Older investors Still Seeking Guidance From Advisors

A survey of investors 50 and over who consult advisors on wealth management shows what’s top of mind.

By Rethinking65

According to a new study, less than 2% of investors are planning to change financial advisors despite their concerns about inflation and the stock market.

The 2022 Retirement Confidence Report from Janus Henderson Investors included that finding, as well as other results:
• 86% of survey respondents are concerned or very concerned about inflation.
• 79% are concerned or very concerned about the stock market.
• 49% have reduced their spending or plan to reduce spending as a result of financial markets and rising inflation.
• 45% are less confident they will have enough money to live comfortably throughout retirement.

Despite their concerns, only 13% have moved money out of stocks or bonds and into cash. The majority of respondents (60%) believe the S&P 500 Index will be higher one year from now, 26% believe the index will be lower, and 14% expect it will be relatively unchanged.

To generate retirement income, respondents said they prefer dividend-paying stocks (65%), annuities (24%), taxable bonds (23%), and tax-free bonds (23%).

Janus Henderson conducted the survey in October 2022. The company distributed it within its Direct Business Channel (DBC) to a randomly selected group of self-directed investors age 50 and older who were the sole or shared financial decision-maker for their households. While these investors established investment accounts themselves, they may consult with an advisor for other aspects of their wealth. The final sample consisted of 1,926 investors who completed the full survey.

Latest news

More Americans Eyeing Post-Retirement Employment

More than half of all Americans — including 64% of Baby Boomers and Gen Xers — are open to work after retiring from an employer and would consider working indefinitely.

Renting More Cost-Effective than Buying in Most Major U.S. Metros

Recent data reveals a shift in the U.S. housing market, with renting now surpassing buying in affordability in all but three of the country's...

W. P. Carey Spins Off Office Assets, Setting Strategy for 2024 Exit

It will spin off a majority of its office assets into a new publicly traded REIT as the office real estate market continues to struggle.

5 Advisors Recognized for Good Works

Five financial advisors were recognized for their outstanding community contributions at the 17th annual Invest in Others Awards Gala.

Judge Rules Muni-Bond Class Action Goes Forward Against 8 Banks

A U.S. federal judge said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond.

High-Profile $2B Advisor Team Joins J.P. Morgan Private Bank

The team, previously affiliated with Citi Private Bank, oversees more than $2 billion in client assets.