Office Update - April 13, 2020

Posted in News

It is important that we remain connected, even as we practice social distancing. That’s why you’ll be hearing regularly from my team and I while this volatility continues. 

This may be by phone, video conferencing or email. We will also continue to post updates on our blog. 

A Note to Clients

One of the things that makes this crisis tougher than others is that we are being asked to manage it through distance from people we normally reach out to for guidance or comfort – or simply that one person who is willing to listen. Social distancing from our families, friends, colleagues and yes, even our advisors, can be tough.But we are certain we will overcome this crisis, as we have all the others – even if it means keeping a distance of six feet.

As we watch the markets go up and down and read the increasingly negative headlines, it’s critical to understand that this is simply short-term noise when it comes to your financial position. Let’s not forget the work we did before getting to where we are now. We have long prepared for this possible event by making smart, responsible asset allocation decisions. We crafted a long-term plan and diversified your holdings for situations just like this.

We also want to highlight that this is a health crisis first and foremost. Given the strength of the economy before the crisis, some experts believe a recovery could be fairly fast and strong. No one knows for sure how long we might be in the current state, but I remain confident of where we will be in the future. We are monitoring the markets and your investments with great diligence to keep us well positioned for positive days ahead. Strong recoveries have followed all previous market downturns, and we are extremely confident that this time will be no different.

What Are My Options When the Market is Down?

  • Stay the course?

  • Cut and run?

  • Jump in?

Market volatility and major downturns may cause investors to rethink their approach; however, history tells us staying the course during a downturn is a better approach. If you have cash on the sidelines, you may want to add to your portfolio to benefit from a rebound but we recommend doing so periodically over the coming weeks. 

Check out this case study comparing investor responses in the 2008 financial crisis:

Case Study

Talk to a professional.

Our entire team of advisors, is here to help you understand what is happening and why, and to share with you a calm, confident and informed outlook on this current crisis.

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Testimonials from the Hollis Wealth Financial Management Team, Welland

From the HollisWealth Welland Team