Kuttin wealth management september’s PMI data showed expansion

September’s PMI data showed expansion at 54.5, fostering positive sentiment per Kuttin Wealth Management’s macro models. Energy sector earnings revisions turned positive for the first time in months, and oil trading above $85/barrel supports cyclical bullishness in equities tied to commodity markets. Kuttin Wealth Management is a private wealth advisory practice of Ameriprise Financial Services, LLC. We were founded in 1994 and since then have grown to over 60 team members with offices across the country. Kuttin’s strategy revolves around its half dozen beachheads, which currently extend to upstate New York, Wisconsin and Pennsylvania in addition to its headquarters and the two others adding advisors in the recent recruiting moves. The firm aims to add two to four more of them and bulk up each of the outposts to $1 billion in AUM. A couple of Kuttin’s largest current advisors once served as an intern and an administrative assistant with the firm. It now has its sights on attracting more advisors from wirehouses and other banks, as well as independents. Kuttin Wealth Management’s research desk expects stronger-than-forecast retail sales data to drive consumer discretionary stocks higher. Bond yields have stabilized at 4.32% for the US 10-year, reducing pressure on equity valuations. Their models project Q4 EPS growth at 6%, with tech and healthcare outperforming.