SBA Updates to the Paycheck Protection Program Loan Guidance

SBA Updates to the Paycheck Protection Program Loan Guidance

 

LUTZ BUSINESS INSIGHTS

 

SBA Updates to the Paycheck Protection Program Loan Guidance

SBA Updates to the Paycheck Protection Program Loan Guidance

On June 22nd, 2020, the SBA provided updated guidance to the Loan Forgiveness Interim Final Rule. This new PPP guidance contains the following key updates:

Flexible Covered Period Option

A borrower may submit a loan forgiveness application any time on or before the maturity date of the loan – including before the end of the covered period – if the borrower has used all of the loan proceeds for which the borrower is requesting forgiveness. If the borrower applies for forgiveness before the end of the covered period and has reduced any employee’s salaries or wages in excess of 25%, the borrower must account for the excess salary reduction for the full 8-week or 24-week covered period.

S-Corp Owner Retirement Contributions Allowable

S-corporation owner-employees are capped by the amount of their 2019 employee cash compensation and employer retirement contributions made on their behalf. However, employer health insurance contributions made on their behalf cannot be separately added because those payments are already included in their employee cash compensation.

FTE Reduction Safe Harbor Date

The date on which borrowers need to have eliminated any reduction in salary/hourly wage greater than 25% or reduction in FTEs (Reduction Safe Harbor dates) has been updated to “anytime on or before December 31st, 2020.”

C-Corp Owner Compensation Clarified

C-corporation owner-employees are capped by the amount of their 2019 employee cash compensation and employer retirement and health insurance contributions made on their behalf.

If you have any questions, please contact your Lutz representative or email us at ppploan@lutz.us.

Updated 6/25/2020

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Investment Fund Expenses Declined Last Year + Financial Market Update + 6.23.2020

Investment Fund Expenses Declined Last Year + Financial Market Update + 6.23.2020

FINANCIAL MARKET UPDATE 6.23.2020

AUTHOR: JOSH JENKINS, CFA

STORY OF THE WEEK

INVESTMENT FUND EXPENSES DECLINED LAST YEAR

Each year an analysis of expenses charged by the fund industry is published by the investment research firm, Morningstar. The most recent version of this report was published earlier this month, and it revealed a few positive trends that benefit investors. Below are some highlights from the report and a few reasons why they are important.

Fund Expenses are Trending Lower

Fund expenses have steadily declined for nearly 20 years as competition in the fund industry has increased, and passive investing has grown in popularity (among other reasons). There are a handful of ways to look at expenses. A few of the common approaches are illustrated in the chart below. Nearly all of the methods yield the same result: fund expenses fell to the lowest level on record last year.

  • The equal-weighted average expense on all funds fell from 1.03% to 1.01% in 2019.

  • If you weight by assets, which provides a more accurate view of what investors actually paid, the average expense declined from 0.48% to 0.45%. For context, 0.45% is roughly half of the asset-weighted average expense in 1999 (0.87%).

  • The asset-weighted average expense fell from 0.68% to 0.66% among active funds and fell from 0.14% to 0.13% among passive funds. 

Assets are flowing from High to Low-Cost Funds

The pattern of fund flows has shifted dramatically over the last five years. Investors have been dumping high-cost active funds at a rapid pace in favor of lower-cost funds. While the cheapest quintile of active funds continues to attract assets, the majority of dollars have moved into passive. Overall, 93% of the $581 million of net new money in 2019 landed in the cheapest 10% of funds.

Why These Trends Matter

The benefit of a decline in fund expenses does not require much explanation. Money not paid to fund providers remains in the portfolio and compounds over time. The flow of money into the lowest cost options is also a positive development. Investors often rely on performance when evaluating potential investment options, selecting the fund(s) that have generated the highest returns in the past. The expectation is that the previous winners will keep winning, although, in reality, they are just as likely to start losing. Studies have shown that past returns are not indicative of future performance, while fund expenses are among the most reliable indicators(1). As a result, investment outcomes are likely to improve on average as money flows into cheaper alternatives.

At Lutz Financial, keeping costs low is one of the core tenets of our investment philosophy. To accomplish this, we use an array of tools at our disposal to monitor the landscape consisting of thousands of fund options regularly. Doing so ensures our clients benefit from the tailwind provided by these trends.

1 Financial Research Corporation, 2002. Predicting Mutual Fund Performance II: After the Bear.

WEEK IN REVIEW

  • The S&P 500 index gained just under 2.0% last week, partially rebounding from a nearly 5% decline from the week prior. It is now down roughly 2.5% in 2020.
  • Last week, the Conference Board published its monthly Index of Leading Economic Indicators (LEI). The index is comprised of 10 metrics that are intended to signal turns in the business cycle. After two sharply negative prints in March and April, the LEI turned positive in May. While May’s gain is nowhere near large enough to recoup the previous declines, its uptick is a positive sign for the economy.
  • Notable economic data releases still to come this week include new orders for long-lasting goods in May, an update on initial jobless claims (a proxy for layoffs), consumer spending, and inflation. See the Economic Calendar for more detail.

HOT READS

Markets

  • May U.S. Home Sales Dropped 9.7% as Pandemic Kept Shoppers Indoors (WSJ)
  • Global Economy Shows Signs of Pulling Out of Its Slump (WSJ)

Investing

  • Invest With The Upper Crust and Sometimes You just Get Crumbs (Zweig)
  • The Latest Memo from Howard Marks: The Anatomy of a Rally (Oaktree Capital)
  • Beware: ‘Zombie ETFs’ Lurking (ETF.com) The importance of ETF Due Diligence

Other

  • The Credit Card-Fees Merchants Hate, Banks Love and Consumers Pay (WSJ)
  • Sources: MLB Targets 60-Game Season Starting Around July 24, Assuming Conditions Met (ESPN)

ECONOMIC CALENDAR

Source: MarketWatch

MARKETS AT A GLANCE

Source: Morningstar Direct.

Source: Morningstar Direct.

Source: Treasury.gov

Source: Treasury.gov

Source: FRED Database & ICE Benchmark Administration Limited (IBA)

Source: FRED Database & ICE Benchmark Administration Limited (IBA)

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ABOUT THE AUTHOR

402.763.2967

jjenkins@lutz.us

LINKEDIN

JOSH JENKINS, CFA + SENIOR PORTFOLIO MANAGER & HEAD OF RESEARCH

Josh Jenkins is a Senior Portfolio Manager & Head of Research at Lutz Financial with over nine years of investment experience. He is responsible for assisting clients in the construction, selection, and risk assessment of their investment portfolios. In addition, Josh will provide on-going research and trade support.

AREAS OF FOCUS
  • Asset Allocation & Portfolio Management
  • Investment & Market Research
  • Trading
AFFILIATIONS AND CREDENTIALS
  • Chartered Financial Analyst (CFA)
  • Chartered Financial Analyst Institute, Member
  • Chartered Financial Analyst Society of Nebraska, Member
EDUCATIONAL BACKGROUND
  • BSBA, University of Nebraska, Lincoln, NE

P: 402.827.2300 | F: 402.827.2319 | E: contact@lutzfinancial.com | 13616 California Street | Suite 200 | Omaha, NE 68154

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Benefits of Medicare Interim Cost Report Template for Critical Access Hospitals

Benefits of Medicare Interim Cost Report Template for Critical Access Hospitals

 

LUTZ BUSINESS INSIGHTS

 

Benefits of Medicare Interim Cost Report Template for Critical Access Hospitals

Benefits of Medicare Interim Cost Report Template for Critical Access Hospitals

Julianne Kipple, Healthcare Director
Katie Roberts, Healthcare manager

The Medicare cost report has a material financial impact on Critical Access Hospitals (CAHs). Significant changes in hospital utilization, expense swings or changes in service lines can result in large settlements. Cost reports are typically not due until five months after the end of the fiscal year. An interim cost report template can be done monthly or quarterly with financial statements. The template enables the facility to have knowledge of the cash flow and financial impact of the cost report as the fiscal year progresses. It also gives management the ability to provide board members with more accurate monthly financial statements as the cost report journal entry would be included in contractual adjustments.

 

Cash Flow Planning

CAHs typically do not have high days of cash on hand. The interim template allows facilities to anticipate the Medicare settlement as early as possible to help with cash flow management. Waiting until after year-end to calculate the cost report settlement is not ideal as decisions made earlier in the year may have been affected if the amount of the cost report settlement had been known earlier. 

 

Interim Settlement and Rate Changes

Preparing an interim cost report template allows CAHs to compare current reimbursement rates from Medicare to current calculated rates. If the CAH has an excellent start to the fiscal year and revenue has increased while expenses are holding steady, it is likely reimbursement rates are too high, and the CAH has a cost report payable. The template can be used to request a rate adjustment or interim settlement from MACs.

Rates can be adjusted to reduce the payable or receivable before the end of the year. For example, instead of paying a large lump sum at the end of the year, a CAH can slowly reduce the reimbursement received from Medicare and better manage cash flow. The same is true if the opposite has occurred, CAHs can request a rate increase to improve reimbursement during the year from Medicare instead of waiting to get a large check after year-end.

 

Service Line Analysis and Projections

An interim cost report template can be adjusted and recalculated for any anticipated service line changes or projects. Many facilities use templates during strategic planning. For example, a CAH can analyze a potential new service line to see the impact it has on the cost report. The analysis provides the ability for more in-depth decision making on whether the service line is a good fit for the facility from a reimbursement perspective. Moving forward, a hospital can also see in real-time the impact of the new service line on reimbursement.

 

Building Projects

If a CAH is contemplating a new building project, a template is a very useful tool. Calculating the square foot changes the new project may cause, the additional depreciation and interest expense can all be factored into a template to see the impact the new building project may have on the cost report and reimbursement from Medicare in the future. This analysis should be done at the architectural planning phase of the project to ensure there are no unanticipated negative impacts on Medicare reimbursement.

 

Non-Reimbursable Cost Report Center Analysis

Templates can be used to review non-reimbursable departments in a facility. Many times, the non-reimbursable department’s impact on the cost report is not immediately obvious when looking at the face of a cost report. By taking out the costs and other figures tied to the non-reimbursable and recalculating the template, a facility can see what the impact of the non-reimbursable department has on Medicare reimbursement. 

 

COVID-19 Impact and Planning

As the country is trying to navigate these unprecedented times since the COVID-19 virus has hit communities and affected business, the Medicare interim cost report template has become increasingly important to manage reimbursement rates and cash flow better. As revenue declines due to the virus and expenses are unchanging or even increasing, it is likely reimbursement rates are too low. Cash is going to continue to be vital as hospitals try to prepare for the unknown future impact of COVID-19.

We suggest that cost report estimates are done monthly rather than quarterly to better estimate the large impact COVID-19 is having on a facility’s revenue. More cost report guidance is anticipated to be issued on how to handle the substantial amount of HHS funds and PPP loans that CAHs have received. If CMS decides that an adjustment to remove the expenses reimbursed by the HHS funds or the PPP loan is necessary, it could have a large negative impact on the cost report settlements. 

A template allows CAHs to adjust off expenses in the weeks after CMS makes their decision to quickly see the impact that adjustment will have on reimbursement and, ultimately, the settlement. The amount of time a CAH needs to obtain that knowledge will influence how the facility financially pilots through this pandemic. 

If you do not currently have a cost report estimate template and you are interested in having an interim cost report template setup for your monthly financial statements and planning, please contact us or call at 402-496-8800.

ABOUT THE AUTHOR

julianne kipple

402.827.2075

jkipple@lutz.us

LINKEDIN

JULIANNE KIPPLE + HEALTHCARE DIRECTOR

Julianne Kipple is a Healthcare Director at Lutz with over 10 years of professional experience in the healthcare industry. Her expertise is in accounting and consulting services for healthcare facilities, including outsourced CFO services, Medicare and Medicaid reimbursement, and Medicaid Disproportionate Share Surveys (DSH).

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • Healthcare Financial Management Association, Member
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Certified Healthcare Financial Professional
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, with high distinction, Creighton University, Omaha, NE
  • MBA, Creighton University, Omaha, NE

402.821.2351

kroberts@lutz.us

LINKEDIN

115 CANOPY STREET

SUITE 200

LINCOLN, NE 68508

KATIE ROBERTS + HEALTHCARE MANAGER

Katie Roberts is a Healthcare Manager at Lutz with over four years of experience in accounting. She is responsible for providing accounting and consulting services to healthcare organizations with a focus on outsourced CFO services and reimbursements.

AREAS OF FOCUS
  • Accounting & Consulting
  • Outsourced CFO Services
  • Reimbursements
  • Medicare Cost Reports
  • Healthcare Industry
AFFILIATIONS AND CREDENTIALS
  • Nebraska Society of Certified Public Accountants, Member
  • Healthcare Financial Management Association, Member
  • Certified Public Accountant
  • Certified Healthland Financial Professional
  • Certified Revenue Cycle Representative
EDUCATIONAL BACKGROUND
  • MPA, University of Nebraska, Lincoln, NE

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OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

115 Canopy Street, Suite 200

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

CPT Code Modifiers: Clarification of Commonly Used and COVID Updates

CPT Code Modifiers: Clarification of Commonly Used and COVID Updates

 

LUTZ BUSINESS INSIGHTS

 

CPT Code Modifiers: Clarification of Commonly Used and COVID Updates

cpt code modifiers: clarification of commonly used and covid updates

kim kaye, healthcare consulting senior

 

There are many circumstances when coding more than one Current Procedural Terminology (CPT) code on the same encounter that clarification is needed regarding whether to use modifier 25 or 59. Should it be added to the Evaluation and Management (E/M) visit or the procedure code? Which modifier goes on which code? Here is the answer: Use the 25 modifier for the E/M codes and the 59 modifier for the procedure codes.

 

MODIFIER 25 AND 59

Modifier 25 is used for “a significant, separately identifiable evaluation and management service by the same physician or other qualified health care professional on the same day of the procedure or other service.” For example, a patient arrives at the doctor’s office for a biopsy of a skin lesion, and during the visit, the patient also asks the physician for a prescription for an upper respiratory infection. The modifier would be appended to the E/M code for the supported diagnosis of upper respiratory infections.

Under certain circumstances, it may be necessary to indicate that a procedure/service was distinct or independent from other non-E/M services performed on the same day. Modifier 59 is used to “identify procedures or services, other than E/M services, that are not normally reported together, but are appropriate under the circumstances.” A different session, procedure or surgery, site or organ system, incision/excision, lesion, or injury must be documented. Only if no more descriptive modifier is available may modifier 59 be used.

An example of the appropriate use of the 59 modifier: A physical therapist performed both CPT code 97140 – Manual therapy techniques (e.g., mobilization/manipulation, manual lymphatic drainage, manual traction), on one or more regions, each 15 minutes, and 97530 – therapeutic activities, direct (one on one) patient contact by the provider (use of dynamic activities to improve functional performance), each 15 minutes in the same visit.

Normally these procedures are considered inclusive. If the 59 modifier is appended to either code, they will both be allowed on the claim separately. However, the 59 modifier should only be added if the two procedures are performed in distinctly separate 15-minute intervals. If the therapist performs the procedures simultaneously, then the 59 modifier should not be used.

 

Public Health Emergency Special Modifiers

How to bill appropriately for services related to COVID-19 is a high priority for most healthcare entities. Described below are examples of the more common modifiers used during the Public Health Emergency (PHE).

As a result of this PHE, apply the following to claims for which Medicare payment is based on a “formal waiver” including, but not limited to, Section 1135 or Section 1812(f) of the Act:

  1. The “DR” (disaster-related) condition code for institutional billing, i.e., claims submitted using the ASC X12 837 institutional claims format or paper Form CMS-1450.
  2. The “CR” (catastrophe/disaster-related) modifier for Part B billing, both institutional and non-institutional, i.e., claims submitted using the ASC X12 837 professional claim format or paper Form CMS-1500 or, for pharmacies, in the NCPDP format.
  3. Modifier “95” (Synchronous Telemedicine Service Rendered via Real-Time Interactive Audio and Video Telecommunications System) may also be appended but is not required. When billing a telemedicine service (using modifier 95) and another service that requires modifier 25 to be used in addition, the general rule is to report the “payment” modifier before any other descriptive modifier. Since both modifier 25 and 95 can impact payment, list modifier 25 first.

**For details regarding appropriate use of CR and DR Modifiers https://www.cms.gov/files/document/se20011.pdf

 

References:

How to Use ICD-10-CM, New Lab Testing Codes for Covid-19. AAP News. (March 12, 2020). Retrieved on June 11, 2020 from https://www.cms.gov/Medicare/Coding/NationalCorrectCodInitEd/Downloads/modifier59.pdf

Modifier 59. (2017). American Medical Association. Retrieved on June 11, 2020 from https://www.cms.gov/Medicare/Coding/NationalCorrectCodInitEd/Downloads/modifier59.pdf

Medicare-Fee-for-Service (FFS) Response to Public Health Emergency on the Coronavirus (COVID-19). (June 1, 2020). Centers for Medicare and Medicaid Services. Retrieved on June 11, 2020 from https://www.cms.gov/files/document/se20011.pdf

ABOUT THE AUTHOR

402.827.2353

kkaye@lutz.us

LINKEDIN

KIM KAYE + HEALTHCARE CONSULTING SENIOR

Kim Kaye is a Healthcare Consulting Senior at Lutz with 16+ years of experience. She is responsible for providing professional coding assistance, chart audits and chargemaster reviews for clients with a focus on the healthcare industry.

AREAS OF FOCUS
  • Coding Assistance
  • Chart Audits
  • Chargemaster Reviews
  • Healthcare Consulting
AFFILIATIONS AND CREDENTIALS
  • Certified Professional Coder
  • Certified Evaluation & Management Auditor
  • American Academy of Professional Coders, Member
  • National Alliance of Medical Auditing Specialists, Member
EDUCATIONAL BACKGROUND
  • BA, Bellevue University, Bellevue, NE

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Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

115 Canopy Street, Suite 200

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Investment Fund Expenses Declined Last Year + Financial Market Update + 6.23.2020

Making Sense of Recent Market Moves + Financial Market Update + 6.16.2020

FINANCIAL MARKET UPDATE 6.16.2020

STORY OF THE WEEK

MAKING SENSE OF RECENT MARKET MOVES

The market hit a small milestone last Monday (6/8) when the S&P 500 moved back into positive territory for 2020. Time spent in the green was short-lived, however, as volatility returned soon after and culminated in a nearly 6% drop for the index on Thursday (6/11). When a single-day move of this magnitude occurs, it is human nature to want to understand why it happened. Before we dive into what may have been behind it, let’s take a step back and broaden our view of what has been happening in the markets.

After bottoming on March 23rd, stocks have been on an absolute tear. The economy, meanwhile, has yet to see a meaningful recovery. This disconnect has led to considerable confusion among investors, but there are a number of factors that are likely supporting the rally: 

  1. We Appear To Have Avoided The Worst-Case Scenarios Related To The Pandemic (at least thus far)
  2. Monetary Stimulus From The Federal Reserve
  3. Unprecedented Fiscal Stimulus
  4. The Slow Reopening Of The Economy
  5. Signs Economic Data Is Beginning To Improve
  6. Potential Progress In COVID-19 Treatments/Vaccines

The stock market is forward-looking, and prices reflect expectations for the future. For this reason, it is considered a “leading indicator” for the economy. This concept explains why the S&P 500 began to sell off in mid-February, despite confirmed COVID-19 cases and strict social distancing measures not ramping up until mid-March. The factors above have improved the market’s outlook for the future. So while stocks previously fell ahead of the economic downturn, they are now rising ahead of the economic recovery.

To say the market has been on a tear does not do this rally justice. The gains we have seen recently are actually of historic proportions. If you looked at rolling 50-day returns for the S&P 500, the period ending on June 3rd saw the largest return since the 1930s!

S&P 500: Rolling 50 Day Returns

      Date    | Return1

09/07/1932: 108.74%

06/02/1933: 72.57%

07/26/1938: 35.84%

03/06/1975: 26.88%

10/21/1982: 35.77%

05/19/2009: 34.23%

06/03/2020: 39.58%

With this backdrop, let’s turn our attention to the volatility we saw last week. There are two commonly cited reasons for the nearly 6% pullback on Thursday:

  1. A cautious outlook from the Federal Reserve following last week’s FOMC meeting
  2. Reports of new COVID-19 cases accelerating in parts of the U.S. and China

Both factors above appear perfectly logical and likely contributed to the decline, but I think there is a simpler explanation:

  1. The market rallied too far too fast

After delivering the most extreme short term gain in 80 years, the market needed a breather. It is not uncommon for stocks to gain so much momentum that they become overextended. When this occurs, it generally does not take much to upset the apple cart. In this instance, it was the Fed outlook and COVID-19 cases. Still, it could have just as easily been other news, including a bad economic data print, a wave of corporate defaults, diminished expectations for additional fiscal stimulus, failed vaccine trials, and so on. The key point is that a pullback after a strong rally is both normal and healthy.

It is human nature for investors to want to understand the cause behind large market moves. Perhaps the only question they want answered more is: where do we go from here? The market rally could pick up right where it left off, or it could be the start of a painful journey back to the lows. Any investor that knew with certainty how all of this would unfold would profit handsomely, but of course, that is not possible. As such, the most profitable strategy, on average, is likely to be staying disciplined.  

 

1: Returns are cumulative and are based on the S&P 500 PR index (excluding dividends) going back to 1928. Only the peak return within each rallying period is illustrated.  

WEEK IN REVIEW

  • Retail sales jumped by 17.7% in May, logging the largest ever month over month increase and handily beat economists’ estimates. The increase is a very positive sign, as the U.S. economy is largely powered by consumption. Despite the strong print, retail sales remain below pre-COVID levels.
  • Last week the Federal Reserve voted to keep short-term interest rates near zero during its two-day meeting of the Federal Open Market Committee (FOMC). The post-meeting statement indicated that the Fed “expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” Included with the statement was the committee’s estimates on economic growth (GDP), which they expect to decline by 6.5% in 2020, before rising by 5% in 2021 and 3.5% in 2022.
  • Other market moving news this week includes the Federal Reserve’s announcement yesterday that they will begin to purchase individual corporate bonds in the secondary market (something it pledged to do in March), a recent study found that the steroid Dexamethasone can reduce mortality rates among critically ill COVID-19 patients, and finally, Fed Chairmen Jerome Powell began two days of congressional testimony today on the current status of monetary policy (he has the ability to move markets every time he speaks publicly). 

HOT READS

Markets

  • U.S. May Retail Sales Surge 17.7% in the Biggest Monthly Jump Ever (CNBC)
  • Record Percentage of Investors Say Stocks are Overvalued, According to BofA Survey (CNBC)
  • Powell Warns of ‘Significant Uncertainty’ about the recovery and says small businesses are at risk (CNBC)

Investing

Other

  • Scientists Hail Dexamethasone as ‘Major Breakthrough’ in Treating Coronavirus (CNBC)
  • How Clean Is The Air on Planes? (CNTraveler)
  • With Real-Life Games Halted, Betting World Puts Action on E-Sports (NYT)

ECONOMIC CALENDAR

Source: MarketWatch

MARKETS AT A GLANCE

Source: Morningstar Direct.

Source: Morningstar Direct.

Source: Treasury.gov

Source: Treasury.gov

Source: FRED Database & ICE Benchmark Administration Limited (IBA)

Source: FRED Database & ICE Benchmark Administration Limited (IBA)

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ABOUT THE AUTHOR

402.763.2967

jjenkins@lutz.us

LINKEDIN

JOSH JENKINS, CFA + SENIOR PORTFOLIO MANAGER & HEAD OF RESEARCH

Josh Jenkins is a Senior Portfolio Manager & Head of Research at Lutz Financial with over nine years of investment experience. He is responsible for assisting clients in the construction, selection, and risk assessment of their investment portfolios. In addition, Josh will provide on-going research and trade support.

AREAS OF FOCUS
  • Asset Allocation & Portfolio Management
  • Investment & Market Research
  • Trading
AFFILIATIONS AND CREDENTIALS
  • Chartered Financial Analyst (CFA)
  • Chartered Financial Analyst Institute, Member
  • Chartered Financial Analyst Society of Nebraska, Member
EDUCATIONAL BACKGROUND
  • BSBA, University of Nebraska, Lincoln, NE

P: 402.827.2300 | F: 402.827.2319 | E: contact@lutzfinancial.com | 13616 California Street | Suite 200 | Omaha, NE 68154

All content © 2017 Lutz Financial  | Important Disclosure Information |  Privacy Policy

FORM CRS RELATIONSHIP SUMMARY