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Featured Advisor

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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October 21, 2014 Millionaire Fact of the Day




October 21, 2014 Fact of the Day:  Younger $25 Million Plus Investors More Critical of Advisors



Did you now that older wealthy investors are generally more satisfied with their financial advisor than younger wealthy investors?  In fact, investors that have more than $25 Million in net worth and are over the age of 66 gave their financial advisors a satisfaction rating of more than 90 percents, while those under the age of 55 in the same wealth group only gave their advisors a 69 percent rating.

Why are younger investors less satisfied?  There are lots of reasons.

-Older investors sometimes have lower expectations because of the environment in which they first started using financial advisors.  Originally, brokers just traded stocks…..because online trading and other information about investments wasn’t easily available.  As access to information and financial transactions has become more easily available, the role of the financial advisor has become more holistic.  Younger households expect the financial advisor to be the investment expert…not just an individual who trades stocks.

-Younger investors are more likely to indicate their financial advisors aren’t responsive.  In today’s environment of mobile technology, they expect an answer to their email or text within a relatively short time period.  In contrast, older investors may be comfortable with a response the next day.

-Younger investors are more skeptical.  Their relationships with their financial advisor are not as long-term as they may be for older households.  It’s easier to change an advisor if you do not have an historical relationship with them….they haven’t been through numerous life experiences with you.

-Younger investors are also more likely to double-check information and do research on the internet than older investors.  This allows them to be more dubious than older investors about the recommendations their advisors are giving them.  Overall, younger investors are more likely to doubt the expertise of their financial advisor.

-Younger investors experienced the downturn of 2008 with their advisor…they probably haven’t been through as many market cycles and still have a somewhat leftover negative attitude toward their advisor because of that experience.  Their opinions regarding their advisor’s performance are lower than the opinions of older investors.

How do you feel about your advisor?  If you are thinking of changing advisors or looking for an advisor for the first time….check out our Best Advisors.