Hertfordshire press release: A new emergency financial advice project has been set up by regulated advisers across the country to help those aged over 50 with concerns around their pension or other personal finance matters during these difficult times.
The ongoing Covid-19 pandemic has led to turbulence in global financial markets and dramatic falls in stock values – the FTSE 100 has fallen around 25% since the beginning of the year – leaving many people worried about their finances and not knowing where to turn.
From investments to pensions, wills, Lasting Powers of Attorney, and other retirement planning matters there are issues that need addressing. More than 50 regulated financial advisers, including St Albans-based James Glynn from Jarrovian Wealth group, have offered to give a free initial telephone conversation, without any strings attached.
James says: “The current crisis is leaving many people worried about their financial wellbeing as well as their health. We wanted to do our bit to help ensure those who need it have access to vital financial advice. Pensions and investments are complex and can bamboozle many people. An initial chat with an experienced financial adviser can help to ease any concerns, and give people a better understanding and, hopefully, the confidence to move forward.“
It is hoped the initial free 30-minute call will help many people to sort out their concerns, without the need to move to regulated advice. For those who do need further advice, normal regulatory rules will apply and advisers will use their discretion on whether to offer ‘pro bono’ advice for the vulnerable and those on low incomes or regulated financial advice for a modest fee. If an adviser cannot help, they will steer callers to the relevant organisation/agency who can. Visit emergencyfinancialadvice.org to find out more. This initiative was launched by William Burrows of financial adviser Better Retirement who believes that everybody who is affected by the current crisis should have access to financial advice if they need it.
William Burrows commented: “We wanted to find a way to reach out and help everybody who has questions or concerns about their pension or their financial wellbeing at a time of national emergency, and I have been taken aback by the support from the adviser community.”