9 Ways Financial Advisors Prepare Investors for Recession
As with all client interactions, preparing your clients for recession starts with their goals and experiences. “Advisors must have a thorough understanding of the client’s past investment experience, personal values and short- and long-term financial goals,” says Mark Schoenbeck, executive vice president and national sales director at Kestra Financial. “A recession will have very different ramifications on a client who needs their money in the next six months versus a client that doesn’t need retirement income for 30-plus years.” Knowing where your clients sit on their financial journey informs how they’ll be impacted by market downturns and thus should dictate how you prepare them for a recession.
U.S. News & World Report, June 27, 2019