News | 01.27.21
Thanks, Robinhood, but These Traders Now Want Professional Help
Lockdowns caused by the coronavirus pandemic drove an increase in retail trading. However, market fluctuations required amateur traders to constantly watch their stocks. Now, many of these investors are realizing they may need professional guidance. Experts say investors are learning that there are many issues to address when working to build wealth. Aspiriant LLC, a wealth management firm, says it saw demand for its services increase after stocks fell early last year. More clients sought out the company later in 2020 as well. Eddie Welch, owner of an advisory firm, says apps like Robinhood made it easy to trade stocks, but people will still need help creating a financial plan. Investors who have an advisor also say it has helped them. A survey by Franklin Templeton and Gallup found that stock investors with a financial advisor were more than twice as likely to say they are confident in their investment plan compared to individuals who invest on their own.
Read the full article on Bloomberg Wealth