PORTLAND BUSINESS JOURNAL: As Market Wobbles, Wealth Managers Urge Clients Not to Panic
This article was originally posted in Portland Business Journal on March 9, 2020. Here’s an excerpt below featuring our fearless leader, Georgia Lee Hussey. Read the full article here.
Five local Investment advisers said they've been preparing clients for a market downturn for years. They urged clients to think rationally and not discard long-term plans.
"I've been preparing people for so long for this," said Modernist Financial founder and CEO Georgia Lee Hussey. The firm manages roughly $35 million in assets.
Hussey said in 2017, with the stock market on a steady upward march, she asked each of her clients the same question: When the market corrects, what do you want me to say that will remind you to stay invested for the long term?
On Monday, Hussey was calling clients and reading them back their answer. She's giving each the same basic advice: "Your plan still works. Down markets are built into investment strategies."
Other local firms echoed Hussey's approach to what's become the most volatile market since the 2008 economic crisis.