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Laxman Pai, Opalesque Asia: Investors have moved on to considering future investment alternatives following the initial shock of seeing their investment portfolios decline sharply over market concerns about the coronavirus pandemic, said a study by Spectrem Group.
Investors are also evaluating the performance of their financial advisors during this crisis, said the report titled "Corona Crash: What Advisors Should Be Saying to Investors Now".
While 15 percent of investors have sold equities in recent weeks, a greater percentage (21 percent) have purchased equities to try to take advantage of lower stock prices, assuming there will be a rebound in the coming months said.
Wealthier investors are more likely to have taken both of those approaches in April, said the study which is a three-month examination of how the stock market crash triggered by the coronavirus outbreak has impacted wealthy investors.
Just over half of investors believe their advisor has been very proactive in handling their investments during the coronavirus crisis, but 10 percent believe they would be better served with a different primary financial advisor. That includes 20 percent of those investors with a net worth between $15 million and $25 million.
An overwhelming majority of investors (74 percent) expect the American economy to go into recession.
"Investors have moved past the initial shock of the recent market declines and are now ready to plan for the future,'' said Spectrem pr...................... To view our full article Click here
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