The news wouldn’t come as any surprise to Fidelity Investments’ call center staff, who fielded a record number of calls in January from participants checking on their 401(k) balances and investments.

On January 4 alone, nearly 4 million people called in to see what had become of their retirement savings.

T. Rowe Price participants weren’t exactly relaxed about the situation, either, where phone volumes ran 56 percent higher than normal during the first week of January and Web traffic was 30 percent higher.

Even though they’re also concerned about market volatility, 47 percent of advisors reported counseling their clients to sit tight despite the market’s ups and downs and stick to long-term plans. That could be easier said than done, although investors who manage to set aside their fears could see some opportunities amid the wreckage.

“Market volatility is an output of investor sentiment and history suggests that dislocations caused by volatility can present compelling opportunities for investors who remain calm, evaluate the fundamentals and take a long-term approach to their portfolios,” John Moninger, managing director at Eaton Vance, said in a statement.

Moninger pointed to the volatility spike in the later part of 2015 as the cause of investors’ emotional reaction and possible investment actions that could work against their long-range goals, and suggested that advisors point out the advantages of tax loss harvesting as a means of helping clients act prudently in volatile markets.

That could be a tall order, since 61 percent of advisors reported that they don’t believe their clients even know the effective tax rates on their investments—and just 45 percent of advisors said they harvest tax losses every year. Only 3 percent do so each month and 17 percent harvest tax losses quarterly.