"We're probably going into a deeper correction in equity markets globally," Farris said. He said, however, that a correction may present investors with a "great opportunity" after stocks globally kicked off the year with a strong start. By the end of the first quarter, the S&P 500 stateside jumped nearly 6% from its final close of 2020. In that same period, the pan-European Stoxx 600 surged around 7.66% while the Nikkei 225 in Japan gained 6.32% and Hong Kong's Hang Seng index jumped 4.21%. "Our focus has been to not chase the market higher over the last couple of months," Farris said. "We've been very careful to be stuck at strategic weights for equities in portfolios because we want to have the resources to take advantage of a correction."