A new survey of CFPs indicates that the recent scandals have shaken the confidence of both the planners and their clients in the securities markets. In fact, almost 90 percent of the planners said their clients have less confidence in the markets as a result of the series of corporate governance, accounting, and mutual fund scandals. In the case of the planners, just over 60 percent said they were less confident in the markets.
What is so interesting about the survey is not the clients' reaction, but rather the planners'. They are the ones that are trying to encourage investments and they are now admitting that they have less confidence in the vehicles being used for their clients' investments.
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