Seven Bay Area counties, including Marin and Contra Costa, where Litman Gregory’s Larkspur and Walnut Creek offices are located, have issued a mandatory order to “shelter in place.” We want to assure our clients that our team remains available and ready to offer support and assistance. Litman Gregory maintains an active, up-to-date business continuity plan which has prepared us well to support our client service and business operations during this complex and unusual period.
Your Investment Advisory Team
Our investment and advisory teams are entirely focused on working together to manage our clients’ portfolios and support your financial well-being through this dramatic period. We are maintaining our core investment discipline including taking advantage of market declines to make portfolio trades that we believe position our clients for stronger future returns.
Our research team is in close touch with managers we use in our client portfolios to understand how they are operating both on an investment front and in terms of their own business continuity and as always we are able to draw from a broad field of specialized experts whose research views can complement our own.
We encourage our clients to be in touch with their advisor and we are reaching out as well to share information and be of support. And advisors and client services staff are here and prepared to continue to help clients who have cash flow needs from their portfolio, or income tax information needs, as normal.
Litman Gregory Business Continuity
Litman Gregory has long maintained multiple offices with colleagues working from a variety of locations at any one time, depending on client and business needs. We are very accustomed to working with remote teammates. We have portable computers that can be docked in our at-home workstations and we are experienced with remote meetings and video conferencing. Our phones can be set to ring to our personal lines at any time. We can access our systems and files remotely through a secure virtual desktop.
As a result of this experience and preparation, we were able to quickly reorient the company to remote work starting on Tuesday March 10th. Following the March 16th “shelter in place” directive, we closed our Walnut Creek and Larkspur offices and fully redirected all work including phones, mail and printing to remote status. At this time the directive does not include Stockton so our office there remains open until further notice.
We recognize that everyone in our community is managing through new and unfamiliar circumstances. Please know that as a firm, we are committed to safeguarding the best interests of our clients and our client-team and to supporting one another through this challenging time.
Why Is the Market Still Going Up When COVID-19 Risks Remain?
Even as the rate of unemployment remains high, COVID-19 continues to spread in the U.S., and economists forecast a huge drop in economic activity, the stock market continues to rally. We remind our clients that market prices reflect a consensus view about the future and that maintaining a disciplined investment approach is the best way forward.
Why is the Market Going Up When Economic News Looks Grim?
Our clients, and investors broadly, have been asking this important question: How do we reconcile the recent stock market gains, particularly in the United States, with the poor state of the current economy and the weak outlook? In this post, we explain the variables that impact investor behavior and respond to why financial markets can rally in the face of negative news.