Alexandra Quitko Discusses the CARES Act with Financial Advisor Magazine

On Friday, March 27, Congress passed the Coronavirus Aid, Relief and Economic Security (“CARES”) Act, a federal stimulus program aimed, in part, at helping small business owners mitigate the financial stress caused by the COVID-19 pandemic. To learn more about ways financial advisors can assist their small business-owning clients with the CARES Act, Financial Advisor Magazine recently spoke with Alexandra Quitko, wealth advisor at Omnia Family Wealth.

One thing that Quitko says financial advisors need to understand in regard to the CARES Act, is that for most of their clients with small businesses, their businesses are their “babies.” Closing their doors or laying employees off is not just a business decision, but also an emotional trauma.

“Business owners need to be talking to their trusted fiduciary right now to determine which of the programs under the CARES Act is best for them,” said Quitko. “We hope this period of distress will only be for a few months. Our clients need their employees – many of whom are like family – to be there when we come out of this so they can rebuild their businesses and be profitable.”

There are two different loan programs with different rules, different repayment provisions and different usages available for small businesses through the CARES Act. These owners need to understand which they qualify for and whether they will be required to repay the loans, Quitko said. That’s where financial advisors come in by explaining their options and knowing all the program details.

Click here to read the entire Financial Advisor Magazine article.

Receive for Insights

This field is for validation purposes and should be left unchanged.

RELATED ARTICLES

Michael Wagner Explains the Role of a Portfolio Manager to U.S. News & World Report

Michael Wagner Explains the Role of a Portfolio Manager to U.S. News & World Report

Read More
Omnia Family Wealth Recognized in Financial Advisor Magazine’s 2021 RIA Ranking

Omnia Family Wealth Recognized in Financial Advisor Magazine’s 2021 RIA Ranking

Read More
Michael Wagner on Fox Business: Warnings from the Bond Market

Michael Wagner on Fox Business: Warnings from the Bond Market

Read More
Michael Wagner Explains the Fed’s Selling of Corporate Bonds Announcement to CFO Dive

Michael Wagner Explains the Fed’s Selling of Corporate Bonds Announcement to CFO Dive

Read More
Michael Wagner Discusses Faith-Based Investing with The New York Times

Michael Wagner Discusses Faith-Based Investing with The New York Times

Read More
Michael Wagner to Speak at the 28th Annual Planned Giving Council Symposium

Michael Wagner to Speak at the 28th Annual Planned Giving Council Symposium

Read More
Michael Wagner Discusses the Increased Interest in Municipal Bonds with Bloomberg

Michael Wagner Discusses the Increased Interest in Municipal Bonds with Bloomberg

Read More
Michael Wagner on Family Wealth Report’s Wealth Talk: How To Keep Investment Emotions in Balance

Michael Wagner on Family Wealth Report’s Wealth Talk: How To Keep Investment Emotions in Balance

Read More
Michael Wagner to Receive Leadership Award from the Greater Miami Jewish Federation

Michael Wagner to Receive Leadership Award from the Greater Miami Jewish Federation

Read More
©2021 Omnia Family Wealth, All Rights Reserved.