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The following is in response to our press release last week on changes in asset allocation. A full copy of the article is here.
Dear Editor:
I couldn't disagree with you more when you say advisors are demonstrating confidence in the markets to provide superior results over the long term. The correct statement should be that advisors are acknowledging their unwillingness or inability to take any action to preserve their clients' assets. A client should fire any advisor who has them in equities at this time. It didn't take a genius to see what was happening in the market in May, June, July and August of 2007 and to take action. Preservation of assets is not "market timing" it is our obligation.
Christopher P. Wadley, President
Key Financial Group of Jacksonville, Inc.
Jacksonville, FL
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