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Financial Planning Research Roundup: October 2022
• Cara Woodland • November 1, 2022
In this month’s research roundup, we see cryptocurrency and environmental, social, and governance (ESG) investing are experiencing massive growth in the industry. Next-gen advisors have more focus on investment management and financial planning than established advisors, who place more emphasis on retirement income planning. Also, a recent look at consumer finance shows that many Americans are off-track financially.
1. 2022 Consumer Financial Outlook Survey – Thrivent
A recent look at the state of personal finance for American consumers shows that many are struggling. Fifty-nine percent of survey respondents said they’re living paycheck to paycheck, leaving no room for savings, and 60 percent said they’d be concerned if they had an unexpected $500 expense. Dive deeper into Thrivent’s full report here.
2. Next-gen and Established Advisors Report – RBC and Wealth Management IQ
This report takes a look at key differences between next-gen advisors and established advisors. The study revealed that established advisors primarily focus on retirement income planning and investment management, with financial planning being their third-most delivered service. Next-gen advisors, on the other hand, mostly concentrate on investment management and financial planning. Learn more by downloading the report here.
3. Global State of Crypto Report 2022 – Gemini
Gemini’s recent report claims that crypto has become an established asset class. Venture capital investment in crypto and blockchain startups exceeded $30B in 2021, with $10.5B invested in Q4 2021 alone. With cryptocurrency market capitalization over $3T and bitcoin achieving an all-time high of $65,000, the report claims crypto is the highest-performing asset class in the last ten years. Get the full report here.
4. Exponential Expectations for ESG – PWC
It is often thought that the U.S. trails Europe in attitudes toward ESG. However, a recent report from PWC shows that this is not necessarily the case. Eighty-one percent of institutional investors in the U.S. plan to increase their ESG allocations in the next two years. This would create a rise of ESG AUM in the U.S. from $4.5T in 2021 to $10.5T in 2026. Learn more and read the full report here.
Be sure to stay tuned for next month’s financial planning research roundup!
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