Novi Wealth Partners is monitoring the impact of the Coronavirus. Although, the impact of this disease will affect each of us differently, we would like to take this opportunity to discuss three areas where we are choosing to focus our attention: (1) your health and the health of Novi Wealth employees, (2) your personal finances, and (3) Novi Wealth preparedness.
Years ago, our firm tagged a line: “your greatest wealth is health.” This motto still stands true today. We are not health experts, but we are familiar with some of the concerns with the spread of Covid-19. Please take time to monitor the Center for Disease Control (CDC) website for information and any action you should be taking to minimize any personal exposure.
At Novi Wealth Partners, we established a work from home policy to cover various natural dis
asters and having that in place ensures that employees have the necessary tools to work efficiently from anywhere, at any time. To protect the health of our employees, we will be implementing the work from home option as of Monday, March 16th. As a result, we will be utilizing the solutions in place to interact with our clients virtually. This has been beneficial as our clients relocate away from the Princeton area and is available to all clients, especially if you choose to practice “Social Distancing” to reduce your risk of exposure. Please be assured that will be available to you and we can do in-person meetings on an as needed basis.
Novi Wealth clients have a few distinct advantages over those that work with other investment management firms. We perform some activities that are not always a part of the investment conversation. We go through the financial planning process with almost every client. We begin every relationship with investment education and continuous updates as we find information that will add value. From this, we draft an investment policy for every client. These activities are designed to help you become a better investor and provide confidence during uncertain times. We do not know when the bottom of the current decline will be, but it is never a good idea to change your investment plan at the height of panic. For most clients, doing little or nothing is the best plan. For instance, leaving your bonds to meet cash needs as they arise. This is a natural form of rebalancing. For some, continuing the rebalancing strategy by selling bonds and buying stock can be prudent. This is determined on a client by client basis.
The partners at Novi Wealth are planners through and through. Not only do we make sure every client is in good standing, we are continually reviewing our own continuity plans, so we are prepared for uncertainty. We are fiscally conservative with our company finances and after going through 2 recessions as a company, we are keenly aware of the financial needs for our operation. We have prepared our company as we would prepare you or your family.
We remain available for daily inquiries for your planning, investing, or anything else mentioned above. If you have any questions about your personal matters or our Business Continuity Plan, please feel free to give our office a call.