Data & Research April 3, 2012

Military Experience a Plus in Advisers

Americans have a positive view of military veterans when considering a financial adviser, underscoring market demand for veterans in financial services. 
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The top traits that appeal to Americans included discipline (77%), goal orientation (73%) and integrity (72%), according to a survey by Edward Jones. Six in ten Americans said they would work with a veteran to thank him or her for their service. 

The unemployment rate continues to drop nationwide but remains a persistent issue for veterans. Recent figures from the Bureau of Labor Statistics show an unemployment rate of 8.3% for veterans, which is even higher at 12% for those who served post-9/11. Veterans looking for viable career opportunities should consider the financial field, Edward Jones suggested.  

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The company said 11% of their advisers – more than 1,300 – have previous military experience. “Since our founding, Edward Jones has recognized the transferable skills and exemplary characteristics military veterans can offer our clients,” said Jim Weddle, Edward Jones managing partner.  

A majority of survey respondents (90%) said they feel skills gained in the military are transferable to post-military careers. Slightly more than half believe those skills are specifically applicable to a career as a financial adviser. Seventy-five percent of Americans said they would be likely to work with a financial adviser who had served in the military. 

Results are based on telephone interviews of 1,006 adults (502 males and 504 females) in households in the U.S., conducted in March. 

Data & Research April 3, 2012

77% of Americans Interested in Alternative Assets

More than three-fourths of Americans familiar with retirement accounts are interested in investing their individual retirement accounts (IRAs) in alternative assets.
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Despite the interest, 44% do not understand how to achieve that goal, according to opinion research from PENSCO. The PENSCO Market Barometer, which polled investors and high-net-worth advisers, also found that eight in 10 advisers say their clients are interested in investing in alternative assets, but only 10% of the advisers offer that capability.

The research also found that two-thirds of advisers say that investing in alternative assets can build wealth for clients, and 82% of advisers expressed interest in providing this option to clients. Investors and clients agree that the top alternative investments are real estate, precious metals and private equity.

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PENSCO conducted the research with San Francisco-based Koski Research. The firm polled 1,000 people across the country from February 6 to 10, 2012, and 365 financial advisers with more than $10 million in assets under management from February 7 to 17, 2012.

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