Covington Investment Advisors, Inc. Blog

    Covington recently presented their observations on the market and economy at our annual shooting event held at Pike Run Country Club. Please find our presentation commentary below. The economy’s recent performance is real and is supported by sound economic fundamentals.  GDP growth is shifting from Obama’s anemic growth rate of 1.8% to 3+% in the last two quarters. This growth rate of 3+% back to back quarters has not happened for over ten years. While GDP for 2016 will come in around 2.2% this year, 2018 is looking good as well with a projected growth rate of 2.6%.  Global GDP is at 3.6%.  The economy is continuing to expand and by definition a recession is declared when we experience three negative quarters of GDP so this bull market cycle continues. The roll back of regulations by President Trump has business confidence soaring.  Companies are spending again on capital...

High Intensity Drug Trafficking Area (HIDTA) designation is key to providing a Multi-Jurisdictional Task Force in Western Pennsylvania to curb the source of drugs supplying the Opioid Epidemic. As an ongoing effort to have our congressional representative apply for a Federal High Intensity Drug Trafficking Area (HIDTA) designation for Westmoreland County, I recently met with the Acting United States Attorney for the Western District of Pennsylvania, Soo. C. Song, Retired Chancellor of the University of Pittsburgh and Chair of the Institute of Politics, Mark A. Nordenberg, and Director of the University of Pittsburgh School of Pharmacy, Janice L. Pringle. If we are to have any impact on the overdose death rate in our area we must stop the supply of illicit drugs. Attorney Song assured me that the application for a multi county “HIDTA” designation for our area is clearly justified and continues to be developed. I told her there is...

At Covington, we are continuously trying to not only ensure we keep your information safe, but also educate you on how to keep your personal information and assets secure. With the help of our Custodian, Charles Schwab, we wanted to provide you with additional information about protecting your assets/identity and how to respond to a data breach in the future. Please review the attachment descriptions below and click on the links to view the informational slides: Protecting_Your_Identity_Data_and_AssetsPOWERPOINT.ppt–This is a slide deck that covers common cybersecurity threats, how Covington protects client information and assets, and best practices clients can implement to protect themselves from cyberattacks. How_To_Respond_To_A_Data_Breach.pdf –This is a flyer to help educate clients who either know, or suspect they have been, victims of a cyberattack, including Social Security fraud and identity theft. The handout covers actions clients should consider taking if their personal information has been compromised. To add an extra layer of security...

Some important and timely items to remember.  As thoughts and prayers go out to the people affected by Hurricane Harvey, the scammers will not be far behind.  Please do not give money and or credit card information to anyone who calls you soliciting donations for flood and hurricane relief.  If you wish to help out choose a known charity and contact them directly.  If you do get a call, inform the caller that you already gave, or hang up on them, but do not give them your credit card or other information.   Along the same lines, there is a new and improved scam dealing with how you owe money where you are demanded to contact either the IRS or FBI.  This latest scam is pretty good in that the fraudsters are using the IRS or FBI logo in the email to you.  Neither the IRS nor the FBI will email...

Covington Investment Advisors, Inc. of Ligonier is proud to announce that our Portfolio Manager, Ms. Cindy Jones, has successfully completed Level I of the three-part Chartered Financial Analyst (CFA) exam.  After completion of all three levels and other work related requirements Ms. Jones can become a CFA Charter holder.   Covington Investment Advisors is a federally registered investment advisory firm which provides personalized comprehensive wealth management services to high net worth individuals. Its philosophy is to invest long term in proven enterprises of high-quality securities.  Accounts are managed on a separate account basis with Charles Schwab & Co., Inc. as the primary custodian.   Covington Investment Advisors congratulates Ms. Jones on her accomplishment and we have confidence that she will complete the next two levels as successfully as the first.