RSS Facebook Twitter LinkedIn

Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

Click to see the full profile

Share |

Even Smart Investors Need a Personal Financial Advisor

Investors who say they’re very knowledgeable would ask their personal financial advisor for help with changing tax laws. What other situations would prompt even the savviest to reach out?

| BY Adriana Reyneri

New research from Spectrem’s Millionaire Corner finds that even the savviest investors turn to a personal financial advisor for help with certain financial events. What situations would prompt self-described knowledgeable investors to reach out?

Investors who have a high opinion of their financial know-how are most likely to seek professional help  with strategies to address changing tax laws or cope with a financial windfall, according to our monthly survey for February. The majority would also contact their personal financial advisor for help adjusting to changing estate laws and extreme market volatility. Investors who describe themselves as very aggressive and willing to accept a high level of risk also see the need for help with these financial situations.

Risk, diversification and tax consequences are the top considerations of Millionaire Investors.

Retirement planning appears to be more of a concern for investors who describe themselves as having little or no financial knowledge. More than half say they would contact their personal financial advisor when they approached retirement.

Learn more about the retirement planning strategies preferred by aggressive vs. conservative investors.

The majority of both knowledgeable and not-so-knowledgeable investors report receiving assistance from their personal financial advisor in the past 12 months. Primarily, advisors have helped both groups reallocate their assets. Knowledgeable investors appear to have more contact with their advisors, overall, and commonly receive advice on new investment options and coping with changing tax laws. Investors professing little or no knowledge were more apt to get help adjusting their retirement plans.

Less knowledgeable investors are more likely than those who say they’re knowledgeable to involve their personal financial advisor in executing their estate, though knowledgeable investors are more likely to have an estate plan and update it regularly. The savvier group is also more likely to introduce their family members to their personal financial advisor in order to review their estate plans.

For information about selecting a financial professional see our new Find an Advisor service.