Advisers cool in face of sell off
By Will Grahame-Clarke, 6 Feb 18
IFAs react to the sell off that saw stock markets around the world drop sharply on Tuesday morning and tell International Adviser how they and their clients are reacting.
Ed Read-Cutting, director of The Fry Group, Belgium, said: “Firstly no calls at all and secondly the volatility has been predicted for some time, so this is not a surprise and our clients know this.
“The Fry Group invests clients’ money for the long term and do not trade. I know outsourcing investment management and the use of models and DFMs is back in vogue but we have been doing this for years and so, in many ways, this relieves the pressure and allows us to focus much more on financial planning.
“As Warren Buffet (allegedly) says, and if he doesn’t someone else will have done: ‘market sell-offs present opportunities’.
“As such, I am recommending to clients to take this opportunity and add some cash, if they have some in their portfolio – this will inevitably be newer clients whose money is being phased in.
“So business as usual here, no panic.”
Tags: DeVere Group | Forth Capital | Perceptive Planning | Spectrum IFA Group | The Fry Group
