Managing Savings for the Rest of 2020


It wouldn’t be an exaggeration to say that the knock-on effect of the Covid-19 crisis came as a surprise to all of us. The last few months have seen governments, businesses, and individuals make really difficult decisions to help themselves overcome this outbreak. With all the necessary precautions being taken and work continuing on the way to a vaccine and treatment, we will hopefully be able to get back to normal soon.

Financial advisers are likely to find themselves in a unique position where their client base has done very little with their savings over the last couple of weeks and months. When we reach the other side of the pandemic and confidence returns to world markets, there will be a great opportunity to make smart investments as certain businesses and services see interest levels return back to where they were at the end of last year.

As a financial adviser, it is important that you are ready to make the right decisions for your clients, so here are some things to mull over.

Savers Confidence

For your client base, what you are likely to find across the board is that outgoings have been reduced over the lockdown period. With no opportunities for holidays, meals out, socializing, etc. people have been understandably cautious with their money in the recent past. This might mean at the other end of the crisis; people will have more money to dedicate to their financial priorities. This is something to remember when engaging with your clients.

Where the Opportunities Lie

An important part of any investment strategy is knowing where to look for markets that will gain when the Covid-19 crisis eventually passes. Ensure you take the time to research the different ways to invest and think about how this can best benefit your clients. You are there to advise on where the best opportunities are, and any research you do just now will be beneficial down the road as the economy gets a chance to recover.

Good Money Habits

Taking the recent news out of the equation for a moment, it’s also a key consideration to remember that individuals will have their own priorities and saving plans in places, regardless of what has been going on. You will have a mixture of people saving for retirement, or a one of big expense, etc. The news is enough to make anyone careful with their money, and we’re likely to see an increase in interest around good money habits to have with your personal finances in the near future.

Growing Relationships in the Future

The last few months have been fairly unprecedented, but that’s not to say that 2020 can’t be a successful year of long-term growth and better relationships. Financial advisers are the very people who are in demand in difficult times and in periods where there is a great opportunity for growth. Being there at the right time and with an existing relationship will ensure that your clients will trust you to get on with the job as we move into the latter half of 2020.

Financial advisers are in a position where their expertise and ability to see the devil in the detail puts them in a position to grow some great relationships as the current challenge runs its course. The decisions you make and the expertise you can demonstrate in these times will become indispensable to the people that make up your client roster. In following some of the advice we have outlined above, you can grow in a proactive way in circumstances that might otherwise appear challenging in a different context.  

Similar Articles

How to Futureproof Your Finances

The recent Covid-19 outbreak has thrown a lot of different things into perspective for people across the country. With such uncertain times ahead, it is important that we take some time to look at our overall financial health and ensure we are prepared for anything that might unexpectedly be around the corner

How To Start Financing Your Next Vacation

Vacations provide a serene environment where you can relax and re-energize. You may be thinking of going on a vacation but do not know where to start. To avoid being stranded during the holiday, you need enough money.

Top 3 Secure Ways to Transfer Money Internationally

International money transfer is not as simple as it might seem. Service fees, exchange rates, the time required for transferring the money, device & app security (if the funds moved through an online system), and many such factors are crucial in the fund transfer process. 

Financial planning and management

Financial Management is a service which is related to the domain of finance. It is an important branch in the current business world and specifically, the field of business administration. Almost all organizations in this business-oriented world have at least one financial manager. It is a service that helps you save thousands, if not hundreds of thousands of dollars.

Money Management Tips You Need to Bring into 2019

Managing your money can be a stressful thing and it's important to know how to budget. Make 2019 your best financial year yet with these money management tips.


New data revealed by UK finance giants, Wellesley, have revealed staggering statistics indicating that over 33% of UK citizens do not currently save into a pension scheme.

How To Retire Early And Live Your Life To The Fullest

We all want to follow our passion and spend time doing the things that we love. However, unless you are one of the chosen few, you are constrained by having to spend your time and energy working on stuff that is necessary to put food on the table. 


Nobody can predict when an emergency will happen. It could be anything from your air conditioning unit at your house going out to breaking your foot and needing surgery. No matter what happens, it will cost you money to fix. An emergency fund is an amount of money set aside to pay for any situations that happens in life

Try These 6 Ways to Save Your Unnecessary Expenses

We all are aware of the fact that, nowadays, one of the crucial issues is how we can save money in all the activities we perform – hangouts, dinners, movies, etc. The main thing is that, it’s now a need of the hour and, for most of us, it’s become an absolute necessity.