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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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You're Never Too Young to Call a Personal Financial Advisor

A near equal percentage of younger investors as their older cohorts are reaching out to their personal financial advisor for retirement planning.

| BY Donald Liebenson

Age is a factor in when younger and older investors reach out to a personal financial advisor, according to a February Millionaire Corner survey.

Personal financial advisors are most likely to hear from their younger clients in the case of initial life milestones. More than half of investors under 40, for example, will reach out to their advisor when they get married (or divorced), compared to 35 percent of Affluent investors overall who responded to the survey.

Similarly, More than two-thirds (68 percent) contacted their personal financial advisor upon the birth of their child compared with less than two-in-ten of older investors.

The economic collapse has put many life milestones on hold. One is buying a home, as evidence by our finding that nearly the same percentage of Millennials and Gen Xers (about 32 percent) said they would reach out to their personal financial advisor on the occasion of becoming homeowners.

Seeking consultation from a personal financial advisor about retirement planning would seem to be of greater interest to older investors, but a near equal percentage of investors under 40 (55 percent vs. 58 percent of boomers) said they would do so. This is an indication that younger investors who have come of age in the worst downtown since the Great Depression “get it” about building a foundation for a secure financial future.

Learn how Gen Xers are not slacking off when it comes to retirement planning

Areas in which age is not a factor in when investors reach out to their personal financial advisor are a death in the family, receiving an inheritance or setting up a philanthropic strategy.

But older investors are more likely to reach out to their personal financial advisor in the case of receiving a financial windfall, getting brought up to speed on changing estate and tax laws, and  swings in the market.

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

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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.