Being inundated with headlines and posts has made this downturn feel worse to clients than previous market crashes, say advisors
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But these platforms are still relatively new and haven’t historically been where people went to find views on the market. Melissa Caschera, investment advisor at BMO Nesbitt Burns Inc. in Windsor, Ont., says she’s been through multiple downturns with many of her long-term clients, but the current environment stands out for its comparison to the early 1980s recession.
Mr. Shelestowsky says clients are feeling “fatigued” from seeing week after week of “red in the markets.” “People are maybe more aware that markets falling doesn’t have to do necessarily with their particular investment manager or Canada’s fiscal or monetary policy,” he says. “What’s going on in the market is driven by global factors more than local.”Advisors are taking different approaches to cutting through the social media noise and addressing clients’ concerns.
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