NEW YORK (TheStreet) -- U.S. markets are continuing to decline on Monday following the decision by the U.K. on Friday to exit the European Union.

CNBC's Kelly Evans asked Scott Hanson, the co-founder and CEO of Hanson McClain Group, and Wells Fargo Funds Chief Portfolio Strategist Brian Jacobson what the individual investor should do in this situation, as the Dow is down 900 points since the vote.

"I think some are getting a little nervous right now. We see a pull back. But I think for many this should be a wakeup call. If you look over time we have some serious pullbacks. But over the last 50 years we've had eight times where the market fell more than 20%, we haven't had a major pullback in a while and I think a lot of investors need to get ready," Hanson told Evans on "Squawk on the Street' Monday morning.

Looking for some clarity on his statement, Evans pointed out the difference between professional investors, those whose job it is to deal with market swings such as this one, and someone sitting at home with a 401K or investments in a few companies. "Are they expected to maybe look at this as an opportunity in the U.S. long term?" Evans asked.

"Right now people need to look at, do you have the right kind of balance in your portfolio? Since the financial crisis we saw a lot of people get more conservative, but as things got better we had more and more clients say, 'hey, should we get more aggressive?' and with interest rates near zero, negative in some places, it's been a tough time for individual investors," Hanson said.

Switching gears, Evans then raised the question of bonds and the current difficulties in finding people comfortable in buying bonds.

"I think for people that don't want to buy bonds because yields are so low, you almost just have to sort of bite the bullet and just do it at these points," Jacobson noted. "Inflation is a lot lower than what it has been historically. There's a savings glut that's in existence for going over 10 years now, and so don't anticipate that rates are going to go much higher."

There are still good opportunities to be found in the more conservatively managed high yield strategies that are out there, Jacobson continued, noting that you can still overcome inflation by a "handy margin." Jacobson feels that is where investors should be looking.