Affluent Investors Prefer Face-to-Face Meetings With Advisers

Phone calls and then emails are the two next preferred points of contact.

Affluent investors’ No. 1 preferred method for working with their financial advisers is face-to-face meetings, followed  by phone calls and then emails, according to the second quarter 2016 John Hancock Investor Sentiment Survey.

Asked how their adviser could improve their relationship with them, 31% of affluent investors say more in-person interaction, followed by 20% saying regular electronic updates about their account. Only 11% say online self-service tools are useful, and a mere 5% would like regular updates about the financial markets.

The biggest service that their financial advisers provide is investment recommendations and a plan for managing those investments, cited by 66% of affluent investors. Sixty percent relied on their adviser for a retirement plan, and 53% said their adviser provides a comprehensive plan for major life events and goals. Seventy-three percent consider themselves to be a partner of their financial adviser in terms of exploring options and making decisions with regards to their portfolio. However, only 18% accept what their adviser recommends.

The second quarter online survey, conducted by Greenwald & Associates, was conducted among 1,011 investors in May. To qualify, investors had to participate in their household’s financial decisions, have a household income of at least $75,000 and assets of $100,000 or more.