A recent statement released by Invesco indicates that the majority of registered investment advisors (RIAs) believe that volatility in the market has made investors more risk averse in the past year.
The market research study conducted by Invesco indicated that 59 percent of RIAs polled believe that market volatility has made clients more wary of risk and that only 15 percent of professionals polled think that these clients will be more risk tolerant a year from now.
More than two-thirds (70 percent) of the RIAs polled stated that market volatility caused their clients more concern than any other issue, and 99 percent of these professionals listed it among their top three concerns. A meager 6 percent of RIAs stated that accumulating wealth was the top concern of their clients.
One-quarter of respondents in a recent Wells Fargo Bank poll of 1,500 Americans who earn between $25,000 and $99,999 a year indicated that they expect to work until the age of 80, according to Reuters. The other three-fourths expect to work in retirement.