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Greek crisis causes surge in investors seeking professional advice

By International Adviser, 30 Jun 15

The number of investors looking for help from wealth management firms has soared as the situation in Greece sparks greater market volatility.

The number of investors looking for help from wealth management firms has soared as the situation in Greece sparks greater market volatility.

Findawealthmanager.com, a website which matches affluent individuals with wealth managers, has seen a 75% increase in the number of investors looking for professional advice on investments since the escalation of the Greek crisis earlier this month.

“Many DIY investors have enjoyed reasonable investment performance over the past few years as equity markets have risen on the back of economic stimulus,” said Lee Goggin, co-founder of the wealth management ‘dating’ website. “However, recent turmoil in Greece and what it means for European economic progress has unnerved many.”

“Affluent individuals are clearly nervous and looking for security for their assets,” he said. “This means more are seeking professional advice amid markets that are proving to be increasingly volatile and difficult to forecast.”

More anxiety to come

According to findawealthmanager.com, the number of users on the site who said they were worried about their investments more than doubled in June compared to May.

“Greece accounts for 2% of the might of the European economy but is contributing the majority of fear and unease for those with exposure to Europe,” Goggin added.

He said the Greek referendum on 5 July means there is more anxiety to come for investors as decisions about austerity and a possible exit from the euro are to be made by the people of Greece.

In April, the findawealthmanager.com announced it had secured funding to build up its business in Asia. The online service launched in Singapore last week.

 

Tags: DIY investors | Greece | High Net Worth | Wealth Management

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.