Private wealth investors 'should not be put off by confidence dip'

Consumer confidence retreated again in April, but those with private wealth have been urged not to let short-term trends affect their investment plans.

According to the latest Consumer Confidence Index from GfK NOP, sentiment among the UK public fell by one point on the index to -16, with people becoming less optimistic about the prospects for the general economy and their personal finance over the next 12 months.

’We must try to separate events that affect our near-term spending plans from the notable benefits of long-term investing,’ advised David Kuo of The Motley Fool.

He said those investing their private wealth should not be afraid to ’move forward slowly’ when making decisions.

Director of consumer products at retail and GfK NOP Ivan Browne said continued political uncertainty and fears about the stability of the economy have had a negative effect on confidence, which is in turn causing attitudes towards personal finances to change.ADNFCR-2318-ID-19753107-ADNFCR