ADDITIONAL INSIGHTS FROM ADVISORS
PGIM Investments obtained data from nearly 200 U.S.-based financial advisors via online survey in March 2023 to gain more perspective on needs among high-net-worth clients. Here’s a snapshot of what advisors reported as top client concerns and the portfolio solutions clients prefer amid prolonged market uncertainty.
Eight out of 10 advisors surveyed (78%) believe that the chance of a recession in the next 6 to 12 months is 50% or higher.
Advisors rank their clients’ top economic concerns as (1) inflation; (2) interest rates; and (3) political uncertainty.
Advisors say that clients prefer (1) domestic public equities; (2) domestic fixed income; and (3) cash as the most suitable asset classes for managing risk.
Top services preferred by high-net-worth clients from advisors are retirement income planning and generational wealth transfer planning.
All advisors (100%) have clients interested in tax management strategies.
Client interest for tax management stems from wealth transfer/estate planning concerns, expectations for higher taxes in the future, and general retirement preparation.
Navigating uncertainty and unpredictable market conditions
Positioning portfolios for income, growth, and wealth preservation
Widespread interest in tax management
