Amid volatility, Americans stay optimistic – and advisors are helping steer the course

Despite ongoing market turbulence and persistent inflation concerns, a majority of Americans remain confident in their financial futures – especially those working with financial advisors – according to two new surveys released this week by Edward Jones and the American College of Financial Services.

The Edward Jones study, developed in partnership with Cerulli Associates and unveiled at the 2025 Aspen Ideas Festival, found that 74% of Americans are optimistic about what lies ahead for their personal finances. Nearly four in five respondents (79%) believe they are on track to achieve or have already reached what they define as a financially fulfilled life.

That sense of fulfillment varies. For many, it means having the freedom to pursue personal passions (46%), providing a better life for family (42%), or maintaining financial security in the face of unexpected events (41%). Despite macroeconomic headwinds, respondents demonstrated a readiness to adjust behaviors—45% said they were willing to reduce discretionary spending, while 33% planned to focus on debt repayment and 28% aimed to improve their financial literacy.

“In the half a million conversations our financial advisors have had with our clients in the past five months, only a quarter of our clients highlight financial stress,” said David Gunn, principal and head of US and Canada business units at Edward Jones. “This reflects the power of deep, personal, trusting relationships and holistic financial advice.”

Gunn, who had long been focused on the Canadian side of Edward Jones's operations, saw his purview expand to the US this month as part of a broader C-suite shakeup the giant broker-dealer announced in April.

While inflation remains a top concern – cited by 55% of respondents – many Americans report steady progress toward financial goals. In tracking their own financial standing, however, just 18% compare themselves against personal benchmarks, while others measure progress by how they fare relative to peers (33%), partners (22%) or colleagues (19%).

Still, respondents felt on track across a range of goals. The majority said they were on par with or ahead of others in achieving financial stability (88%), travel goals (84%), financial literacy (83%), retirement savings (80%), and homeownership (78%).

“We’re seeing advisors stepping into the role of behavioral coaches – helping clients navigate uncertainty, manage emotions, and stay aligned with their long-term goals,” said Asher Cheses, director of wealth management at Cerulli.

The survey also revealed gaps in perceived income needs. Nearly two-thirds of respondents (63%) said they would require an annual income of at least $150,000 to feel financially free.

A separate study from the American College of Financial Services offered additional perspective from the advisor side of the conversation.

Although 76% of financial advisors in that study said their clients are experiencing increased anxiety, only 22% reported feeling anxious themselves. Nearly half (48%) described their mindset as neutral, while 30% said they are optimistic about their practices.

While 41% of advisors said client inquiries had increased, only 17% reported a rise in requests to revise financial plans. In contrast, 32% reported more frequent requests to make changes to investment portfolios, suggesting that short-term market swings are still a primary concern for many clients.

The data also points to the growing emphasis on holistic advice. Forty percent of advisors said their practices focus mostly or entirely on financial planning, while 18% prioritize investment management. The remainder said they split focus evenly between the two.

However, while nearly nine in ten planners (86%) said they offer retirement withdrawal strategies, only 24% reported holding the Retirement Income Certified Professional designation, highlighting a potential gap between services offered and formal specialization.

Among investors, those who work with a financial advisor tend to feel more secure. The Edward Jones study found that 77% of individuals who regularly engage with an advisor have a financial plan, compared with 57% of those managing their finances independently. Additionally, 74% of clients with advisors expressed confidence in reaching financial freedom, versus 63% of their self-directed peers.

Cost remains the primary hurdle for those not working with advisors. Nearly half of respondents (46%) said perceptions of fees and costs deterred them from seeking professional guidance. Others cited a preference to manage their own finances (29%) or felt their financial lives were not complex enough to warrant advice (22%).