We wanted to give you a quick update on activity related to the coronavirus. Thank you to those who are “checking on us”. We are fine and remaining calm in spite of the off and on panic you may be seeing on your favorite financial news network and in the markets in general. Also know that logistically we are prepared to work remotely with no business interruption and can even schedule your next review remotely as well.
As a reminder, we made significant changes to your portfolio prior to this event under the premise that the long bull market was showing some age and we wanted to get in front of it. Those changes have proven correct. Also remember that bond portfolios are working positively and are a shining asset class, not surprising. To curb the volatility in your portfolio we have recently raised cash levels by approx. 9%.
As in any market correction, there are always opportunities that are revealed. For those of you who have cash on the sidelines and own life insurance policies, the floor they provide can be an excellent benefit during these times, and the opportunity for future growth may be a good place to deploy current cash depending on your portfolio. As always, we are reviewing your future cash needs as a data point for our next decisions. Also, events like this give you a great opportunity to see how market volatility makes you “feel”. Many of you may actually want to increase your equity exposure in the future and the current market has provided a great entry point.
Finally, know that we are prepared to speak with each of you if you have questions or just want to talk. The uncertainty remains but so does our resolve to stay vigilant to your overall financial health.