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Recession Stifles Risk, Members Cling to Conservative Investments

Rather than having to pull rabbits out of his hat in 2009, Scott Boyd took a conservative yet diverse approach to buffer his mostly older clients against an unstable economy.

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Rather than having to pull rabbits out of his hat in 2009, Scott Boyd took a conservative yet diverse approach to buffer his mostly older clients against an unstable economy.

Boyd is an investment adviser with $1.6 billion Kern Schools Federal Credit Union in Bakersfield, Calif. Of the 1,000 members he works with, their average age is 65 to 75 and a big percentage of them have $1 million or more in assets. He spent the past year convincing many of his clients to spread out and diversify and keep some links to the stock market even though some wanted to jump ship.

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