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This qualitative pragmatic inquiry study explored independent financial advisors' strategies to prepare for an economic crisis, emphasizing recessions, specifically the COVID-19 pandemic. This dissertation includes an analysis of the researcher's observations of the participant's experiences during and after a recession. Recessions are part of the natural business cycle and are inevitably bound to occur in the future, but utilizing strategies that have worked in the past can help IFAs prepare for them. Data was collected via interview questions recorded and transcribed on Microsoft Teams. The researcher sought to advance theoretical knowledge by exploring and identifying key strategies, tactics, and methodologies IFAs used during an economic crisis that assisted them in combating recession-related hardships. The participants lived in multiple regions in the U.S. and had various experiences working as IFAs. Several themes were identified during the analysis, alluding to potential successful methods that IFAs could implement to counteract the hardships associated with recessions. This study could help IFAs establish a better business model with defensive and offensive policies.