Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
Knowing a person's investment approach could also provide insight into their financial priorities and what they're looking for in a financial advisor, a new study suggests.
By splitting investors into two categories, based on their general attitudes toward investing, researchers for Edward Jones found other points of agreement within each group regarding a variety of other financial areas, including life events they focus on and what drives them to choose a financial advisor. And, the common behaviors within the two categories were present regardless of age.
The research by Dow Jones Intelligence involved surveying 1,000 U.S. adults across all age groups and dividing them into two categories.
The first, "traditionalists," are described as more optimistic about market performance and comfortable with a buy-and-hold strategy. They also are more private about their finances. More than half of respondents (55%) fell into this group.
The remaining 45% are "trailblazers," who are pessimistic about market performance, want holistic financial advice and are more willing to share their financial information, the research shows.
"It's less about putting clients in one category or the other and more about just understanding that clients think differently," said Katherine Mauzy, principal for financial advisor talent acquisition at Edward Jones.
Commonalities do exist between the two groups, the study says. For example, among the survey respondents who prioritize health and other significant expenses — regardless of which category they fell into — preparing for future health expenses is more important than saving to buy a car or have emergency savings.
However, each group prioritizes major life expenses differently. For traditionalists, family-related aspects are the focus (32%), while personal education ranks highest among trailblazers (26%).
"This can help advisors understand there might be nuanced differences in what different clients prioritize," Mauzy said.
"It's about probing," she added. "Sometimes clients don't tell you everything.
"So understanding these characteristics can help anticipate needs they might not be thinking about."
When it comes to what investors consider when choosing a financial advisor, some of the differences are more pointed than others.
For example, 28% of traditionalists said fees were their biggest focus when choosing a financial advisor, compared with 12% of trailblazers. Of those who do focus on cost, though, more are concerned about investment fees and transaction fees or commissions than they are about the advisor's fees, the study shows.
"We hear a lot about fee compression, or that clients are concerned about what they're being charged, but it's more about value," Mauzy said.
Additionally, 53% of traditionalists focus on the financial company's characteristics — including size and heritage, employee diversity and social media presence — while just 22% of trailblazers do.
Trailblazers also are more focused on technology when selecting an advisor or advisory firm, with 37% naming it a priority, compared with 9% of traditionalists.
However, they also weigh an individual advisor's characteristics — such as experience, online presence, feedback from family or friends — more heavily in the selection process (29%) versus traditionalists (10%).
"Trailblazers educate themselves … and some advisors think of that as a threat," Mauzy said. "But advisors need to know despite that, they value advice from a financial advisor."