MARCH 2026 Newsletter: Maintaining Course Through Geopolitical Diversity

Recent developments in the Middle East have introduced a period of uncertainty, with military activity affecting Iran and several neighboring countries. These events have caused some short‑term disruptions in the region, including slower movement of tankers through the Strait of Hormuz and a temporary rise in oil and gas prices. While the situation continues to evolve, it would take a more extended interruption for energy markets to experience lasting pressure, and that is not what we are seeing at this point.

Even in periods like this, when events feel severe and the outlook is uncertain, it’s natural for investing emotions to run high. Market volatility during geopolitical events is not unusual, and history shows that markets tend to adjust as conditions evolve. Your financial strategy was designed with periods of uncertainty in mind, and it remains aligned with your long-term goals.

This is where a historical perspective becomes especially valuable. While past performance cannot predict or guarantee future results, markets have often stabilized relatively quickly once geopolitical conditions begin to improve.

As seen in the chart below, even the three largest historical drawdowns due to geopolitical events: COVID-19 (-33.9%), Iraq's invasion of Kuwait (-16.9%), and Pearl Harbor (-19.8%) - recovered in 148, 189, and 307 calendar days, respectively. While shocks of this kind can certainly elevate volatility, they have not typically altered longer-term market trends unless the underlying economic impact became both deep and persistent.

Our broader stock market outlook for 2026 remains constructive. Economic growth continues to be supported by fiscal stimulus from the One Big Beautiful Bill Act and ongoing investment in artificial intelligence (AI), creating a generally favorable backdrop for equities despite concerns about AI-related disruption. Corporate earnings, particularly in technology sector, remain strong, contributing to 14% year-over-year S&P 500 earnings growth in the fourth quarter. The Federal Reserve is still expected to consider rate cuts in the second half of the year as inflation pressures ease. Even with the initial sell-off in Treasuries following the Iran strikes, interest rates remain at levels the economy has been able to absorb. Mortgage rates also dipped below 6% in February for the first time since 2022, offering support to the housing market. Taken together, these factors suggest that periods of weakness related to geopolitical activity could create opportunities for long-term investors. We will continue to monitor economic data closely, particularly for any indications that the U.S. economy may be weakening toward recession.

Our message for investors is to remain patient and stay well diversified. Staying the course during periods of geopolitical uncertainty can be challenging, but history shows that disciplined, long-term investing has been a resilient approach across many different market environments. Short-term uncertainty should not overshadow long-term opportunity.

Last and certainly not least, we wish our service men and women in harm's way a safe return home. Let's pray the world will be a safer place on the other side of this conflict.

As always, please reach out to our office with questions. Thank you for your continued trust.

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^{Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.}

^{All investing involves risk including loss of principal. No strategy assures success or protects against loss.} 

^{The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.}

• This year the tax filing deadline is April 15, 2026 for most taxpayers, but automatic six-month filing extensions are available to anyone for free. If you need more time to file your taxes, request an extension from the Internal Revenue Service and pay any tax you owe by the April filing due date. In addition, the IRS Newsroom pageis a great resource for tax tips , regularly updated with special alerts designed to help anyone, whether they’re preparing their tax return or are awaiting the processing of a return.
  
  
• Did you know? Once logged into your Account View profile, you can access the Activity Page to monitor a full history of transactional events on your accounts. Filter by date range or transaction type and export the data for personal records. Track contributions, distributions, and investment changes without waiting for monthly statements. To access in Account View desktop, navigate to the Accounts tab in Account View and select “Activity”. From the mobile app, tap Activity and use the carrots on the right to show more details.  
  
  
• We are excited to announce that Rick West and the Concord River Financial Team have achieved LPL Financial's Masters Tier status for 2025, ranking among the top 250 of more than 32,000 independent LPL advisors nationwide. Rick has also earned the distinction of being honored as a member of the globally recognized "Million Dollar Round Table", a premier association for financial professionals, at its highest "Top of the Table" Tier for the fifth time in his career.
  
  We are always so honored to share our accomplishments, as it's a direct reflection of our clients’ loyalty and trust, kind referrals, and the strong professional reputation that we strive to uphold. A heartfelt thank you to all who have made this possible!

Owe the IRS Money? Here's How to Pay

If you owe federal taxes, you may be required to pay by the April deadline. Remember, if you get an extension to file your taxes, payment is still due by the April deadline. You can set up a payment plan if you can't pay the full amount you owe now.

Here are some choices for making your payment:

• Use Direct Pay: Internal Revenue Service (IRS) Direct Pay is a free and secure way to pay directly from your checking or savings account.
• Pay by Debit or Credit Card: If you don't want to link a bank account, you can use your credit or debit card. Remember that you'll have to pay a processing fee and may incur interest charges.
• Pay When You E-File: If you file your federal tax return electronically, you can pay directly from your bank account using electronic funds withdrawal.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional

^{Tip adapted from IRS.gov}

Tax Fraud and Scam Reporting

The internal Revenue Service recently announced the launch of a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities, as well as internal-facing improvements that will enhance how referrals are used to stop illegal activity. 

The new web page consolidates multiple IRS fraud-reporting options into a single, centralized location, making it easier for taxpayers to report suspicious activity. The web page can be found by selecting the new "Report Fraud" item in the menu bar on the IRS.gov's homepage or at IRS.gov/SubmitATip. Taxpayers are encouraged to report suspected tax-related wrongdoing as soon as possible to help the IRS address fraud and noncompliance.

^{Excerpted from IRS launches new web page to streamline tax fraud and scam reporting | Internal Revenue Service}

Note this sequence: B, C, D, E, G. What letter should then follow as the sixth letter in this series?

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Last Month's Riddle: Name the next three letters in this combination: OTTFFSS 

Answer:  ENT

The letters in the riddle are the first letters of the numbers one through eight in order. O for One, T for Two, T for Three, F for Four, F for Five, S for Six, S for Seven. So, the next three letters E N T, stand for Eight, Nine, Ten.