This has fortunately not been an issue for clients at our firm, as losses have been relatively small to non-existent. However, it has been an issue for the many folks looking to become clients. We are having to approach this carefully and with some sympathy.
They want to work with us because we have avoided the carnage. Those most likely to be looking our way have suffered a great deal. We are looking at it on a case by case basis. At minimum we can give them some good advice about next steps, even if we are not going to have an ongoing relationship.
In essence we need to step up to the plate even though we cannot afford to take every potential client and make sure that people have what they need to move forward intelligently with or without our direct involvement.
Hat tip: Greg Mankiw
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