Global jitters highlight value of advice: AFA
The current global financial jitters highlight the value of financial advice, as clients lean on advisers to guide them through difficult times, according to Association of Financial Advisers (AFA) president, Brad Fox.
Fox called on the industry for calm, and to focus on clients and the fundamentals.
“When everyone around the world is losing their heads, the role of advisers is critical; they are the guides and coaches providing a steady hand, a cool head and wise counsel that keeps clients on their financial journey – despite the turmoil in markets,” Fox said.
The AFA chief executive officer Richard Klipin agreed, saying the market scare also illustrated why opt-in was “poor policy”.
“In a world where opt-in exists, consumers will be left out in the cold at times like these,” Klipin said, adding the antidote to opt-in was to strengthen opt-out in financial services guides, statements of advice, annual statements and correspondence with clients.
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