Recent weeks have seen some extraordinary moves in the financial markets, as the world reacts to the spread of COVID-19. Please know that we are closely monitoring current news and economic reports, and we are committed to supporting you through this season. Feel free to contact us any time, for any reason. We are here to help.
Welcome, we’re South Star Wealth Management, a financial organization in Victoria, Texas. We understand that individuals face unique challenges as they prepare for retirement. We can help take the mystery out of preparing for today and tomorrow. Whether your goal is preparing for retirement, college savings, or estate strategy, our personalized service focuses on your needs, wants, and financial goals and objectives. Our professionals have years of experience in financial services. We can help you address your needs of today and for many years to come. We look forward to working with you through all stages of your life.
We appreciate your patience during these interesting and sometimes challenging times! We hope you and your family are well. As you are no doubt aware, we have been open but on a conference call basis and with limited client traffic for the last few weeks as we complied with the State mandated restrictions.
Starting Monday, May 4, 2020, we will reopen our offices to our clients while again, adhering to State mandated guidelines. In an effort to continue to be cautious for your well-being and health, we will continue to conduct client meetings via conference calls unless a face-to-face meeting is needed. If you wish or need to come to our offices, we ask that you consider wearing a cloth face mask and practice social distancing, maintaining six feet between you and others in the office. Please give us a call if you would like to schedule a meeting with us.
We appreciate your understanding as we cope with COVID-19 guidelines. But most of all, we appreciate the trust and continued confidence you have placed in us. You, your family and businesses are our priority and we are here for anything you may need.
Melanie, Rodney, Caleb, Thomas and Russell
South Star Wealth Management, LLC
A diversified portfolio does not assure a profit or protect against loss in a declining market.
Russell Marshall Managing Director South Star Wealth Management One O’Connor Plaza 101 W. Goodwin Ave, Suite 1050 Victoria, Texas 77901 Office: (361) 233-0088 Mobile (361) 649-9976 Main: (361) 233-0080
To Our South Star Family,
As financial markets react to the global spread of the COVID-19 virus and anxiety levels increase, we want to provide perspective on the situation from Cetera® Investment Management to help you cut through the noise.
Investors are rightfully worried about the virus, as the global economy had already been rattled by the 2-year U.S.-China trade war, as well as the recent oil price war between Saudi Arabia and Russia. Social distancing is having a clear and direct impact on both the supply and demand sides of the global economy. Potential travel limits, factory closings, and school closures impact the supply side, and fewer trips to malls, restaurants, and sporting events impact the demand side and result in lower consumer spending. Sharp stock market drops also contribute to lower consumer demand as household wealth is impacted.
It is too early to tell how much lower stocks will go, or when the market selloff will end, but we do see signs for optimism. Areas of early virus impact, like China, have already started to return to normal. And the U.S. consumer, housing and services market were healthy before this pandemic began. Lower gas prices and the interest rate drop will provide further relief for U.S. consumers—as will any additional economic stimulus from Washington.
While we do not expect volatility to disappear in the short term, we advise you to remain focused on your long-term goals and ensure your investments are diversified to avoid having too much risk exposure to one asset class or security.
Your well-being is of foremost importance, and our team hopes you and your family are taking all necessary precautions to remain safe. We will continue to monitor the economic and market implications of the COVID-19 pandemic and send you updates as soon as they are available. If you would prefer to avoid a face to face meeting and travel during this situation, we stand ready to meet with you by teleconference. Don't hesitate to call us and discuss this option. We stand ready to help!
If you have any questions, please do not hesitate to contact the office.
Russell MarshallManaging DirectorSouth Star Wealth ManagementOne O’Connor Plaza101 W. Goodwin Ave, Suite 1050Victoria, Texas 77901Office: (361) 233-0088Mobile (361) 649-9976Main: (361) 233-0080
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