“The more we go up the closer we’ll get to a correction,” Aguilar added.
On Monday, Lizz Ann Sonders, chief investment strategist at Charles Schwab, warned that retail investors are beginning to become more confident as institutional investors are growing fearful, which have historically led to market tops.
“I would like to see a bit of a pullback here,” Sonders said at the conference, CNBC reports. “Fun as (melt-ups) might be, they don’t tend to end well.”
The Schwab IMPACT survey also revealed trends within the advisory community. According to a survey of over 800 RIAs, 55% of advisors say top firms will have to offer low-cost index funds, like mutual funds and ETFs, to attract business. Respondents also believe social media is also becoming a key marketing component for driving new businesses.