Storm Before the Clouds.

Storm Before the Clouds.

At least that is what it feels like to me.

The unpredicted storm of COVID 19 and associated side effects of economic disruption. A time to batten down the hatches and stay inside. And wait for the calm. We have weathered several of these storms together in the past. And we know that there will be more of them in the future.

Collectively, the average number of years that I have been working with you as clients has been over 20 years. But you know there has been nothing “average” about those years. Nothing “average” about the changes in your personal lives during those 20 years. But in your financial lives, we know that the positive averages of investing over long periods of time can smooth out the negative effects of those two bear market storms we weathered together in 2000-2001 and 2008. I believe the reason that I am not hearing from many of you during this downturn is that you already know what my answers will be.

• We’ve done our homework. We have tried to be proactive so we don’t have to be reactive.

• We have reviewed overall asset allocation & tried to make sure it is appropriate for your personal situation.

• We have discussed having cash available to cover your withdrawal needs for several years so we do not have to sell into a downturn.

• The W&A investment committee had already prospectively put on a hedge position for all of our clients that has provided some cushion from the current decline in the stock market.

• And we are currently reviewing opportunities for tax-loss harvesting & reinvesting so you can benefit from market rebounds & hopefully save some money when tax time rolls around in 2020.

We have done our best to prep for the inevitable storms that we know will come into our lives without any warning clouds.

Let me know all is OK with you & your families & you are weathering this storm just as well as you have in the past.

— Phyllis

Author: Senior Vice President Senior Wealth StrategistPhyllis had been associated with W&A for a number of years before joining the firm, acting as a consultant to the company in its formative stage and subsequently as a client. Prior to joining W&A, Phyllis served as Vice President, Corporate Finance at Morgan Keegan & Company, Inc. She was involved in all aspects of its investment banking activities, including mergers and acquisitions, valuation studies, and initial public offerings. She earned registrations in NASD Series 7 (Registered Representative) and Series 63 (Blue Sky). Phyllis holds an MBA in Finance as well as M.Ed and BBA degrees from the University of Memphis. She is a Chartered Financial AnalystTM(CFA®) and a Certified Financial PlannerTM(CFP®) Licensee. She is past-Chairman and past-President of the Mid-South Society of the Financial Planning Association (FPA) and served on their Board of Directors from 1995 to 2000. During her term as President in 1998, the Mid- South Society of FPA was chosen the Outstanding Society of the Year by the national FPA organization. Her community volunteer activities include MIFA and the Women’s Foundation for a Greater Memphis, where she served as Treasurer, Chair of the Finance Committee and currently chairs the Investment Committee. She also serves on the Board of Governors of The Seaside Institute in Seaside, FL.

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