Recently Wes Moss was featured in a Financial Advisor article on What To Do If Your Clients Are Freaking Out About A U.S. Default. Read the excerpted section of the article below.
Advisors are already fielding questions from clients about a potential default, even though the “X date” marking the end of America’s bill-paying ability won’t arrive until July at the soonest, according to a February 15 report from the Congressional Budget Office (CBO). As America’s date with fiscal destiny nears, advisors can anticipate mounting client queries.
One advisor said he is proactively owning the conversation. “We communicated heavily with clients during the debt ceiling flare-up in 2011 and are readdressing the topic today with the families we work with,” said Wes Moss, managing partner and chief investment strategist at Capital Investment Advisors in Atlanta.
Moss believes federal spending cuts are an inevitable part of whatever final accord the politicos reach. That would adversely impact defense, healthcare, information technology and other companies deriving significant revenues from the government. “Clients are focused on how the sectors and companies they invest in would be affected,” he said, adding, “We are not raising cash at this point.”
Read the full article here.
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