In fact, according to the 4th Annual National Financial Broker and Advisor Sentiment Index, the vast majority (92%) of brokers report spending an average of 36% more time giving investment advice to their clients compared with a year ago. As a result, nearly half (43%) of those clients took action in their portfolios, according to the survey by National Financial, a Fidelity Investments company.
When looking at clients of brokers who took action in their investment portfolios over the past 12 months, the National Financial study found that more than one-in-five (21%) moved at least some of their assets into safer investments, while seven percent moved assets into more aggressive investments and 14% simply increased their overall asset levels.
Looking ahead, nine in 10 believe the market (as measured by the S&P 500) will be flat to positive in 2009, with three-quarters seeing the market increasing by an average of 15%.
The National Financial Broker and Advisor Sentiment Index is an analytical measurement of U.S. brokers’ and advisers’ satisfaction with their profession and their current broker/dealer. It combines satisfaction with the levels of support brokers and advisers feel they get from their firm in various areas, along with brokers and advisers’ satisfaction with their work-life balance in terms of having the time and ability to accomplish their personal, financial, relationship, and work goals. Data for the Index comes from a National Financial study of more than 1,200 U.S. investment professionals.
The National Financial study was conducted by online interviews between October 3 and November 7, 2008, by Sancore LLC. The respondents came from a mix of independent, wirehouse, insurance, regional, bank, and RIA firms, weighted to accurately reflect the industry composition.