|
Challenges for financial advice in the post-Covid recovery
Although still with insufficient strength, we are probably at the beginning of the economic recovery. After more than a year accompanying clients in a journey of unprecedented health and economic crisis, we are heading for a change of cycle in which we will have to incorporate even greater challenges.
So far, we should have avoided abrupt sales and changes in our customers’ investment portfolios and thus taken advantage of the surprisingly positive global market behaviour during the pandemic. Whether we have fully achieved it or not, we now face a long phase of economic recovery that will be accompanied by opportunities, but also by risks derived from the enormous imbalances that the economic collapse has generated. The means that governments have used to soften the crisis, such as public over-indebtedness, almost infinite monetary expansion, and support for sectors that sometimes have little future, which has slipped between direct support to companies and industries that really need them, will be hindrances that could delay the return to stability.
It is a good idea to start preparing our professional response to a very complex situation from here on. We must face, simultaneously, a very demanding situation, and the acceleration of the changes that have long loomed over financial services and that financial advice has to...
|
