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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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Investors Have Increased Expectations for Advisors

Advisors need to know expectations investors have for them. 

Investors have increased their expectations on advisors, and a failure to meet expectations can lead to a change of advisor.

According to Spectrem’s Millionaire Corner research, 13 percent of investors with a net worth between $100,000 and $1 million Not Including Primary Residence are, at the least, somewhat likely to change their current advisor in the next 12 months.

Among these Mass Affluent investors, 28 percent of those under the age of 45 say they are likely to make the change in the next year.

There are several reasons investors change advisors, many of them having to do with communication. Investors are showing a greater demand for action from their advisors than last year.

For instance, 53 percent of Mass Affluent investors say an advisor who is not being proactive in contacting the client is asking to be dropped, and that is a major increase from the 44 percent of investors who said so last year. The No. 1 reason to change advisors is not returning phone calls in a timely manner, with 62 percent of investors agreeing in 2013 to 58 percent last year.

Forty-eight percent of investors say not returning emails in a timely manner is a reason to drop them, and only 42 percent agreed with that statement last year.

From a financial standpoint, 53 percent said not providing good ideas and advice would be a reason to change, and only 49 percent had that feeling last year.

Ninety-one percent said they expect their advisor to respond promptly to inquiries and questions.

Other top reasons to change an advisor include not understanding the client’s risk tolerance (29 percent), financial losses over the time period of five years (25 percent), and losses over two years (21 percent).

Fourteen percent of Mass Affluent investors could think of no reason to fire their financial advisor.