First Quarter 2021 Commentary Wow, what a difference a year makes. From panic and turmoil to a systematic rollout of the COVID-19 vaccine, it appears normalcy is creeping back into our daily lives, which is a welcome relief. Although the pandemic is far from over, there is reason to stay cautiously optimistic about the road that lies ahead.Consensus shows pent up demand, massive government spending, and easy monetary policy are the key ingredients driving GDP growth past pre-pandemic expectations. In addition, the COVID-19 vaccine’s efficacy, availability, and rollout are targeting herd immunity, which is leading more states to reopen for business. A strong global recovery is widely expected to serve as a backdrop for the markets in 2021 and spill over into 2022.However, as the economic activity returns to pre-pandemic levels, investors are worried about inflation and interest rates rising. In fact, this fear has caused bond prices to fall. We are not letting this derail our current investment strategy as we know bonds still serve a purpose in our fixed income portfolios.We know that every asset class, every sector, every investment has its time to shine. We also know there is no way to predict how the market will react to current conditions. That’s why diversification is crucial to our investment strategy. Not only do we use stocks and bonds to diversify your portfolio, but we also diversify the types of stocks and bonds we want exposure to, and we use mutual funds and exchange traded funds as another layer of diversification.We want to check in with you at least once a year to check your money goals against your risk tolerance and asset allocation. More importantly, we want to make sure your financial house stays in order during the market ups and downs. That involves more than just your portfolio.If there have been any changes to your financial circumstances, goals, and/or objectives, please contact us. The value of our advisory services is enhanced when we are actively working with you to reach your financial goals.In closing, we are required to notify you when we update our disclosure brochure, ADV Part 2A & 2B. There have been no material changes since our last annual update. Our services, fees, and the way we do business have remained the same.If you would like to review our 2021 ADV Part 2A & 2B, you may:Download a PDF copy from our Disclosures tab.Download a PDF copy from the SEC public access site at www.adviserinfo.sec.gov.Call us at 925-553-7200 to request a copy.