Do mutual fund shareholders get professional investment advice?
Yes. Institute studies indicate that a majority of mutual fund shareholders use a professional financial adviser in making investment decisions about allocating financial assets. According to Institute research, an estimated 82 percent of new sales of long-term (equity, bond, and hybrid) funds were made through a third party or intermediary in 1999, up from 77 percent in 1990. During the same period, new sales of long-term funds made directly from fund companies to investors fell to 18 percent from 23 percent.
