05.30.23
Investors Have Too Much Information, Not Enough Knowledge: Morningstar
by: Michael S. Fischer
Investors now have access to data and research that used to be available only to financial professionals and are bombarded with advice from both traditional sources and social media, according to an analysis of a new survey by Morningstar. Yet they are uncertain about what information can be trusted, what is valuable and what is simply junk. Additionally, they can choose from up to 750,000 different investment options, and even more if they’re accredited. Advisors have opportunities to help sort through the clutter, but the Morningstar survey found that advisors have a public relations problem. When respondents were asked to rate how valuable different information sources are to them, they assigned similar value to financial advisors as to trading and investment platforms and to financial news sites. However, advisors’ value increases significantly in investors’ eyes once a relationship begins.
Read the full article on Think Advisor