Spooked investors swamp wealth managers with coronavirus calls - reports

Call volumes up more than 30%

Investment advisers have reported a massive surge in calls from clients in the UK and the US as they ask for guidance over how to manage the economic impact of the coronavirus pandemic, the Financial Times reports.

Wealth managers told the paper they had experienced spikes in the number of calls from investors this week. Some UK advisers said their call volumes were up more than 30% even taking into account the upcoming end of the tax year. Many are replacing phone calls with face-to-face video calls as they shift to home working, the report said. It added some managers were hosting daily or weekly calls to ease communication as they attempt to answers client questions. "When the market is going up your phone doesn't ring a heck of a lot," said Scott Wren, senior global market strategist f...