Covington Investment Advisors, Inc. Blog

  The Con Artists Are Back.   It is that time of year again taxes are done and we look forward to summer.  Also at this time of year some industrious weasels begin to call people in the hope of convincing them that they are the real IRS and that they need to send money, somewhere, right now, in order to prevent arrest, property seizure and a whole host of other nasty stuff.  In addition to these industrious crooks are the ones claiming to be able to see viruses on your computer and they can fix it but you need to give them your credit card number and access to your computer.  Or that some other bill is due and your water/electricity/cable will be shut off or car repossessed; the list goes on.    DO NOT DO IT!   The tax man and most utilities will send you a letter stating...

 Charles Schwab Investment Outlook 2016 Columbus, Ohio: February 11th, 2016 Patrick Wallace and Cindy Jones had the opportunity to attend the annual Charles Schwab Investment Outlook held each year in Columbus, Ohio. This one day conference brings together experts in their respective fields to give their insights on the markets, economy, politics, and investment strategies. This year we were excited to see Chief Political Strategist for Horizon Investments, Greg Valliere and Chief Investment Strategist for Charles Schwab & Co., Inc., Liz Ann Sonders in addition to several new speakers. Below are some highlights from each session:   The 2016 Presidential Race and Beyond Greg Valliere from Horizon Investments The chances of a recession are fairly slim due to a strong labor market and a strong consumer. We are starting to see signs of wages growing coupled with lower oil prices which is beneficial to the consumer. Regarding the Election: Greg does...

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. http://www.iup.edu/news-item.aspx?id=215466  

Covington had the pleasure of attending the Charles Schwab Impact Conference held in Boston, MA this year. This marks the 25th year of the conference with around 1,800 advisors from all over the country in attendance. Each year Schwab strives to provide best in class speakers from various backgrounds who offer their unique perspectives on their field of expertise. This year’s keynote speakers ranged from cellist Yo-Yo Ma to Alan Mulally, former CEO of Ford Motor Company. In addition to the in-depth educational sessions we attended, highlights of the general sessions were the following: Bernie Clark – Executive Vice President of Charles Schwab & Co., Inc. and head of Schwab Advisor Services: Over the past 10 years, the Registered Investment Adviser (RIA) industry has grown from $1.6 trillion to $4 trillion. There are over 14,000 RIA firms today. RIA’s employ over 32,000 people. There’s $23 trillion in untapped opportunities for Advisors....

Opening Night at the Westmoreland Symphony Orchestra     Covington Investment Advisors, Inc. sponsored the opening night of the Westmoreland Symphony Orchestra’s forty-seventh season on Saturday, October 24, 2015.  Patrick Wallace, President of Covington, is pictured above with Kim Dickert-Wallace on his left and Covington’s Cindy Jones and Daniel Messmer.  The Ligonier Investment firm and the Wallace’s are pleased to support the arts and cultural heritage that makes Westmoreland County a special place.     The WSO’s season opening concert featured violin virtuoso, Yevgeny Kutik, performing Brahms’ Violin Concerto in D Major.  Mr. Kutik emigrated from Minsk, Belarus to the United States at the age of five.  He has studied the violin since arriving in America and has performed with the Boston Pops and the Tanglewood Music Center Orchestra.  Mr. Kutik has also recorded and released a number of CD’s including “Music from the Suitcase: A Collection of Russian Miniatures.”  ...