It’s all about the client, a panel of advisors at the Money Management Institute (MMI) Fall Solutions conference said. Asset allocation should be based on seeking investments that are appropriate for each client.
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Portfolios are becoming more correlated to the markets because of investors’ need for income in a low interest rate environment that’s moving them to seek higher yields that also carry higher risk.
Some advisors use a centrally managed account system
to free them to spend more time getting to know their clients and keeping up with their busy lives—and the changes that will inevitably require monitoring and review as life events happen and life stages shift.
The panel gave money managers in attendance a good idea of what advisors want from them, which I more than a standard allocation.
They want more customized solutions to be able to support clients in meeting their personal, financial, and investment goals among others. Anything that will keep clients happy. That was the focus of this panel.