Before I address how the coronavirus continues to stress the markets, I’d like to first outline some temporary adjustments to our service model that are intended to minimize the impact of the virus on you, your family, and our staff.
Please note, we are here and ready to answer any questions you may have.
For at least the next few weeks, all client appointments will be held by phone.
While Allworth (including all staff members and every aspect of our firm) remains (and will remain) fully operational, until further notice, all advisory appointments will be held via phone. In the days leading up to your appointment, you will receive a reminder email.
Furthermore, to help limit the spread of the virus, we have asked many of our staff to work from home. Rest assured, our technology, operations and advisory teams have prepared well for these types of scenarios. In short, you can expect to receive the same level of service, access and support as you always have, all while knowing with full confidence that your information is being protected through secure networks.
Keeping you informed.
One of our foundational beliefs is that education instills confidence. Keeping you informed is a responsibility we take seriously.
Since the first signs of turbulence a few weeks back, we’ve produced, and will continue to produce, up-to-date emails, articles, videos and podcasts that clearly explain both what is happening and why it’s happening.
As circumstances dictate and new information emerges, we promise to keep you informed. Here are just some of the resources we have available for you today:
Navigating Financial Shocks
This 15-minute video covers what has happened in the last few weeks, how this compares historically, and, most importantly, what steps you should consider taking (or avoiding) to protect yourself in the near future. Watch it here.
Money Matters Special Edition Podcast
Pat and I recorded a special edition podcast on March 17th to discuss the current state of the markets, how the economy might be affected, and the areas investors should be focusing on during this time. Listen to it here.
Social Security Strategies
At the time of the coronavirus outbreak, we were gearing up for a major retirement planning and Social Security workshop series. Thousands had registered. However, due to the pandemic, we’ve postponed in-person workshops in favor of on-demand workshops. Register for it here.
Now, about the coronavirus and market turbulence.
I’d like to leave you with these thoughts. First, absolutely no one can tell you precisely where the market is going to be in the future.
If ANY financial services professional tells you they know what is going to happen, I suggest you get as much social distance from them as possible.
That’s not to minimize what is happening.
In times like these, unsavory elements will emerge. Please stay on guard and protect yourself from people who are looking to use the chaos in the markets to take advantage of you.
Because the fact is, that not only is coronavirus making people sick and doing serious damage to our economy, it’s scaring people.
But what we at Allworth can do, is what we’ve always done, and that is to illuminate and provide perspective.
Obviously, we aren’t healthcare providers. We manage investments, make tax and estate planning recommendations, and guide people to and through retirement. And that means we are going to do everything we can to keep you educated, informed, and to look out for your best interests by adapting our services to protect you and your family.
You have our word on it.
The current market situation is something we’re prepared to handle—we have a great plan in place to deal with it, and we’ve been through similar shocks before—so if circumstances change, we will quickly update our plan and adapt.
That’s what we do.
That’s it for now.
As always, if you have any questions or concerns, please don’t hesitate to contact us.
Scott Hanson, Co-CEO
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Securities offered through AW Securities, a Registered Broker/Dealer, member FINRA/SIPC. Check the background of this firm on FINRA's BrokerCheck.
1The NBRI Circle of Excellence Award is bestowed upon NBRI clients meeting one or both of the following criteria: Total Company score at or above the 75th percentile of the NBRI ClearPath Benchmarking Database and/or improvement of five (5) or more benchmarking percentiles in Total Company score over the previous survey.
2Scott Hanson (2011, 2012, 2013, 2014, 2015 & 2016) and Pat McClain (2012, 2013, 2014, 2015 & 2016). Barron's© magazine is a trademark of Dow Jones L.P. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms and the quality of the advisors' practices.
3As of 12/20, Allworth Financial, an SEC registered investment adviser and AW Securities, a registered broker/dealer have approximately $10 billion in total assets under management and administration.
4Barron’s 2020 Top 100 RIA Firms. Barron's© magazine is a trademark of Dow Jones L.P. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms and the quality of the advisors' practices.
✢Scott Hanson, Investment Advisor 2005, 25 most influential people in the financial services industry. The ranking reflects 25 people who Investment Advisor magazine believes have had or will have the greatest influence on the financial services industry.
✼Pat McClain, InvestmentNews 2014, Invest in Others Community Service Award, presented to an advisor who has made an outstanding impact on a community through managerial contributions to a non-profit organization.
†Financial Times, FT 300 Top Registered Investment Advisers, June 2019. The ranking reflects six areas of consideration including the company's years in existence, industry certifications of key employees, AUM, asset growth, SEC compliance record and online accessibility and calculates a numeric score for each company.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.