The Advice Threshold Newsweek Online (03/12/01) Vol. 55, No. 3 p.38; Stern, Linda
With no relief in sight for the weakening economy, the demand
for financial planners has never been higher. If there was ever a need
for a financial planner, now is the time. The plunging stock market has
left investors bruised and in search of wise counsel. But some experts
believe the increased interest in financial planners may also be the
result of changing demographics. As investors get older and earn more
money, passing what Forrester Research describes as the "advice
threshold," experts say they become less sure of their portfolios.
Investors are increasingly turning to fee-based advisers, mutual-fund
wrap account programs, and bank trust departments.