DWM Operational Plan and Helping Those in Need
Based on the dramatic action of the Federal Reserve this Sunday, I was asked by KCBS what these policies means for the economy and consumers. You can find that interview here (I will add link here).
Topic 1: DWM Operational Plan (We Are Open and Watching Out for You)
It’s a crazy world right now as I’m sure you see from the news headlines. I myself have been asked to talk to TV and radio countless times as the world is concerned about the unknown during this health crisis. I understand that this is scary.
Our responsibility as your advisor is to be cautious and thoughtful. Our focus is on helping you through these difficult challenges. I can assure you in the past four decades there have been many frightening times that have caused great alarm for investors. We’ve been through these times together with those we serve and we’re going to do exactly the same thing now.
We are working harder than ever to watch out for you. You might find the below reassuring to confirm we have taken steps to continue our efforts for you.
DWM is Fully Operational
Do not worry that this crisis is impacting our ability to watch out for you. We are fully operational. You can count on our entire team to remain working full-time on your behalf.
Here’s a few steps we have taken to make sure we can continue to provide our advice and service to you:
- We have an emergency continuity plan in place that has been part of our preparedness efforts.
- The vast majority of our team will be working remotely, and our technology systems are state-of-the-art and allow us to continue to operate as if we were sitting side-by-side.
- A rotating group of team members will be at our physical location and include members of each department.
- Our trading efforts will not be impacted at all.
- Our research analysis and investment strategy will not be impacted at all.
- Our advisers are still available to you and their great efforts are still at your disposal.
- Our operations team is ready to help you with any needs you might have.
Lastly, I have no intention of traveling to Asia or anywhere else. I am here leading the company as well as coordinating investment strategy with my Chief Investment Strategist, Craig Gentry, and our entire research and trading team.
Bottom line, we are prepared and have made the adjustments necessary to continue to watch out for you. Call us. Email us. We are here for you.
Topic 2: 1000 Kids a Week
As you probably know, schools are beginning to shut down for several weeks as the community grapples with this virus outbreak. The certainly creates hardships on parents and impacts children’s ability to continue their academic efforts.
For some, it’s more difficult than that. For some, schools provide a way to distribute lunches to children unable to afford healthy meals. This is an unintended consequence of school closures.
Recently Stephen Curry (NBA Golden State Warriors) announced that he would be assisting schools with providing lunches to children currently not able to attend class because of required shutdowns. In his press release, he stated he invited others to join with him in helping him in this effort.
OK Steph, we’re in.
Beginning today we will provide resources to feed 1000 children lunch on a weekly basis until schools reopen. This is in keeping with our belief as a company that it is our responsibility to be a caring citizen for the community that needs assistance.
If you’d like to join that effort, consult your school district. They will have ideas on how you can support their efforts.
Tomorrow’s Video Update
As news continues to develop, the impact of the current virus contagion continues to impact the economy and everyday life. Markets will continue to be volatile and uncertainty will remain high.
Twice a week you will hear our perspective on the world as well as our response (one video, one written). We will continue this as long as needed. I will provide regular updates as we have always done in moments of crisis to keep you informed of what’s happening and what we are doing. Remember that our video updates are also housed on our DWM Portal.
In tomorrow’s update I will provide my perspective in video format on the current news related to the markets and volatility, the dramatic Fed action taken this weekend, and other comments regarding whatever news emerges in the next day or two.
I encourage you to feel free to reach out to us if you have any questions or thoughts. We are here for you.
The opinions expressed herein are provided for informational purposes only and are not intended as investment advice. All investments involve risk, including loss of principal invested. Past performance does not guarantee future performance. Individual client accounts may vary. Although the information provided to you on this site is obtained or compiled from sources we believe to be reliable, Destination Wealth Management cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. Any links to other websites are used at your own risk.