Amid Heightened Stress about Market Volatility, Financial Advisors Counsel Clients to Stay the Course, Edward Jones Study Finds

59% of American financial advisors anticipate financial planning will become more integrated into their practices as market fluctuations and wealth transfer conversations continue  

ST. LOUIS, MO – July 14, 2025 - American financial advisors say clients are more stressed about market volatility (70%) and retirement planning (43%) today than they were five years ago, according to new research from Edward Jones and Cerulli Associates.

Despite macroeconomic factors, American financial advisors say they’re unlikely to recommend changes to clients’ financial plans in response to tariffs (47%), geopolitical uncertainty (41%) and market volatility (41%). The research, conducted in April during a period of increased market volatility, captured the insights of financial advisors on the current and future advisory landscape, as well as their clients’ attitudes about their financial positions and outlook.

“As financial advisors, we hear our clients’ concerns about market volatility and the news cycle's hyperfocus on these topics. We can add the most value when we help them cut through the noise and clearly understand the impacts on their financial goals,” said Beth Stenz, financial advisor at Edward Jones in Erie, CO.

And looking at the bigger picture can positively affect clients’ future outlooks. Even during periods of uncertainty and heightened stress, American financial advisors say the majority of their clients (74%) remain optimistic about their financial futures.

Financial advisors increasingly gravitate to financial planning

As clients’ needs and preferences shift, financial planning is becoming a larger part of financial advisors’ practices. Fifty-one percent of American financial advisors say they offer comprehensive ongoing planning advice, and expect that to increase to 59% in the next two years. Additionally, 30% said financial planning resources are one of the most valuable elements their firm provides.

With the growing importance of financial planning tools, Edward Jones has continued to evolve its services accordingly. The firm launched Edward Jones Generations™ earlier this year, offering financial planning designed to meet high net worth clients’ complex needs, with a dedicated team of planning, estate, tax and other strategists.

Alongside expanded services for high-net-worth (HNW) individuals, firm data reveals that wealth transfer discussions are highest among this client segment. HNW clients are two times more likely to discuss transferring wealth than core clients.

Wealth transfer conversations constantly evolve

The ongoing generational wealth transfer continues to be a key conversation topic between financial advisors and their clients – 51% of American financial advisors noted that their clients initially engaged with them because of inherited assets.

These discussions often explore what financial fulfillment and leaving a legacy mean to each client. American financial advisors say the most important factors that lead to a financially fulfilled life vary by generation: owning a home for Millennials (60%), retiring as desired for Gen X (45%) and Baby Boomers (49%) and leaving a legacy for Silent Generation clients (71%). These conversations also help crystallize values clients want to instill in their heirs, with 69% of American financial advisors saying their clients want to pass on financial responsibility and literacy to their family members.

“When we talk to our clients about the future, we rarely have the same conversation twice, because leaving a legacy means different things to different people,” said Norm Cauntay, financial advisor at Edward Jones in Long Beach, CA. “But that’s also why we have the conversation over and over. As their financial picture evolves and they consider passing assets along to the next generation, we want to make sure we’re helping outline their path to success.”

To have a successful wealth transfer, American financial advisors say that it’s important for clients to have clear estate planning documents that reflect current values or goals (47%), establish open and transparent communication with their heirs (34%), and minimize tax liabilities (33%). And when it comes time to pass on wealth, American financial advisors say their clients most commonly use investment or retirement accounts (92%), trusts (74%) or real estate (60%) as methods for inheritance.

In addition to researching financial advisors’ thoughts on the advisory landscape, Edward Jones conducted a survey on retail investors’ goals, challenges and feelings about their current financial situations. For more information about the retail investor research, visit www.edwardjones.com/pulse.

Methodology
In the first quarter of 2025, Edward Jones, a leading wealth management firm, engaged Cerulli Associates to conduct a research study on the ‘Pulse of North America.’ This research aimed to assess retail investor and financial sentiment within the U.S. and Canadian wealth management markets. In support of this research, Cerulli Associates conducted surveys of more than 1,800 retail investors and 496 financial advisors, in addition to in-depth research interviews and focus groups. Primary research was conducted throughout March and April 2025, in both the U.S. and Canada.

About Edward Jones 
Edward Jones is a leading North American financial services firm in the U.S. and through its affiliate in Canada. The firm’s more than 20,000 financial advisors throughout North America serve more than 9 million clients with a total of $2.2 trillion in client assets under care as of March 28, 2025. Edward Jones' purpose is to partner for positive impact to improve the lives of its clients and colleagues, and together, better our communities and society. Through the dedication of the firm's approximately 55,000 associates and our branch presence in 68% of U.S. counties and most Canadian provinces and territories, the firm is committed to helping more people achieve financially what is most important to them. The Edward Jones website is at https://www.edwardjones.com, and its recruiting website is https://www.careers.edwardjones.com. Member SIPC.

About Cerulli Associates
For over 30 years, Cerulli has provided global asset and wealth management firms with unmatched, actionable insights. Headquartered in Boston, Cerulli Associates is a research and consulting firm that provides financial institutions with guidance in strategic positioning and new business development. Our analysts blend industry knowledge, original research, and data analysis to bring perspective to current market conditions and forecasts for future developments.