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IFAs advising investors not to panic

IFAs are advising clients not to panic despite the uncertainty that surrounds the financial world as the New York Stock Exchange remains closed, possibly until Monday.

Firms are expecting a rush of calls as investors&#39 attention turns from the enormity of the event in the US to the safety of their own investments.

IFAs have been advising investors to stay calm and wait for a clear assessment of the market before acting.

Chase de Vere investor services manager Anna Bowes says: “Panic selling is the worst reaction because you are usually selling at the bottom. Investments should be made for the long term and we can&#39t really speculate until US markets open on Monday.”

Bates Investment head of research James Dalby says: “Investors need to ask whether they think equities will outperform cash in the long term. We think they will and so investors have got to hold their nerve. But some investors are bound to be rattled by what has happened.”

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