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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.

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Financial Advisors Focus on Personal Service to Build Investor Relationships

Investors most appreciate prompt response

| BY Donald Liebenson

“It’s business, it’s not personal, was a Corleone family mantra, but for investors working with financial advisors, the most productive working relationships are forged on the opposite approach, according to a new Millionaire Corner survey of affluent investors.

When asked what their advisor does to build their relationship, the most prevalent responses revolved around personal rather than investment issues. The highest percentage (82 percent) said that their advisor returns calls quickly, while nearly three-fourths (72 percent) said their financial advisor “makes time for me.”

Sixty-one percent said they most appreciate their financial advisor remembers details about their family and career, while 54 percent said they most appreciate their advisor touching base during big economic events, such as the stock market volatility.

The wealthier the household, the higher premium they put on financial knowledge, ongoing Millionaire Corner research finds, and a substantial majority of Millionaires turn to their financial advisor to help provide it. Three-fourths of Millionaires as well as investors with between $500,000 and $1 million said that the primary benefit of working with a financial advisor is that they improve their knowledge of investing.

In the new Millionaire Corner survey, 56 percent said that their advisor helps to build their working relationship by introducing them to new investment products tailored to their needs, while 36 percent said that their financial advisor makes a point of sending them interesting articles or information.

Impersonal service is the biggest pet peeve of Millionaire investors, according to a 2012 Millionaire Corner wealth level study of investor relationships with advisors. The highest percentage (58 percent) said that not having their phone calls returned in a timely manner could cause them to change financial advisors, topping even complaints by investors of not receiving good ideas and advice.

Forty-nine percent said they would be compelled to switch from an advisor that was not proactive in contacting them, while 44 percent do not look favorably on not having their emails promptly returned.

About the Author

Donald Liebenson

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.