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Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
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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Wealthy Investors to Financial Advisors: Information, Please!

One of the primary benefits wealthy investors say they receive in working with a financial advisor is broadening their scope of knowledge about financial products and investments.
 

| BY Donald Liebenson

With great wealth comes great confidence in one’s financial literacy, according to research Spectrem’s Millionaire Corner has conducted among Affluent investors. Four-in-ten Ultra High Net Worth investors with a net worth between $5 million and $24,9 million consider themselves very knowledgeable about financial products, compared with 22 percent of Millionaires.

As wealth level increases, so does the importance these investors place on financial knowledge. In a Millionaire Corner survey conducted last year, 88 percent of those with at least $1 million net worth said that financial knowledge was “extremely important” or “important” to them, compared with 82 percent of those with a net worth between $500,000 and $1 million and 74 percent of those with a net worth of less than $100,000.

One of the primary benefits wealthy investors say they receive in working with a financial advisor is broadening their scope of knowledge about financial products and investments.  On this score, UHNW investors are expressing more satisfaction with their advisors over the last few years. Eighty-two percent of respondents to the Millionaire Corner study said they were satisfied with their advisor’s knowledge and expertise, up from 76 percent in 2009.

The quest for information among wealthy investors seems to be aspirational. Among Millionaires with a net worth between $2 million and $2.9 million, for example, three-fourths feel there is much more and much better information available regarding investments than there has been in the past. This is four percentage points higher than those in the $3 million and $4.9 million bracket.

Similarly, 21 percent of Millionaires in the $2 million-$2.9 million bracket said they have recently subscribed to additional financial publications and/or websites, compared with 19 percent of Millionaires in the next net worth segment.

Even in this increasingly digital world, though, old school newsletters have a higher satisfaction rating than do blogs across all wealth levels.



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

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.