You chose to work with an Advisor because you want help achieving your financial goals. But Advisors bring much more value to the table, especially in extraordinary circumstances.
Day-to-day life is challenging enough, but layer on a global pandemic and the complexity increases several times over. Major changes in life have included the need to work from home for many people, disruption in children’s education, physical distancing measures, reduced or modified social interaction, and much more.
However, one thing that hasn’t changed, and won’t change, is the unbreakable relationship people have with their Financial Advisor. Pandemic or not, an Advisor provides welcome support to clients at all times. In addition to the obvious support of helping clients reach their short-term and long-term financial goals, Advisors also provide the often-overlooked yet equally important support of guiding clients emotionally through times like today’s difficult environment.
For instance, the pandemic has created widespread financial hardship. Financial uncertainty can be an added source of stress for investors when markets are extremely volatile. My goal is to help alleviate some of that stress by constructing a custom plan that includes strategies for saving, investing and retirement planning. This customized plan will help manage risks, so clients are in a stronger position to achieve their multiple financial goals.
Adding extra value in difficult conditions
A personalized plan helps clients feel more confident in staying the course and remaining disciplined when markets are turbulent. An Advisor helps clients manage the emotional side of investing, so they don’t panic when circumstances are unfavourable. In turn, this keeps them from over-reacting and either selling at an inopportune time or becoming greedy and trying to make a quick profit without comprehending the risks involved.
It’s one of the key ways that Advisors demonstrate their value. Advisors are trained to keep clients calm in volatile conditions and focused on their plan and their long-term goals. They also provide oversight on what’s happening in the markets and economy and can explain it clearly so clients have a better understanding of current events and can put things into context. Having good knowledge, proper perspective and reassurance from a trusted Advisor may help ease a client’s stress and anxiety.
The power of being prepared
This pandemic has shone a light on the need for a strong estate plan. As your Advisor, I can walk you through the steps required to build or re-assess your estate plan, including the importance of having an up-to-date Will and Power of Attorney. Such a plan is especially valuable if you have a spouse and children/grandchildren, if you’re a business owner, if you own one or more properties (e.g., primary residence, cottage, rental property, business) or if you’d like to leave a legacy (e.g., provide an inheritance, create a foundation or other ways to support your favourite causes).
Also crucial during these challenging times is having liquid assets available in case an unforeseen situation requires quick access to cash. As your Advisor, I can help ensure that you don’t have all of your assets tied up in investments that are not readily available, if needed, in the short term.
As the complexities of today’s world continue to impact the global economy, our personal lives and our communities, it’s easy to become overwhelmed. Rest assured, I am fully committed to supporting you and giving you peace of mind during these stressful times. Together, we will work on maintaining and adjusting (as required) your financial plan, so you’re on track to achieve your short-term and long-term goals.
We’re here to serve you. If you have any questions regarding your financial plan or what’s going on in the world today, don’t hesitate to contact our office.