Wildfires, floods, hurricanes, terrorism, pandemic. Locally or globally, catastrophe has been arriving with greater frequency and intensity than ever before. Many of these incidents have also heralded significant market swings. But none have been so drastic and sudden as the one caused by the coronavirus.
In just weeks, the global financial markets lost historic chunks of value. With AUM down significantly, wealth managers and financial advisors are under tremendous pressure to protect margins.
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