Mass Affluent 2011, Volume 3 - Relationships with Advisors

Mass affluent investors are much less satisfied with their advisors than wealthier households, but the likelihood they will change advisors in the short term remains low. This report focuses on the relationship between the advisors and these investors who are primarily still working and who are somewhat frustrated by the economic environment. These investors are reluctant to turn complete control of their assets over to an advisor, yet still have significant advisory needs from the development of a plan for retirement to understand the need for long term care or other types of risk aversion. Younger investors are even less satisfied and therefore provide more opportunity for advisors.

 

This report, fielded with more than 1,000 Mass Affluent investors in the fall of 2011, will provide advisory firms with a roadmap of how to effectively service these clients.