Without a doubt, 2020 has more than earned its nickname, “the year of uncertainty.” With the evolving COVID-19 pandemic and its economic repercussions, anxiety and financial stress have been unavoidable. A recent survey found that 75% of Americans have experienced financial insecurity.
In the midst of the uncertainty, nearly 60% of people say the COVID crisis made them recognize the need for life insurance and long-term care insurance. And almost half say the pandemic has heightened the need to protect their retirement income. As a result, one in four people is seeking professional financial advice for the first time. And, just like everything else, working with a financial adviser looks a little different in the wake of social distancing.