Dear Members and Colleagues,
Interested in how Seniors have been adjusting first to COVID & now to the stress associated with War in Ukraine, Climate Change and cultural change & differences? AMT has been closely considering this question. We’ve found that Seniors, perhaps more so than other age groups, are very focused on the unique developments occurring in the 21st Century.
AMT is an Advocacy Group which follows changes in the Financial Services Industry. When the pandemic broke out in 2020, we formed a weekly Zoom Group Panel for Seniors, to track developments concerning vaccines, how to wear masks and not to take unnecessary chances by always protecting yourself from possible infection and being mindful of others. Fortunately, Stanley Zaborowski, M.D., a Board-certified Internist, who also was associated with Dr. Anthony Fauci when their respective paths crossed early in their medical careers, joined our Panel. Dr. Stan has been providing our Seniors with a weekly update on the pandemic for the past three years. All of these presentations are recorded on video for the benefit of those who may need access to a particular session.
While the pandemic is ever changing, so too is society! Fortunately, many folks (in all age brackets) are relatively up to date on the status of vaccine shots and boosters. And, thankfully, the U.S. work force is now back in action, even though more folks work from home now.
Since many Seniors are also retirees, you might think they are back to being retirees & keeping an eye on IRAs and other similar accounts. Actually, the pace for a lot of Seniors has picked up rather considerably. Spurred on by medical interests relating to the pandemic, the Senior sector has tended to assume greater responsibility for their own health-care now. Just ask any Doctor, appointments are different as Seniors tend to be asking rather articulate questions unlike straightforward acceptance of directions in most prior phases of their medical history.
In any event, Seniors are also generally inspired in this new era and are also tracking concerns about nuclear war, for example. They also keenly sense a connection between health-care and Climate Change. Seniors tend to follow in-depth script news reporting more so now (in addition to CNN, MSNBC and FOX). They realize war in this era can ultimately be global, in effect, just like Climate Change and coronavirus.
Seniors are now back to following the financial markets. They can see that mutual funds have declined in size and value. Seniors understand the economics of inflation and recession. Very importantly, because Seniors are keenly interested in all of the above, they are more facile when dealing with banks and investment firms.
Most significantly, Seniors get a lot out of talking about all of the above with their peers. They respect each other. And they want to hear others’ views because the facts and issues in this new Seniors' social environment are tricky. And there are new developments on a regular basis. Most importantly, many Seniors have younger relatives, including, of course, children and grandchildren. So they have their kids’ well-being on their minds every second of every day!
Based on the above analysis, AMT intends to re-evaluate its advocacy objectives in this first quarter of 2023. Our core business of organizing buy-side professionals regarding technology and SEC and other regulatory rule-making will surely continue. Frankly, our initial take is that Modern Medical Science (consistent with the above-mentioned developments affecting Seniors) is becoming more closely linked to the Investment Management Industry in this era of the 2020’s.
We would very much welcome any questions or comments regarding the above presentation and discussion items.
Thank you for your interest in AMT.
With best regards,
Joe Sack, President of AMT
Stanley Zaborowski, M.D.