I hope everyone is well and you've been enjoying this nice weather we're having. If this keeps up, I'll have to put the boat in early. I'll probably hold off, because that will just about guarantee that we'll get one more hard freeze!
Last month I discussed the DOL Fiduciary Rule that is scheduled to go into effect on April 10th. It now appears that there will be at least a 6-month delay in order to conduct further research and do due diligence on the proposed law and its effect on the financial services industry, as well as consumers. Many of you know that JDS Wealth Management already operates under the fiduciary standard, but if and when the law is implemented there will have to be new procedures put in place - even for those already acting in a Fiduciary capacity.
Banks, brokerage firms, Registered Investment Advisors, and insurance companies are all keeping a close eye on the DOL law outcome as it could affect product development, agent training & relicensing, profit margins, marketing, etc. We'll keep you posted with any relevant updates.
Another thing we're hearing a lot of lately is that people are worried about a market correction. One the most asked questions we get at the office is this, "since the stock market has had such a good run, should we take some money off the table". Even though many are optimistic that the market will continue to rise, many are also aware that we've now been in an 8-year bull run. That's twice as long as the average bull market, and many folks are concerned there will be a major correction. I wish I had the proverbial "crystal ball" to give you the answer, but nobody does. Here's what I do know - DON'T RISK MONEY YOU CAN'T AFFORD TO LOSE! Have an appropriately blended strategy, don't get greedy, and have a written-out plan like our "Chart Your Course" plans. Balance out risk, guarantee a certain amount of income, allow for some growth, and most will be fine.
Enjoy this month's articles, and we'll be back at you next month.
And, as always, remember - T
he purpose of the money dictates where you put it.
Until Next Month,