Independent financial advisory organization, deVere Group, announced on Tuesday it is now offering free financial advice on a remote basis during the coronavirus outbreak. CEO and Founder of the deVere Group, Nigel Green stated that he and his team are launching Contactless Advice for four reasons:
- Social distancing is claimed to be the “only” tool available to fight the spread of the virus
- The economic landscape is notably shifting and is facing a short and deep recession
- There is a prediction of a negative interest rate era, which will affect investment decisions among other financial matters
- The ongoing volatility will present challenges that’ll need attention, including possibilities and ways to “shore-up” retirement income
Green further stated:
“Against this backdrop, in order to create, build-up and safeguard their wealth as the world adapts to a new era, investors should be revising their portfolios to ensure they mitigate risk and take advantage of the opportunities. Using a combination of existing technology, and our industry-leading applications, we’re able to offer unparalleled financial advice from the comfort of your home. In these trying times we must all play our part, by removing physical interactions from our services, you can have peace of mind that your health, and your wealth will remain secure.”
Green then noted that the free Contactless Advice service will include:
- A wealth scan, in which the consumer and their professional adviser will discuss financial objectives and answer any questions
- A fact find in which advisers will discuss the current financial situation
- A customized report which advisers will analyze and discuss with the consumer and outline their recommended next steps if any are needed
Green added:
“The world is changing fast and a short coronavirus-triggered global recession and the subsequent recovery will have lasting and far-reaching consequences for people’s wealth. Experts agree that very seldom is it a good idea to take a DIY-approach to something so fundamental to your life as your finances. With the financial and economic landscape shifting and evolving so rapidly, this, I suggest, is certainly not the time. With this free service that offers professional, independent advice, there’s no need to do that.”