Financial advisers plan to scale back clients’ mutual fund holdings, while expanding their exchange-traded fund investments, Cogent Research found in a survey of 1,500 advisers and brokers.

They plan to trim clients’ exposure to mutual funds from 30% to 27% in 2001. In 2007, the average exposure was 35%. ETFs will go from comprising an average of 8% of portfolios to 14% by 2011, up substantially from the 5% they constituted in 2007.

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