New numbers from UHNW tracking group Spectrem show that the rich are starting to thaw when it comes to investing in stocks.
Ultra-rich investors are finally moving out of massive cash positions, Spectrem says.
But for all that bluster, 47% are still more interested in capital preservation than in accumulation. This is an opportunity for their advisors to argue for a reallocation over the long term.
However, doing that requires trust. And according to new data from PR firm Edelman, 38% of people trust the financial industry less than they did a year ago.