Diversified Names 403(b) Market Leader

Diversified Investment Advisors, Inc., has announced that Brodie Wood has been promoted to vice president and 403(b) market leader of the firm’s not-for-profit (NFP) practice.

In this role, Wood will assume leadership of Diversified’s NFP sales and product development efforts as well as its western sales region, the announcement said. He will report to Joe Masterson, senior vice president and chief sales and marketing officer, and he replaces David Ray, who left the firm.

Wood previously served as vice president of Diversified’s Participant Counseling Organization, a group dedicated to delivering employee education, as well as assisting with asset consolidation and retirement planning. Prior to joining Diversified in 2008, Wood worked for Fidelity Investments in several capacities for more than 10 years.  

Many Happy Returns?

Major U.S. stock indexes ended what turned out to be a good year on a sour note—albeit on very light trading volume.

How good a year?  During the month of December, the Dow was up 0.80%, the S&P 500 gained 1.78%, the Wilshire 5000 Total Market Index was up 3.05%, the NASDAQ climbed 5.81%, and the Russell 2000 rose 7.88%. (The returns are not adjusted for dividends.)     

Quarter-to-date the Dow was up 7.37%, the NASDAQ was 6.91% higher, the Wilshire 5000 Total Market Index was ahead 5.51%, the S&P 500 closed up 5.49%, and the Russell 2000 rose 3.49%.  

As for 2009?  Well, year-to-date the NASDAQ was up 43.89%, the Wilshire 5000 Total Market Index gained 27.09%, the Russell 2000 rose 24.45%, the S&P 500 was 23.45% higher, and the Dow gained 18.82%.  And, good as the year-to-date numbers are, if you measure the recovery from the March bottoms, the Dow has rebounded 59.3%, the S&P 500 is up 64.8%, and the NASDAQ has regained 78.9%.

A Look Back

Now, as good as that is, remember than in 2008, the NASDAQ shed 40.54%, the Dow Jones Wilshire 5000 closed down 38.68%, the S&P 500 slipped 38.49%, the Russell 2000 lost 34.40%, and the Dow closed 33.84% lower than it began the year.     

And remember that if you lose 50% one year—even if you gain 50% the next year—well, you’re still a long way from “even.”  Still, it’s a start. And a good one at that.     

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