Edward Jones Survey Shows Two Thirds of Americans Still Waiting for Portfolios to Recover

ST. LOUIS, April 28 /PRNewswire/ -- Investors are more optimistic about their investment portfolios recovering sooner rather than later, according to a recent Edward Jones survey.  But despite double-digit increases in the stock market, two-thirds (67%) of Americans say they haven't recovered losses suffered from market lows a year ago.

On the positive side, the survey found a significant decrease in the number of Americans who think it will take 6 years or more to recover investment losses, 24% in 2009 versus 15% in 2010.  And more Americans are saving for retirement today than a year ago (78% vs. 69% respectively). In fact, respondents aged 55 to 64 showed the greatest overall increase, with 83% currently saving for retirement versus 69% in 2009.

The study of 1,000 respondents, conducted by Opinion Research Corporation on behalf of financial services firm Edward Jones, found that 12% of Americans say the value of their portfolios has already recovered.  In the same survey administered one year ago, only 4% expected savings to be fully restored by 2010.

"In general, Americans are more optimistic about their financial futures," said Alan Skrainka, chief market strategist at Edward Jones. "The market is clearly showing signs of improvement and investors are feeling better about the amount of time it will take for their portfolios to recover."

Other key findings from the survey included:

• Whites and African Americans were equal in their estimations that it will take 2 to 3 years for their retirement savings to recover (18%), while only 4% of Hispanics agreed
• Fewer whites believe it will take more than 3 years to recover losses compared with 2009 (27% vs. 40% respectively)
• Respondents in the South experienced the quickest recovery in their retirement savings (13%) compared to last year's survey, which showed only 2% thought it would be possible in one year's time
• Americans who reside in metro regions across the U.S. have experienced quicker savings recovery than those who live in non-metro areas (13% vs. 8% respectively)
• Of the respondents who make more than $100K a year, 16% said their portfolios have recovered, versus only 2% from the 2009 survey who thought it would be possible in one year

About Edward Jones

Edward Jones provides financial services for individual investors in the United States and, through its affiliate, in Canada. Every aspect of the firm's business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The firm's 12,000-plus financial advisors work directly with nearly 7 million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

Edward Jones, which ranked No. 2 on FORTUNE magazine's "100 Best Companies to Work For 2009," is headquartered in St. Louis. The Edward Jones Web site is located at www.edwardjones.com, and its recruiting Web site is www.careers.edwardjones.com.  Member SIPC.

* Survey was based on 1,013 telephone interviews of U.S. adults conducted between the dates of April 8 and 11. The margin of error was +/-3%.

SOURCE Edward Jones