The uncertainty of the times has been reflected in the markets amid the coronavirus crisis. During these times, investors are seeking sound advice from experts on how to manage their investments through an unprecedented situation.
Barron’s annual ranking of the Top 100 Financial Advisors spotlights the leading individual financial advisors from across the U.S. Advisors on the 2020 Top 100 list boast an average tenure of 33 years, making these advisors a resource for those seeking advice during this time. They’ve experienced the ups and downs, and know that on the other side, declines will continue to become recoveries. This perspective is one of the intangibles that the advisors on Barron’s Top 100 Financial Advisors ranking bring to their clients.
With over 40 years of experience in the industry, Cassaday & Company, Inc. Chairman and CEO Steve Cassaday was asked by Barron’s to share his insights on how investors can best weather this storm:
• “Bear markets do not destroy wealth,” says Stephan Cassaday, “How we behave during bear markets is what destroys wealth.” He and his team are telling clients to “hold on to the side of the kayak.”
• In the midst of the coronavirus crisis and its attendant economic and capital destruction, good advisors are balancing realism with positivity. “Shelter-in-place may work to flatten the curve, but it is also flattening the economy in ways that are unprecedented, unsustainable, and very worrisome to us,” Cassaday says.
• Cassaday uses a timely simile to keep clients from fiddling with their investments. “Your portfolio is like your face: Don’t touch it!” he says. “When markets inevitably decline, rebalance your portfolio but leave your money alone and let it percolate, because declines become recoveries.”
To read the entire Barron’s article (published April 17, 2020) featuring Cassaday’s quotes, click here.
For more on the Barron’s Top 100 Financial Advisor ranking, click here.