Exchange-traded fund risks and the use of ETFs in portfolio construction were ranked as the top two topics that advisors understood the best, according to new findings from Cerulli Associates.

Liquidity and trading? Not so much.

"The type of assistance advisors require from ETF sponsors varies significantly," stated Alec Papazian, associate director at Cerulli Associates. "ETF sponsors view liquidity as the top growth challenge in 2013 as nearly two-thirds (63%) rated it as such. "Creating programs to meet educational needs of advisors across the spectrum of adoption and sophistication is a difficult task, but it will be necessary for some time."


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