Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

Hannah Patton, Client Services Administrator

Ms. Patton is responsible for responding to our clients' needs and serving as the liaison among our clients, our staff and Charles Schwab and Co., Inc.

Background: Hannah is starting her career at Covington Investment Advisors. She is a graduate of Indiana University of Pennsylvania-Eberly College of Business with a Bachelor of Science in Operations Management.

Ms. Patton may be reached at the office number or by email at

Wash Your Hands and Beware the Coronavirus Phishing Scam!

Day to day the media is reminding you to wash your hands and avoid large crowds as new coronavirus cases pop up across the world. What they should also be discussing is what else you should be concerned about; your cybersecurity.  Global disasters such as the coronavirus creates a golden opportunity for fraudsters because the whole world is informed and constantly trying to learn more about said disaster. This causes a greater potential for impulse clicking on suspicious emails or attachments. The fraudsters know this.  Starting in February 2020, a new coronavirus phishing scam has popped up in the United States. So, not only do you have to worry about the coronavirus outbreak hitting your area but now you must be on the lookout for the latest e-mail scam! These scam artists are trying to prey on the fear of the outbreak, hoping that you’ll impulse click on their seemingly...
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Charles Schwab Cuts Commissions to Zero!

Who doesn’t love FREE? Let’s face it, we all love a good bargain or free item. “Discount Chuck” is looking out for individual investors again, slashing online equity and ETF trading commissions from $4.95 to ZERO, making it even more affordable to invest. Schwab will continue to charge a commission for trading of foreign stocks, fixed-income investments, transaction-fee mutual funds, options, and large block trades that require special handling. Since 2006, Charles Schwab has been disrupting the brokerage industry by periodically reducing their trading commissions. Revenue will be derived from Schwab’s other business lines like its US Bank (Schwab Bank) and from net interest income. Charles Schwab continues to be a leading provider of financial services with more than $3.72 trillion in client assets as of August 31, 2019. Covington has utilized Charles Schwab as our Custodian of client assets since our inception. We continue to choose Schwab because they...
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Schwab discounts yet again!

 Just a month after Charles Schwab & Co., Inc. announced they were reducing trading commissions, they have delivered more good news! Schwab anticipated that their competitors would likely respond to their significant commission decreases and they were right. Now, Schwab is adjusting their pricing again to remain competitive and make sure that trading commissions will never become a barrier to choosing them as a Custodian. Starting on March 3, 2017, Schwab reduced their standard online equity and ETF trade commissions further, from $6.95 to $4.951 per trade.  Schwab’s cost of investing will continue to remain among the lowest in the industry. 1Restrictions apply.  
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"Discount Chuck" is at it again

Charles (“Chuck”) Schwab started the Charles Schwab Corporation in 1971 as a traditional brokerage company and in 1974 became a pioneer in the discount brokerage business. In 1975, after a Securities and Exchange Commission mandate deregulated trading commissions, Chuck established a series of radically different policies, including cutting the charges to his customers in half compared to his competitors. He was known for offering a combination of low prices with fast, efficient order executions and soon became the nation’s largest discount broker. Today, Charles Schwab Corporation is the nation’s largest publicly traded investment services firm with around $2.83 trillion in client assets. Schwab lowers the cost of investing Bernie Clark, EVP and Head of Charles Schwab Advisor Services, announced that in an effort to put advisors and their clients first, Schwab is now lowering the cost of investing. Schwab made this change to not only help advisors better serve their clients...
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Annuities: Pros & Cons

                             Annuities “Annuities are not bought, they’re sold" An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-range goals, under which you make a lump-sum payment for periodic payments to you in return. There are three types of annuities; fixed, indexed, and variable. Fixed: The Insurance Company agrees to pay you no less than a specified rate of interest during the time your account is growing. Indexed: The Insurance Company credits you with a return that is based on changes in an index (such as the S&P 500 Composite). Variable: You can choose to invest your purchase payments from among a range of different investment options, typically mutual funds. Your payments will be based off of the performance of the investment options you chose. You can choose between an Immediate Payout or a Deferred Payout: Immediate: You exchange your lump...
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Patrick Wallace Speaks at Indiana University of Pennsylvania-Hot Topics in Finance

Once or twice a year, Patrick Wallace is invited by Dr. Robert Camp, Dean of the Business College at Indiana University of Pennsylvania, to speak to the Seminar in Finance students at IUP as part of their “Hot Topics in Finance” speaker program. This is an initiative of the Finance and Legal Studies Department that brings professionals working in the finance industry into the classroom to speak to students throughout the year. Covington Investment Advisors is proud to support the local community and provide students with an overview of several topics relating to finance so that they can use the tools they learn in their future careers.   Please click on the link below to read an article written in response to Patrick Wallace’s last presentation at IUP early this month.  
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Identity Theft 101

 IDENTITY THEFT 101 “But he that filches from me my good name/Robs me of that which not enriches him/And makes me poor indeed.” -Shakespeare, Othello, act iii. Sc. 3.                                            What is Identity Theft? Identity Theft and Identity Fraud are defined as terms used “to refer to all types of crime in which someone wrongfully obtains another person’s personal data in some way that involves fraud or deception, typically for economic gain” (, 2015). Identity Theft can be something as little as unauthorized persons taking funds out of your bank account or in worst cases taking over your identity altogether and running up debts, committing crimes, etc. According to the U.S. Department of Justice, the average number of Americans who fall victim to identity fraud is 11.5 million annually and the average financial loss is $5,000. Before Congress created the Identity Theft and Assumption Deterrence Act of 1998, identity...
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148