A number of advisers echoed the sentiments of Frank Geremia, president of Geremia Financial Services LLC, an Edison, N.J., firm with $50 million under management. "The farther away we get from 9/11, the more people are getting into the markets," he said. "They're more active and less passive."Mutual funds are evidently being displaced by Exchange Traded Funds, though they remain dominant.
Friday, October 14, 2005
Planners: Business booming; mutual funds losing luster
That's the conclusion drawn here from a recent survey of financial planners around the country. What's the key?
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As reported in our August 14 post, investors have now put more money into no-load funds than into mutual funds sold by brokers (aka planners working on commission). Strong advertising and relative novelty are making ETFs a viable sales alternative. To read up on ETFs, see this Morningstar article.
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