BT launches ad campaign to calm panicked investors
BT Financial Group will begin a one-off television advertising campaign from today, in an effort to reassure investors after an extraordinary week on the global sharemarkets.
BT chief economist Dr Chris Caton, who will front the ads, said unprecedented interest from investors had prompted the move.
The banking group has seen the highest ever call volumes in its contact centre in the past week, peaking at 11,000 calls on Monday, and surpassing the number of calls received during the Global Financial Crisis.
"The Australian stock market has been caught up in an international crisis of confidence," Caton says in the ad. "Investors are wondering when this roller-coaster ride will end."
Caton says more volatility in the short-term is highly likely, but adds that history shows the markets have always recovered.
"It's normal to want to do something as a reaction to the big changes in the market. The most important thing for investors is to gather facts and not make knee-jerk moves based on panic," he says.
The ads - to be broadcast from today - are an attempt by one of Australia's largest wealth managers to ensure investors and super members consider their options carefully, or speak to their adviser in order to avoid acting on impulse.
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