With just 84 days remaining until the U.S. Presidential Election, now’s the time for investors to ‘President-proof’ their investments.

As it stands, Democrat former Vice President Joe Biden looks set to be the likely winner against President Trump. Biden has been leading numerous national polls and in nearly every poll in the main six battleground states of Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin.

Nevertheless, according to latest polls, President Trump’s position is no longer weakening.

Of course, as expected global media has been dominated by the coronavirus pandemic over the past five months. Therefore, it’s not hard to forget that the defining issue of 2020 for investors was always supposed to be the U.S. Presidential Election.

Whoever wins on November 3, we will likely see some key policy shifts which may impact investments, tax, regulatory landscapes and corporate earnings, as well as other issues, over the coming four years.

There’s increasing chatter that Biden could secure a ‘blue wave’ Democratic sweep of the House, Senate and presidency. If this should be the case, it will likely impact risk assets, including equities.

In addition, it could mean tax increases for higher earners and corporations, a possible wealth tax, Big Tech firms could break up, environmental reforms, more regulation and increased healthcare spending.

When it comes to economic policies, Trump, the incumbent, and Biden have very different ideas.

Trump’s policies would probably involve tax cuts, a hike in infrastructure spending and deregulation, which would be positive news for stocks and other risk assets.

Furthermore, he would also likely boost his ‘America First’ stance to international commerce and double down on trade issues with China.

As such, investors should now be looking to review their investment portfolios and strategies.

As always is the case with a U.S. presidential election, we will see investment winners and losers. This time around they may be even more prominent as the two candidates offer very distinct administrations.

That said, the priorities of whoever wins the keys to the White House could also alter rapidly to respond to unanticipated events, as we’ve witnessed so radically this year.

Consequently, savvy investors should be reviewing their portfolios to make sure they are as ‘President-proof’ as they can be, to make the most of the opportunities and sidestep the risks, irrespective of who the next U.S. President will be.

This means sufficient diversification across asset classes, sectors, geographical regions and currencies.

Nothing should be taken for granted in this year’s Presidential Election. Therefore, investors need to act now to accumulate and protect their wealth in any outcome.

Nigel Green is CEO and founder of deVere Group, one of the world’s largest independent financial advisory and fintech organisations.