BREAKING
NEWS
Financial
Planning
Educator
urges investors, advisors
to take active role during financial crisis
Monday, October 20, 2008
By IE
Staff
It’s
not enough for financial commentators to say “don’t
panic” in the
current financial crisis, says Certified Financial Planner and founder
of MoneyMinding Inc., Tracy Piercy. The Victoria, B.C.-based financial
educator is offering alternative advice, recommending a much more
active role for investors and their advisors.
“People are
looking for practical, timely answers that will put them back in the
driver’s seat, even if the road is rocky in today’s
markets,” says
Piercy. “But the content of most personal finance articles
offers
nothing concrete. They might as well tell the investors reading it that
they just need to give all their trust to the professionals who have
crystal balls and will make sure they live happily ever
after.”
Piercy
continues, “If you rely on someone else’s
professional help
to guide
your financial affairs, you still need to have an active role in the
outcome. In medicine, you see a doctor, but you have to take the
medicine and live a healthy lifestyle; same thing with money.”
Piercy
recommends that financial professionals make client lifestyle goals and
monthly income the focus of any conversation involving whether or not
to stay invested.
Piercy’s company, MoneyMinding, works with
financial professionals and their clients to help demystify personal
finance
concepts and the financial markets, so individuals can gain
control of their money.
