Fortem Financial

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Office Hours in Observance of Presidents' Day

  In observance of Presidents' Day, the New York Stock Exchange and bond markets are closed on Monday, February 20, 2023. Our office will be closing at 1:00PM PST on Friday, February 17, 2023, and will reopen on Tuesday, February 21, 2023, at 6:30AM PST.   Sincerely, Fortem Financial(760)   … View More

Some Caution is Warranted

U.S. equities closed lower last week as the S&P 500 (-1.1%) fell for the first time in three weeks and Nasdaq (-2.4%) in six weeks. WTI crude was up 8.6%, the best week since early October. Treasuries turned into a headwind due to a repricing of the Fed rate path. The only positive sector was energy (+5.0%); the worst sector was communication services (-6.6%) due in part to Google (-9.7%).   Source: Bob Doll, Crossmark Investments   Chart reflects price changes, not total return. B… View More

Staying Cautious but It's Getting Tougher

We first became cautious on future market returns last March and have remained so ever since. Despite some countertrend rallies after the market peaked at 4,797 on January 3, 2022, we continue to believe that the inversion of the yield curve, aggressive Fed tightening, and the likelihood of a decline in corporate profits renders the chances of recession by the end of 2024 at about 3 in 4. Having said that, the tape and the economic data over the past month suggest that a recession is unlikely t… View More

Fed Raises Interest Rates Again. Slowing, Not Stopping.

The Fed downshifted to a smaller rate hike to start 2023, but the job is far from done. As expected, the Fed raised rates by 25 basis points (bp) today, slowing from the 50bp hike in December, and the 75bp hikes at the four meetings before that. However, the Fed continued to reiterate that ongoing tightening is warranted and repeated the view that the risk to doing too little is greater than the risk of doing too much. While we have to wait for March to get updated forecasts from the Fed (the d… View More

Inflation and Earnings Estimates Continue to Decline

U.S. equities finished higher last week (S&P 500 +2.5%), closing above the 4000 level for the first time since early December. The path of least resistance remains higher even though earnings season continued to undershoot expectations. Best sectors were consumer discretionary (+6.4%) and technology (+4.1%); worst sectors were healthcare (-0.9%) and utilities (-0.5%).   4Q Reporting Season Continues To Underwhelm The 4Q reporting season continues to underwhelm with earnings growth expec… View More

Last Year's Worst Stocks Performing the Best So Far this Year

Source: Bob Doll Crossmark Global Investments   Sincerely, Fortem Financial(760)     Latest News   Market Recovery Hinges on Quick Drop in Inflation Rate Stocks and bonds have been buoyed by expectations that price increases will cool quickly. The Wall Street Journal Read Story   Activist Takes Big Stake in Salesforce Elliott Management has a multibillion-dollar stake in the business-software provider. The Wall Street Journal Read Story   Earn… View More

Markets Are Up for the Year But Will It Continue?

Stocks closed higher last week (S&P 500 +2.7%) at their highest level in a month. The main macro tailwinds include the decline in inflation (CPI) and improved consumer sentiment. Best sectors were consumer discretionary (+5.8%) and technology (+4.6%); worst sectors were consumer staples (-1.5%) and healthcare (-0.2%).   Source: Bob Doll Crossmark Global Investments   Sincerely, Fortem Financial(760)     Latest News   TaxWatch: IRS wraps up paying p… View More

IRS Gives Drenched Californians an Extra Month to File Tax Returns

The Internal Revenue Service offered a lifeboat of sorts Tuesday to California residents and businesses floundering in the atmospheric river: More time to pay their income taxes. The agency announced that taxpayers in any county covered by a federal emergency declaration would have until May 15 to file their income tax returns for 2022. So far, 31 of the state’s 58 counties are in that group, including Los Angeles, Orange, San Diego and Ventura counties; if the declaration is extended to more… View More

The Market is Treating Friday's Employment Report Like It's Goldilocks

Not long after Friday’s Employment Report multiple analysts and commentators were calling it a “goldilocks” report, by which they meant it showed that the economy was neither “too hot” nor “too cold,” but instead, “just right.” In turn, the theory goes, the Federal Reserve could stop raising short-term rates earlier and at a lower peak than previously expected, inflation would continue to cool, and the economy could pull-off an elusive “soft landing.” The biggest headli… View More

The Road Ahead for 2023

Is a U.S. recession or economic recovery in store for 2023?   Risk: With inflation peaking at 9.1% in June, a recession is now the No. 1 economic concern going into 2023. When businesses make less money due to lower consumer spending (triggered by dwindling reserves, price pressures and an aggressive Fed), companies lay off workers and more people are hesitant to spend. Weak expectations or prior over-investing also factor into the equation, with many firms feeling that large swaths of the … View More

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Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

If you have questions please call us at 760-206-8500 or go to our website at


Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

This website is limited to the dissemination of general information regarding the Firm's investment advisory services offered to U.S. residents residing in states where providing such information is not prohibited by applicable law. Accordingly, the publication of Fortem Financial' website on the Internet should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment, tax or legal advice. Furthermore, the information resulting from the use of any tools or other information on this website should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Fortem Financial. Any subsequent direct communication from Fortem Financial with a prospective client will 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. Fortem Financial does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to this website or incorporated herein, and takes no responsibility therefore. All such information is provided for convenience purposes only and all users thereof should be guided accordingly.

All statements and opinions included on this website are subject to change as economic and market conditions dictate, and do not necessarily represent the views of Fortem Financial or any of their respective affiliates. Past performance may not be indicative of future results and there can be no assurance that any views, outlooks, projections or forward-looking statements will come to pass. Investing involves risk, including the potential loss of principal, and the profitability of any particular investment strategy or product cannot be guaranteed.

Any rating referenced herein may not be representative of any one client's experience. Further, the Firm's receipt of any rating is not indicative of the Firm's future performance. The Charles E. Merrill Circle of Excellence award is granted by Merrill Lynch for outstanding client service and satisfaction. The award is granted based on annual criteria established by Merrill Lynch for its top decile advisors. The Barron's Top 1,200 Financial Advisors rating of the top financial advisors in the United States is based on data provided by participating firms. The following factors are included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance is not an explicit component. The Palm Springs Life's "40 Under 40" Rising Young Professionals to Watch in the Coachella Valley is based upon nominations from the local business community and selected by the staff of Palm Springs Life.

For information pertaining to the registration status of Fortem Financial, please refer to the Investment Adviser Public Disclosure website, operated by the U.S. Securities and Exchange Commission, at, which contains the most recent versions of the Firm's Form ADV disclosure documents.