{"id":1457,"date":"2014-05-31T12:58:05","date_gmt":"2014-05-31T12:58:05","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/05\/more_older_investors_are_getti"},"modified":"2022-04-03T15:49:57","modified_gmt":"2022-04-03T20:49:57","slug":"more-older-investors-are-getti","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/more-older-investors-are-getti\/","title":{"rendered":"More Older Investors Are Getting Rid of Advisers and Managing Their Own Funds Online"},"content":{"rendered":"

According to InvestmentNews<\/em>, nearly half of investors in their fifties are now self-directed when it comes to their investments. This means that their main provider for investment advice is either a discount brokerage or a robo-adviser. 40% of investors in the 60 and over age group also are calling themselves self-directed.<\/p>\n

The reasons for why older investors are gravitating toward the Internet to manage their own investments vary. For some, it can be a cost saver, compared to paying human advisers their numerous fees. There is also now a greater mistrust of financial representatives in the wake of the 2008 economic crisis. Also, getting everything handled online and without having to go out and meet with an actual adviser for advice or updates is proving very convenient for some.<\/p>\n

InvestmentNews <\/em>offers up as one example a 76-year-old investor, Lois Mayerson. She and her now 81-year-old husband fired their traditional advisers two decades ago. She said they started managing their own money because their financial advisers were losing the funds faster than the couple could deposit the cash into their accounts. Another investor, 58-year-old Joseph Giuliano, works with Betterment, an online financial adviser. Giuliano says that he and his wife have about $500,000 in a Betterment account. He believes that the only reason to have an adviser is when making bigger picture plans about taxes, college spending, insurance, and estate planning.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to InvestmentNews, nearly half of investors in their fifties are now self-directed when it comes to their investments. This means that their main provider for investment advice is either a discount brokerage or a robo-adviser. 40% of investors in the 60 and over age group also are calling themselves self-directed. 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This means that their — May 31, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/more-older-investors-are-getti\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"More Older Investors Are Getting Rid of Advisers and Managing Their Own Funds Online — Investor Lawyers Blog — May 31, 2014\" \/>\n<meta name=\"twitter:description\" content=\"According to InvestmentNews, nearly half of investors in their fifties are now self-directed when it comes to their investments. 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