Money Managers Coax Tepid Investors Back into the Market
Don’t let the stock market’s comeback fool you, money managers say there still is a lot of wealth sitting on the sidelines due to a crisis of confidence in institutions like Wall Street and especially Congress.
The stock market hit a low of just above 7,000 in early 2009, losing nearly half its value in a two-year period, but it has steadily climbed back toward pre-recession levels despite boondoggles, recession, bailouts, and mounting government debt.
Financial planner Tom Carroll, senior vice president and branch manager for Robert Baird & Co. in Madison, and Joan Burke, president of First Business Trust & Investments, represent wealth management organizations that aren’t too big to fail and that rejected the risky products that were symbolic of the now discredited "financial supermarket" model. As the economy struggles to gain some footing, they hope to bolster investor confidence through education, stock market history lessons, and timely due diligence.
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