Firms that provide the infrastructure for the online economy have demand for their services boom during the pandemic.
A process similar to the "five stages of grief" can be seen in market crises, including the current one.
With the adoption of Regulation Best Interest (Reg BI), the US Securities and Exchange Commission (SEC) is imposing an enhanced standard of conduct on broker-dealers and their associated persons when making recommendations to retail customers.
While crisis-level activity has largely subsided, advisors remain very active relative to "normal" levels of activity we saw during the bull market run.
During these volatile market swings and stay at home orders for investors, advisors remain very active. Investing activity last week was still two times average transaction volume as compared to the past 18 months. While the equity markets showed strong performance last week, advisors remained in a neutral risk stance. Cash as a percentage of portfolio dropped to 5% from 6.2%, a nearly 20% drop in cash allocations.