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Business booms for financial advisor
While many people are rapidly cutting back spending in the economic downturn, it appears one area where money is still being spent in on financial advice.
A financial advisor has spoken of his surprise in finding his business has grown during what has been one of the worst financial quarters for many years.
Roger Simpson, who founded Chalfont Investments in Gerrards Cross 35 years ago, puts this down to people wanting to learn more about the financial world.
He said: "I have been amazed at how well our clients have taken this credit crunch. Generally, they have reacted extremely well and I suspect that they are now much better educated in financial matters than they were before."
He added: "This has been our best quarter of the year so far so I am pleasantly surprised.
"I think that it shows that now, more than ever, people want financial advice. I think being a financial advisor is a bit like being a dentist. People like us to be there when they need help and at the moment, people are very worried about their money and investments."
Mr Simpson, who is the managing director of the company, says that he has not known economic problems like the ones the country is currently facing in all of his career.
He added: "I don't think we will see an improvement until the end of 2009 or the beginning of 2010. The first signs of these problems came in about July 2007 but it was impossible to say then just how bad the situation would get. At the time, we advised our clients who had invested in commercial property to get their money out and very soon after that the problems began."
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