FA-IQ reached out to advisors to ask: What are the financial planning lessons people should learn from the Covid-19 pandemic?
Brian Buckley, managing partner and chief investment partner at Buckley Wealth Management. Las Vegas-based Buckley has been in the industry for 43 years and has around $530 million in client assets.
#1 Don’t panic. Keep the long-term view in focus.
Michael Durso, founding partner and chief investment officer at ShoreHaven Wealth Partners. Red Bank. N.J.-based Durso has been in the industry for 16 years and has around $360 million in client assets.
Providing our goals-based financial plans allows us to remind clients to focus on the big picture and the time horizon for their money. No one could have predicted where markets would have been six to 12 months after Covid hit. That gave us the perfect opportunity to remind clients why we build diversified portfolios for the long run and why timing the market is impossible.”
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