MEDIA ROOM
Media Release FOR IMMEDIATE RELEASE |
August 9, 2011 |
Advocis: Concerned about dire financial news headlines?
Stay calm. Talk to your financial advisor or planner.
Toronto – In light of the troubling economic news of late, Advocis, The Financial Advisors Association of Canada, is recommending that anyone concerned about their financial health and how recent developments will impact their long-term plans speak to their financial advisor or planner.
"A financial plan is about the long term," said Robert McCullagh, chair of Advocis' board of directors. "However, this is sometimes difficult to keep in mind in this age of one-click news, where everyone is bombarded with negative predictions and warnings of impending doom. It's enough to shake anyone's confidence. If someone feels compelled to take action, they'd be well advised to take a deep breath and consult with their financial advisor. Financial advisors and planners have an important, 'big picture' perspective that really must be considered."
A good financial strategy, developed by an advisor or planner who knows his client's needs and goals, will weather even the most severe market turbulence. Broad media generalizations, apocalyptic headlines and financial analyst speculations should not drive your investment decisions. Consumers should be contacting their financial advisor or planner, to discuss market developments and its impact on their long-term financial goals.
"It's important not to panic," continued Mr. McCullagh. "One must focus on the long-term horizon and share one's concerns with one's financial advisor or planner."
Advocis, The Financial Advisors Association of Canada, is the oldest and largest voluntary membership association of financial advisors and planners in Canada. With more than 11,000 advisors and planners in 41 Chapters across Canada, Advocis members provide financial advice, product service and employee benefit planning to millions of Canadians in a number of areas including estate and retirement planning, wealth management, risk management and tax planning. For more information about Advocis, visit www.advocis.ca.
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For more information, please contact Ann Walker at 416-342-9838.