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Why We Created a Women's Advisory TeamWomen’s Wealth Connection of Warren Averett Asset Management was created to be your first call through all of life’s transitions. We recognize that women often take a different approach than men when choosing advisors and that there can be limited options for women seeking financial advisory services that are specific to their needs.

Our advisors are experienced, educated and passionate about helping women and families meet their financial goals. Through our experience, we’ve learned first-hand that women and men are different. Women tend to be more goal focused, whereas men tend to focus more on specific numbers, like investment returns. We’ve learned women tend to make a decision once they feel they have 100% of the information, whereas men will make a decision with only 50% of the information.1 We understand, and we have developed our approach to financial planning to ensure we provide clear, pertinent and appropriate advice in the way our clients want to receive it. Most importantly, we are available and easily accessible.

Why do we feel so passionately about educating, empowering and equipping women as it pertains to their finances? Because while 92% of women want to learn more about financial planning, 80% of women refrain from talking about money with those they are close to,2 and 61% of women would rather talk about death than money.3 We believe that’s because many women simply may not feel as equipped as they'd like to talk about money.

If women don’t feel as confident as they want to be talking about financial matters, it’s likely that they feel that same level of

SUMMER 2020

FINANCIAL, MENTAL & PHYSICAL HEALTH

In this issue:

• Why We Created a Women's Advisory Team

• Fostering Financial Awareness through Budgeting (Even in the Midst of a Pandemic)

• Special Section: Serving During COVID

• Seven Tips to Help You Stay Healthy During This Unusual Time

• Meet Our Advisory Team

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confidence to handle their financial matters. Maintaining financial confidence during a transitional life event is even more pertinent. During the trauma of divorce, death of a loved one or other transitional event, money matters can become even more complicated.

In a world full of unlimited options and information overload, how does a woman continue to educate herself about financial matters? Who can be trusted to provide impartial, unbiased, professional and pertinent financial advice?

Our clients find that they can rely on our collective expertise in investment, financial, tax and estate planning services under one umbrella, and they appreciate not needing separate advisors across multiple firms. Our goal is to simplify your financial complexities, reduce stress that may be associated with your financial picture and ultimately empower you to make financial choices. We help clients find financial peace of mind so you can enjoy life to its fullest and find the answers to the questions that matter most—even in the midst of life’s unexpected changes.

The services Women’s Wealth Connection offers include investment management and education, comprehensive financial planning, asset management, business valuation, income tax planning and

budgeting, estate planning, cash flow planning, retirement planning, debt analysis, education planning and saving, insurance analysis, Medicare and Social Security planning, coordinating updates of legal documents, trust analysis, trust administration assistance and divorce mediation support. of Warren Averett Asset Management

Fostering Financial Awareness through Budgeting (EVEN IN THE MIDST OF A PANDEMIC)by MaryPat Peeples

Financial awareness and budgeting are key to reaching your financial goals, even as we navigate this unprecedented economic environment.

To foster financial awareness, it’s important to set and prioritize goals, create intentional spending habits, identify current spending habits and then modify your spending to reach your goals through establishing a budget. We have all been impacted by

COVID-19 in various ways. Take this unique opportunity to renew and refresh your awareness of your goals, spending and budget. Start with the steps outlined below, and you will be on your way!

PRIORITIZE GOALSWrite out your short- and long-term goals. These goals can include big-ticket items (such as building an emergency savings fund, buying a new car, taking a trip abroad or paying for your child’s next semester of tuition) and smaller-ticket items (such as paying off small debts, increasing your retirement contributions or purchasing new clothing or home items). The key is to make sure your goals have SMART elements (Specific, Measurable, Achievable, Relevant, Time-Bound).

HOW TO BUDGETFirst, start with your large annual expenses. Some expenses, such as car insurance, car maintenance, home repairs, holidays or special occasions, may be necessary to maintain your quality of life, but it can be hard to shell out the money throughout the year without proper planning.

To ensure you’re able to successfully make these purchases, it’s important to put these items into your budget. You may prefer to save money each month for these expenses so that you have the money readily available when the expense comes due.

Next, plug in necessary monthly expenses like groceries, gas, housing payments and utilities. After necessities are budgeted for, allocate dollars toward a savings account and/or a

1 www.theatlantic.com/magazine/archive/2014/05/the-confidence-gap/359815/2 www.fidelity.com/bin-public/060_www_fidelity_com/documents/women-fit-money-study.pdf3 www.agewave.com/what-we-do/landmark-research-and-consulting/research-studies/women-and-financial-wellness/

retirement account, such as a 401(k). Then, use the remaining dollars to balance your wants, like eating out and entertainment. It’s important that you allocate dollars to these different buckets based on your priorities.

If you do not already have a fully funded emergency fund (liquid savings of 3-6 months essential spending), you should include this as a line item to establish and fund for emergencies and times of uncertainty.

THE FREEDOM TO SPENDOnce you decide how much you are able to save toward your goals and how much is needed for other parts of your budget, you can make the decision to have your savings go directly into your savings account(s). Most times, separating your spending accounts from savings accounts is a great practice. This way, the dollars in your budget attributed to fun that are deposited into your spending account can be spent without guilt about hindering your progress towards your financial goals.

TOOLS FOR SUCCESSIf you prefer to track your spending in a way other than the old-fashioned notebook, you can use one of the following apps:

EXCEL

MINT

YOU NEED A BUDGET (YNAB)

EVERYDOLLAR

KEEP YOUR EYE ON THE PRIZEWhile budgeting and fostering financial awareness may require sacrifices, time and effort, they are highly effective ways to reach the goals you’ve set for

yourself while still maintaining your lifestyle. Remember that you are seeking to reach your goals and that your budget and financial awareness will help you to get there! of Warren Averett Asset Management


Special Section :LOOKING FOR WAYS TO SERVE YOUR COMMUNITY DURING COVID-19? We’ve compiled this list of nonprofit organizations serving women, children and seniors in crisis during this unprecedented time. We salute the staff and volunteers who make up these organizations doing amazing work to support our families and communities. While this list is not inclusive of all the wonderful organizations helping others in need, if you’re looking for ways to continue to give back during the pandemic, we encourage you to reach out to any of these groups in your community.

CENTRAL ALABAMA

Awarding various nonprofit organizations and agencies in its five-county service area with funds from its United Way Community Crisis Fund grants. CONTACT: Elizabeth Fagan | [email protected] 205.251.5131 | www.uwca.org

Providing healthy meals for our high-risk seniors so they don't have to leave their homes. CONTACT: Becky Wright | [email protected] 205.458.3329 | www.mealsonwheelsamerica.org

Providing up to date information, assistance in finding food or other basic essential needs, and connecting volunteers to those who need them.CONTACT: Shakeitha Tatum | [email protected] 205.458.2078 | www.helplinecenter.org

Providing childcare to frontline healthcare workers.CONTACT: LaRhonda Magras [email protected] | 205.322.9922 | www.uwca.org/ymca-central-alabama

Offering counseling and mentoring teleservices. CONTACT: George Casey | [email protected] 205.916.0123 | www.impactal.org

Partnering with local restaurants to provide meals to the frontline heroes in healthcare and first responder roles.CONTACT: Bradley Tipper | [email protected] | www.frontlinefoods.org

GULF COAST Partnering with local food banks and others to deliver food to those in need. CONTACT: Jessica Beard | [email protected] | 850.626.1332 www.feedingthegulfcoast.org

Partnering with local restaurants to provide meals to the frontline heroes in healthcare and first responder roles.CONTACT: Alexis Allen | [email protected] | www.frontlinefoods.org

HUNTSVILLE Through its Emergency Relief Fund, supporting organizations in the area who are providing basic needs and/or health and wellness relief efforts.CONTACT: Melissa Thompson | [email protected] 256.489.3525 | www.communityfoundationhsv.org/covid

MONTGOMERY Delivering food to the needy through its partner distribution organizations who have on-site pantries or feeding programs, deliver Meals on Wheels, offer backpacks to children in need, and run halfway homes or shelters.CONTACT: 334.263.3784 | www.montgomeryareafoodbank.org

ATLANTAA Warren Averett client delivering meals through local distributions. CONTACT: Debra Shoaf, CFO | [email protected] | 404.892.9822 www.acfb.org

A Warren Averett client providing funding, resources, and evaluation support to nonprofits that provide programs to low-income women and girls in metro Atlanta. CONTACT: Kari Love, CEO | [email protected] | 404.577.5000 www.atlantawomen.org

TAMPADelivering meals through numerous local distributions.CONTACT: Thomas Mantz, Exec. Director | [email protected] 813.254.1190, ext. 217 | www.feedingtampabay.org

A Warren Averett client who is answering crisis calls, providing emotional support, and offering information and referrals to resources in Hillsborough County 24/7 through their Gateway Contact Center.CONTACT: Clara Reynolds, Pres. & CEO | [email protected] | 813.964.1964 | www.crisiscenter.com

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Annual Report

2010-2011

Seven Tips to Help You Stay HealthyDURING THIS UNUSUAL TIME

by Amy M. Williams, Guest Contributor

It would be hard to argue that these are unprecedented times by anyone’s standards. Our personal, work, emotional and spiritual lives have been turned upside down and inside out. This country was founded upon the principles of “Life, Liberty and the pursuit of Happiness” and these are rights most of us have been privileged to enjoy. Then, in the blink of an eye, we watched as the world around us was touched and changed by COVID-19. Simple freedoms we might have taken for granted, like going to the grocery store, working out at the gym, enjoying a meal with family or friends at a restaurant, or worshipping with others who share our beliefs, were temporarily stripped away. It is impossible to ignore the impact of COVID-19 on everything from our personal finances, to our economy as unemployment rates climb, to individuals and businesses that have been impacted in both temporary and permanent ways.

In the good news category, many of the distractions and much of the “noise” around us were suddenly quieted, causing people to slow down and

evaluate what is truly important to them. Personally, I’ve seen and interacted with—from an appropriate social distance, of course—my neighbors more in the last eight weeks than in the prior 10 years I’ve lived in my neighborhood. People have laced up their tennis shoes for walks, dusted off their almost-

forgotten bicycles, sat down for family meals and caught up on dozens of those small “impossible to find the time for” projects in the yard and within their homes. It would seem all could agree, whatever age or life stage you’re in, there have been struggles to address, as well as simple pleasures to embrace.

In the face of these recent events, one question that might be asked is “What can I personally do to stay mentally, physically and spiritually healthy during this unusual time and even afterward as life returns to a new normal?” Our team has put together a few suggestions we believe might be helpful for you as it relates to this unprecedented time:

1 SEEK CONNECTION

More than ever, it is obvious how much we need one another. Make sure to prioritize and foster connections during these

potentially isolating times. If you have an older or a single neighbor, take the time to check on them. Or, sit down for a moment to write a handwritten letter to someone you care about, and then mail it to them in the good old fashioned “snail mail” way. It might just be the brightest moment in their day.

Utilize services like Facetime, Zoom and other digital tools to keep in touch with your friends and family. A friendly face or a familiar voice can go a long way to ease loneliness or isolation.

2 TAKE INVENTORYHaving been forced to slow

down or to adjust some of your habits in this season, remind yourself what you already have and, maybe more importantly, ask yourself what haven’t you missed? Were you doing unnecessary or maybe unhealthy things in your day-to-day life or at work before that you need to make sure don’t creep back in as you move forward? An honest assessment can be powerful.

3 PRIORITIZE In Dr. Stephen Covey’s

book, Seven Habits of Highly Effective People, habit #3 is to put first things first. In his own words, he states, “Putting first things first means organizing

In the blink of an eye, we watched as

the world around us was touched and

changed by COVID-19

and executing around your most important priorities. It is living and being driven by the principles you value most; not by the agendas and forces surrounding you." Carefully consider your priorities and make changes if you need to.

4 BE (MENTALLY) STILL

The temptation to be busy or distracted is always around us and at our very fingertips. Prioritizing tasks and minimizing distractions help us to thrive both personally and professionally. According to a University of California Irvine study, “it takes an average of 23 minutes and 15 seconds to get back to the task.” Taking the time to sit still, to listen to our minds and our bodies, to breathe, and to simply tune in with 100% of our attention is a valuable practice and contributes to good health.

5 GET PHYSICALLY MOVING

Taking time throughout the day to move our bodies on a regular basis is not only powerful for breaking up the boredom, but it's also useful for preventing disease, depression and anxiety. When you exercise, your body releases natural endorphins, a type of

neurotransmitter, or chemical messenger, that help relieve pain and stress. In fact, according to Healthline.com, endorphins are only one of many neurotransmitters released when you exercise. Physical activity also stimulates the release of dopamine, norepinephrine and serotonin. These brain chemicals play an important part in regulating your mood. For example, regular exercise can raise serotonin levels in your brain, boosting your mood and overall sense of wellbeing. Serotonin can also help improve your appetite and sleep cycles, which are often negatively affected by depression.

6 WRITE IT DOWN There's something powerful

about writing things down that you’re feeling in the moment. Writing things down allows you to reflect back at a later time, which can be enlightening. One suggestion is to keep a gratitude journal of the things you’re thankful for each day. A journal is a great point of reference to revisit when the difficult days or seasons come, or it can simply remind you of the good outcomes that can form from unexpected circumstances.

As Albert Einstein once said, “The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking."

7 IT'S OKAY TO NOT BE OKAY

Finally, it’s important to recognize a season, like the one we’re currently in, brings with it loss, challenges, loneliness and other struggles we might not even know how to name right now. Marriage, parenting, grandparenting and life in general can be hard, even on a “normal” day. One of the most honest questions we can ask ourselves is, “Am I ok?” or “Are we ok?” If the answer is “no,” don’t be afraid to seek help from a trusted family member or friend.

Most of all, remember we’re all in this together, and we will get through it. We hope you’ll try even just one of the suggestions above if you think it’ll give you comfort. We care about your wellbeing and want you to stay mentally, physically and spiritually healthy as we all continue to navigate these unprecedented times. of Warren Averett Asset Management

email | [email protected] | WAasset.com/womenswealthphone | 205.769.3209

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CONTACT US

Melanie Nichols, CFA, CFP®

Financial [email protected]

Beverly Virciglio, CPA, AEP®

Estate [email protected]

Heather Locklar, JDEstate [email protected]

Elizabeth Brasher, JD, CWSFinancial [email protected]

MaryPat PeeplesSenior Financial Planning [email protected]

Barbara Blackerby, CPATax [email protected]

Laura Machen, CPATax [email protected]

Sara Douglas Lowrey, CPATax [email protected]

Women’s Wealth ConnectionMEET OUR ADVISORY TEAM

If you’ve met any member of our advisory team yet, you know we’re passionate about serving women like you. Each member of our experienced team of eight pictured below offers unique professional skills and personal experiences when it comes to helping our female clients navigate their financial situations. And, if you’re like us, knowing what those professional and personal experiences are makes it easier to develop a strong working relationship. So, in each subsequent issue of this newsletter, we’ll spotlight a team member and provide details about her background and expertise, along with fun personal stories that you’ll surely relate to. In the meantime, we hope you’ll reach out to any of us if you have questions about your financial situation. We are here to serve you any way we can.

Left to right: Heather Locklar, JDBeverly Virciglio, CPA, AEP®

Sara Douglas Lowrey, CPABarbara Blackerby, CPAMelanie Nichols, CFA, CFP®

Laura Machen, CPAMaryPat PeeplesElizabeth Brasher, JD, CWS

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