Clients need advisors who can lead them through these troubled times.
It is abundantly clear that most of us have little understanding how the coronavirus will impact our financial lives (let alone our actual lives and those of our family and friends). How far will the market drop? When will it recover? How many jobs will be furloughed or lost? Which industries will suffer significant and long-lasting downturns? What permanent changes will be embedded within the global and local landscape? Will people stop going to public or even private events or restaurants? What of the airline, cruise and hotel industries? How long will it take for our economy to recover, and in a time of trillions of dollars of debt, where and how will the U.S. government get the necessary capital to operate, let alone meet its existing debt obligations without initiating inflationary measures? These are just a tiny fraction of the questions permeating the minds of wealth distributors on Wall Street.
Read the full story here: https://www.wealthmanagement.com/high-net-worth/early-lessons-coronavirus-and-wealth-protection
