secure.


How long is your data retained by our company and why?

Our record retention policy adheres to requirements established by the Investment Advisers Act of 1940 requiring a holding period of not less than five years from the end of the fiscal year during which the record was made.


Who do we share your personal data with?

The primary ways we may disclose your personal information, so we may provide financial and investment management services to you are:

  • When requested or authorized by you.
  • Disclosures to nonaffiliated companies as permitted by law, including those who help us service your account
  • Responding to a subpoena or other legal proceedings
  • Other limited disclosures as permitted by law; for example, required reports to government entities
  • If you terminate your relationship with us, we will continue to adhere to our privacy policies and practices.


Who has access to your personal data?

Third parties we use to provide support services are not permitted to use information about our clients for their own purposes. Nonaffiliated parties are contractually obligated to use such information only to perform the services we request and to otherwise maintain strict confidentiality of such information.  We will never rent or sell your personal information to third parties for marketing purposes.



What information may we disclose about you?

Sometimes it may be necessary for us to discuss financial matters on your behalf with other professionals on your team such as your estate attorney, CPA, insurance specialist, or other financial service companies.  When the need arises, we will ask for your permission.


How can I opt-out of communications from Parr Financial Solutions Inc.?

Please contact us if you would like to opt-out of further communications from our firm.  We will respect your privacy and remove you from our distribution list.


Please contact our firm if you have questions about our Privacy Policy.


Christopher P. Parr, CFP®

President and Chief Data Protection Officer

TEL: 410-740-9011




Disclosure Statement

Disclosure Statement

Parr Financial Solutions, Inc. (“PFSI”) is a registered investment advisor located in Columbia, Maryland. PFSI and its representatives are in compliance with the current registration requirements imposed upon registered investment advisers by those states in which PFSI maintains clients. PFSI may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements.

PFSI website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications and links. Accordingly, the publication of PFSI’s web site on the internet should not be construed by any consumer and/or prospective client as PFSI’s solicitation to effect or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the internet. Furthermore, the information resulting from the use of tools or information on this internet site should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from PFSI.

Any subsequent, direct communication by PFSI with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of PFSI, please contact the state securities law administrators for those states in which PFSI is registered.

PFSI does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to PFSI’s web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. This website should not be viewed as a solicitation or offer of services in any jurisdiction in which the advisor is not qualified to do business.

Past performance may not be indicative of future results.  Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by PFSI), will be suitable, profitable, or equal any historical performance level(s) for a client or prospective client’s investment portfolio. Historical performance results for investment indices and/or portfolio benchmarks generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an advisory management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.

Certain portions of PFSI’s web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of and/or provide access to, PFSI (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendations(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from PFSI, or from any other investment professional. PFSI is neither an attorney nor an accountant, and no portion of the website content should be interpreted as legal, accounting or tax advice.

PFSI does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information or financial calculators prepared by any unaffiliated third party, whether linked to PFSI’s web site or incorporated herein and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Electronic mail (e-mail) submitted to this Website should be considered neither secure nor confidential since messages submitted to this site travel through the internet, which is not a secure medium. PFSI makes no representation whatsoever concerning the security or confidentiality of your e-mail messages and specifically makes no representation that PFSI will receive any e-mail messages submitted through this Website.

Each client and prospective client agrees, as a condition precedent to his/her/its access to PFSI’s website, to release and hold harmless PFSI, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from PFSI.

Company History

Company History

Christopher P. Parr, President, and Founder, scribbled a rough business plan to start a financial advisory practice on a scratch pad while attending a “Thinking of Going into Business” seminar sponsored by the SBA in 1990.  After spending a decade in corporate finance, wading through the challenges of five mergers, he had become disenchanted with the large corporate world and decided to take control of his own destiny.

He founded PARR Financial Solutions in January 1992. The firm initially provided strategic planning, forecasting, and MIS consulting services to corporate clients. Personal fee-only financial planning and investment advisory services were added in 1993 when Mr. Parr attained the CERTIFIED FINANCIAL PLANNER™ (CFP) certification and joined the National Association of Personal Financial Advisors (NAPFA).

In order to achieve economies of scale, Parr Financial Solutions merged into Financial Advantage, Inc. (FAI), another fee-only financial advisory firm, in 2001.  Mr. Parr became a principal and Chief Operating Officer of the firm.  During his tenure, FAI increased assets under management from $66 million to $230 million, and according to the publication Wealth Manager consistently ranked in the top 250 independent financial advisory firms in the country.

In 2009, Mr. Parr made a strategic business decision to separate from FAI and to launch his own firm once again. The transition to Parr Financial Solutions, Inc. was completed seamlessly on September 30, 2009.






Christopher P. Parr

Christopher P. Parr

CEO and President

Christopher Parr, CEO and President, holds an MBA degree in finance from Loyola College in Maryland, earned his BA degree in economics from Western Maryland College, and is a graduate of the College for Financial Planning in Denver, Colorado. His professional career started in commercial banking in 1980. He became a CERTIFIED FINANCIAL PLANNER™ (CFP) professional in 1993.

Christopher Parr has been selected four times by Worth magazine as one of the nation’s “250 Best Financial Advisors.” He was also selected four times by Medical Economics magazine as one of the nation’s “150 Best Financial Advisors for Doctors.” Mr. Parr has over 35 years of financial services industry experience and has been an owner in a fee-only financial advisory firm for the past 20+ years.

Mr. Parr is a member of the National Association for Personal Financial Advisors (NAPFA), the leading professional association for fee-only financial advisors. He chaired both hearing and grievance panels as a member of NAPFA’s Ethics Committee, and periodically makes presentations to regional and national gatherings of financial professionals and the public.

Mr. Parr has written articles for several national publications. He is co-author of Inside the Minds: Building a $1 Million Nest Egg, published in 2002 by Aspatore Books. He has been quoted by the BBC, Bloomberg Wealth Manager, Financial Advisor, Fox Business News, Investment News, Investor’s Business Daily, Forbes, Black Enterprise, Kiplinger’s, Medical Economics, Physicians Financial News, Financial Planning,the Baltimore Sun, the Chicago Tribune, Palm Beach Daily, the Wall Street Journal and the Washington Post.

Mr. Parr is past chair of the Howard County Pension Oversight Commission where he was appointed by successive County Executives, approved by the County Council, and served 2 voluntary 5-year terms from 2004 -2013. The Commission is responsible for monitoring the combined pension plans of the Howard County Employee Pension Plan and the Howard County Police and Fire Employee Pension Plan. During his watch, the plans grew from $270 million of combined assets to over $650 million in assets.

Past community service projects include the Howard County Board of Family & Children’s Services, the American Red Cross of Howard County Board, and past chair of his church finance committee. He also provides pro bono financial counseling and served as advisor to a nonprofit organization dedicated to helping the homeless become self-sufficient.

About Us

About Us

Parr Financial Solutions – A Fee-Only Financial Advisor

  • Mission

    As a fee-only financial advisor, Parr Financial Solutions’ mission is to help our clients achieve long-term financial security, peace of mind, and a higher quality of life.  We place the needs of our clients first and adhere to the highest standards of quality, integrity, and professionalism.

  • Christopher P. Parr

    Selected four times by Worth magazine as one of the nation’s “250 Best Financial Advisors.” Selected four times by Medical Economics magazine as one of the nation’s “150 Best Financial Advisors for Doctors.”

  • Company History

    Early predecessor, Parr Financial Solutions, was formed in 1992, initially providing corporate financial consulting services…