Most advisors say clients are worried about the recent market volatility, but the advisors are satisfied their clients are protected, according to the Jefferson National Market Correction Study released Monday.
Jefferson National, operating as Nationwide’s advisory solutions business located in Louisville, Ken., found that 83 percent of RIAs and fee-based advisors say their clients are concerned about the recent volatility. At the same time, 87 percent of the 343 advisors included in the survey said they have prepared their clients’ portfolios for a downturn in the market.
The top three solutions used by the advisors are to have clients hold more cash, buy more international stocks and use more liquid alternatives, according to Jefferson National, which provides tax-advantaged investing solution for RIAs and fee-based advisors. In the wake of the downturn, 67 percent of advisors see this as a buying opportunity for their clients.
Advisors say they are focused on the importance of a long-term plan. Forty-five percent say they manage portfolios more actively than passively and an equal amount invests more aggressively than conservatively.