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Asset Preservation Advisors




City:Atlanta

State: GA



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APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Millionaires Will Seek Advice for Long Term Care, Estate Plans

Millionaire Corner research indicates Millionaires need advice on long-term care and estate planning.

| BY Kent McDill

There will be a demand for  financial advisors to provide planning for long-term care and estate plans for Millionaire investors.  Spectrem’s Millionaire Corner released a study that shows while only about one-fourth of all Millionaires currently received information from their advisor on long-term care or estate planning, another 23 percent of Millionaires want to get that information from their advisor in the future.

 

 

Currently Receive This Advice

Plan to Seek This Advice in the Future

Don’t Need This Type of Advice

Diversifying assets away from a concentrated position

57%

11%

22%

Establishing an investment plan

56%

11%

21%

Selecting individual stocks and bonds

54%

8%

25%

Planning for retirement

50%

10%

27%

Implementing tax advantaged strategies

45%

17%

24%

Providing planning for long-term care

27%

23%

34%

Establishing an estate plan

23%

23%

28%

Selecting alternative investments such as hedge funds

20%

12%

62%

 

Approximately 30 percent of Millionaire investors say they don’t need that advice.

Among areas in which more Millionaires will be seeking guidance is implementing tax advantaged strategies. While 45 percent of Millionaires already get that advice, another 17 percent say they plan to request it. Twenty-four percent of Millionaires say they do not need tax strategies from their advisor.

The advice already provided to the greatest number of Millionaire investors is to diversify assets. Fifty-seven percent of Millionaire investors already get that advice and another 11 percent will be looking for advice on how to diversify from their financial advisors. Fifty-six percent already have an investment plan, and 54 percent already have advice on selected individual stocks and bonds.

Fifty percent of Millionaires already have advice on planning for retirement, while another 10 percent are ready to get that advice.

Services offered by advisors is one of the most important factors when an investor is looking to choose a new advisor. Eighty-six percent say “depth of products and services to meet the range of wealth management needs” is important in choosing an advisor. The three factors considered important by more investors are “individual is honest and trustworthy (95 percent)”, individual provides transparency and keeps me informed on what they are doing (92 percent)” and “investment track record of advisor (92 percent)”.

While 62 percent of Millionaire investors say they have no need for advice on selecting alternative investments such as hedge funds, 20 percent already have received that advice, and 12 percent plan to seek that advice. Twenty-six percent of Millionaire investors 44 years old and younger already have that advice, and another 24 percent (twice the average) plan to get advice on hedge funds and alternative investments in the near future.

 

 



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.