Investors Ignore Investments?

A recent Charles Schwab survey found that less than a third (31%) of respondents claimed they speak with their broker or financial adviser on a regular basis.

The survey also found that just four out of 10 mutual fund investors surveyed (39%) have made changes to their portfolio allocations since the stock market began to decline. Less than half (45%) indicated they have become more knowledgeable about their investments since the financial crisis began roughly two years ago, according to a Schwab press release.

In addition, 36% of respondents indicated they do not know which mutual funds they own.

“When market volatility occurs, it presents a great opportunity for individuals to increase their levels of engagement in how they manage their investments,” said Peter Crawford, senior vice president for investment management service at Charles Schwab.

The Charles Schwab Mutual Fund Survey is based on responses of 602 mutual fund owners age 18 and older, and was conducted by Kelton Research in April.