Tiedemann Update: COVID-19 Preparedness
All of us at Tiedemann Advisors are concerned about the safety and well-being of our families, colleagues, clients, partners, and friends who make up our community. As this highly dynamic situation evolves, we continue to monitor and adapt our approach to address the disruption of the markets and to serve the best interests of our community.
Our hearts are with those who have been affected personally by the outbreak of coronavirus (COVID-19) as well as the many communities around the world that are facing extreme measures in the attempt to slow its spread.
As a firm, we want to assure you that we are prepared to handle the disruption to the markets and to our daily lives. We have plans and policies in place to protect our portfolio management teams and to fully maintain business operations, and respect and protect both our clients and employees.
To meet those priorities and to ensure the firm upholds its core values fostered through more than 20 years of service, we have implemented the following components:
- Senior management speaks several times a day to monitor conditions and update policies and procedures as warranted. In addition, individual managers are in daily contact with their teams, and Tiedemann’s nine national offices are sharing local updates on a consistent basis
- We regularly update employees with guidance that aligns with that from the Centers for Disease Control (CDC) and World Health Organization (WHO). These updates are made available through our firm intranet and frequent all-staff communications
- We have encouraged all employees to work from home to ensure “social and professional distancing” is maintained to help contain the spread of the COVID-19. We will continue to do this for as long as recommended
- Remote access abilities for those working from home are in place to ensure that business operations continue without disruption. We have extensive video conferencing capability to use internally and with clients, remote desktop access to our systems, phone system routing, and remote connectivity to our custody providers
- Our operations, including broad investment and wealth management, are not dependent on any single location thanks to large, highly skilled teams dispersed across the nation. Given our reach, effective March 2, Tiedemann suspended all non-essential business travel until further notice
We believe our client portfolios own high quality assets that will withstand the economic toll of COVID-19 as well as the necessary liquidity and flexibility to respond as new opportunities unfold. Our portfolios were cautiously positioned before the virus spread due to concerns over asset valuations, which has allowed them to withstand the recent volatility relatively well. Leveraging our experienced team and decades of experience, we aim to stay ahead of the market cycle and have contingency plans to account for all possible scenarios.
We realize these are uncertain times as the world navigates this pandemic. Tiedemann is fully committed to ensuring the health, safety, and well-being of our employees. And we will continue to maintain the same high standards of excellence in portfolio management and customer service that we have provided for over 20 years. As this situation evolves, we will proactively reach out with additional support and advice. If you have any further questions about our response to COVID-19, please contact us.