The ripple effect of a calamity on nerves and the markets

For Edward Kohlhepp, a certified financial planner with Kohlhepp Investment Advisors Ltd. in Doylestown, Pa., the memories of 9/11 are still vivid
SEP 11, 2013
For Edward Kohlhepp, a certified financial planner with Kohlhepp Investment Advisors Ltd. in Doylestown, Pa., the memories of 9/11 are still vivid. “It took us months to feel normal — businesswise and personally. Everything was moving in slow motion,” he said. “I found that people in the mid-Atlantic region either knew someone, or knew of someone, who had been killed.” Several weeks after the tragedy, Mr. Kohlhepp and his wife, still with sick feelings in the pit of their stomachs, left for South Carolina on vacation. “What we found was very startling to us — the people down there felt bad about it, but they didn't have the same gut feeling as we did,” he said. “It hit close to home in two ways. I have a close colleague who lost a daughter in the Twin Towers, and I have two friends who were close to the pilot who went down with the plane in Western Pennsylvania,” Mr. Kohlhepp said. There still is an effect on his practice.

TERRORISM AND THE MARKETS

“Many of our clients are still very concerned about terrorism, especially when the markets go south. They ask about the potential impact of a terrorist act on the markets. And they're going to be more reminded about that issue now that the anniversary is coming up,” Mr. Kohlhepp said. “It has had an effect on our lives that is much deeper than what's apparent on the surface. For example, when we travel by air, now we have to go through the [Transportation Security Administration] lines,” he said. “Even with the recent hurricane, there was very little impact on Ground Zero, yet they showed it on TV. It's never really completely removed from your thought processes.”

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave