The CEO of Voya Financial has some reassuring words for investors frightened by the geopolitical risks around the world and the recent pullback in the markets: Think long term.
Rodney Martin tells Fortune’s Susie Gharib: “We are bullish on the long-term prospect for the market. We are cautiously optimistic on rising interest rates. That’s good for our customers. It’s good for America.” But he adds, “Our biggest caution for our customers is the not jumping in and out of the market, being consistently invested with an appropriate diversification to accomplish their long-term objectives.”
This is advice Martin consistently gives to Voya’s 13 million customers. Voya, with $11 billion in annual revenue, is in the business of helping those clients save for retirement. The financial firm manages nearly half a trillion dollars in assets.
Even though the stock market’s so-called “fear gauge”, the CBOE volatility index, has skyrocketed recently, Martin still feels positive about the direction of the U.S. economy and says President Trump gets some credit for boosting business and consumer confidence. “We have seen a change in the attitude in the businesses we do business with. I am encouraged by that,” he says. “I can absolutely say that we’ve seen a change in attitude favorably toward a growing economy, an improving GDP.”