Here’s how financial advisers manage their money when stocks tank

Coronavirus is circling the globe and markets are making headlines with some scary record-breaking multi-day drops. The U.S. stock market suffered its worst week since 2008. Financial advisers are getting phone calls from panicked clients who just watched someone on TV say markets are going to drop further. Some clients are asking their adviser if they should get out of the stock market and go to cash.

I’ll say this up front: the advisers I’ve worked with never sold their own investments while markets were getting hammered. What other habits of theirs are effective? 2. They take care of themselves: When the going gets tough, advisers get plenty of exercise and sleep, eat healthier, and spend time with family and friends. In this way, they’re better able to help their clients gain perspective and peace around the market’s turmoil.

Advisers are aware that market corrections can end quickly or drag on for weeks or months. In the worst bear markets, it feels like stocks will keep falling forever. Then, when you least expect it the market will begin to rise.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market spirals as coronavirus fears persist— Here's what to watchStock market faces its worst week since the financial crisis. Here's what three experts have to say. TradingNation
Source: CNBC - 🏆 12. / 72 Read more »

London stocks hammered as pandemic fears growLondon's stock markets tanked on Friday, with both benchmark indexes firmly... Go home london stock market, you are drunk. What fears
Source: Reuters - 🏆 2. / 97 Read more »

Here's the pitch deck that convinced Oliver Wyman's founder to back Trad3r - Business InsiderGaming app Trad3r lets users play a simulated stock market in real-time. We got a look at the pitch deck that convinced the founder of $2 billion consultancy Oliver Wyman to invest.
Source: BusinessInsider - 🏆 729. / 51 Read more »