Looking back at the economic crisis that unfolded in 2007, it’s clear now that the impact of events wasn’t limited only to financial markets. One may recall that the media at the time reported statistics that caused the hairs on the back of our neck to stand up and prompt us to replan our futures.
Financial institutions were for the first time in their history under scrutiny and the long-lived boom and bust cycle that we had become accustomed to was becoming less predictable by the quarter. A new era had begun, and since then people have become more involved in making active decisions about their finances.
Economic instability can take many forms. At present, the entire world is watching carefully to see what the relationship between the UK and European Union looks like at the end of October 2019 and even wondering whether Brexit will go ahead or not. It’s a political situation that’s having an impact on market stability and during times like this, people are quite rightly concerned about their own financial affairs and taking professional advice. With that said, here’s an insight into the value a financial adviser brings to your situation.
1. Financial Advisers are Highly Qualified
In the UK, financial advisers must attain a high level of training and education before being able to give advice. This strong regulatory framework means you’ll be in the safe hands of a competent adviser. Regular updates and training are par for the course and this results in advice that is continuously in line with current affairs and regulations.
2. They See The Bigger Economic Picture
Financial advisers are in a position to be able to see the bigger picture. By looking after a range of clients, advisers are privy to trends and patterns that wouldn’t otherwise be obvious. Being under the watchful eye of your adviser means they’re using this knowledge to make sure your position is as favourable as it can be. Advisers also have tools and data that are used to make considered decisions in line with your intentions.
3. They Add Perspective
Perspective is a useful tool when studying financial markets. Whilst Brexit is an unmissable topic right now, there are still other things to take into account. Brexit didn’t cause these other influences to go away and it’s still important to consider them.
4. Making Decisions Based Not on Emotion
When the financial future of you and your family are at stake, it’s completely understandable that people will make decisions based on emotion. This is a wholly comprehensible reaction but won’t always lead to the most favourable outcome. Being led by statistics, experience and an informed view of the current and unfolding situation, your adviser is often in a better position to advise on the most appropriate investments and to guide you in making better decisions.
If you would like to speak to Pippa or any one of our experienced financial advisers please contact our team on firstname.lastname@example.org or go to our contact page for more information.