Financial Planners: Are Bank CDs Becoming a Popular New Asset Class?

Interestingly enough, the CFP Board just released a survey of 5,000 Certified Financial Planners. The study says that given the current financial turmoil, 2/3 of financial planners have seen an increase in potential clients. It also says that 45% of financial planners have clients that are moving their assets into lower risk investments.

At MoneyAisle, we’re seeing this trend, too. Given the current state of the economy, we’ve seen a huge spike in interest in our auctions for cd rates and savings accounts. As an institutional member of the Financial Planning Association, we recently attended the FPA national conference in Boston. Many of the financial planners and RIAs with whom we spoke echoed the opinion that their clients were looking for safer places to put their investments. As a matter of fact, many investment advisors commented that the poor state of the equities market and the poor yields on bonds are causing CDs to emerge as a popular asset class.

Given this trend, we received very positive feedback at the conference on MoneyAisle – the only one-stop-shop for consumers and financial planners to quickly secure a great rate from a pre-screened, FDIC insured bank in a matter of minutes.

If you’re a financial planner or a RIA and want to learn more about how other investment advisors are using MoneyAisle to help their clients during these troubling times, please sign up for our financial planners email list. Please comment and let us know if you’re seeing something similar – are CDs becoming a new asset class?