Ten years on from the financial crisis of 2007 which saw significant changes to a number of high-street banks (not least the locally based Northern Rock), a North East independent financial adviser has reported a 50 per cent increase in some of its clients’ investment portfolios.

In a recent report, Cramlington-based Explore Wealth Management has discovered that its clients who invested in the market in the immediate aftermath of the crash have seen healthy portfolio growth of up to 50 per cent in the last decade.

Caused by a domino effect of banks being reckless with who they loaned money to and a string of irresponsible deals to sell-on and re-finance rapidly accumulating debts, the aftermath of the financial crisis between 2007 and 2008 has been likened in severity to the Great Depression of the 1930s.

Although many people are still feeling the effects of the crisis, with cuts in public sector funding and interest rates on savings accounts still historically low, the FTSE 100 index has recovered sufficiently enough in recent years to see positive growth in the market which is reflected in investors’ portfolios.

Managing director at Explore Wealth Management, Stephen Sumner, said:

“At Explore Wealth Management, we have done our very best to support our clients and protect their investments during these years of uncertainty.

“Many clients who were brave enough to invest in the market just after the crash have seen their portfolios more than double in the last ten years. We have also managed to help some of our clients who were looking to retire around the time of the crash to go ahead with their plans by helping them to recover their pension pots more quickly.

“An example of this was a gentleman client whose pension pot depreciated by over 30 per cent after the crash. By actively managing his account, we not only enabled him to go ahead with his retirement plans, we recovered his pension pot sufficiently so that he could live on the same income he would have received pre-crash.”

Specialising in retirement planning, cashflow forecasting and pension and investment advice, as an independent financial adviser, Explore Wealth Management can make recommendations from across the entire financial market to help clients make the most of their money.

Voted one of the Top 250 IFAs in the UK in 2016 in a survey conducted by VouchedFor, Explore Wealth Management prides itself on its straight-talking, honest approach to financial advice that has helped over 300 people across the North East to plan ahead for their future.

For more information, visit: www.explorewealth.co.uk.