A fresh round of market volatility last week reminded investors that what goes up inevitably must come down — even if only for a little while. Financial advisors say their clients are reaching out for information but aren't panicking just yet.
We caught up with several financial advisors to get their take on what's keeping individual investors awake at night.
Lydia Sheckels of Wescott Financial Advisory Group said her clients have been worried for a while.
"We've been in this perpetual state of anxiety probably the last 15 years," she said. "Our clients are just bracing for the next crisis, [and] the role of the advisor right now is to give them some ... perspective."
Jon Yankee of FJY Financial thinks "there's a tremendous amount of uncertainty" at the moment, with global geopolitics, the U.S. president election and the rise in interest rates all leading "to markets being extremely volatile — and that uncertainty causes clients to need more hand-holding."
For her part, Erika Safran of Safran Wealth Advisors has capital gains on her mind, noting many clients will face huge tax bills, thanks to substantial payouts from managed funds.
Meanwhile, Barry Glassman of Glassman Wealth Services thinks things are simply getting back to normal and that his clients can handle that. "What happened this past summer [was] a great test for clients as far as what can they handle, both financially and emotionally, when it comes to volatility," he said. "We're just starting to see normal volatility come back."
