In case you missed it:
The SEC is back to full strength again after the Senate voted this week to confirm the nomination of Allison Lee to the role of commissioner. Lee will fill the vacant democratic seat left by former Commissioner Kara Stein, who left the agency in January.
In her previous roles, Lee served as the enforcement attorney for the SEC and most recently served as counsel to former Commissioner Stein.
Advisors say No-go on Crypto
Investors are curious, but advisors are wary of cryptocurrency, the 2019 Trends in Investing Survey conducted by the Financial Planning Association found.
In fact, 25% of advisors surveyed said they fielded questions about cryptocurrencies from curious investors this year.
However, the curiosity is mostly one-sided – 34% of respondents indicated they consider cryptocurrencies an interesting concept, but not something to invest in, yet. None of the respondents said they currently use or would recommend crypto as an investment vehicle and just 1% of respondents agreed that crypto is a viable investment option that has a place in a portfolio.
Advisors Anticipate Increased Market Volatility
According to Nationwide Advisory Solutions’ Advisor Authority Study, 56% of RIAs and fee-based advisors anticipate market volatility will increase over the next 12 months.
The study surveyed more than 1,600 RIAs, fee-based advisors and individual investors to find that 54% of investors say market volatility is the number-one scenario that would make them more likely to work with an advisor over the next 12 months.
Working with an advisor changes investor attitudes, the study found. 55% of investors with an advisor had an optimistic financial outlook versus 54% of investors without and advisor. In 2018 67% of investors who worked with an advisor had an optimistic outlook compared to just 54% without.
AdvisorNews Managing Editor Cassie Miller may be reached at cassie.miller@Adnewsfeedback.com. Cassie has an extensive background in magazine writing, editing and design. Follow her on Twitter @ANCassieM.