STEPHANIE FORSHEE, REPORTER, FINANCIAL ADVISOR IQ: Hello. I'm Stephanie Forshee with Financial Advisor IQ. I'm here with Laura Kane, executive director and head of investment themes of the Americas at UBS. Laura, what can you tell us about what this election could mean for different types of investors?
LAURA KANE, EXECTUTIVE DIRECTOR AND HEAD OF INVESTMENT THEMES OF THE AMERICAS, UBS: The way we think about it is the different sector level implications. So certainly, in a [Joe] Biden scenario, in the blue wave scenario, we could expect to see more taxes levied on businesses. We could also see more regulation. So I think those would be things that the business owner client segment would be interested in and could be affected by. But this also has implications for wealthy investors, or really any type of investor, in terms of what this may mean for certain industries. So for example, we could see the energy or financial industries come under more regulatory scrutiny. So I would say a lot of these things really apply to all the different investor types, but in different ways.
Of course, in a red wave scenario, we have kind of the opposite situation, where we could see lower taxes, we could see less regulation. So these types of policy stances tend to seem more supportive for business owners. But again, they have implications for traditional investors as well.
STEPHANIE FORSHEE: Thank you, Laura.
LAURA KANE: Thank you.