With coronavirus pandemic plunging growth of all sectors worldwide, financial advisory firms also witnessed decline. The toll of the pandemic was serious to such an extent that some of the firms announced closure. Currently, as the vaccine has been rolled out, the business of these firms is likely to grow because massive unemployment has been recorded in the US as well as other parts of the world. Literally speaking, not many people are aware about availing services of financial advisers. As per available data, there is ample space for growth in business of financial advisory firms. Once economic activities gain momentum, job seekers and re-employed people will be able to avail services of financial advisory firms. So, that the financial experts can help them invest their savings in potential areas. In America, the financial planning by young people is mostly done by their parents, friends, spouse, or someone else. On the other hand, it is also a custom that the financial advisory firms, at present, target the rich only. This article sheds light on Top 5 Financial Advisory Firms’ Stocks for 2021. The data has been gathered by Insider Monkey in an article, published on Yahoo.
One of the best financial advisory firms of which stocks could be bought during 2021 is Morgan Stanley. This company provides services in wealth management under its subsidiary Morgan Stanley Wealth Management. According to sources, Morgan Stanley is getting a $100 million ‘slice’ of Steven Choen-backed hedge fund Point72. As per available data, 70 hedge funds have made investment in Morgan Stanley till the end of previous year’s third quarter. Another popular financial advisory firm is Bank of America Corporation. It is also a best option to buy stocks of. This bank provides services in the areas of investment, financial and wealth management through its subsidiary Merrill Private Wealth Management. The wealth management service of the bank provides various products and services for brokerage and personalized wealth management. The bank witnessed signs of recovery during the fourth quarter of 2020, due to improved consumer spending, loan demand and strong business activity. According to sources, till the third quarter of 2020, 88 hedge funds have invested in stocks of this bank. In this article, we covered only 2 firms. You can read about other financial advisory firms in the article 10 Best Financial Advisory Firms To Buy Now on Yahoo.