Another factor when creating a plan is having an “emergency fund.” The purpose of this fund is to have liquid cash on hand so you can use it in times of financial distress. Financial distress might be losing a job, major illness, or in this case market volatility. Implementing this into the plan is essential because it serves as a cushion during distress therefore avoiding selling securities during these volatile times. One thing to remember is this will not be the last market correction we will go through, and you must be prepared whenever the next one occurs. I am a visual person, and what I personally like about our financial plans are that they show clients real life “what if” scenarios. “Hope for the best, expect the worst,” as Benjamin Disraeli, Prime Minister of the UK announced back in 1833. We plan for this and everything in between.
As I was writing this article it made me think of one of my favorite movie quotes from Jerry Maguire, “help me, help you,” which I believe to be the best relationship between the client and advisor. With that, I want to emphasize the importance of our Financial Planning team. At Apriem, financial planning is included in your wealth management fee. We are unlike many other registered investment advisors since most firms charge separately for planning services. Please reach out to our team at financialplanning@apriem.com. Chris, Megan, and I are here to help you and your family attain financial freedom.
– Cole Ducote, AIF®
Disclosures:
Advisory services offered by Apriem Advisors (“Apriem”), a registered investment adviser with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940. Any reference to or use of the terms “registered investment adviser” or “registered,” does not imply that Apriem Advisors or any person associated with Apriem Advisors has achieved a certain level of skill or training. Apriem Advisors may only transact business or render personalized investment advice in those states and international jurisdictions where we are registered, notice filed, or where we qualify for an exemption or exclusion from registration requirements. For complete information about our firm, please refer to our Form ADV Part 2A, 2B and CRS at any time.
All charts and data from Bloomberg unless otherwise indicated.
The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. Past performance is no guarantee of future results. The reader should not assume that investments in the securities identified were or will be profitable.
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