Proactive planners ease client concerns
Friday, 4 July 2008 12:15pm
Clients of proactive financial planners are less stressed about their asset allocation and overall portfolio after being sent educational material during equity market corrections.
Chris Browne, Financial Design for Life senior financial planner, said the firm sent pamphlets to clients about how an international financial downturn affected Australian equity markets which appeared to relieve their anxiety.
“We sent out a pamphlet late 2007 which really broke it down and made it easy to understand. After that we did get some phone calls but it was more about clarifying what the content than anything else," said Browne.
“We referred to study which found that if you pulled your money after a correction, what long term financial implications could result. It was a technical piece but I only sent it out to my high net worth clients."
After sending the information to clients, Browne said, some clients decided to alter their portfolio and invest in cash.
Ross Curulli, Hall Chadwick director and financial planner, said it was an ideal time to talk to clients and reaffirm their financial goals.
“We're very pro-active with clients and where they're at in the achievement of their outcomes and goals. At this stage I would say [volatile equity markets] are topical, rather than us getting phone calls about it," he said.
Michael Hobbs
This story was found at: http://www.financialstandard.com.au/news/view/23438
Printed: Tuesday, 6 January 2009 5:17pm