Whether markets rise or fall during the Donald Trump presidency, investors are probably in for a bumpy ride. Advisors should be ready.

Trump’s victory in the 2016 U.S. presidential election signals a changing relationship between government and the people—which could send markets into further turmoil as his inauguration draws near, market participants say.

“Trump’s victory leads to as much or more uncertainty than if Clinton had won,” says Tim Steffen, director of financial planning at Robert W. Baird, a financial services firm.

Though U.S. equity futures plummeted several percentage points the night of the election and the following morning, the market recovered during the day as investors digested the electoral results.

The swing from futures pessimism to market optimism made sense to Brian Menickella, managing partner and head of the corporate retirement practice at the Beacon Group of Companies, a full-service financial firm.

“Trump is a businessman first and foremost. He stands for businesses in general,” Menickella says. “While I’m not surprised by Wall Street’s initial reaction in the futures markets, I had anticipated the return bounce today as the results were analyzed. Ultimately, a presidency in favor of business is in favor of growth, and that is a positive sign for Wall Street.”

While the market is likely to have its ups and downs as the implications of Trump’s presidency are made clear, investors should be encouraged to stay put, says Roger Aliaga-Díaz, a senior economist with the Investment Strategy Group at Vanguard.

“It’s important for investors and for our clients to remember that volatility increases in every election, particularly in years where there is a change of party in the presidency, and sooner or later markets always go back to fundamentals,” says Aliaga-Díaz. “The U.S. economy in particular has shown resilience compared to a much weaker global economic environment. We are optimistic about the long term.”

Additional volatility is possible after Trump takes office and attempts to implement new policies. Steffen believes that Trump will try to make good on many of his policy promises, including consolidating income tax brackets, repealing the estate tax, repealing the Affordable Care Act, and potentially eliminating or reducing taxes on businesses, including those taxed as pass-through entities like S corporations.

Joe Duran, founder and managing director of United Capital, says that the economic impact of Trump’s anticipated proposals is predictable—Trump should send financial markets on an upward trajectory.

“The immediate response is more of an emotional and personal reaction than an economic one,” Duran says. “The reality is that nobody knows what any of this means until he starts to push his policies through Congress. The pendulum is swinging to reduce regulation and taxation and to get government out of people’s business—and that is ultimately good for business. Americans are going to be willing to embrace those policies.”

Trump’s promises of trillion-dollar infrastructure programs could also boost financial markets, especially among the long-suffering American industrial and transport sectors, and the financially challenged energy sector, executives said.

Since Republicans control both houses of Congress, Trump will have little trouble finding sponsorship and support for most of his policy proposals. Yet the days of divided government are far from over, says Steffen, as Democrats still have large enough representation in the U.S. Senate to prevent bills from being voted upon.

“The fact that Republicans retained control of both houses of Congress will help Trump achieve his priorities, but without a filibuster-proof majority, he still faces an uphill climb,” Steffen says. “We could be looking at another couple of years of gridlock, at least until after the 2018 midterm elections.”

That leaves investors with the uncertainty of whether any of Trump’s plans will actually be implemented—and volatility thrives on uncertainty. Increased volatility will turn investors’ eyes to the Fed, where most observers anticipate an interest-rate hike based on positive economic indicators—but volatility could tie policymakers’ hands.

“The bond selloff reflects concerns that the Fed will stay on hold in the wake of the Trump uncertainty,” said Scott Minerd, chairman and global CIO for Guggenheim Investments. “The Fed should move to raise rates in December to offset the strength in the economy. No action could be viewed as political if data remains strong.”

In written commentary from Hartford Funds, Tom Siomades, head of its investment consulting group, said that the Fed should move in December, “unless the stock market selloff persists worldwide.”

In an analysis, Janus Capital group argued that a Trump presidency could actually spur growth via infrastructure spending and tax cuts. Such growth should gradually push the Fed toward interest-rate normalization.

“The outlook for select equity sectors may also be positive,” Janus wrote. “The increased infrastructure spending promised by Mr. Trump will benefit the industrials sector. We are also moderately bullish on the financials sector and anticipate that regulations in the sector could loosen at the margins.”

Janus also predicted that the energy and health care sectors would benefit from a Trump presidency, but did not believe that all of Trump’s calls for reform would be successful.

“We do not believe that Mr. Trump’s campaign promise to abolish the Affordable Care Act will be feasible,” Janus wrote.

Siomades disagrees, saying that Obamacare as we know it is doomed and the health-care sector will be pressured well into the next year as a replacement plan materializes.