The global pandemic that we are currently experiencing has thrown into question many dynamics. As I reflect back on my first blog entries of the year, I stumbled upon a draft blog entry dated April 8th. I wrote about leaning into risk, the optimism I have in science and in the pursuit of innovation for the sake of our survival long-term. It touched on the importance of rebalancing a portfolio and how in working with a professional, you can save your most precious resource: Time.
Yesterday on May 27th, the United States crossed the 100,000 mark for official fatalities from COVID-19. Globally we have yet to see the full extent of this pandemic. Our lives as we once knew them are now a distant memory, and time itself, both in terms of realizing the fragility of life, and with whom to spend it – has shown itself to be invaluable.
Spring Rebound
The month of April, as we now know, was marked by a strong rebound in equity markets, risk assets caught a bid and rebounded strongly. After a historic March, we met an equally historic April.
The “Monday morning quarterback” would argue that equities had to rebound following the precipitous drop from the peaks of late February, but the outlook was none too clear, which is why a strategy is essential. Remaining on the sidelines and not executing on a measured plan of investing better had been worth the peace of mind, just the same as the possible overexposure to equities leading up to the crisis would have cost you. In industry parlance, it is during periods of volatility where alpha is generated, and the ability to outperform the broad indices over the long term is derived from. In the past three months, putting capital to work, rebalancing portfolios agnostically, and sticking to the process became even more valuable. It also marked when investing responsibly came of age.
The ability to work with clients in assessing their level of tolerable risk was no more apparent that during this spring of 2020. Individuals now equipped with a roadmap in assessing their complete financial picture and realizing their investments are optimized for the long-term, to the advice I have given on life insurance during a time when we have been reminded of our mortality, this period has been a learning and reaffirming experience.
When I embarked on the journey of entrepreneurship in establishing my advisory practice, I did not envision how quickly the lessons of my previous experiences would prove invaluable. Whether the scientific appreciation for the range of vaccine and therapeutic developments I gained through my physiology studies and own scientific research, or the transition to responsible investments that has proven itself through this crisis. I have had the opportunity to leverage technology in ways that allowed me to reach a greater audience through webinars and social media, and lean on my time as a bond trader to explain the nuances of what credit markets were going through (and continue to experience) at the height of the liquidity crisis.
What’s your “why”?
During this same period of time, I also did not anticipate the reaffirmation of my “why”. As an advisor, I was able to guide clients through market volatility and events that in the Great Financial Crisis of 2008-2009 took months, occurred in a span of weeks. The sense of accomplishment I am getting in helping clients realize their objective, giving advice that is personal to their situation, and entering into conversations during which time I better understand what is important is priceless. Once again, I did not envisage how quickly this reward to make itself apparent to me.
Delivering a total wealth management experience would not be possible were it not for the extensive network within RBC I have managed to build in my short tenure. Identifying the partner to whom I can entrust my client to get the personalized attention they deserve is a benefit that adds value. It is why I share the recognition in the testimonial shown below with my colleagues with whom I collaborated.
My hope is that in reading my blog postings, attending the webinars I host, and the articles across social media platforms you get a sense of my approach and my “why” – to deliver on your objectives, guide you through uncertainty, and bring you peace of mind is how I can make a difference.
Client testimonial
[translated from French]
“Gabriel Flores is a talented and dedicated investment advisor who demonstrates great professionalism. We are in regular contact as Mr. Flores offers a personalized and authentic business relationship, which is essential in my opinion. He was able to advise me in the management of my assets impartially and in my best interests. My diversified and responsible investments have remained solid and have fluctuated very little during the COVID-19 crisis. During this period, Gabriel also supported me in the realization of my real estate project (another of his areas of expertise) and everything related to it such as the mortgage and mortgage, life and home insurance. Despite the current economic crisis, I find myself in a better financial position. Above all, I came away with great peace of mind - very precious in these uncertain times!
- E. Gaudet