FINANCIAL advisers are urging calm in the face of the global economic crisis.
Billingham-based Carterbar has spent the past two weeks contacting clients to urge calm.
Carterbar, which is based on the Belasis Business Park in Billingham, says history suggests that the market will recover and that clients would be best advised to avoid panic.
The company began contacting clients after the global crisis caused by factors including the problems in the Eurozone and the protracted negotiations over the US debt package followed by the country’s loss of its cherished Triple A rating.
The events led to significant falls on the Stock Market, but Carterbar managing director Arthur Dornan said: “We have been contacting clients to advise them to keep calm. Yes, it is a worrying time but the best thing they can do is to ensure that their money is invested appropriately rather than panicking and withdrawing money on the back of volatility in the markets.”
Operations director Suzanne Cox said investing on the markets was inevitably unpredictable, but investors would win out in the long run as long as they did not over-react to short term blips.
She added: “You can’t time the market, it’s about the length of time you spend in the market. Taking a mid to long term view of the markets is the way to approach events like this. If you look at the figures, investments do make money over longer periods. That has been the message to clients we have contacted, that it makes sense to keep investing.”
Carterbar’s services include advice on investments, pensions, mortgages, life assurance, income protection and medical cover.