RSS Facebook Twitter LinkedIn

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.

Click to see the full profile

Share |

When Do Retired Investors Call a Personal Financial Advisor?

How does a personal financial advisor meet the diverse needs of retired and working Americans? Find out.

| BY Adriana Reyneri

Working and retired investors are looking for different types of help from a personal financial advisor, according to a February survey from Spectrem’s Millionaire Corner, and financial professionals appear to be sensitive to their varying needs.

A financial windfall – think lottery winnings- would prompt the largest share of both working and retired investors to reach out to their financial advisor, according to our research. That’s true for 64 percent of workers and 70 percent of retirees.

Retired investors appear more sensitive than those still in the workforce to changing tax laws, extreme market volatility and changing estate laws, while working Americans are much more concerned with planning for retirement. More than 60 percent of workers indicate they would reach out to a financial professional as they approach their retirement years.  

Click here to learn the five basic steps of retirement planning.

Advisors appear to be differentiating their services for their retired and working clients, though more than 60 percent of retirees and workers indicate that over the past 12 months their personal financial advisor has helped them reallocate assets held in their investment portfolios. Investors still in the workforce are more likely to report their advisor has helped them adjust their retirement plan in the last year, while retired investors are more likely to receive advice on harvesting investment gains, an introduction to new investment options or information on market conditions and economic trends.

Retirees also seem to appreciate the peace of mind they obtain from working with a personal financial advisor.

A personal financial advisor can also help retirees manage their wealth to produce income in retirement, and a significant share of older investors introduce their spouses and children to their financial advisor to discuss estate planning issues.

To learn more about selecting a personal financial advisor see our new Find an Advisor service.