By Al Emid via Iris.xyz

The current volatility means that some individuals need more than bottom-line financial advice. And some advisors can help with the extra needs.

Recent months have been especially volatile in the stock markets. In previous editions, we have explored the reasons for the roller coaster rides: interest rate hikes with more to follow, fears of a slowing economy, disillusionment with the FAANG stocks (Facebook, Apple, Amazon, Netflix and Alphabet) and likely more to come, trade disputes, stretched valuations, geopolitical tensions, and other triggers. With the possible exception of trade tensions between the United States and China which may be resolved eventually, I have no doubt that the other causes can be expected to continue until well into next year, if not longer.

That being the case, we need to examine our financial situations and make some judgments. You might consult an accredited financial advisor and come to some conclusions about whether or not changes are necessary, or whether to stay the course within a well-crafted financial plan. A good advisor can suggest the degree to which a portfolio needs changers or can be left intact.

That’s the easy and obvious part.

In a more complex dimension, the volatility has pointed up parts of a professional financial advisor’s role that go well beyond handling financial transactions and providing investment advice. In some cases, the advisor will become an emotional guide as well as financial expert.

The current market offers advisors an opportunity to review clients’ emotional state as well as their financial health, explains Jay Nash, Senior Vice-President, Portfolio Manager and Investment Advisor at the London branch of National Bank. Nash is a 21-year veteran of the financial sector.

Click here to read more on Iris.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.