By Peter J. Brennan

The first quarter was unlike anything seen in the world’s financial markets. The markets reached an all-time high in February and when the coronavirus struck, they plunged more than 30%, including the 13% drop of the Dow Jones on March 16, the second worst day in its history.

The Business Journal asked seven OC-based wealth managers what they are telling their clients. Their edited responses follow.

"In general, we have not been recommending material changes to long-term portfolios as a long-term asset allocation strategy is constructed to get through periods like this," shared Debashis Chowdhury, President, Canterbury Consulting. "However, one should look to the current environment as a place for investment opportunities. The level of volatility and selling across both equity and credit markets has come close to, and in some cases, exceeded historical highs. Time is an extraordinarily powerful tool that one must exploit to mitigate the inevitable short-term volatility of these asset classes."

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