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Majority of RIA Clients Not Cashing out of Investments March 3, 2009 (SmartPros) A new survey of independent registered investment advisors (RIAs) shows a majority (93 percent) of RIAs say their clients are not cashing out their investments. The few whose clients are cashing out cited concern about market volatility. When asked what they are doing to address client concerns about current market conditions, nearly half (41 percent) of independent RIAs say they have increased client contact. At the same time 36 percent of RIAs surveyed are reassuring their clients and recommending clients stay the course of their current financial plan.
“Advisors we talk to say they are doubling and even tripling their client communications to educate and help ease apprehension about the market,” said Brian Stimpfl, managing director of advisor advocacy and industry affairs, TD AMERITRADE Institutional. “The survey shows a majority of advisors remain steadfast and continue to follow their client’s investment plan, even in the midst of unprecedented market volatility.”
When it comes to client portfolios, RIAs are sticking with stocks. A large portion of respondents say they have made no changes (43 percent) to the amount of their clients’ assets allocated to stocks. Thirty-one percent have even put more money into the stock market. Only 14 percent have taken money out, and just three percent have removed all or most of their clients assets from the stock market.
Other key findings:
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