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?
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.

1 comment:

JLM said...

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.