{"id":496192,"date":"2024-11-06T16:24:51","date_gmt":"2024-11-06T21:24:51","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=496192"},"modified":"2024-11-06T16:24:51","modified_gmt":"2024-11-06T21:24:51","slug":"advisors-talk-trump-politics-and-investing-post-u-s-election","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/industry-news\/advisors-talk-trump-politics-and-investing-post-u-s-election\/","title":{"rendered":"Advisors talk Trump, politics and investing post\u2013U.S. election"},"content":{"rendered":"
There’s no shortage of, let’s say, “colourful” stories about re-elected President Donald Trump, and David McGruer’s family claims some Trump lore of their own.<\/p>\n
McGruer, a financial advisor with Investia Financial Services Inc. in Ottawa, said his family was preparing to move when they found a Trump-branded jewelry box among their effects; it contained a bag of shiny cat\u2019s eyes.<\/p>\n
\u201cWe said, \u2018Oh, we found Trump’s marbles,\u201d McGruer said in an interview. \u201cHe’s lost them, we found them.\u2019\u201d<\/p>\n
McGruer believes both U.S. presidential candidates left a lot to be desired.<\/p>\n
\u201cNeither of the party leaders had any sense of what is the proper foundation for political positions, rooted in the origins of the country \u2014 the [U.S.] Constitution and the Declaration of Independence,\u201d McGruer said.<\/p>\n
Economically, Trump\u2019s presidential win on Tuesday is set to have significant implications for tariffs<\/a>, taxes and regulations that would have spillover effects for Canada<\/a>. The financial advisors we spoke with on Wednesday were considering the election’s impacts and were also clear that clients shouldn’t be making rash decisions.<\/p>\n \u201cMy fundamental answer to the question of what about the U.S. election is, \u2018So what?\u2019\u201d McGruer said. \u201cIt doesn’t matter much in the short term, if at all. Predicting what markets will do over the four years of the coming term, based on my opinion or anyone else’s, is just pure speculation.\u201d<\/p>\n Whether a client is optimistic or worried about the election\u2019s impact, McGruer said his response to clients, ultimately, is \u201cit’s already factored in to your plan \u2026 It\u2019s built in to the very foundation of the assumptions we’ve made.\u201d<\/p>\n Jonathan Durocher, president of National Bank Financial Wealth Management, also referenced financial planning in a LinkedIn post <\/a>on Wednesday: \u201cGood wealth advisors will remind their investors that, while important, election results should not change much to your financial plan.\u201d<\/p>\n