Wealth Insights

How Waldron Private Wealth is Maintaining Culture and Office Morale While Working from Home

At Waldron Private Wealth, we have four “culture pillars” that we pride ourselves on and use as guideposts to develop our intra-company mindset:

  1. We Are A Team
  2. We Are All Entrepreneurs
  3. Driven To Make A Difference
  4. Mission First
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Time Waits for No One so Don’t Pass Me By

While the title may take you back to the classic rock era and create a sense of nostalgia and fond memories of how things used to be, the reality is that life as we know it has changed. Yes, we said it. Each day, we see and feel the effects the current pandemic has on our lives. Things we never before had to think about are our new normal. We now ask ourselves, “Did I remember my mask to wear to the grocery store?” or “Did I review my child’s lesson plan before they attend class via Zoom?” One thing that is certain: 2020 is a year that most of us did not expect.

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What to do during the COVID-19 quarantine?

We understand that your inbox, news and social media have been flooded with information about the COVID-19 pandemic, the stock market, political posts and countless other topics. We first and foremost hope that you and your families are safe during these unprecedented times. We also hope that you are finding ways to keep yourselves occupied during this pandemic.

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2020 Tax Deadline Changed

As the turmoil and negative sentiment surrounding the COVID-19 pandemic continue to bombard your inboxes and TV screens, we wanted to take a moment to highlight an important change to 2020’s tax deadline that will more than likely impact many of you.

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What to do with your money during the coronavirus crisis

The news headlines over the past weeks have been riddled with two serious threats to the health and wellbeing of people across the U.S. The first and obvious threat is the novel coronavirus (COVID-19) outbreak. The less obvious danger, lurking beneath the surface, despite its daily limelight, is the stock market, which entered bear market territory for the first time in 11 years.

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COVID-19: Weekly Market Update 3/17/2020

We wanted to pass along an update on the quickly changing news over the weekend and the implications to financial markets/economy.  It is important to recognize that the current market and economic conditions are event driven vs. technical driven as we saw in 2008.  The plumbing in the financial markets continues to be fully functioning at this time.

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Market Update: OPEC and Equity Market Volatility

Global equity markets tumbled Monday, continuation of concerns around the growth of the COVID-19 virus, and new fears of a price war between Saudi Arabia and Russia after the Organization of the Petroleum Exporting Countries (OPEC) failed to come to a consensus around oil production. On Saturday, Saudi Arabia slashed official crude oil selling prices for April and is preparing to increase production, indicating a sudden shift from their previous stance to support the oil market as global demand weakened from coronavirus fears. The price cut comes after a breakdown in OPEC talks last week, with Russia rejecting additional cuts. Oil had its worst day since 1991 during the Gulf War, diving more than 30% at intra-day lows, causing additional uncertainty and volatility in global markets.

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Volatile market events create unexpected opportunities for wealthy investors

Fear and uncertainty regarding the spread and impact of the new coronavirus (COVID-19) outbreak have created widespread volatility across various investment markets beginning in late February of 2020. And while many news outlets and headlines focus on the risks the virus poses to the general population and drastic drops in domestic markets, there have also been unexpected market opportunities created in the wake of the virus that may benefit wealthy investors.

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Team Member Spotlight: Melissa Lamb

Each member of the diversely talented team at Waldron leverages his or her unique skillset and experience to help our clients solve their immediate challenges and achieve their long-term goals.

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The Entrepreneurial Journey: Nothing happens in business until a sale is made

Successful entrepreneurs tend to progress through four phases of the business lifecycle: survival, growth, maturation and the day after. Each phase has its own set of challenges, both financial and emotional. And while no journey is the same, there are many commonalities, and awareness of these commonalities will allow you to prepare your business and yourself to deal with them. One common challenge in the survival phase is the need for a steadfast belief in the service or product that you are bringing to market.

In the very beginning of an enterprise, think of a home brewer who has produced a perfect case of oatmeal stout, there are a lot of emotions. Excitement and confidence that this product is not only better than the competition, but something that you know people want. Maybe the initial proving ground was only friends or colleagues, but you feel it in your gut – this is going to work. Worry and concern are likely there too, that you will have to lay out a significant amount of money or take on significant debt to produce and market your product. Then there’s anxiety about timing and logistics – have you registered your business, do you have the necessary licenses, are you in compliance with all the relevant ordinances? There are a lot of planning and financial issues to work through, not to mention the related taxation and legal considerations. And whether you have saved up sufficient capital to hire professionals to identify these issues and help you develop a strategy to work through them, or whether you are flying by the seat of your pants and financing and managing everything on your own – there will likely be expenses and challenges you didn’t anticipate anyway, which will only amplify the emotions you are already dealing with.

But if you truly believe and are able to press on and launch your business, you give yourself a chance to succeed. The key is to be aware that along with a great product and an intelligently composed business plan, you need emotional balance as well. It will be a wild ride, especially in the survival stage, with the pendulum swinging from fear because of debt you’ve taken on to exuberance and perhaps overconfidence from a key initial sale. Not letting the highs get too high and or the the lows get too low will allow you to see more clearly and make objective, sound decisions. But to get to the point where your business begins bringing in revenue, you have to be willing to take that leap of faith and maintain confidence in the face of uncertainty.

For more information about The Entrepreneurial Journey or to read an excerpt from the book, click here.


Interested in learning more about business sale strategies? View our additional resources and get a free copy of John Waldron’s “The Entrepreneurial Journey” below.


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