Although fewer investors in Asia expected permanent post-coronavirus changes, more hand-holding than usual has been preferred during the pandemic, according to a recent UBS survey.
While just 71 percent of APAC investors expect permanent change as a result of the coronavirus outbreak, compared to 75 percent globally, more hand-holding was preferred in the midst of the crisis, according to the survey based on nearly 3,800 investors from 15 markets globally. 89 percent of respondents in the region wanted more guidance compared to the global average of 83 percent.
«As investors navigate the COVID-19 crisis, they are seeking the latest insights and more tailored advice on how to achieve their financial goals,» said Tom Naratil, co-president of UBS Global Wealth Management and President of UBS Americas.
Seismic Lifestyle Shifts
Still, a vast majority expect the world to be fundamentally different following the coronavirus pandemic and, as a result, intend to change their lifestyle.
46 percent of respondents could give up cities for less populated areas while half intend to move close to their families. Moving forward, seven in ten will reduce travel and trips to the office.
The pandemic also affected how 67 percent of investors thought about money with 69 percent interested in sustainable investing and 60 percent in philanthropy due to the coronavirus. 58 percent worry about having to work longer to make up for retirement losses while 56 percent fear not having enough saved for the next pandemic.
«The pandemic is causing many of them to rethink how they'll fund their liquidity, longevity, and legacy needs,» Naratil said. «That means wealth managers have an opportunity to play an even more important role in their clients' lives and prepare them for the post-pandemic environment.»
