BRP/Grenier Financial Services

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BRP/Grenier Financial Services
1441 Main Street, Suite 1050
Springfield, MA 01103
phone: 413-736-6712
fax: 413-736-6712
info@brpgrenier.com

News & Articles

Should We head for the Hills!?!

August 01, 2006

by R. Patricia Grenier, CFP®, CSA

Is there any good news anywhere in the world?

Israeli soldiers are kidnapped.  Israel responds by crossing the borders into Lebanon.  Oil just set a new record high on renewed worries over supply from exporter Nigeria's pipeline explosion.  The dispute between the West and Tehran over Iran's nuclear program continues with no resolution in sight.  North Korea thumbing its nose to the rest of the world and threatening to continue to develop its nuclear missiles.

On the domestic front, corporate earnings are coming in on the disappointing side.  The European Union fines Microsoft more than 357 million dollars.  The gloom on technology stock continues.

Apple, one of the Wall Street darlings' is at a yearly low.  As I write this, 9 out of 10 sectors are trading in negative territory.

And we will be heading into a Presidential Campaign.

Day in and day out we are hammered with negative news.  It's no wonder we want to take our money and head for the hills.  Whenever we make decision based on fear, it is usually the wrong decision and at the wrong time.

This is the time when we, as financial advisors, need to hold our client's hands and communicate with them.  I believe that it is time to take advantage of this decline to fine tune our investments, not to head for the hills.

The first step in protecting your livelihood is to make sure you sit down with your advisor or advisory team, (Financial Planner, Attorney and CPA), to define your goals, needs and put together a comprehensive financial plan.  This plan should include up dating wills, trusts, Durable Power of Attorney, Health Care Proxy, tax planning and a well defined long term investment policy statement.

This will serve as the blueprint for your financial and investment decisions.  Now there is no need to primarily focus on short-term events, but on your long-term goals.

This is the time to make sure your investments are well diversified and to take advantage of price weakness in sectors by adding, instead of withdrawing.

Your advisor will be able to analyze your portfolio to help you determine how you are invested, where you should be invested and will serve as a source of comfort to help alleviate your short-term worries.

Remember, you don't have to go through it alone - use your "Board of Directors" to get through these tough times.

When all seems at its bleakest, there is a silver lining.

Pat Grenier is a General Partner with BRP/Grenier Financial Services in Springfield, MA. Securities offered through Cadaret, Grant and Co., Inc., Member FINRA/SIPC. BRP/Grenier and Cadaret, Grant and Co., Inc. are separate entities.

Pat can be contacted by phone at (413) 736-6712, or email her at pat@brpgrenier.com

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Plant your first seed today.
Call 413-736-6712 for an appointment.
You will be our guest for the first consultation.

This article appears in the July 2006 issue of Western Mass Business Woman.

This article appears in the July 2006 issue of Western Mass Business Woman.