Financial professionals are not providing investors with a comprehensive picture of their financial well-being, according to a white paper released Wednesday by Albridge Solutions, a Pershing affiliate.
The paper suggests that the quarterly reports investors typically receive about their financial plans lack an accurate and complete picture of how, or even whether, they are achieving their goals.
When financial professionals formulate a financial plan, the paper said, they assess an investor’s current position, set goals and put in place an action plan. Subsequently, they send a quarterly report that provides investment performance against historical values, benchmarks and peers.
However, Albridge noted, these reports fail to tell investors how their investments and their personal inflows and outflows are performing in the face of market fluctuations and economic volatility.