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A solid financial plan will survive the noise of 2020

Jodi Vleck, founder and CEO of Beta Wealth Group, comments on her firm’s perspective of the current volatility of 2020 and how to stay steady in any market condition

By Lauren Glendenning
Brought to you by Beta Wealth Group
Jodi Vleck, CFP®, Founder and CEO at Beta Wealth Group.
Election implications on the stock market

Join Beta Wealth Group for a Happy Hour to meet Jodi Vleck, CFP®-Founder and CEO, where she will be discussing potential election implications on the stock market.

When: Thursday, Oct. 29, 5 to 7 p.m.

Where: OP Rockwell, 268 Main St., Park City.

Due to COVID-19, space is limited and reservations are required. Please RSVP to victoria@betawealthgroup.com or call 858-207-3377.

A global pandemic, social unrest and a pending presidential election have made 2020 rife with uncertainty, but a strategic, long-term wealth plan could provide much-needed stability during trying times. 

Jodi Vleck, Certified Financial Planner (CFP®), aims to help her clients reach ultimate financial freedom through holistic, comprehensive planning. That means counseling them through tough times to ensure rash decisions don’t lead to financial catastrophes. 

“This is an industry where it really pays to hire a certified expert rather than attempt DIY investing,” said Vleck, founder and CEO of Beta Wealth Group. “It’s not easy for a DIY investor to remain savvy about markets and investing — managing wealth is a science.”

Vleck has expanded her San Diego-founded wealth management firm to the Wasatch mountains, moving here full-time with her husband and two sons after calling Park City a part-time home for many years. She’s excited to introduce her firm to the community.

“Beta Wealth Group is so much more than portfolio construction and management. We aspire to ensure that our clients truly understand what we are doing and why,” she said. “That is how we build trust. That is how we build life-long relationships.”

Managing economic overreactions

With so much volatility in the United States in 2020, Vleck educates her clients to plan for a successful future by considering the bigger picture.. 

“For us, our goal is not letting our clients emotionally react. We want them to think more like institutions,” she said. “Retail investors (the DIY crowd) tend to get out of the market almost habitually. It’s human emotion and it’s hard when the headlines are glaring.”

Being stuck at home during pandemic shut-downs has seemed to make it worse, she said, whereas in 2008-09, most people didn’t pay attention to the headlines unless it impacted them personally.

“I think the biggest mistake is trying to guess the market and therefore getting out,” Vleck said. “If you’re in a properly diversified portfolio, whether the stock market is doing well or bad, you should have something on the other side of your portfolio that’s working for you.”

When choosing a financial planner, do your homework

Beta Wealth Group founder Jodi Vleck has been recognized for outstanding wealth planning services by Forbes, Barron’s, wealthmanagement.com and others. She recently expanded her wealth management firm to Park City.

Vleck advises anyone looking for a financial planner to look for someone who’s going to put a comprehensive plan together rather than just pitch products. She said it’s important to use a Certified Financial Planner (CFP®) because they act as fiduciaries and don’t get paid commission. 

“I have no incentive other than to make sure my clients are positioned well,” she said. “My job is to present options and opportunities. Clients pay based on the assets we manage for them.”

For more information, visit betawealthgroup.com/park-city.  

Who will have the biggest impact on investments, Biden or Trump?

Despite what you read in the news, Vleck said the market is not reacting to biden as much as it did the other candidates.

Vleck now has her sights focused on the election results, which she has a suspicion won’t be known until later in the year or even early 2021. 

“I think not knowing the result of the election will create some chaos in the stock market; uncertainty is the worst for the market,” she said. “But, I don’t think it’s going to be a long-term pullback. We will find out who the president is, it’s not going to go on forever. And then the markets will have an opportunity to recover.”

Vleck added that there’s no precedent to suggest that the stock markets would rally or decline based on a presidential win by one particular party over the other.

“Be mindful of where you get your information,” Vleck said. “There’s a lot of sensationalized media out there. Don’t react to the day-to-day headlines.”

To help clients and the community prepare for how the election could impact financial management, Beta Wealth Group is hosting an open house event (see factbox).

Retirement concerns

Jodi Vleck has expanded her San Diego-founded wealth management firm to the Wasatch mountains, moving here full-time with her husband and two sons after calling Park City a part-time home for many years.

One of Vleck’s greatest joys as a financial planner is when her clients are able to retire and enjoy their success. Depending on a retiree’s situation, the kind of uncertainty we’re seeing in 2020 could have a big impact without a solid plan in place. 

“Most retirees are drawing from their investments, using their portfolios for income. When there’s a 30% drop in the markets and you start selling because you need to live on that income, it can have a major impact — especially if you’re taking those draws on a down market,” Vleck said. 

Beta Wealth Group will go to the drawing board with clients who may need to consider other options — such as taking social security earlier, going back to work or putting off that kitchen remodel — until the markets rebound. 

“We’ve been hosting calls as a firm every Monday to help provide clarity for our clients,” Vleck said, “to reassure our clients to stay the course with their financial plan.” 

Beta Wealth Group is guided by the core principles of Karma

Our values are united by one key philosophy — Karma. We believe that every action we take, or fail to take, has consequences. Karma as it specifically pertains to our business:

Knowledgeable exploration: Work together in seamless collaboration to discuss and define what’s important to each individual client.

Analytical resolutions: Use our experience and expertise to help clients formulate a healthy relationship with money, the foundation for successful planning and decision-making.

Respect: The way we take care of our clients first requires a relationship built on trust, which keeps our clients loyal and eager to recommend our services to others.

Meaningful Planning: Keep an eye on spending versus saving, and leave room to remap when clients encounter life’s unexpected changes

Accountability:  Be willing to accept responsibility with conviction, and hold ourselves to the highest standards of truthfulness and integrity

The information in this article is for informational purposes only. The information is not intended to be used as the sole basis of investment decisions and is not a recommendation to buy or sell. Recognition from publications should not be viewed as representative of any one client’s experience and should not be taken as an indication of performance by Beta Wealth Group and any of its clients.


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