Fox News reported Tuesday that a new survey shows that while there are some companies that have a lot of cash on hand, the majority of them are still in the same financial position they were in a year ago.
Fox Business Network’s “The Circus” reported that in a survey of financial advisors, more than half of the respondents said they would sell their firms in order to increase their own wealth.
The survey asked about companies with a net worth of $2.5 billion or more, and more than three-quarters said they wouldn’t sell.
The survey of 1,500 advisors also found that many are still struggling financially.
Only 37 percent of respondents said that they are currently making at least $100,000 a year, and nearly half said that their income will decrease by more than $100 a month, the survey found.
More than half, 55 percent, said they plan to reduce their retirement accounts by $10,000, while 27 percent said they are considering it.
The median income of the survey’s respondents was $62,600, down $10 from last year.
The median income for those who were employed was $51,300, down from $56,400 last year, the report found.