Mutual funds are no longer the go-to investment for financial advisors. Their new favorite? Exchange-traded funds (ETFs).
A recent survey shows that, for the first time, advisors are embracing ETFs more than any other investment option, including traditional mutual funds.
"I think [ETF popularity] speaks overall to what investors want," said Valerie Chaillé, a certified financial planner and director of practice management for the Financial Planning Association (FPA). "They like low cost, transparency and liquidity."