FORT ST. JOHN, B.C. – In light of the conflict in Ukraine, North Peace Savings and Credit Union recommends residents connect with a financial advisor to help navigate potential volatility in financial markets.
Chief Operating Officer at NPSCU, Colin Nicol, says the war in Ukraine is a global event that is causing significant volatility in financial markets, with major North American indexes dipping during the crisis.
Nicol notes that investors have different relationships with their investments and may react differently.
“Some may see this as an opportunity to buy into lower prices, while some may be fearful and want to remove themselves from the markets altogether. Our advice at NPSCU is to speak with a professional financial advisor about your investment portfolio and how it’s been impacted during this time,” Nicol said.
Nicol says that working with a financial advisor can allow investors to navigate any market volatility while ensuring that their portfolio performs closely to their risk profile and appetite.
He says that the Russia/Ukraine conflict is one of many recent pressures on the markets and is sure there will be many more in the future.
“It is important through any of these times that investors continue to communicate with their investment advisor, keep abreast of the news, and seek counsel when either fearful of the markets or if they see an investment opportunity for their investment portfolio,” Nicol said.
“If anyone in our communities needs support through these times, please contact one of our branches and speak with our wealth advisor with North Peace Financial Planning Services,” Nicol added.
“We are more than willing to chat through any investment situation.”
Many Canadians have spoken out against Russia’s unprovoked attacks on Ukraine, including local MP Bob Zimmer.
Fort St. John councillors gathered outside city hall on Tuesday to raise the Ukrainian flag in a display of solidarity.
