Monday, 10 October 2022 04:27

Clients bending the ears of their advisors

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Is this tune, some might ask, on auto pilot?

Market conditions, particularly given the atypical transition from one week, month and quarter into a new period on each scale, are rife with uncertainty, according to dailyfx.com.

Contributing to the volatility, of course, is a trio of factors: the perpetually changing backdrop surrounding investor sentiment and economic forecast, not to mention where things are down the road.

Meantime, probably not surprisingly, fanned by burgeoning inflation and interest rates, which are cultivating qualms about a potential recession, clients are airing out their trepidations with their financial advisors, according to cnbc.com.

As for further hikes? Buckle up, especially since, in the name of warding off inflation, the Fed ratcheted interest rates by 0.75% basis points in September – for the third straight time, to boot.

The predominant concern for clients given the economic environment: “What the labor environment is going to look like and what their risk is as far as unemployment goes,” said certified financial planner Douglas Boneparth, president of Bone Fide Wealth in New York. Their clients are largely between ages 28 and 42.

“At this point it’s speculation,” Boneparth said. “It’s hard to point to data that says we need to be concerned right now.”

 

 

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