Whereas ETFs topped the record, the share of advisors favoring them dipped lower than a proportion level from 2023. Planners edged up their use of particular person shares and bonds.
“On the whole, funding professionals really feel extra bullish in regards to the economic system within the close to time period than they did final 12 months, whereas their view will get barely darker looking over the following two to 5 years. Their purchasers are involved about rates of interest, inflation, and basic volatility biting into their portfolios,” the report mentioned.
The survey requested monetary planners which funding autos they use or suggest for purchasers. The highest 10 merchandise had been:
- ETFs — 89.42%
- Money and equivalents — 81.25%
- Mutual funds (non-wrap) — 68.27%
- Particular person shares — 53.37%
- Particular person bonds — 50%
- Individually managed accounts — 36.06%
- ESG funds — 34.62%
- Variable annuities — 30.77%
- Fastened annuities — 29.81%
- Mutual fund wrap packages — 29.81%
The survey additionally discovered that life insurance coverage stays a elementary part of purchasers’ monetary plans, with over 1 / 4 of respondents reporting they obtained shopper inquiries about premium prices and confusion over product design or advantages.
Time period life insurance coverage emerged as probably the most used product (74%), in accordance with the survey, which additionally discovered a robust demand for long-term care advantages. Over 40% of execs use or suggest linked-benefit LTC insurance coverage for his or her purchasers.
Whereas most professionals are assured of their method to utilizing or recommending life insurance coverage merchandise, some advisors reported challenges in educating purchasers about product options and figuring out appropriate protection.
Picture: Adobe Inventory