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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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Retirees Say Working With an Advisor Has Emotional Payoff

Retirees value the peace of mind that can come from working with a financial advisor. Learn more.

| BY Adriana Reyneri

Peace of mind is one of the top benefits of working with a financial advisor, according to retirees surveyed in the Millionaire Corner monthly survey for October.

Retirees are more likely to work regularly with a financial advisor than working Americans, according to the survey, and they appear to place a greater value on the emotional payoff of the client-advisor relationship.

When asked to select advantages of working with a financial advisor, retirees were just as likely to cite the factor “gives me peace of mind” as they were “improves my investment returns.” Sixty percent of retirees identified these factors as benefits. More significant advantages perceived by retirees are “improves my knowledge of investing” and “provides me with a wider range of investment opportunities.” Seventy-one percent of retirees cited these factors as benefits of working with an advisor.

Like retirees, working Americans rank “improves my knowledge of investing” as the most significant advantage of working with an advisor (73 percent), but they ranked improved investment returns second (63 percent), wider range of investment opportunities third (59 percent) and peace of mind fourth (55 percent).

 Our research also indicates that retirees depend more heavily on financial professionals, and are less likely to perceive any disadvantages to the relationship. More than half (51 percent) works regularly with an advisor, compared to 33 percent of investors still in the work force. The majority of working Americans (53 percent) cite “higher fees” as a disadvantage of working with a financial advisor, and nearly one-fourth (24 percent) cite the “fear of being taken advantage of.”

Retirees are less sensitive to the fees they pay an advisor. Roughly 46 percent see compensation as a disadvantage of working with an advisor, and 18 percent indicate “the fear of being taken advantage of” is another disadvantage. Retirees are also less likely than working Americans to feel that constant sales pitches (10 percent vs. 17 percent, respectively) or complex statements (8 percent vs. 13 percent, respectively) are disadvantages to working with an advisor.