Live-human advisors may have a big effect on what happens to their clients’ assets during periods of market volatility.
The Million Dollar Round Table (MDRT), a group for life insurance and financial services professionals, raises that possibility in a summary of results from a new, online survey of 500 U.S. consumers ages 18 and older.
A firm hired by MDRT conducted the survey on June 1 and June 2, after a week of dramatic swings in the Dow Jones Industrial Average.
MDRT analysts found that the consumers who said they had financial advisors were much more likely than other consumers to say they follow news of investment market volatility closely.
About 51% of the consumers with advisors said they follow volatility news closely, compared with 31% of the consumers without advisors.
About 48% of survey participants with advisors said they would talk to their advisors before adjusting their portfolios to cope with future volatility.