With the constant market volatility in today’s economy, investors rely on their financial planners more than ever. They still need plenty of advisement on where it is safe to invest their money and how to protect the assets they have left.
The Certified Financial Planner Board of Standards conducted a survey and stated,
“28% (of people) said that they used a financial planner in the recent survey compared with 29% two years ago. Nevertheless, 43% said that financial planners are more important since the financial crisis started two years ago.”
Now that the SEC is aggressively cracking down on how advisors conduct business, people seem to be less reluctant to look towards financial planners for help. Financial advisors are not just for the wealthy either. According to Two Years After the Crisis, Americans Haven’t Changed Use of the Financial Planners, Donna Mitchell states,
“…Americans probably don’t know where to find an advisor that they can tru st. As financial products available to Americans become more diverse and complex, however, it will become more necessary for investors to entrust their financial futures to a financial planner.”
Many investors realize the importance of having a financial planner in this economy. Especially, if they are going through any major life changes such as having children or retirement. Donna Mitchell states,
“Among those Americans who began using a financial planner since the start of the financial crisis, 31% said they had done so because difficult times created more need for financial guidance. 44% said they leaned on financial planners for reasons other than the crisis (such as a major life change).”
Investors have hopes that the economy will improve in the upcoming months, but are not likely to give up their financial planners any time soon.