The global pandemic has caused significant market volatility and impacted many clients’ retirement plans.
In fact, about one-quarter of clients that have less than $500,000 in investable assets are thinking about delaying their retirement due to COVID-19, according to a Canada Life survey. Further, about 15% of clients in that group may downsize their retirement lifestyle expectations.
“We’ve all watched the economic uncertainty, tremendous market volatility, and significant rebound,” says Paul Orlander, EVP Individual Customer, Canada Life. Advisors need to help clients with new and different ways of thinking about their portfolios. They need to protect clients from the unexpected while still helping them to reach their goals.”