Responding to demand from young professionals worried about COVID-19-related market volatility, Treece Financial Group has paired the launch of its groundbreaking, free investment software bundle, FiscaleFit, with tips for surviving the financial crisis.
“We moved up the launch of FiscaleFit because people were frantic, calling to tell us that their 401(k)s were cratering and they felt helpless,” says David Treece, CEO of Treece Financial Group. “Taking the lessons I Iearned from the crash of 2018, I developed a free, fee-for-service program with two products that were intended to help people take control of their investments, both at the beginner and advanced levels, so they could become their own CFOs. This is a very necessary step to financially protect themselves in the new normal of COVID-19.”
Both the free FiscaleFit bundle and the paid FiscaleFit Go Pro upgrade is innovative because unlike the rest of the industry, Treece Financial Group (TFG) does not require clients to have a minimum balance or assets under management to use them. Subscribers also get live coaching from veteran financial advisors, an approach focused on quality and customization, while large brand name competitors are investing huge sums in artificial intelligence and robo-advisors.
FiscaleFit is designed for high earning, 30 to 49-year-olds who are employed or have their own businesses. The online product and its tools are more important than ever for young professionals in helping them plan for their financial future especially in light of the economic impact of the COVID-19 pandemic.
FiscaleFit’s entry level bundle, which is free for one year, offers access to as many as five individual software products like AdviceWorks, used for budgeting, and 401(k) Optimizer, which helps you manage and maximize your company sponsored retirement plan. After the first 12 months, it is only $25 per month for the entry-level bundle.
Young professionals who want access to the same software that was previously only affordable to wealthy investors would pay $150 per month for FiscaleFit Go Pro, which includes more custom coaching, the original FiscaleFit bundle and new software that together is valued at more than $9,000.
David Treece also offered his South Florida community his expert analysis and tips for the crisis: First, he notes that the market is volatile, with many analysts projecting a “W” investment trend, meaning an up and down pattern as news and reports are announced. He warns that 80 percent of the stock market rallies since the end of March 2020 occurred on the days when the seven worst jobless claims were announced, which shows a disconnect from what is happening in the market, so the public should expect more volatility.
Second, David says that if you are not familiar with quarantine and anti-quarantine indexes on the S&P 500, you should give them a look, to get some insight into what is working or expected to work in the new normal for the market.
Third, as consumer spending is decreasing and may affect your business or job, he recommends having the equivalent of 6 to 9 months of expenses in a savings account during the COVID-19 recession to keep you safe instead of the traditional 3 to 6 months.
In the long run the market always comes back, so if you are saving into a 401(k) plan or saving monthly into an IRA, David encourages people to continue to do that because you are buying the shares at a discount and the savings could help. However, he warns you should be prepared to ride big swings and stay in for a long time.
His final financial tip is to look for other strategies for your portfolio like guaranteed annuities, and to make sure your investments are actively monitored and traded.
As an added bonus, Treece Financial Group is offering a free 15-minute financial goal coaching session to help members of the community during this difficult time and will also give those who reach out access to the full functionality of the free FiscaleFit software bundle. To sign up, go to the website https://www.treecefinancialgroup.com/fiscalefit.