As market volatility continues due to COVID-19, investors should understand the opportunities available to recoup losses and what areas to avoid.

The economic impact of the novel coronavirus has many rattled, and investors are wondering how to navigate through a sea of information and news. It is vital to make informed decisions and not sell-off investments out of fear. What techniques and solutions can protect your hard-earned assets, and how can they be best positioned to take advantage when things begin to normalize? Below are some considerations that should be evaluated to protect your financial assets during these tumultuous times.

  • Actively review your asset allocation and asset diversification
  • Update your risk tolerance and your threshold for accepting market losses
  • Create new clarity for your time horizon to understand the purpose of funds and when you may need liquidity or income from the funds in any of your financial accounts
  • Research help from a trusted and independent financial professional and ask if they are a Certified Financial Planner™ (CFP)
  • Analyze asset values that have been impacted on your personal or corporate balance sheets
  • Investigate income replacement strategies to provide certainty for retirement income planning
  • Explore fiduciary investor services, which may play a role for high net worth clients
  • Confirm current insurance contracts cover the right amount of risk and that the benefit is competitively priced for the premium costs
  • Realize that do-it-yourself investing may require someone to periodically oversee your decisions

Strategies That May No Longer Be Appropriate for Clients Long-Term

Products that are confusing to understand or do not have transparency to the underlying strategy. If used, they should be reviewed with extra caution prior to investment.

Being Prepared to Navigate the Road Ahead

Only time will tell the true extent that the ongoing COVID-19 crisis will have on an economic scale, but finding advice that best suits your financial goals can help you be prepared. We encourage you not to make decisions in the dark, and instead, seek professional advice. Level Four Advisory Services, LLC, and The Preferred Legacy Trust Company have a team of over 100 professionals whose goal is to be proactive in steering our clients towards financial success by changing the way financial advice is delivered. We believe that everyone, regardless of where assets are managed or the size of their portfolio, deserves objective financial advice.

For help assessing the solutions and strategies available for your clients, reach out to Level Four and Preferred Legacy Trust to get connected and learn more.

Investment advice offered through Level Four Advisory Services, LLC, an SEC-registered investment adviser. Products are not FDIC insured and may lose value.