Be Cautious In Making Financial Decisions In Times Of Uncertainty
Chief Investment Officer, Stanbic Investment Management Services (SIMS), George Allotey, has urged Ghanaians to be cautious in taking financial decisions in times of uncertainties because of future repercussions. George Allotey said this at Webinar organized by Enterprise Trustees on the theme “State of the Financial Market and the Impact on Pension Funds”.
Speaking on the fate of pension funds George Allotey said, “Although there are uncertainties there are also opportunities. As we say, we buy when it is low and sell when it is high. If you already have an investment and you are wondering whether to continue or not, I believe you should do so if you have the appetite. Rather than take a rush decision speak to an investment advisor. Individuals must have conversations with licensed financial advisors and tell them about their financial goals.”
He added that “Your advisor will then be able to design an investment plan tailored specifically to your needs that will ultimately help you reach your goal. Investment is not one size fits all, needs vary. Never invest in what you do not understand. Make sure you ask all the necessary questions and make sure you understand your investment plan and know what is being done with your money.”
Mr. Allotey also took the opportunity to alleviate fears that have risen amongst Ghanaians in investments and trust funds and advised that it is necessary to consult a licensed financial advisor.
He said, “Do not be afraid of investing. Simply contact a licensed advisor and allow them to find the right investment package that will fit you. At SIMS, we have licensed investment advisors on our team who are ready and willing to help you with all your investment needs. I encourage you all to stop by and allow them to take you through your investment journey and help you reach your investment goals.”
The Webinar comes on the back of recent publication agitations about the inclusion of pensioners’ funds in government’s Domestic Debt Exchange Programme (DDEP).
SIMS is an asset management and advisory firm licensed by the Securities and Exchange Commission and registered with the National Pensions Regulatory Authority as a pension fund manager. SIMS’s focus is to help clients plan for their future and provide insights and unparalleled expert advice that enables them to achieve their lifetime financial goals. With over 15 years of investment management and advisory services experience in the Ghanaian financial market, SIMS is one of Ghana’s largest fund managers with world-class money management expertise.