October 20, 2016
The overheated rhetoric from the last few weeks of the presidential campaign is concerning voters – and private bankers and wealth managers. No one is sure whether Donald Trump will actually put his proposals into effect. Nor are they sure how the administration of Hillary Clinton would tax the wealthy. This is putting bankers and wealth managers in the position of having to reassure clients, as the election looms closer.
According to Joe Quinlan with Bank of America, most clients are expecting more of the same, with a divided government in Washington. Others are anticipating the next administration to have to handle an economic recession, though Quinlan said such fears are “overblown.”
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