Advocis: Talk to your financial advisor or planner
TORONTO, Oct. 14 /CNW/ - Consumers with concerns about their financial
future, especially in the wake of the global financial crisis, should speak
with their financial advisor or planner suggests Advocis, The Financial
Advisors Association of Canada.
"With all the recent news about failures and takeovers in the financial
services sector, advisors and planners have continued to advise their clients
as they do during stable market conditions," said Teresa Black Hughes, Chair
of Advocis' Board of Directors. "Advisors and planners can never - and should
never - guarantee infinitely positive rates of return; however, they can
provide sound counsel to their clients on the best ways to reduce the negative
side effects of the current situation."
Advocis advises that a financial strategy developed by an advisor or
planner who has taken the time to understand a client's needs and goals should
be able to weather turbulence - even severe turbulence - in the market.
However, broad-based media generalizations, apocalyptic headlines or financial
analysts' speculations are not the best source of information about a
consumer's financial security. Consumers should be contacting their financial
advisor or planner to discuss recent developments in the investment
marketplace and make any adjustments to their plan, as required.
"The most important thing is not to panic. The next most important action
is, if you're concerned, to talk to your financial advisor or planner. They
want to hear from their clients. It's their job to answer your questions,"
continued Ms Black Hughes. "Your financial future is too important."
Advocis, The Financial Advisors Association of Canada, is the oldest and
largest voluntary professional membership association of financial advisors
and planners in Canada. With more than 10,000 advisors and planners in 43
chapters across Canada, Advocis members provide financial advice, product
service and employee benefit planning to millions of Canadians in a number of
areas including estate and retirement planning, wealth management, risk
management and tax planning. For more information about Advocisvisit
For further information:
For further information: Ann Walker at (416) 342-9838 or Brett McDermott
at (416) 342-9814