A Special Message From Gerard Nash – Your Financial Planner

by Gerard Nash 0 Comments

I‘ve been taking a lot of calls from clients like you, these last two weeks. I understand you’re concerned about the market and the impact it’s having on your accounts. Many people are worried and rightfully so.

I’ve been through 3 of these downturns in the markets in my 23 year financial career. Dot Com 2000/ Financial Crisis 2008 and now the Coronavirus.

Markets will be volatile for the coming few months. Volatility can also include sudden increases in the markets. Back in December 2018, clients temporarily lost 12 to 15% right at the end of the year. Those losses were erased 2-3 weeks later by a sudden increase in the market.

The solution right now is NOT to make a move out of the market. Doing so is going to solidify the losses you have incurred in the last couple of weeks. I’m not saying this downturn will be erased in 2-3 weeks. What I am saying is if you go out of the market right now, you will not get a chance to be part of the market when it rebounds. Markets always rebound after a downturn. We don’t know when that will be, but we know it IS going to happen. If you have losses in your accounts right now, switching out of the market will only solidify your loss.

“Markets always rebound after a downturn. We don’t know when that will be, but we know it IS going to happen. If you have losses in your accounts right now, switching out of the market will only solidify your loss.”

GERARD NASH

If you find that this market turbulence was too much for you to handle, we should meet after the market rebounds, to see how much risk you are willing to absorb going forward.

However, if you find this current volatility too much to bear, perhaps the market isn’t the right place for you to save. Perhaps guaranteed products like GICs and annuities are more suitable for you.

Like many, I’ll be operating safely from home during the coming weeks. Please feel free to call me on my cell at 709-690-7458 or email me at gerard.nash@f55f.com to discuss any concerns you may have.

As always, we will persevere and get through these challenging times together.

Yours in service,

Gerard Nash, B.Comm., CFP ®
Founder

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Gerard Nash

Gerard graduated from Memorial University of Newfoundland in 1996 with a Bachelor of Commerce Degree. In 2001, he earned the designation of Certified Financial Planner (CFP®) from the Financial Planning Standards Council of Canada. He holds many achievement awards from Freedom 55 including Wealth Advisor of the Year and Corporation of the Year. Gerard is passionate and thorough in building and protecting the wealth of existing and new clients. His practice is in it’s twenty-third year with London Life and Freedom 55 Financial (now Canada Life). In 2019, he incorporated his business under the name 'Principal Planning' and invited additional financial planners and advisors with the same commitment and competencies to join him in providing quality financial advice. Gerard is licensed in the provinces of Newfoundland and Ontario. He welcomes new financial inquiries, and promises excellent, honest advice. Gerard hails from the Cape Shore area in Newfoundland. He lives in St. John’s with his wife, Sharon, and their four children, Joshua, A.J., Connor, and Elizabeth. He is a huge basketball fan and can usually be found coaching and watching his kids basketball games on the weekends!