As I wrote the February edition of FTDOT, I discussed the potential effects of coronavirus on the overall economy and touched on the possibly of some global economic slowdown in the future. At that time, we were still dealing with a lot of “what if” scenarios. As you are well aware, so much has changed in just one short month. The situation is continuing to evolve daily with the nationwide spread of the coronavirus leading to historic volatility in the markets as well as unprecedented changes in our daily lives. In an effort to keep you updated and communicate my own thoughts on daily market fluctuations, I’ve been sending out communications, including my first video update – all intended to keep you as informed as possible. We’re also continuing to have countless conversations with clients not only profoundly worried about their financial future, but their health and that of their family and friends.
I plan on continuing to share my own thoughts regarding daily market fluctuations and the outlook for the future and I’m committed to do so until we can see our way out of this. With the possibility of some extra time on your hands due to social distancing, I have included a Raymond James webinar, Black Swan | Coronavirus, from Tuesday, March 16. If you’re interested in taking a deep dive (one hour and 8 minutes to be exact) into how the coronavirus is affecting all aspects of the economy, Larry Adam, CFA, CIMA®,.CFP®, Chief Investment Officer, Raymond James, along with various other Raymond James thought leaders, including head of Equity Portfolio and Technical Strategy, Chief Income Strategist, Washington Policy Analyst, Health Care Policy Analyst and Energy Analyst, provide their unique perspectives.
When emotions are high, particularly about your health and money, it’s not an ideal time to make financial decisions, so please don’t hesitate to reach out so we can discuss your situation. We’re working with all of clients to chart the best plan of action for each individual. It’s not always a one size fits all approach. As we navigate through the next few weeks of social distancing and hopefully begin seeing some effect on the additional spread of coronavirus, I will continue providing my thoughts and commentary. In the meantime, please know that we’re always here to help.
Todd M. Wike, CFP®
CERTIFIED FINANCIAL PLANNER™
Managing Partner, Potomac Financial Group
2019 RJFS Chairman’s Council Member*
The information contained in this material does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Todd Wike and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor’s results will vary. Past performance does not guarantee future results. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Raymond James is not affiliated with and does not endorse the services or opinions of the various podcasts or applications discussed in this material. Chairman’s Council Membership is based on prior fiscal year production. Re-qualification is required annually. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisors future performance. No fee is paid in exchange for this award/rating. 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.