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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

State: IL



BIOGRAPHY:
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, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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How Loyal are Millionaire Investors to their Financial Advisors?

Millionaire investors are nearly split on whether they would follow their advisor to another firm, according to a new study conducted by Spectrem's Millionaire Corner.

| BY Donald Liebenson

Millionaires are more satisfied with their financial advisors, but are they loyal?

Nearly two-thirds of investors with a net worth between $1 million and $4.9 million report overall satisfaction with their financial advisor, according to a new wealth level study conducted by Spectrem’s Millionaire Corner. This is up from 70 percent in 2009. They are more impressed this year in their advisors’ knowledge and expertise as well as recommendations and advice given during the recession (communication, though, not so much; 79 percent said they are satisfied with their advisors’ responsiveness to requests, down from 82 percent four years ago).

But Millionaire investors are nearly split on whether they would follow their advisor to another firm, the Millionaire Corner study finds. Fifty-three percent said they would move with their advisor because the relationship is more important to them than firm for which they work. Forty-seven percent said they would stay with the firm because the brand name and perceived safety of working with an established company is more important than their relationship with an advisor.

Nearly-two thirds of Millionaire respondents cited this as the reason why they would opt for their financial services firm over their advisor, while 25 percent said that following their advisor to another firm would be “too much of a hassle.” The latter is a heightened bugaboo for those ages 45-54 (39 percent).

Not surprisingly, seniors over the age of 65 are the most loyal clients. They tend to have the longest relationships with their financial advisors. One-fourth of seniors, the highest percentage, said they have been with their advisor at least 15 years, compared with 20 percent of Millionaire respondents.

Fifty-four percent said they would follow their advisor to another firm, compared with 47 percent of investors between the ages of 45-54 and 50 percent of investors under the age of 45. The youngest Millionaires were most likely (70 percent) to give priority to the financial firm’s brand name and perceived safety over the advisor relationship.

This is consistent with national studies that have found that young consumers, aided by mobile technology that allows them to instantly research products, opt for the best deal over brand loyalty.



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.