Keeping Our Employees Safe and Serving Our Clients as the COVID-19 Situation Evolves


As we finish up a very challenging week, I wanted to reach out to make sure everyone is safe and has what they need from their Fiduciary team. I also wanted to update you on what we are doing at Fiduciary Trust to ensure our business is running smoothly.

Last Friday, our management team made the call to enact our full business continuity plan for this week. We had no incidences of infection from the coronavirus but we felt it was a prudent approach to test our plans to the fullest.

As a result, this week we had over 50% of our staff working remotely to ensure we could continue to operate and advise effectively. We have been able to handle the wires, instructions and transactions brought on by the market volatility in good fashion. A big credit goes out to all of our administrative and support staff (many of whom you know by name and who have been faithfully dedicated to servicing you for years) and the key technology capabilities we have in place that allow our teams in St. Petersburg, Florida, Salt Lake City, Utah, Poznan, Poland and Hyderabad, India to help support your teams in our key offices and those who are working remotely.

Next week we will be rolling out an "e-signature" capability to allow you to sign important documents electronically from anywhere. This will help to ensure any important documents continue to move forward.

The markets have certainly been volatile this week, and as we finished today's trading day the Dow shot up nearly 2,000 points, becoming the market's biggest rally since the great financial crisis. Hopefully you have had an opportunity to listen to our recent market update audio segment from our Chief Investment Officer Ron Sanchez, on the key reasons for the market shock and our view on what it means for the near term.

As a client of the firm myself, I feel very secure knowing that the investment team selects securities in our portfolios with a quality bias (strong cash flows and leaders in their industries), that we came into the year cautiously and defensively with elevated cash, and most importantly, that our portfolio managers understand what we own and why we own it. There certainly will be opportunities that are created as market volatility continues.

I feel very secure with our investment approach and the technical skills of our portfolio managers who can move nimbly in markets like these. So for now, it's been a long week and I am very proud of our team and very thankful for the confidence you have placed in Fiduciary Trust.

The information provided is intended solely to provide general information. The information and opinions stated may change without notice. The information and opinions do not represent a complete analysis of every material fact regarding any market, industry, sector or security. Statements of fact have been obtained from sources deemed reliable, but no representation is made as to their completeness or accuracy. The opinions expressed are not intended as individual investment, tax or estate planning advice or as a recommendation of any particular security, strategy, or investment product. Please consult your personal advisor to determine whether this information may be appropriate for you. This information is provided solely for insight into our general management philosophy and process. Historical performance does not guarantee future results and results may differ over future time periods.


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