We hope this finds everyone well.
Investment markets are volatile and seemingly uncertain but we are holding steady, remaining diversified with a broad mix of cash, stocks and bonds, and staying focused on processes that have consistently served us well in both up and down markets over multiple market cycles.
At this time, we want to also take a moment to update you on steps we take to prepare for potential business disruptions such as ones that might occur due to COVID-19.
A few times each year, we mandate that all employees work from home to fully test our ability to remain completely functional from an administrative, client service and investment perspective. On these days, our Chief Compliance Officer coordinates with our Regulatory Counsel and runs trading, investment fund changes and allocation rebalancing, and client service drills around matters such as transfers of funds. We then document any issues and make changes to plans if we find areas that need improvement.
We did this again March 3rd, even testing our team with a few complex transactions and scenarios without telling them that it was a mock drill in advance. All went well with no errors and we maintained constant communication through secure chat rooms and live group and private video conferencing that were open all day. Office phones were also routed directly through Verizon to our computers, as were voicemails. This also went smoothly.
To make sure we remain prepared, we ran the same exercise on March 12th, with even more enhanced systems that we had installed in our homes. All went smoothly again, with no issues or breaks in communications or operational abilities.
These are unsettling times for everyone related to this serious public health issue and we wanted to let everyone know what we are doing to be prepared.
Our thoughts and well wishes are with all who are impacted around the globe by COVID-19.
If you have any questions or would just like to talk please call or email any of us at the following:
Preston McSwain – Managing Partner
James Cornell – Managing Partner
Erik Marr – Partner, Chief Compliance Officer
Cristina Adams – Partner, Head of Client Service and Technology