Financial Advisors May See Increased Demand due to the Economic Uncertainty

Financial planners and investment advisors have continued working from home during the COVID-19 crisis.

With more US states announcing plans to reopen, some have begun to phase in a return with limited numbers allowed to be on the premises at any one time but most do not anticipate returning to their offices within the next few months.

Companies are making investments in digital meeting technologies to improve the remote working experience.

Many financial technology companies are also providing free access to online tools for planners who are working remotely.

Financial markets are beginning to show signs of recovery as states reopen their economies.

In May, the S&P 500 index rose significantly compared to March lows.

It is likely that investment advisors will see increased demand for their services from investors concerned about the financial fallout of COVID-19.

Financial planners may also see increased business from new clients looking to build savings in preparation for future emergencies.

The CARES Act made changes to rules for investment vehicles such as 410ks. As a result, advisors may see more demand from clients to withdraw funds to cover expenses.

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