Data & Research March 8, 2011

Don’t Keep Millionaires Waiting

Forty percent of millionaires expect a call-back from their financial adviser within two hours, according to Spectrem Group's “Millionaire Investor 2010” survey.
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An even more demanding 14% of millionaires want to hear from their adviser within the hour, according to Spectrem. Altogether, 72% of investors with a net worth of $1 million to $5 million, not including primary residence (NIPR), want to hear back from their adviser within 12 hours of their initial call. Not returning calls in a timely manner was the number one reason named for changing advisers (73%), followed by not providing good ideas and advice (57%).

Similar standards apply to e-mail. More than half (56%) of millionaires want their adviser to respond to e-mails within 12 hours. Nearly one in four (24%) expect a reply within 2 hours.

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The Spectrem report “Millionaire Investor 2010” is based on a survey of 997 households with a net worth of $1 million to $5 million, not including primary residence (NIPR), conducted in November of 2010.

Deals & People March 8, 2011

Lincoln Names DC Products Leader for Small Market

Lincoln Financial Group appointed Michael Conte as Vice President, Small Market Business Leader for the company's Defined Contribution Products team.
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Conte will report to Eric Levy, Senior Vice President, Head of Defined Contribution Products, and will oversee cross-functional initiatives to help grow Lincoln’s revenue and earnings in the small market space – an area where the company says it sees a significant opportunity for growth.   

During his 13-year tenure at Lincoln Financial Group, Conte has held numerous leadership positions across a variety of functional areas including Sales, Internal Sales and Compliance, and Retirement Plan Administration for Delaware Investments. Most recently, Conte served as DC Product and Relationship Manager for Lincoln Financial Distributors. He earned a bachelor’s degree in business administration from Rider University.   

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In addition to Conte’s new position, Lincoln promoted senior-level employees John Weber in a new role as Vice President, Multi-Fund Business Leader and Bob Melia as Vice President, Defined Contribution Product Development. Both positions, reporting to Levy, will help Lincoln’s Defined Contribution business enhance its growing presence in the market and capitalize on industry trends, the company said.

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