Amid pandemic market volatility, what are financial advisors doing with their clients' money? 41% of advisers say they've been increasing their clients' equity exposure compared to the 31% who said they've been reducing it.
A lot is being said about retail investors jumping into the stock market these days, but they might just be following the lead of financial advisers.
Forty-one percent of advisers said they’ve been increasing their clients’ equity exposure, and yet 31% said they’ve been reducing their clients exposure, according to a survey asking 870 advisers how they’ve been helping clients in the face of the coronavirus outbreak. Investment allocation was the most common change but it wasn’t the only one. For example, 59% said they discussed their client’s spending decisions and 43% said they changed tax strategies, given the unusual context.
But the postponed deadline also presented an opportunity for financially secure households to put extra money into an individual retirement account and shrink their 2019 tax bill.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wirecard collapse puts German watchdog in EU crosshairsThe European Commission in a rare move has asked its markets watchdog to investigate German financial regulator BaFin over the collapse of payments company Wirecard .
Read more »
This financial advisor opened 3 credit cards to pay for his wedding—why he doesn't recommend that strategy for everyoneCNBC Select spoke with a certified financial planner about how he took advantage of credit card welcome bonuses and why he says not everyone should follow suit.
Read more »
Latest News - MarketWatchGet the latest stock market, financial and business news from MarketWatch.
Read more »
Stock market live updates: Stocks lower, travel stocks sink, KB Home drops 11%As new COVID-19 cases continue to spike and the market struggles, MadMoneyOnCNBC's JimCramer has some advice to dish out.
Read more »
How a $60 million painting may mark the biggest test for the art market during coronavirus crisisMonday's auction marks the first real test of the global art market since the coronavirus pandemic and is a bold experiment in bidding.
Read more »
TikTok Pitches Hard to Brands, YouTube Focuses on TV ScreensBoth TikTok and YouTube made their virtual pitches to advertisers at the annual NewFronts marketing conference.
Read more »