Thiesen Dueker Group 
As the first half of 2016 ended, the economy seemed to be repeating the pattern seen in 2014 and 2015 - a poor first quarter giving way to a better second quarter. Monthly indicators showed improvements in consumer spending, retail sales, and manufacturing. Consumer confidence also rose. The quarter did see a decline in the pace of hiring, and the red-hot housing sector cooled a bit. Oil prices rebounded, which really helped equities. For the first time in history, a country voted to leave the European Union. News of that vote stunned financial markets worldwide in June, to an even greater degree than the multiple terrorist attacks carried out by ISIS and its sympathizers. Bullish sentiment ultimately won out on Wall Street during a volatile quarter as the S&P 500 rose 1.90% in three months. The Federal Reserve left interest rates unchanged, which could be the case for some time.

Our goal is for our clients to consider themselves as better off for having chosen Thiesen Dueker Group. We strive to achieve this by offering sound advice, staying in close communication, being accessible and responsive, and by fostering a sense of family.

Let's Talk...
It would be our pleasure to spend more time with you to discuss strategies to grow and preserve the wealth you have worked so hard to accumulate. As your financial consultants, we pledge to put your best interests first, communicate market opportunities, manage any risk you may face and make adjustments to your financial strategy as markets change and your needs evolve.

Coming up...
Our annual Client Appreciation Tailgate will be Saturday, September 10. Our Fresno State Bulldogs will be taking on the Sacramento State Hornets. If you've attended the annual tailgate event in the past, you know it's a family event with great food and lots of laughs. If you haven't attended, this is your year! As the event approaches, we'll get you all the details. We are all looking forward to an exciting season of Bulldog Football. Go Dogs!

We want to introduce our newest TD team member, Hudson Ward! Our very own Tess and her husband Stanley welcomed their baby boy into the world on June 24th. Weighing in at 8 lbs, 3 oz and standing 21 ΒΌ inches tall, Hudson has stolen the hearts of everyone. Tess and Stanley are adjusting to their roles as parents and loving every bit of it! 

Thiesen Dueker Seminar Series
Don't forget that we offer an informative seminar series almost monthly throughout the year. We have discussed the 2016 Market Outlook, Social Security as well as Long Term Care.  Our August 15th Seminar will be on Estate Planning with special guest, Paul Franco, Estate Planning Attorney. We would love to have you join us in our Fresno office and bring a friend or family member who we haven't yet had the pleasure of meeting. 
Why the Brexit Should Not Rattle Investors
Wall Street has rebounded so many times, so quickly.
Uncertainty is the hobgoblin of financial markets. Right now, investors are contending with it daily as the European Union contends with the United Kingdom's apparent exit.
Globally, many institutional investors have responded to this uncertainty by selling. Should American retirement savers follow their lead?
They may just want to wait out the turbulence.
The Brexit vote was a disruption for Wall Street, not a new normal. Yes, it could mean a "new normal" for the European Union - but the European Union is not Wall Street. Stateside, investors respond to domestic economic and geopolitical indicators as much as foreign ones, perhaps more.
As Wells Fargo Investment Institute head global market strategist Paul Christopher remarked to FOX Business on June 24, "We're getting used to the shock of the vote and [the] surprise. But does it change anything fundamentally about the market? No."1
Central banks may respond to make the Brexit more bearable. They are certainly interested in restoring confidence and equilibrium in financial markets.
Post-Brexit, there is no compelling reason for the Federal Reserve to raise interest rates this summer, or during the rest of 2017. You may see the European Central Bank take rates further into negative territory and further expand its asset-purchase program. The Bank of England could respond to the Brexit challenge with quantitative easing of its own, and interest rate cuts.
"There is no sense of a financial crisis developing," U.S. Treasury Secretary Jack Lew told CNBC on June 27. Lew called the global market reaction "orderly," albeit pronounced.2
The market may rebound more quickly than many investors assume. Ben Carlson, director of Institutional Asset Management at Ritholtz Wealth Management, reminded market participants of that fact on June 24. He put up a chart on Twitter from S&P Capital IQ showing the time it took the S&P 500 to recover from a few key market shocks. (Sam Stovall, U.S. equity strategist at S&P Global Market Intelligence, shared the same chart with MarketWatch three days later.)3,4
The statistics are encouraging. After 9/11, the market took just 19 days to recover from its correction (an 11.6% loss). The comeback from the "flash crash" of 2010 took only four days.
Even the four prolonged market recoveries noted on the chart all took less than ten months: the S&P gained back all of its losses within 257 days of the attack on Pearl Harbor, within 143 days of Richard Nixon's resignation, within 223 days of the 1987 Black Monday crash, and within 285 days after Lehman Brothers announced its bankruptcy. The median recovery time for the 14 market shocks shown on the chart? Fourteen days.3,5
The S&P sank 3.5% on June 24 following the news of the Brexit vote - but that still left it 11% higher than it had been in February.5,*
The Brexit is a political event first, a financial event second. Political issues, not economic ones, largely drove the Leave campaign to its triumph. As Credit Suisse analysts Ric Deverell and Neville Hill wrote in a note to clients this week, "This is not a shock on the scale of Lehman Brothers' bankruptcy in 2008 or, if it had happened, a disruptive Greek exit from the euro, in our view. Those types of events deliver an immediate devastating shock to the global financial architecture that, in turn, have a powerfully negative impact on economic activity." Aside from the political drama of the U.K. exiting the E.U., in their opinion "nothing else has changed."4
The Brexit certainly came as a shock, but equilibrium should return. Back in 1963, the admired financial analyst Benjamin Graham made a statement that still applies in 2016: "In my nearly fifty years of experience in Wall Street, I've found that I know less and less about what the stock market is going to do, but I know more and more about what investors ought to do."6

Graham was making the point that investors ought to stick to their plans through periods of volatility, even episodes of extreme market turbulence. These disruptions do become history, and buying opportunities may emerge. Wall Street has seen so few corrections of late that we have almost forgotten how eventful a place it can be. The Brexit is an event, one of many such news items that may unnerve Wall Street during your lifetime. Eventually, equilibrium should be restored, and, as the historical examples above illustrate, that can often happen quickly.
* The S&P 500 is an unmanaged index, and cannot be invested into directly. This past performance is no guarantee of future results.
The S&P 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
1 - [6/24/16]
2 - [6/26/16]
3 - [6/24/16]
4 - [6/27/16]
5 - [6/27/16]
6 - [6/24/16]

Ten Tips To Avoid Identity Theft
We live in an increasingly online world. You can trade stocks, buy groceries, pay bills-almost any financial transaction you need to make can be done in the comfort of your own home, at your computer. With identity theft posing a real threat, though, keeping financial data private requires that consumers be proactive in the way that they approach online security.
1. Only Make Purchases On Trusted Sites
2. Order Your Credit Report
3. Know How To Spot Phishing
4. Secure Your Network
5. Can the Spam
6. Don't Store Sensitive Information On Non-Secure Web Sites
7. Set Banking Alerts
8. Don't Reuse Passwords
9. Use Optional Security Questions
10. Don't Put Private Information On Public Computers
We have been busy!
Our quarter in  photos...
We would like to share some of the things we are doing in the community as a company and on our own. We work hard to help improve the lives of our clients. We also work hard to improve the communities we serve throughout California. We strive to earn your business by being the best at what we do and by working with Thiesen Dueker, you help us help our community. It's who we are and we make every effort to be a blessing. 

Stephen Spach particip ated in the NFLPA F ormer  Players Northern California Chapter REAL Men Read Day. The program reinforces three fundamental principles: reading is fun, the community cares, and a commitment to education can ensure success. REAL Men Read Day is an excellent opportunity to motivate the students while demonstrating the importance to model behaviors essential for lifelong learning. 

Conrad Fournier, Michael Muhareb and Vince Mastro of our Merced office putting their grilling skills to work for a client appreciation BBQ.

Some of the TD Team at our 9th Annual Charity Golf Tournament. The tournament was a great success. Thank you to all those who participated!

Our annual Care Fresno trip to the Santa Cruz Beach Boardwalk. 
2016 Fresno State Bulldogs Football Schedule

Sep. 3
at Nebraska Cornhuskers 
Memorial Stadium, Lincoln, NE
Sep. 10
Sacramento State Hornets 
Bulldog Stadium, Fresno, CA
Sep. 17
at Toledo Rockets 
Glass Bowl, Toledo, OH
Sep. 24
Tulsa Golden Hurricane
Bulldog Stadium, Fresno, CA
Oct. 1
at UNLV Rebels 
Sam Boyd Stadium, Las Vegas, NV
Oct. 8
at Nevada Wolf Pack 
Mackay Stadium, Reno, NV
Oct. 14
San Diego State Aztecs 
Bulldog Stadium, Fresno, CA
Oct. 22
at Utah State Aggies 
Maverik Stadium, Logan, UT
Oct. 28
Air Force Falcons 
Bulldog Stadium, Fresno, CA
Nov. 5
at Colorado State Rams 
Hughes Stadium, Fort Collins, CO
Nov. 12
Nov. 19
Hawaii Rainbow Warriors 
Bulldog Stadium, Fresno, CA
Nov. 26
San Jose State Spartans 
Bulldog Stadium, Fresno, CA
Dec. 3
MWC Championship Game
Hosted by highest ranked team in CFP.

Market Stats As Of 
July 18, 2016
Dow Jones   +0.09%
Nasdaq   +0.52% 
S&P +0.24%
US Treasury Yield
Last Yld
3 mo. 0.29%
5 yr. 1.13%
10 yr. 1.59%
30 yr. 2.30%
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Jeff Thiesen
Partner & LPL Financial Consultant

Lance Dueker
Partner & LPL Financial Consultant

Jasin Carlen
Partner & LPL Financial Consultant

Tom Fife
Partner & LPL Financial Consultant

Conrad Fournier
Partner & LPL Financial Consultant

Matt Merzoian
LPL Financial Consultant & Partner, Retirement Plan Services Division

Holly Bare
LPL Financial Consultant & Partner, Retirement Plan Services Division

Thomas Frost
Associate & LPL Financial Consultant

Jason Link
Associate & LPL Financial Consultant

Brian Nunes
Associate & LPL Financial Consultant

Ronald Young
Associate & LPL Financial Consultant

Ryan Purkiss
Associate & LPL Financial Consultant

Michael Muhareb
Associate & LPL Finanical Consultant

Tom Morgan
Associate & LPL Financial Consultant

Stephen Spach
Associate & LPL Financial Consultant

Vince Mastro
Associate & LPLWealth Advisor 

Tuan Tran
Associate & LPL Financial Consultant

Kimberly Choi-Lindley
LPL Registered Client Services Associate

Jamie Davis
LPL Registered Client Services Associate

Tess Ward
Client Services Associate

Maday Diaz
Client Services Associate

Diana Kliewer
Client Services Associate

Rebeka Leighton
Client Services Associate

Carol Matalon
Client Services Associate

Layla Murphy-Long
Client Services Associate

Michelle Shepherd
Client Services Associate

Shaley Reagan
Retirement Plan Services Assistant

Tammie Sitton
LPL Client Services Associate

Te Shardlow
LPL Director of Operations

Brooke Simmons
Chief Compliance Officer
LPL Financial Consultant

Shannon Stewart
Director of Marketing Communications


 Retirement Planning
  • Traditional/Roth IRAs
  • Simple/SEP IRAs
  • IRA Rollovers and     IRA Consolidations
  • 401(k), 403(b), Profit Sharing and Defined Benefit Plans
  • Income Distributions and RMDs
Financial Strategies
  • Comprehensive and Modular Financial Plans
  • Risk and Insurance Analysis
  • Wealth Accumulation and Income Planning
  • Personal, Family and Charitable Trusts
  • Private Trust Services* 
Investment Management
  • Asset Allocation Modeling
  • Investment Manager Search and Selection
  • Performance Monitoring
  • Institutional Research

 Educational Funding

  • 529 Plans
  • Education Savings Accounts
  • Custodial Accounts

 Investment options and tools

  • CDs and Money Market Funds
  • Tax-advantaged Municipal and Treasury Bonds
  • Domestic and Foreign Stock and Bonds
  • Mutual Funds, Unit Trusts and ETFs
  • Fixed and Variable Annuities
  • Insurance - Life, Long-Term Care and Health
  • Alternative Investments - REITs

 *LPL Financial representatives offer access to trust services through The Private Trust Company N.A., an affiliate of LPL Financial.  

Important Dates:

August 15th, 2016
Estate Planning Seminar - Fresno Office

September 10th, 2016
Client Appreciation Tailgate

October 6th, 2016
Open House - Fresno Office

December 1st, 2016
Toys For Tots Event

February 24th, 2017
Bowling For Charity 
Have you visited our new website?
There are multiple calculators and educational materials as well as videos that can be useful. Visit our resource center and select the topic that interests you to find relevant presentations, articles and videos. 

Each week the LPL Financial Research team assembles thoughtful insight on market and economic news. You can download the commentary from the Weekly Market Commentary widget on any main page of our site.

 Providing extra value in the form of superior online resources is important to us.  We hope you enjoy the new format and that it becomes a valuable tool for continued financial information and success.
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The Financial Consultants at Thiesen Dueker Group are also registered representatives with, and securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC