Investment News: Financial advisers reach out to clients as stocks plunge in Brexit wake
“I agree, of course, with staying the course,” one client responded to an email sent early Friday morning by Dave Yeske, managing director of Yeske Buie. “In fact, I would be interested in your take on when it would be appropriate to buy a bit more, and if so, how we do that?”
Mr. Yeske said he responded to the first incoming client email about the Brexit vote at 2:20 a.m. ET, calming someone nervous about the impact on her 401(k) investments. Mr. Yeske sent out a note to all clients a few hours later, suggesting the market reactions over the next week should not be extrapolated far into the future.
“Is it true that this development has negative ramifications? Yes,” the note said. “Will the more apocalyptic predictions now spilling forth come true? Almost assuredly not.”