ETF investors make better clients for financial advisers than mutual fund investors, says a study by Cerulli Associates and the Investment Company Institute, Investment News reports. Investors who use ETFs tend to be wealthier, younger and better-educated, fitting most advisers’ description of an ideal client. “ETFs are attracting investors that understand the benefits of indexing”, said Christian Magoon, an industry consultant. The study shows that the median household income of mutual fund investors is $80,000, compared to $130,000 for ETF investors.

Click here for the story from Investment News.