Joshua M. Brown, CEO of Ritholtz Wealth Management, has some 1.1 million Twitter followers, appears often on CNBC and is an organizer of the Wealth/Stack yearly conference.
Lead discussions with questions about the physical and mental health of each client and their family members. This is the most important thing right now.
We have found that clients are concerned with their portfolios secondarily these days, which makes this different from all other recessions and financial crises I’ve been through.
I would also tell advisors to continuously remind clients that this isn’t the new normal. Life will resume once there are better treatments and an eventual vaccine.
All of the items on their financial plans and wish lists are still doable; they’re just on a delay. Thinking about the future remains as important as ever, despite what’s happening in the present.