Frequently asked questions

Richardson Wealth operations & insight amid the COVID-19 situation

Just a few weeks ago, no-one could ever have imagined the large-scale impact of COVID-19 on our immediate way of life and the ability to conduct business across all industries, including ours. In times like these, we cannot underestimate our ability to work together and support each other. We continue to work hard to provide you with ongoing service as we adjust our working arrangements to keep Clients, Advisor teams, Colleagues and, therefore, our respective communities safe.

As the situation changes on an almost daily basis – and in some cases hourly – we want to ensure you are well informed. The following frequently asked questions may assist you in the first instance. Of course, if you have additional queries or need more specific information about your portfolio etc., please contact your Investment Advisor team. Thank you for your continued patience and support as we work through this together over the coming weeks.

Access & Accounts

1. What steps is Richardson Wealth taking to keep clients and colleagues safe from COVID-19?

Above all, our priority is to maintain the safety and well-being of Clients, Advisors and Employees. In line with public health recommendations, we have instituted a work-from-home policy for most of our teams throughout Canada until further notice. Only a small team of essential staff will continue to work from our Toronto head office. These measures are temporary and will not impact our ability to provide all Clients with the same outstanding service.

2. Can I meet face-to-face with my Advisor in the next month (March-April) to discuss my affairs?

We have recommended that all Advisors and their teams avoid face-to-face meetings with Clients as part of widescale social-distancing measures intended to limit the spread of COVID-19. Any pre-arranged meetings will therefore be postponed until further notice. BUT, this in no way prevents you and your Advisor from communicating as often as needed by phone, email and other online meeting platforms. We encourage you to reach out to your specific advisory team with any queries.

3. Can I access my accounts online?

You can continue to access your accounts via our online client portal, If you are new to using this system, you can begin the registration process by clicking here. Should you wish to send funds to your Richardson Wealth account(s), you can do so through online banking by setting up RF Securities Clearing as a payee. Additionally, contact your Advisor to set up electronic fund transfers which will allow us to send funds from your Richardson Wealth account to your bank account securely.

Markets & Investments

4. How will this situation impact my investments in the short and long term?

COVID-19 has created a great deal of uncertainty and therefore significant market turbulence. The short-term impact on all investments is clearly evident with stock prices and bond yields falling. Recent market gyrations amount to the fastest correction on record, followed by the fastest bear market on record as many major equity markets breached the -20% decline threshold during the week of March 8-13.

It is safe to say we are looking at overall global economic growth dissipating and potentially contracting for a period. However, over the long term, markets and investors are resilient as evidenced by the major events we have lived through over past decades and managed to thrive beyond. In recent memory, this includes the world financial crisis of 2008, the events of 9/11 and the market turbulence of year-end 2018. We therefore recommend you keep sight of your longer-term objectives and stay the course. The insight, ongoing due diligence and discipline of our Asset Management and Advisor teams help them to build and maintain portfolios that are appropriate for your risk preference. And, remaining invested over the long term is the best approach to profiting as investor sentiment returns, and to ultimately achieving your financial goals, including a well-funded retirement.

5. What materials are available to learn more about the latest market developments?

Richardson Wealth’s Connected Wealth team provides regular updates on markets as well as their insights on investment strategy and portfolio positioning:

Daily market commentary: Launch Pad

Weekly overview: Market Ethos

Monthly overview: Investor Strategy

Presentations related to Market Volatility from our asset management team and external fund management partners:

Picton Mahoney: The Great Interruption - Conference call on market volatility

PIMCO: COVID-19 Update: Market Impact and Implications

6. What should I keep in mind amid unusual situations like COVID-19?

The key to successful investing is getting invested and remaining so over the long term. The current situation is the exception rather than the rule and does not point to any systemic problems within the Canadian or U.S. economies. COVID-19 will pass. In the meanwhile, we reiterate these three critical strategies that are essential to riding out any market dips, however daunting:

A diversified portfolio. Incorporating different asset classes, industry sectors and regions is critically important to ensure your exposure to market losses is limited.

A long-term perspective. Remaining invested over a longer time frame is the best approach to achieving your financial goals. It will also help you understand that any market dip (termed a correction when the drop is over 10%) is short term and that markets always bounce back.

Avoid market timing. It’s tempting to imagine how missing the worst days and capturing the best days would improve your investment performance. However, the best days generally happen during the worst times, just when investors are considering selling. According to a JPMorgan study, “Over the past 20 years, six of the ten best days occurred within two weeks of the ten worst days.” (January 2, 2020). Repeated studies have shown that efforts to time the markets have reduced returns.

We continue to serve you

Andrew Marsh, President & CEO of Richardson Wealth has written a message to clients to inform them of the measures our firm is taking in response to COVID-19 to prioritize the health and safety of our Clients, Advisors and all Employees.

Read more.