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Featured Advisor

Srbo Radisavljevic
Managing Principal/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, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Investors to Financial Advisors: Call Me Maybe

More than half of investors say they have not been contacted by their advisor since the election

| BY Donald Liebenson

Millionaire investors are the most likely to have been contacted by their financial advisor in the wake of the election, according to a survey of affluent households conducted by Millionaire Corner.

Thirty-seven percent of households with a net worth of more than $1 million surveyed said that their advisor had contacted them. In comparison, just 8 percent of households with a net worth under $100,000 had heard from their advisor, as have 20 percent of those with a net worth between $100,000 and $500,000 and 27 percent of those with between $500,000 and $1 million. But a majority of affluent households surveyed (56 percent) said they have had no contact with their financial advisor since President Obama’s re-election.

While 31 percent of investors overall said they have been contacted by their advisor since the election, just  20.5 percent said that they initiated contact with their financial advisor.

Among those who have been contacted by their financial advisor, what is he or she primarily telling them? More than half (52 percent) reported their advisor told them to “not make any rash decisions.” This is perhaps to soothe the concerns of those investors whose candidate did not win. In a survey conducted in September by Millionaire Corner, 44 percent said their biggest concern about the upcoming election was “a win for the other guy.”

The primary economic concern now is the looming fiscal cliff. Nearly two-thirds (62 percent) said they are not confident that a solution can be reached to avoid the tax cuts and mandatory spending cuts scheduled to take effect at the end of the year. In comparison, 47 percent said in September that they did not think an agreement would be reached.

It is important to just over half (51 percent) of Millionaires that their advisor contact them regularly. Forty percent said they prefer to be contacted on a quarterly basis, while one-quarter said they prefer to be contacted monthly. Younger Millionaires (under the age of 45) are the most likely to want to be contacted on a monthly basis, while younger boomers ages 45-54 for whom retirement planning or financing their child’s college education may be becoming  pressing concerns, are most likely to want to be contacted by their advisor semi-annually.

Less than 10 percent said they prefer to initiate contact.

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.