{"id":170147,"date":"2020-05-07T10:00:14","date_gmt":"2020-05-07T14:00:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170147"},"modified":"2020-05-07T07:34:17","modified_gmt":"2020-05-07T11:34:17","slug":"demand-for-financial-advice-surges-24-as-priorities-shift-in-new-era","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/demand-for-financial-advice-surges-24-as-priorities-shift-in-new-era\/","title":{"rendered":"Demand for financial advice surges 24% as priorities shift in new era"},"content":{"rendered":"
May 7, 2020<\/div>
\r\n<\/div><\/div>

By George Prior<\/strong><\/p>\n

As individuals, households and businesses readjust and look ahead to a new era and recovery, demand for financial advice is up by almost a quarter, reveals one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

deVere Group, which operates in 100 countries worldwide, says the number of enquiries from new clients was up 24% in April, compared to the previous month.<\/p>\n

Of the findings, Nigel Green, the founder and chief executive of deVere Group, observes: \u201cDisruption and dislocation have hit entire economies and businesses of all sizes and in all sectors.<\/p>\n

\u201cThis has had a very real and very immediate impact on the finances of individuals, households and businesses around the world.<\/p>\n

\u201cSuddenly, unexpectedly, many have realised that they didn\u2019t have sufficient money behind them, they didn\u2019t have contingency plans.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

\u201cThis, as they know, could have consequences for the lifestyles and life opportunities of themselves and loved ones and, for those in business, for the long-term sustainability of their firm.<\/p>\n

\u201cWith financial matters back in sharp focus, for many \u2018I should have\u2019 becomes \u2018I need to have.\u2019<\/p>\n

\u201cThis most unusual situation has dramatically underscored that no-one really knows what is around the corner. Now more than ever people are seeking to be as financially prepared as they can for any eventuality.\u201d<\/p>\n

He continues: \u201cThe same thing happened following the 2008 financial crash. That too served as a wake-up call to many people to ensure that they become financially secure and there was a subsequent increase in demand for advice.<\/p>\n

\u201cEven then – when confidence in financial institutions, especially traditional banks, was at an all-time low \u2013 people understood that as the world evolves, your financial planning strategies might need to also.\u201d<\/p>\n

This, says Nigel Green, is driving the increasing demand. But in this tech-driven era, how do people want this advice delivered?<\/p>\n

According to a poll carried out by deVere amongst existing and prospective clients, 52% said \u2018face-to-face, 42% said they prefer videocall platforms like Zoom, and 6% answered \u2018by telephone.\u2019<\/p>\n

\u201cGiven the circumstances and how much things have changed, I quite was surprised that the preferred option for the delivery of financial advice remains face-to-face.<\/p>\n

\u201cBut video communication is only 10% behind, which is quite something as it is a new platform for most people.<\/p>\n

\u201cThe survey underscores that increasingly people want bespoke financial advice combined with innovative technology.\u201d<\/p>\n

Mr Green goes on to add: \u201cWe can be in no doubt that the world has already fundamentally changed \u2013 and it will do so more and maybe at a faster pace.\u201d<\/p>\n

This was highlighted by the deVere poll which revealed that 72% of client respondents feel the world has changed permanently.<\/p>\n

In addition, 80% said that in a similar way to after the 2008 crash, new companies will emerge and the same ones that were successful in the past were not guaranteed to succeed again.<\/p>\n

\u201cWith these shifts impacting people\u2019s finances, the majority of our new clients are seeking advice on savings plans, investments, foreign exchange, pensions and retirement planning and tax planning,\u201d he notes.<\/p>\n

The deVere CEO concludes: \u201c2020 has been a year of change.\u00a0 For an increasing number, this includes a change in the way we prioritise, with long-term financial security for ourselves and our loved ones ever-more important.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior As individuals, households and businesses readjust and look ahead to a new era and recovery, demand for financial advice is up by almost a quarter, reveals one of the world\u2019s largest independent financial advisory organizations. deVere Group, which operates in 100 countries worldwide, says the number of enquiries from new clients was […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170147","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170147"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170147\/revisions"}],"predecessor-version":[{"id":170148,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170147\/revisions\/170148"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}