We are seeing a huge increase in clients who have never strayed from deposits previously, looking for an alternative. This is largely due to the little to no return being offered by banks on savings accounts.
We have been discussing alternatives with our clients for the past few years. However, it is only within the past few months that we have noticed people are fed up with the interest on offer from banks. Now they are looking for an alternative home for their savings.
People do not want to take risks with their hard earned savings, which is understandable. We are looking at every client’s individual circumstances in order to best suit their financial goals and objectives.
What we are mostly noticing, is that people are willing to take a small risk, with a smaller portion of their savings in order to make some kind of return on their capital. We have products with a partial capital guarantee available. Compared to 100% guaranteed deposits offering no return, we may be able to offer you products with 85-90% capital protection with the potential for greater returns.
Of course, we would never recommend putting all of your savings into a product like this. You would need an emergency fund available to you in case of a financial emergency. Ideally, this would be 3-4 months of your salary. With these type of investments you should be aiming to leave them invested for a minimum of 5-7 years. They can be accessed earlier than this, but your returns would suffer.
You have to take into account your entire financial situation before deciding on a product suitable for you. We would be delighted to look at your circumstances and recommend the most suitable product for your financial needs and objectives. Book an appointment with us and we will help you on your way to better returns.