Bill Crager has a unique vantage point from which to watch the investing mindset of advisors. As president and co-founder of Envestnet, which provides front- and back-office outsourcing and access to a host of SMA and other investing managers and vehicles, Crager sees what advisors want, what they need, and what they're actually doing. "We see a growth in advisor-managed assets," Crager says, in what Envestnet calls its "advisor-as-portfolio-manager program. They're stepping in, taking over, and pushing the buttons more than the professional managers to take a more defensive stance rather than a long-term buy-and-hold perspective."
But, he warns, "it gets tricky in trying to tactically manage this market. That's where professional asset management will in this time be validated or not."