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Note from our Compliance Officer - Kyrstin Ritsema

Hello! Its always my pleasure to speak with our client base, in any way I can. I am Kyrstin Ritsema, the Chief Compliance Officer here at Executive Wealth Management. You may know that I handle the Regulatory Requirements for our firm, such as the Business Continuity Plan we currently have in place (so you can continue to receive the service you have grown accustomed too) in these strange times. What most people do not know about me, is that I am a Mental Health advocate. This does not mean I am a professional therapist, or doctor; I am someone who cares and supports the services of those individuals and sharing of Mental Health resources in any way that I can.

This morning we received an article from a business associate of ours, outlining a business owner view of “Put your oxygen mask on first”.  Many of our clients are business owners and if you are interested in reading that article, you can do so HERE. But what about us as individuals? It all comes down to we are all people, and this is an unprecedented event in all of our lives.

I commend you for taking the step to work with a financial advisor.  I feel lucky to work everyday with those that I do. They help to take the emotion out of these very emotional events and allow a rationed response within accounts. All EWM advisors are available by calling their direct lines or the office main line for their branch locations. Reach out by email or phone and we will get back with you. If you know someone who is not getting the same support that you are from your EWM Team, please feel free to have them contact us as well or share any of the information we have sent you so far. We are here to help.

I wanted to address one of the most pressing issues people are facing, from a financial and mental health prospective. Many of our clients, friends and relatives have been laid off. Its awful. Its OK to be upset, these are upsetting times. What are immediate steps they can do about their financial situation?

  • Speak with your Financial Advisor, discuss with them the plan you had in place and how it can now be implemented. If you don’t have a financial advisor, now is a good time to start that relationship.
  • The State of Michigan’s unemployment benefits site is listed below. Other States, of course, will have their own sites to support those laid off:
    1. https://www.michigan.gov/leo/0,5863,7-336-78421_97241---,00.html
  • EWM offers the Financial Fitness Checklist, you can access it on our website. It can offer insight on where focus needs to be concentrated:
    1. https://ewmadvisors.com/financial-fitness
  • Evaluate finances and see where expenses can be cut immediately. It’s a time to evaluate what is wanted and what is needed.
  • Avoid taking distributions from Retirement accounts. There are penalties and tax consequences you should discuss with your Financial Advisor regarding these types of distributions.
  • Stay abreast of your and your family’s mental health. Take walks, talk to each other. There are many things that can be done at no cost.

These are some first steps to assist those who may need it. Sometimes it helps to just have a next step we have it in our power to take. We must continue to move forward and not stay stagnant. I have shared below a link to my organization of choice, the American Foundation for Suicide Prevention, or AFSP, related to this situation:


Again, I am not an expert, I am an advocate. The links listed will take you away from your email/web browser to another site we do not have control over. We as a company do not endorse any of these sites specifically. I hope you find some resources there. I hope your family is, and will remain, healthy and well, mentally and physically.