Here's a funny little disconnect in the world of investing: Financial advisors and stockbrokers are largely bullish on the economy and the markets, while their clients in the millionaire class remain much more cautious. That's according to a new study from Fidelity Investing. The individual investors aren't just more careful about stocks; they have a similar lack of confidence in real estate, consumer spending and business spending.
The study found that the wealthy are much more interested in fixed-income investing than their advisors are. And while 44 percent of all the advisors were seeking to boost their clients' presence in international and emerging markets, only 26 percent of the millionaires reported the same.
Still, 81 percent of those millionaires report using at least one financial advisor, and many of them have more than one on call. So it's clear that they're soliciting expert advice on their finances; it's not clear whether they're using it.