Data & Research July 20, 2015
Investors Say They are Partners with Their Financial Advisers
More than a third say their adviser’s recommendations have boosted their investments substantially.
Reported by Lee Barney
Nearly 70% of investors say they are partners with their
financial advisers when making financial decisions, according to the second-quarter John Hancock Investor Sentiment Survey, a quarterly poll of affluent
investors.
However, only a quarter accept their adviser’s recommendations. Among those who have listened to their adviser, 34% say the value of their investments has increased substantially due to their adviser’s recommendations.
The primary reason investors work with an adviser is to manage their investments, cited by 70%. Two-thirds have a financial adviser to develop a retirement plan, 50% to produce a comprehensive financial plan for major life events and goals, and 20% rely on their adviser to make recommendations in the event of death, disability, critical illness or other risks.
As to how they would like to interact with their adviser, 70% say face to face, with nearly as many indicating speaking over the telephone. Only 5% want to communicate with their adviser via text messages, 2% over video chat, and less than 0.5% through social media or podcasts. Asked how their association with their financial adviser could be improved, 30% say more in-person interaction and 20% say regular electronic updates about their account.
Greenwald & Associates conducted the survey for John Hancock among 1,064 investors from May 11 to May 22. To qualify, respondents had to participate in their household’s financial decision-making process, have a household income of at least $75,000 and assets of $100,000 or more.
However, only a quarter accept their adviser’s recommendations. Among those who have listened to their adviser, 34% say the value of their investments has increased substantially due to their adviser’s recommendations.
The primary reason investors work with an adviser is to manage their investments, cited by 70%. Two-thirds have a financial adviser to develop a retirement plan, 50% to produce a comprehensive financial plan for major life events and goals, and 20% rely on their adviser to make recommendations in the event of death, disability, critical illness or other risks.
As to how they would like to interact with their adviser, 70% say face to face, with nearly as many indicating speaking over the telephone. Only 5% want to communicate with their adviser via text messages, 2% over video chat, and less than 0.5% through social media or podcasts. Asked how their association with their financial adviser could be improved, 30% say more in-person interaction and 20% say regular electronic updates about their account.
Greenwald & Associates conducted the survey for John Hancock among 1,064 investors from May 11 to May 22. To qualify, respondents had to participate in their household’s financial decision-making process, have a household income of at least $75,000 and assets of $100,000 or more.