Brad McMillan, CFA, CAIA, MAI

Brad McMillan, CFA®, CAIA, MAI, is chief investment officer at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. As CIO, Brad chairs the investment committee and is the primary spokesperson for Commonwealth’s investment divisions. Brad received his BA from Dartmouth College, an MS from MIT, and an MS from Boston College. He has worked as a real estate developer, consultant, and lender; as an investment analyst, manager, and consultant; and as a start-up executive. His professional qualifications include designated membership in the Appraisal Institute (MAI), the CFA Institute, and the CAIA Association. Brad speaks around the country on investment issues and writes for industry publications, as well as for this blog.
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Recent Posts

Will the China Coronavirus Strike Investments?

January 24, 2020

One of the potential disruptors of the generally positive economic news surfaced in the form of a viral outbreak in China last week. Known as the coronavirus, as of this morning, there were 895 cases in mainland China (mostly in the Wuhan area) and 26 deaths, for a mortality rate of less than 3 percent. There were also at least 20 other cases around the world, including 1 case here in the U.S. The comparison that is being made is to the last major new disease from China, SARS, in 2003.

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Will the China Phase One Deal Spell the End of the Trade Wars?

January 23, 2020

With the recent signing of the phase one trade deal with China, the sense has been that everything is all set, and we can now move on. There is some truth to this belief, as the deal is better than nothing. Still, the agreement leaves many issues unresolved and even creates some new ones.

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NAFTA Versus the USMCA: What’s Different?

January 22, 2020

The North American Free Trade Agreement (NAFTA) is just about to be formally replaced by the United States–Mexico–Canada Agreement (USMCA). This news has generated both headlines and optimism in recent weeks, as a sign that progress can be made on trade issues. With the approval of the agreement by both the House and the Senate here in the U.S., and the pending signature by President Trump, it looks like the USMCA will become the law of the land very soon. But what does this mean?

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Monthly Market Risk Update: January 2020

January 15, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Market Risk Update. Thanks for the assist, Sam!

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Economic Risk Factor Update: January 2020

January 14, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Economic Risk Factor Update. Thanks for the assist, Sam!

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Inflation Versus Wage Growth

January 9, 2020

Last week, a reader had an interesting question in response to the Homer Simpson economic video. He wondered, given the number of jobs that Homer Simpson has had and how compensation has changed over time, is there a good analysis of income versus inflation? I didn’t know of any such analysis, so I decided to come up with one. Since much of the analysis around this question is less than clear (to be frank), I also decided to use it as a primer on how to read through economic statistics. As always, caveat emptor!

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Looking Back at the Markets in December and Ahead to January 2020

January 8, 2020

As I do every month, it’s time to take a look back at what happened in the previous one and what it could mean going forward. With the start of a new year, we have a lot to cover.

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