What advisors are telling their clients

Sollina Images | Tetra Images | Getty Images

More from FA Playbook:

Here’s a look at other stories impacting the financial advisor business.

“The 2022 buzzword was recession,” said Douglas Boneparth, a certified financial planner based in New York. “And here we are in 2023 with a myriad of economic data suggesting otherwise.”

Boneparth, who is president of Bone Fide Wealth and a member of CNBC’s Financial Advisor Council, said data like the strong labor market and falling inflation isn’t pointing to the economic downturn experts predicted.

The U.S. Bureau of Labor Statistics reported annual inflation fell to 3% in June, and the July unemployment rate was 3.5%, just above the lowest level since 1969, according to the U.S. Labor Department.  

Of course, with recessions notoriously difficult to predict, even for economists, advisors have warned clients about making fear-based investing decisions.

Recession ‘highly unlikely’ in the next 12 months

The odds of a recession in the next 12 months are highly unlikely.

Ted Jenkin

Founder of oXYGen Financial

‘We constantly educate our clients’


Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top