BKD wealth adviser talks investment strategy

The mood on Wall Street is subdued but not dreary, and there's hope for investors attempting to weather the economic storm, according to Jeff Layman.

He would know. He was on the floor of the New York Stock Exchange a week ago, discussing the day's market actions for CNBC's Closing Bell segment.

The principal and chief investment officer for Springfield-based BKD Wealth Advisors LLC, a division of CPA firm BKD LLP, was the featured guest this morning at Springfield Business Journal's 12 People You Need to Know breakfast. Layman talked investment strategies and economic outlook with SBJ Editor Eric Olson in front a crowd of about 75.

"Things definitely have come down a few notches," he said of the atmosphere at the exchange. "The mood was more somber, but maybe not as bad as you'd expect, given everything that's happened."

Layman is a regular guest for financial news networks such as CNBC, Bloomberg and Fox Business. He oversees investment strategy and $1.3 billion in assets for BKD Wealth Advisors' five offices.

Layman says he expects the economy to continue its decline into the second quarter and begin to turn around in the third and fourth quarters this year. He tells investors to be patient, as the government's bailouts and stimulus programs will take time to have an effect.

In the meantime, he recommends that skittish investors put money in government bonds, despite their relatively low returns, and in money market funds and guaranteed bank deposits.

"It's not going to get you to financial goals over time, but it's good if you want to seek shelter," Layman said.

In two or three years, Layman predicts inflation will be a major issue, a consequence of the government's current attempts to infuse billions of dollars into a hurting economy.

"We're in an environment where we know a lot of companies didn't do a good job managing risk," he said. "Chances are, no one in this room borrowed more than they could pay. But we're all paying for it."

SBJ's next 12 People You Need to Know breakfast will feature Ron Spigelman, musical director of the Springfield Symphony Orchestra. Tickets to the Feb. 10 event are $15. More information is available at the link below.