WASHINGTON--Across the board, executives from leading mutual fund companies reported during the Investment Company Institute's General Membership Meeting that investors have held steady during market turbulence, with only 1% to 3% redeeming equity fund shares in the face of huge market drops.
American Funds surveyed its advisers and found that a mere 1% of their clients left the marketsforever in March. At LPL Financial, 1% to 2% got out in March, said Mark Casady, chairman and CEO. Most are staying the course because of the market rebound. Its all about being there to be a great coach for your clients. You cannot overstate the value of advice.