Claiming they are giving advisors what they asked for, American Funds recently rolled out its new ‘Portfolio Series’ of funds. It remains to be seen if the new products will help staunch the severe outflow of assets at the once dominant fund company.
Blame it on volatile markets, a sluggish economic recovery, or uncertain prospects, but the pool of advisors who are willing to write bigger checks to support their practices appears to be topping out.
After two years of steady increases...
