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Featured Advisor



Kim Butler
President

Partners for Prosperity, Inc.

City:Mt. Enterprise

State: TX



BIOGRAPHY:
I have 20+ years of handling alternative investments in cash, growth and income for clients nationwide.  I strive to help my clients with all things financial in every way possible over the phone and the web.  I own an alpaca farm which I enjoy working during my downtime.  I also enjoy gardening, writing and reading books.  I also train other advisors on Prosperity Economics.

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Business Owners Cite Advantages to Working with a Financial Advisor

Slow recovery and fiscal cliff test confidence in the economy

| BY Donald Liebenson

More than half (55 percent) of business owners surveyed by Millionaire Corner work with a financial advisor compared to 39 percent of Affluent investors overall. While almost half (49 percent) consider high fees to be a disadvantage to working with a financial advisor, this is more than compensated by several factors prized by small business owners, including financial literacy and peace of mind.

Eighty-seven percent of business owners—compared to 72 percent of Affluent investors overall—said they the primary advantage of working with a financial advisor is that it improves their knowledge of investing.

Almost three-quarters (71 percent) said that working with a financial advisor provides them with a wider range of investment opportunities, while nearly two-thirds (63 percent) said that working with a financial advisor improves their investment returns.

Fifty-eight percent believe that working with a financial advisor provides peace of mind, while 49 percent find an advantage in delegating responsibility to an expert. Less than half (41 percent) of business owners actually like to be actively involved in the day-to-day management of their investments, according to a separate study of Millionaire households, while slightly more (46 percent) said they enjoy investing and it is something they do not want to give up.

Business owners can use the peace of mind. According to a previous wealth level study of Millionaire households, more than seven-in-ten are concerned about a myriad of national economic issues, including the stagnant economic recovery, the partisan political environment, the national debt, and the election, a heightened concern for 62 percent.

Business owners’ economic concerns are exacerbated by the unresolved fiscal cliff, the tax cuts and mandatory spending cuts that will kick in at the end of the year should lawmakers not reach an agreement. Eighty percent of business owners surveyed by Millionaire Corner last month said this is the issue related to the election that worries them most.



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.