This is especially true for those drawing an income and, according to White, advisors are failing to adequately protect this.
Macro factors should, therefore, continue to support earnings growth but investors need to be cautious as volatility could easily spike given the significant geopolitical and growth risks facing the global economy.
The average cash balance has soared to 5.6 percent from 4.6 percent for each of the last three months, marking the biggest jump in cash since the debt-ceiling crisis in 2011 with the allocation to cash jumping to 43 percent overweight.
Clearly, collectibles remain a hot commodity, if mainly among the jet set and the uber-rich, attracting ever-higher, record-setting bids.
This year’s report also draws on data from more than 150 wealth managers, whose input yielded insights about the performance pressures that many firms are facing and about strategic areas for improvement.
“The level that we’re at right now is sustainable, and I think we’re going to see the U.S. business continue to grow faster than the rest of the bank -- but not that much faster than the rest of the bank.”
Given the mass adoption of digital banking, it might be easy to think that financial services has already gone through its “sudden change” phase, but the change we’ve seen in banking so far likely falls more into the “gradual&r
Men, Ms. Krawcheck said, are conditioned early on to be more aggressive investors, often receiving financial advice geared toward beating the markets and generating immense wealth on Wall Street.