Advisors are turning to annuities, using tactical asset allocation and continuing to move to fee-based business models, as they cope with the effects that the sluggish economic climate is having on their practices, according to findings from the latest Russell’s Financial Professional Outlook.
About 45% of advisors are responding to decreased margins and increased investor risk aversion by moving transactional clients to fee-based accounts, according to Russell Investments. That falls in line with a general industry shift toward fee-based accounts that began several years ago, according to Phill Rogerson, managing director of consulting and client service for Russell Investments.
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