S4| Thursday, March 19, 2020 THE WALL STREET JOURNAL.
©2020 MFS Investment Management 44850.1CAN YOUR FIXED INCOME ADAPT
THROUGHOUT THE CREDIT CYCLE?
At MFS, we actively invest throughout the credit cycle,
helpingadvisorsdeliverincome,diversificationandrisk
management for their clients. It’s a traditional approach
we call Essential Fixed Income.Learn more atMFS.com/FixedIncome
Essential
Fixed Income®Morristown, N.J. No. 36RegentAtlantic CapitalGrowingupintheTexasPanhandle,Brent Beene
oftenwitnessedthestrainthataseasonofbelow-
averagerainfallcouldputonhisfarmingcommunity.
Now a partner and wealth planner at RegentAtlantic
CapitalinMorristown,N.J.,Beene,43,saysit’sno
coincidencethathechoseacareerhelpingfolkswith
financial preparedness for unpredictable events.
Manyofhisclientsarecurrentorformerbusi-
nessownerswhohavepouredheartandsoul—and
personal assets—into building their companies, much
like the farming families he grew up with in Friona,
knownasthecheeseburgercapitalofTexasforits
dairy and beef production.
Preparation involves smart asset allocation and
diversification,butalsoadialoguewithclientstotem-
per emotional responses to negative events, says Beene,
whose firm oversees $4.8 billion in client assets.
“We spend a lot of time talking about the ups and
downsofthemarketstoputshort-termdisruptions
intocontext,”hesays.Hisclients’typicalnetworthis
about $5 million.
Beene’scurrentassetallocationsformodest-risk
portfolios were established earlier this year to posi-
tion for projected higher volatility: 55% in stocks, 35%
inbonds,and10%inalternatives.Thatcompares
withlastyear’s57%instocks,40%inbonds,and3%
in alternatives.
Beene may well recommend further changes when
epidemiologists and economists learn more about
theimpactoftheCovid-19virus.“Therewillbegreat
opportunities to rebalance client portfolios as the facts
comeintofocus,”hesays.
In January, RegentAtlantic’s 2020 Investment
Outlook summarized the markets as being in a “Roll-
ing Stones recovery,” because, like the band, the long
economic expansion appeared it would persevere.
Thatviewisnowinquestion.“Iffactoriesandbusi-
nesses shut down and people are not out consuming
foranextendedperiodoftime,thethreatofareces-
sion is certainly real,” Beene says.
For now, he is telling clients to sit tight and avoid
knee-jerkreactions,sincethefulleffectsofthevirus
are still unknown.—KAREN HUBEBRENT
BEENE
Photograph byBENEDICT EVANS$4.8B
To t a l A s s e t s$2M
Typical Account$5M
Typical
Net WorthAMERICA’S TOP 1200 FINANCIAL ADVISORS 2020
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