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The firm had received margin calls from counterparties including BNP Paribas after its trades went awry, people familiar with the matter said.

It’s another action taken by wealth management firms to safeguard employees and clients from the coronavirus.

Clients are advised to keep some of their savings in cash and focus on their long-term prospects.

Certified Petra Coach Chip Gallent has led multiple businesses across a wide variety of verticals during his 25-plus year career. He has held C-level roles at a publicly traded dot.com, a technology firm and a leading non-profit, and as an entrepreneur ran his own technology consulting/business strategy practice. A visionary change agent, Chip excels at making companies more competitive and people more effective through operational improvement enhanced with the right technology. Contact him at chip@petracoach.com.

While many institutions are taking protective steps, others want to stay open to promote public confidence in the banking system.

“Americans need to know they have access to their money," Treasury Secretary Steven Mnuchin said.

Some clients can get an extension on paying taxes of up to $1 million and corporations can defer tax payments of up to $10 million.

First, prove you’re listening; then make sure they know you’re taking action to protect their portfolios.

“We are trying to balance the health and safety of the [CFP] candidates with their desire to complete the exam,” CEO Kevin Keller says.