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Top Advisors Weigh In: Clients Want to Take Advantage of Market Dips

By Nick Godt April 22, 2020

FA-IQ reached out to top Financial Times-listed brokers to ask:

What is the biggest question you’re getting from clients amid the current market volatility, and how do you respond?

Randy Carver of Carver Financial Services. Mentor, Ohio-based Carver has been in the industry for 34 years and has $1.7 billion in client assets.

Seven out of 10 calls we have had from clients are asking how they can take advantage of the market dip – about three out of 10 express concern. We have been encouraged by how our clients are reacting thus far.

We emphasize that things could get worse before they get better and as always clients should hold cash for any anticipated expenses over the next six to twelve months.

With that being said, we see three opportunities today for longer-term investors.

Randy Carver

First, we believe this is a good time to convert taxable IRAs [individual retirement accounts] to Roths.

Second, there may be tax swap opportunities in taxable accounts.

Third, this is a good time to add to existing equity investments or invest in new ones. This may include rebalancing your portfolio and shifting some fixed income to equity. We do not believe in market timing but do believe in asset allocation. We believe that this is a good time to rebalance back to the agreed-upon mix.”

This is part of an ongoing series wherein we ask Top Financial Times 400, 300, and 401 Advisors to answer pressing questions about the industry, their practice or their clients. Brokers and advisors make it to the respective Financial Times lists based on scores in six criteria: AUM, AUM growth rate, years in existence, advanced industry credentials, online accessibility and compliance records.

Do you have a news tip you’d like to share with FA-IQ? Email us at editorial@financialadvisoriq.com.

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Tags:  Investment strategies , Portfolio management , Behavioral finance

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