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

Commonwealth Attracts Another Holistic Firm

An advisory firm with nearly $384 million in assets under management has left Lincoln Investment to join Commonwealth Financial Network.

Intermediaries Seek More Female Financial Professionals

More than 4 in 10 have or plan to establish programs to support and recruit more women, Limra research shows.

The SEC’s Problem with Crypto ETFs

Asset managers are lining up to list a second wave of crypto ETFs, but SEC Chair Gary Gensler remains a crypto critic.

More Retirees are ‘Unretiring,’ Survey Reveals

Advisors say near-retirees and retirees are much less prepared for retirement than they think they are, according to Allspring.

Advisors Dabbling in DC Market Seek Greater Support: Cerulli

Providing them with tools, education and guidance would help them grow their retirement-plan businesses, says Cerulli Associates.

Executives Traveling on Corporate Jets Face IRS Scrutiny

Do you have executive clients who might be using a corporate jet for personal use? Tell them the IRS has announced a crackdown.