Insights | 11.18.20
Investors With Advisors More Confident in Investment Strategy
Thirty-five percent of investors who work with a financial advisor say they are very confident in their investment strategy, according to a new survey from Franklin Templeton. Only 15 percent of investors without an advisor express similar confidence. The findings come from an ongoing Franklin Templeton–Gallup study of Americans’ propensity and readiness to resume pre-pandemic economic behaviors, and were based on surveys completed by 5,002 U.S. adults between Oct. 1 and Oct. 9. The survey found that 48 percent of investors said they were working with a financial advisor. Those who were not were twice as likely as those who were to say they had little or no confidence in their investment strategy. Franklin Templeton noted that investors with higher incomes are likelier to be confident in their investment strategy, but that the effect of a financial advisor, and the perception of greater economic confidence, was consistent across income groups.
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