There are some affluent investors who want their advisors to just answer questions, but there are some investors who want an array of financial planning from their financial professional.
Spectrem’s new report – Advisor Relationships and Changing Advice Requirements – details the information wealthy investors get from their advisors and the planning that is available to them.
In Spectrem’s segmented research, the wealthiest investors (Ultra High Net Worth) are those with a net worth between $5 million and $25 million. Among those, two-thirds report having an investment plan with their advisor, and 65 percent also get help from advisors in selecting stocks and bonds.
Such information is key to the ratings of advisors available on Spectrem’s Millionaire Corner website. Best Financial Advisors allows clients to rate advisors on four categories of service, including planning and advice.
For instance, of the more than 2,500 advisors rated on Best Financial Advisors, there are 175 advisors affiliated with Morgan Stanley. Their overall satisfaction rating is 4.44 and their rating for planning and advice is 4.37.
Advisors listed on Best Financial Advisors also get rated on responsiveness and knowledge and expertise.
To access the Best Financial Advisors ratings, click here, or on the yellow tab above. You can see all of the ratings or discover if your advisor is on the site. If your advisor is not listed, have them email Eric McDonald at firstname.lastname@example.org.