“There’s a lot less concern about the ups and downs of the market right now, it’s really all about the relationship,” said Bortscheller. “They want to call and make sure they’re still on the right track.”
Schwab also asked advisors about their market expectations when the survey was fielded in August and September, ahead of October’s stock market volatility. At that time, most of the respondents, 70 percent, expected the S&P 500 to continue up over the next six months, but simultaneously 71 percent of advisors reported being concerned about the possibility of a downturn, citing factors such as rising tariffs on imported goods, general trade disputes and rising interest rates.
For its study, Schwab fielded an online study conducted by Logica Research involving 783 RIAs who custody with Schwab between Aug. 24 and Sept. 12, 2018.