Investment Advisory Team
This month marks the ten year anniversary of the unofficial start of the Global Financial Crisis. On August 9, 2007, French bank BNP Paribas suspended redemptions from its subprime mortgage hedge fund. Stocks would continue to rally for two months, but the crisis soon spread. Within a year, Lehman Brothers collapsed under the weight of bad mortgage loans.
What if you were unlucky enough to have invested on the day the crisis began? Incredibly, your portfolio has performed well provided you stayed with your investment strategy through the crisis (table). Investors who panicked and sold during the downturn suffered bruising losses. This example is yet another reminder of the importance of patience and long-term perspective when investing.
Hefren-Tillotson Inc., is a leading diversified financial services firm providing investment and retirement plan management and comprehensive, financial planning through MASTERPLAN for individuals and businesses. The firms wealth management services are administered by Certified Financial Planner (CFP) professionals, Chartered Financial Analyst (CFA) Charter holders, attorneys, Chartered Life Underwriters, and CPA/PFSs. Hefren-Tillotson offers corporate services including 401(k) retirement planning, executive financial counseling, fiduciary reviews and workplace financial planning seminars. Founded in 1948, the firm is headquartered in Pittsburgh and has offices located in Pittsburgh, Butler, Greensburg, North Hills, and South Hills.
Disclosure:This report is based on data obtained from sources we believe to be reliable. Hefren-Tillotson does not, nor any other party, guarantee the accuracy or completeness of this report or make any warranties regarding results obtained from its usage. All opinions and estimates included in this report constitute the firms judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation to buy or sell the securities herein mentioned.