Helping Our Clients and Communities Navigate the Financial World Amidst the Coronavirus

Let us help guide you through this unprecedented time.

This isn’t the first time that volatility has roiled the stock market and sadly it won’t be the last. The coronavirus and its impact on our way of life is certainly creating fear, uncertainty and disruption. This is not only because of the economic and financial turmoil, but also the health and safety of loved ones affected and those on the front line of the pandemic.

No one can reliably predict the arrival, depth, or duration of bear markets, but that is not an excuse for us all to bury our heads in the sand. Patience can be the most prudent and most profitable response during a downturn, but patience doesn’t have to be passive. In fact, many investment and financial planning techniques are actually more meaningful during a bear market. That is why our financial advisors, portfolio managers, financial planners, investment analysts and support staff are all working diligently, actively, and opportunistically to protect and improve our clients’ long-term financial security.

Rest assured that Parsec remains diligent in exploring every opportunity that emerges amid the market turmoil. We will work hard in the days and weeks ahead to make sure our client portfolios remain well diversified so that we can navigate the near-term turbulence and remain in position for the recovery when it comes.

  • Existing clients: Please contact your financial advisor with any questions you have in the days/weeks/months ahead.
  • New clients: If you need an advisor to discuss your personal situation and how we can help through this difficult time, please fill out this form and we will be in touch asap.

Stay healthy and safe everyone!
The Parsec team

Helpful content:

Will the Coronavirus Spark a Recession, a Depression or What?
Read Chief Economist Dr. James F. Smith’s in-depth article on the economy and the just-released unemployment statistics to better understanding the numbers behind the headlines.

What You Need to Know About the CARES Act
Read Senior Financial Advisor Betsy Cunagin’s overview of the CARES Act as it relates to rebate checks, RMDs and charitable contributions.

Getting Assistance on Existing Loans or Obtaining a New Loan in the Wake of Coronavirus
Read Financial Planning Strategist Terry Redman’s guidance of how to defer payment on existing personal loans or mortgages and/or obtain new capital in the form of loans.

Tax-Loss Harvesting Amidst Market Turmoil
Read Senior Financial Advisor Michael Baughman’s take on how market declines like the one we are currently experiencing present great opportunities to take advantage of cheaper asset prices and why almost everyone with a taxable account should be harvesting tax losses right now.

Ten Things You Can Do to Protect Your Accounts from Fraudulent Activity
Read about scams and fraudulent activity on the rise and learn how to best protect yourself.

Parsec employees are dedicated to helping our communities through this difficult time. To that effect, we have donated $15,000 to helping the following non-profits that are actively and efficiently responding to the dire needs of those around us: