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Stock impact report

Brokers must prepare for unparalleled conditions [FT.com - Mergermarket]

UBS Group AG Registered Ordinary Shares (UBS) 
Thecoronavirus pandemicThe resulting economic shock of recent weeks has also created unprecedented disruptions which have left many people confronted with pressing questions about job security, threats to household income, tax liabilities, and the survival of their businesses. Financial advisers now face the task of dealing with many clients who, beyond all this, will probably have suffered sharp falls in the value of their assets.Louise Gunderson, an FT 400 adviser with UBS Financial Services in New York, has vivid memories of the last financial crisis. When the stock market began dropping in February, the first thing she did was check that her clients had enough cash. “After 2008, I make sure people have at least a year of cash flow available,” Ms Gunderson says.Like many other advisers, Ms Gunderson and her team of seven have spent most of their time in recent weeks reassuring investors about their long-term plans and talking through clients’ personal worries.Operational challenge Show less Read more
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