While not an apples-to-apples comparison for DC plans, it’s interesting to note that only 39% of advisors surveyed by Russell in their recently released quarterly report used investment policy statements for all their clients. While most used them, 21% of the advisors surveyed didn’t use investment policy statements at all. Reducing risk was the major reason investors strayed from their investment policy, with a majority who did so relying on social media, friends and family.
What’s weighing on the mind of investors today? Government policy. Surprisingly, Gen X (30-47) investors were most optimistic, followed closely by Gen Y (<30) and then Baby Boomers, with the Silent Generation (66+) the most pessimistic.
