Financial advisory firm moves contactless
UK advisory business deVere Group has moved to a contactless advice service for those clients who are social distancing because of COVID-19.
The financial advisory business said the increase in people quarantined or choosing to social distance themselves made it difficult for them to see a financial adviser.
However, this coincided with an extremely volatile period in stockmarkets with markets reporting falls of as much as 10%, making it important investors were aware of how it was impacting their portfolios.
Its contactless advice service included the use of apps, a fact find and a customised report and clients would have the option to book an e-meeting with an adviser.
Nigel Green, chief executive of deVere Group, said: “The free contactless advice service will include a wealth scan in which you and your professional adviser will discuss your financial objectives and answer any questions you may have; a fact find in which your adviser will discuss your current financial situation with you; and a customised report which your adviser will analyse and discuss with you and outline your recommended next steps, if any are needed.
“Moving forward you'll be able to track your entire portfolio and financial strategy in real time and book an e-meeting with your adviser, should you have any queries.
“Experts agree that very seldom is it a good idea to take a DIY-approach to something so fundamental to your life as your finances. With the financial and economic landscape shifting and evolving so rapidly, this, I suggest, is certainly not the time.”
AUTHOR
Laura Dew
Recommended for you
AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity.
Financial advisers will have to pay around $10.4 million of the impending $47.3 million CSLR special levy but Treasury has expanded the remit to also include super fund trustees and other retail-facing sub-sectors.
While social media can have positive financial influence, the overwhelming risks signal a greater need for affordable advice as Australians continue to seek financial education on social media.
Fitzpatricks Advice Partners has released a guide on building a national advice firm with the argument that these firms are crucial to facilitating growth in the struggling profession.
