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Covid-19 has presented the financial industry with many challenges in recent months and will continue to for many months to come. Despite being in largely unchartered waters, few industries are as well equipped to deal with the current situation as Wealth Management. The nature of our role means we excel at problem solving for our clients.

Having time to think about the future

The pandemic the world has been facing for the last few months has meant that thousands of people have been off work and have been confined to their homes. In many cases this has given them time to think about their future, including their finances. What would happen to their family if they were to become a victim of Covid-19? With financial markets so volatile, is there better investments they could be making? Should they be planning for their retirement? These and many other questions are where our Wealth Management Consultants can help you to reach the best conclusions for your personal circumstances.

It’s not all doom and gloom

Our sector, business, customers, and the products and markets we use and operate in will survive and ultimately, they’ll all become stronger for it. Firms will have to adapt to the changing environment and there is a possibility of new safeguards and regulations, as happened after the 2008 financial crisis. As with all change, it will also bring opportunity. Even in the throes of an unprecedented health and humanitarian crisis we are witnessing first-hand the best of humanity. The support, compassion, and understanding are beyond anything in our lifetime.

As Europe staggers back to its feet there will be 3 main stages ahead. First, the markets and economies around the world will stabilise. Secondly, the new values of markets and shifts that have happened during the crisis (including new ways of working) will be fully integrated as the populace reconfigures to the new reality. Lastly, we’ll start the slow process of recovery. During all of these stages we will engage with existing and new clients to provide as much financial advice, guidance and planning as needed.

Leave the hard work to our Wealth Management Consultants

Our Wealth Management Consultants are not only qualified to provide the best advice needed, but they have many years’ experience in ensuring that clients are not lost in the maze of products available. Simple and easily understood investments are often the best way forward.

However, when a layperson looks at pensions and investments they can soon give up on the idea because everything appears so complicated. We will explain all the ins and outs of the advice we are giving so that a clear picture is put forward of the proposals suggested, including completely transparent fees.

Have a chat with our Wealth Management Consultants and then let us do the hard work of putting together the best plan for your future. You can relax and let us scour the marketplace as we are more likely to understand what we are looking for and to find the best products to achieve your goals.

The importance of financial planning post Covid-19

Apart from all the human suffering caused by Covid-19, there is likely to be financial problems for a long time in the future. Economies will recover but it will take time and a lot of hard work by the various governments to make it happen. They will have to plan for the future to ensure that their country survives financially and regains a stable footing. The same applies to companies and individuals.

Of course, there is no comparison between the economy of a country and of a company or person, but still, sound financial planning is the way forward in all cases. If planning for retirement is needed, estate planning, or investments of any type for the future, sorting it all post Covid-19 will be a very wise move.

In many scenarios, delaying investments or starting a pension plan can be very costly in the long run, and this is no different in the current situation. In fact, it is even more important as what this pandemic has shown everyone is that none of us know what the future holds.

Regular reviews with our Wealth Management Consultants

Because of the changing markets and what is happening around the world, it is vital that your investments, no matter what they are, are subject to regular review. Better products can appear on the market or a bigger range of products become available. Also, your financial situation can change, or your ideas for the future may alter. The possibility of any of these things occurring mean it is in your own interest to use Wealth Management Consultants that do not just help with your initial investments and then leave it all up to you.

Ongoing support is needed, and this comes in the form of regular reviews to ensure that there is nothing that would be better changed.

We’re still here for you

At a time when everyone seems to be working remotely and companies are speeding up their digital transformation, it’s reassuring to know we are as committed to building close and meaningful working relationships with our clients as ever. Whether it’s just running some ideas by us or performing regular reviews to identify areas of growth or underperformance, we’re still aware that wealth management is relationship driven and trust is a must. Government guidelines will always be followed, but we will do our best within any restrictions to continue to provide the highest possible levels of service we can.

At Mason Wealth Management, we believe that the relationships we have with our clients are vital to our continued success. You can rest assured that we are here for you even in the current situation, and that you can continue to rely on us to provide the best service possible.