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Majority of Investors Nearing Retirement Can Still Afford To Retire on Time


New Research from Wealthramp Also Reveals Americans Are Asking for Active Investing Strategies; Nearly Two-Thirds of Wealthramp Advisors Say Approximately A Quarter of Clients Are Looking to Invest New Money into the Market This Quarter

Eight out of 10 advisors (83%) within the Wealthramp network report that more than 75% of their clients can still afford to retire on time despite the economic turmoil caused by Covid-19, according to new research by the online financial advisor referral service. Wealthramp matches consumers with expertly vetted fiduciary advisors based on their investing priorities and is comprised of independent, fee-only financial advisors who work solely in the best interests of clients.

Findings from the inaugural survey, which polled more than 100 fee-only fiduciary advisors within the Wealthramp network, suggest the impact holistic financial planning has on fortifying retirement savings and preserving capital for active investing. Additional key findings include:

  • Nearly two-thirds of advisors (63%) say approximately a quarter of their clients are looking to invest new money into the market right now. Moreover, nearly one in five Wealthramp advisors (17%) say that 25% to less than 50% are interested in these tactical strategies.
  • While the overwhelming majority of advisors within the Wealthramp network report their clients are able to retire on time, if clients do need to adjust their timeframes, 63% of advisors are recommending they extend it only by 1-2 years.
  • Nearly half of advisors (47%) say their clients are most focused on rebalancing and making adjustments to their investment portfolios, followed by a quarter of advisors (23%) who are working with clients to ensure they have enough cash cushion throughout this crisis, and just under 10% who are most focused on harvesting tax losses.
  • Having enough liquid assets is a particular concern of younger clients who receive a large portion of their income through stock awards. One-third of advisors say these clients are worried about how Covid-19 is affecting the valuation of their companies and are worried about their lack of knowledge around what they own and how stock-based compensation works.

“We’re in a very different economic environment than the past 11 years where all we saw were gains. Now is the time that advisors earn their keep – so much is at stake,” says Pam Krueger, founder and CEO of Wealthramp. “A true fiduciary will position investors for both downside protection and upside success. They'll ensure clients have a solid asset allocation plan that secures enough capital to manage through crises and capitalize on opportunities, as evidenced by the results of our survey. In this current Covid-19 environment, it is more important than ever that Americans know who they can turn to for financial advice that is personalized and conflict-free.”

To learn more about the survey findings and access consumer resources around how to find a fiduciary financial advisor, visit www.wealthramp.com. For more information on Wealthramp, follow us on TwitterLinkedIn, and Facebook.

About Wealthramp

Wealthramp is a personalized and unbiased financial advisor referral service, connecting investors with the fiduciary advisors who best match an individual's investing priorities. The company launched the only network of independent, fiduciary, fee-only financial advisors expertly vetted by television investor advocate Pam Krueger. Built on the foundation of consumer advocacy and transparency, Wealthramp screens out conflicts of interest and engages with only established fiduciaries who work solely in the interests of clients. The Wealthramp network serves Americans nearing retirement as well as forward-thinking Gen X and Millennial consumers and is comprised of independent fiduciaries specializing in holistic financial planning, income strategies, stock-based compensation, special needs, and more.

Finding the right financial advisor can be challenging. Let Wealthramp help you find the right advisor who will help you with your personal financial needs and situation.

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