|March 17, 2020|
I wanted to take this opportunity to follow-up on my March 12th letter, “Corona Bear.” In this time of market volatility and (social) media exhaustion, we continue to be steadfast in our fiduciary duty of providing you financial direction in this complex world. Zig Ziglar stated “Expect the best. Prepare for the worst. Capitalize on what comes.” As we navigate through these uncharted waters, we feel that we are well prepared to help you capitalize on the opportunities that may present themselves over the next horizon.
Late yesterday afternoon, Governor Tom Wolf of Pennsylvania announced a statewide voluntary shutdown of all nonessential businesses. Personal visits to our office, although welcome, are non-essential, but we believe our service to you during this time of market volatility is indeed essential. We are committed to the diligent monitoring and servicing of your financial well-being. We are also committed to doing our part to “flatten the curve.”
Therefore, I feel it is important to update you regarding your communication access to our firm: it is unchanged, by phone or by email. However, we also believe it is our duty to protect our staff and clients in this current environment. Therefore, we recommend that all visits to our office from clients be postponed until after March 31, 2020. We will shortly be contacting clients with upcoming scheduled in-person meetings to reschedule to an alternative date.
Although our advisory and support staff is equipped to work remotely, we are enacting a measured response to the voluntary shutdown by initiating a rotating “work from home / work at office” schedule for our staff that will reduce the foot traffic in the office to levels recommended by authorities. There are a number of processes that can be more effectively managed with personal staff interaction than if we were all working remotely.
TaxPrep: We also recommend that those clients who need to drop-off paperwork or tax documents either mail their documents to us or postpone dropping them off for two weeks. Finally, for clients who normally pick up or sign tax documents in person, we will be in contact with you directly regarding next steps.
The famous Greek philosopher Epictetus is credited with stating “It’s not what happens to you, but how you react to it that matters.” As has been the case so often in the past, we believe this uncertainty will pass, calm heads will prevail, and life will resume in normal fashion for us all.
Our 26th annual WorldWatch Conference is still scheduled for Thursday, May 7, 2020 at Blue Bell Country Club. The theme this year: “Here Comes the Sun.” We look forward to seeing many of you there.
Richard J. Volpe, CFP®, CLU®, ChFC®
Founder and President