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Asset Preservation Advisors


State: GA

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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Reasons to Consider Using a Financial Advisor

Non-Millionaires are largely self-directed investors, meaning they make all their own investment decisions.

| BY Donald Liebenson

What would most compel a Non-Millionaire investor to consider using a financial advisor? According to a new wealth level study conducted by Spectrem’s Millionaire Corner, self-directed investors are most likely to seek professional personal finance advice in the case of a change in their financial situation.

Roughly six-in-ten (59 percent) of respondents with a net worth of at least $100,000 (not including primary residence) would consider using a financial advisor in the case of receiving a financial windfall with which they need help investing. Twenty-eight percent would consider using a financial advisor if the price was right.

Seventeen percent—the third-highest percentage of respondents—would consult with a financial advisor for a specific purpose, such as preparing for retirement or creating a financial plan, while 13 percent would seek out an advisor should they tire of managing their investments.

One-third (32 percent) of non-Millionaires do enjoy investing and would not want to give it up, according to a previous wealth level study conducted by Millionaire Corner earlier this year. This enthusiasm is heightened among younger investors under the age of 45 (42 percent), who are also more confident than older investors that they could a better job of investing than an advisor (36 percent vs. 22 percent of respondents overall). More than one-third (36 percent) of respondents overall like to be actively involved in the day-to-day management of their investments.

About four-in-ten non-Millionaires are self-directed investors, meaning they make all of their own investment decisions. One-third is event-driven, and will consult a financial advisor for a specific purpose such as asset allotment, saving for college or retirement planning.

Across age groups,  non-Millionaires ages 35 and under are significantly more likely to consider using a financial advisor in the case of a specific need (56 percent vs. 17 percent overall), while early Gen Xers and Baby Boomers ages 45-64 are the most likely to consider using a financial advisor in the event of receiving a financial windfall.

Non-Millionaires at the highest end of the wealth level spectrum ($750K-$999K) are also most likely to seek out a financial advisor in case of a financial windfall (65 percent), whether the fees or commissions charged were considered reasonable (34 percent) or should they get tired of managing their investments.

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.