Financial Goalbusters Vary
Financial advisors and their clients diverge widely in their perceptions of what is preventing clients from reaching investment goals, according to a survey of advisors last fall by Russell Investments. Advisors report that their clients blame the state of the investing environment and express concerns about sharp swings in the markets and the stumbling pace of the recovery. The advisors themselves see obstacles differently; the biggest problem as they see it is their clients' unwillingness to adequately fund their retirement accounts (although slow economic growth is also high on the advisors' list). Due to their fear and distrust of the market, investors pulled more than $33 billion from U.S. stock mutual funds in the first seven months of 2010, Russell said, citing Investment Company Institute reports.
