As we turned the page to a new quarter, Strategas Asset Management surveyed those Private Wealth Managers within our distribution list to gauge how they and their clients view the current investment landscape.  Here are our key takeaways:

• With market risks skewed to the downside and rates moving higher for what appears to be a higher for longer period, money is moving out of equities and into fixed income.
• Inflation, rising rates, and the lack of confidence in the government’s ability to manage rising debt and interest costs weigh heavily on both the end client and private wealth managers.
• Despite 251 new active ETFs coming to market in 2023 thru the end of the third quarter, it is surprising to see almost half of private wealth managers still not using active products.

Full list of questions and results, representative of responses received[1]:

Question #1:  What asset classes are you moving money into currently?

The survey results may not be representative of any specific client's experience. Any reference to the survey results provides no guarantee for future performance results and is not constant over time.

Question #2:  What asset classes are you moving money away from currently?

Question #3:  Do you feel that the current risks in the market are skewed towards the upside, downside, or are neutral? 

Question #4:  What are some of the biggest concerns amongst your clients?

Question #5:  What do you see as the biggest investment risks?

Question #6:  Which active ETF products are you adding exposure to?

[1] Methodology:

Strategas Asset Management, LLC compiled these survey results using data as of October 9, 2023, by weighting responses received from 33 (Questions 1, 3, and 6), 32 (Question 2), 24 (Question 4), and 23 (Question 5) private wealth managers, respectively.

The survey results may not be representative of any specific client's experience. Any reference to the survey results provides no guarantee for future performance results and is not constant over time.

This communication was prepared by Strategas Asset Management, LLC ("we" or "us" or “our”). This communication represents our views as of 10/20/2023, which are subject to change, and are presented for illustrative purposes only. The information contained herein has been obtained from sources we believe to be reliable, but no guarantee of accuracy can be made. This communication is provided for informational purposes only and should not be construed as an offer, recommendation, nor solicitation to buy or sell any specific security, strategy, or investment product. This communication does not constitute, nor should it be regarded as, investment research or a research report or securities recommendation and it does not provide information reasonably sufficient upon which to base an investment decision. This is not a complete analysis of every material fact regarding any company, industry, or security. Additional analysis would be required to make an investment decision. This communication is not based on the investment objectives, strategies, goals, financial circumstances, needs or risk tolerance of any particular client and is not presented as suitable to any other particular client. Past performance does not guarantee future results. All investments carry some level of risk, including loss of principal.

Strategas Asset Management, LLC is an SEC Registered Investment Adviser affiliated with Strategas Securities, LLC, a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser. Both Strategas Asset Management, LLC and Strategas Securities, LLC are affiliated with Robert W. Baird & Co. Incorporated ("Baird"), a broker-dealer and FINRA member firm, and an SEC Registered Investment Adviser, although the firms conduct separate and distinct businesses.