Professionals across the U.S. economy had to make quick adjustments in their client relationships when the coronavirus pandemic besieged the country in late winter.
A new report from J.D. Power indicates that wealth managers missed the mark.
At the outset of the crisis, financial markets seized up. The S&P 500 fell nearly 1,000 points between Feb. 19 and March 18. However, many financial advisors were slow to offer guidance to their clients, if they did so at all, according to the report.
The report was based on data as part of a J.D. Power pulse engagement study conducted from May 27 to June 5 among 521 individual investors.
Check the gallery to find out what investors thought of their advisors’ response to the pandemic.
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