Dear Clients,
In uncertain times, such as these that we’re experiencing now, I feel no communication is too much. That is why I’m taking a moment to reassure you about the steps we’re taking at Kaydan Wealth Management to help keep all of your portfolios secure, to maintain regular and effective operations at the firm, and to remain meaningfully engaged with each other and each of you.
Smooth Operations with a Safe and Healthy Team
Over ten years ago, we expanded into two offices and at that time, we invested significantly into technology that would ensure both offices communicate and operate seamlessly as one. In recent years, to help prepare for unanticipated events and make it easier for our team to get more work done outside of the physical office, we’ve upgraded technology and increased security.
As I write this, our entire team of 15 members is successfully working full-time from the safety of their homes. All KWM team members are able to receive and place calls from our KWM phone lines and personal extensions, participate in video conferencing, share screens, use internal messaging, and operate in the programs and files necessary to serve you. We are continuing to use the United States Postal Service to send and receive mail and have made arrangements for the mail to be checked and processed as usual on a daily basis. In addition to our regular weekly cleaning service, we’ve also implemented new procedures for sanitizing workspaces and common areas.
Keeping You Informed
While communicating internally and operating seamlessly off-site is important, communicating with you is just as much of a priority. Since this is uncharted territory, we are adapting as we learn new information. We will continue to keep you informed via email, but I encourage you to visit the KWM blog often as we are using it as a hub for all information as it relates to COVID-19 operations, precautions, and commentary on the economy and financial markets. You can find our blog by visiting www.KaydanWealth.com/Blog.
Safeguarding Client Portfolios and Finding Opportunities
We understand that there is a lot of uncertainty around the path of the virus and its impact on economic growth and the financial markets.
Although the COVID-19 peak in the U.S. is likely still a few weeks out, we feel encouraged about both the initial fiscal stimulus to help cushion the economic shock and the central bank’s liquidity injection to relieve stress in the credit markets.
Though the government-mandated shutdown will seriously impact the economy in the second quarter, we anticipate a strong recovery in the fall.
Economic forecasts run the gambit with the most pessimistic views looking for both a 30% unemployment rate and a similar drop in second-quarter GDP. Volatility will remain with us for the near term as market stresses are revealed and fear of the virus spread continues to grow. We are hopeful that markets could begin to re-price for the recovery soon as we approach the peak of infections, and businesses are better able to offer earnings guidance. At that point, our Investment Policy Committee recommends exposures to higher-quality assets such as U.S. large-company stocks and investment-grade credit. In every market, those managers with high levels of un-invested dry powder will provide flexibility to help their portfolios through the difficult weeks to come, and the potential to seek out opportunities when the time is right.
In Closing
Despite forecasts showing the peak of those infected by COVID-19 still a few weeks out, we are comforted to learn that symptoms are mild for nearly 85% of cases. But it remains imperative that we protect the vulnerable among us – I trust you are doing the same with your own loved ones. We will continue our efforts to serve you remotely and keep you informed. In the meantime, please do not hesitate to reach out at any time, for any reason.
Sincerely,
Jim Kruzan, CFP®, CRPC®
Founder and Senior Wealth Advisor, KWM
