“I was very glad that your team was available when I needed you last week,” a client told me. “With the world economy shuttered, I was happy that I had access to my investments.” 

During the corona virus panic, non-essential companies had to close down. But companies like ours, who have been entrusted with helping people deal with their money, were allowed to stay open. In many industries, an “emergency plan” is something that they hope to design one day. In our business, though, we think and prepare for emergencies all the time. 

We’ve got teams located in multiple places in Israel, and backup teams in America. We regularly test our offsite connections to make sure they work and that they are secure. From redundant communications and power backups, to a staff that’s trained to handle each other’s tasks, we make sure that our clients never had to worry about getting service for their U.S. investment accounts.  

Could people in Israel enter trades for their U.S. accounts? 

Any time that clients wanted to trade, or even just discuss their financial situation, we made sure that they got great service. More importantly, though, they had us, licensed individuals holding their hand during a global crisis. Too often, folks who don’t have investment professionals or who try to make decisions on their own without the help of an experienced, objective third-party make rash choices. They frequently end up selling stocks when the market is at the bottom and then later buying back when it appreciated tremendously. Naturally, that buy-high, sell-low approach will always fail. Although an investment professional is not a prophet, he can make sure that you’ve considered the important things before making a change in your portfolio. 

You should feel confident in your investment company. I certainly feel confident in mine, and especially in my fantastic team and partners who have done a great job in making sure that our clients have been given the best possible support during this crisis. Please call us if you have questions about handling your U.S. portfolio from Israel (02-624-2788). 

Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd. www.profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.

Published July 9, 2020.

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