Some Additional Information For You: Another Update From Your Team

We are making progress with the transition of client accounts to Schwab and would like to provide a few updates:

1. Emails from Schwab:

Many of you may be receiving email notifications from Schwab regarding a variety of items such as electronic document delivery or confirming account information changes.

These emails are a part of the normal account opening process, but please contact us with any questions you may have.

2. Asset transfers:

Once your new accounts are open at Schwab, it will take five to seven business days to actually transfer your assets from Wells Fargo to Schwab. If you had online access at Wells Fargo, you will continue to have that access available until the day your accounts transfer. Once your accounts are in transfer, we will be able to assist with any questions.

3. Notices from Wells Fargo:

Many of you have received a letter mailed in error by Wells Fargo stating the advisor on your account has been changed. Please disregard this notice.

Thank you again for your support as we make this transition. Please let us know if you have any questions.

3 Things To Remember: An Update From Nachman Norwood & Parrott

At Nachman Norwood & Parrott Wealth Management Consultancy (NNP), we are completing the final steps to become a Registered Investment Advisor. We look forward to the benefits it will provide to our clients and our staff.

We are committed to making this process as easy as possible for you, our valued clients. To do so, we would like to share a few reminders effective May 1, 2018:

1. Email

When emailing our team, please be sure to use email addresses that end in @nnpwealth.com.

2 Deposits

Until mobile access is available, please either mail or bring any deposits to our office. Deposits should be made payable to Charles Schwab.

3. Online Access

New and improved online access is underway. We will provide specific online access instructions as soon as it is available, but in the meantime, please contact our office with any questions.

As always, our team is here to help you every step of the way. We are very grateful to each of you for our success thus far. We appreciate your continued support during this process.

Market Update from Nachman Norwood & Parrott

Never any fun but necessary!

We have obviously seen a short and quick decline in worldwide equity markets during the month of February.  If you have heard us over the past months, and for that matter years, we have been preaching caution as the markets have reached one new high after another.  When these events take place, everyone spends lots of time speculating and analyzing why.

In our view, the why is quite simple.  Markets do not go straight up.  As the old saying goes, it’s two steps forward and one step back.  We have been in a 9-year bull market that had risen approximately 295%*.  This run has been highlighted by an almost uninterrupted break over the past 15 months.  As we have communicated in the past and shown in charts, the market on average has a 14.5% decline every year!* Most of those years end positively.  It has been quite some time since we have had a pullback at all.

At this point, our “deep” analysis says the market is just letting a little of the speculative air out.  Even though we never like it, this is better than an uninterrupted bubble that ends in greater pain.

Give us a call if you would like to talk further.

*Source: JP Morgan