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THE WAY THINGS SHOULD BE

THE WAY THINGS SHOULD BE

| March 18, 2020
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I received an email from a client today, needing some service. In his email, he said, in part, "Sorry to hit you up during this craziness when you’re probably super busy taking care of everyone’s portfolios' .....'Are you holding up well?"

The first ting I thought was that it was very kind of him to consider how his request would effect me, and ask how I was doing. He needn't have, because my job is to provide excellent service, but he's that type of person so it didn't surprise me.

This was, in part, my answer to him...

"I'm busy, but more in terms of just trying to communicate with clients and make sure they're okay. I've only received one single call from a client who was worried. I'll probably get more. I made the changes I made a year or so ago, because I thought the US stock market would correct itself eventually. So we're kind of ahead of the curve. And if that had happened, we'd be doing pretty darn well compared to the markets themselves. As it is, we're out-performing the equity markets, but unfortunately, our diversification doesn't help nearly as much as I'd like it to, because all equities, worldwide are being affected. I get some "sighs" sometimes when a client wants to be more aggressive, and they feel I have too much in bonds, but it's the bonds right now that are propping up every portfolio. Anyway, I'm not nearly as busy moving assets around, because that would probably mean selling when things are low. I'm just trying to keep the lines of communication open. Most people in my business lose clients during times like these, not because of portfolio performance, but because they get timid in contacting clients. It's difficult when things are rough. So right now, my job is to be there for them (you), and to proactively communicate. That why you've seen more emails, blog posts, and Social Media posts. I just want you and all my other clients to know I'm with you and available."

The above contained some of my own personal and professional opinions, so when I talk about performance, I am referring to his specific portfolio.

The point to this post though, is that during times like these, the communications between you and your financial professional should increase, not decrease.

If you have any questions, or just want feedback on my own thoughts in regards to what's happening in the markets, how the Coronavirus will effect the economy and your own portfolio, or anything else, please feel free to call or write. I'd be glad to talk with you, whether you're a client or not.

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