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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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The Ethnic Investor, Part 10: Financial Advice

A majority of affluent ethnic investors surveyed are not getting advice on alternative investments.

| BY Donald Liebenson

Financial advisors often need to tailor their advice based on the investor’s age, gender, wealth level, and occupation and advisor dependency. They also need to consider the investors’ ethnic background. Spectrem’s new study in its Ethnic Segmentation Series – “Advisor Relationships and Changing Advice Requirements” – examines the different ways ethnic investors relate to the advisor with whom they work. The study looks at investors of affluent African-American, Hispanic and Asian backgrounds.

Among affluent ethnic investors surveyed, Hispanics and Blacks express the most satisfaction with their financial advisors; affluent Asians, not as much. Three-fourths of surveyed Hispanics said they are satisfied with their advisor’s knowledge and expertise, compared with 63 percent of Blacks and 45 percent of Asians. What advice are these advisors giving their Affluent ethnic clients?

The highest percentage of Affluent Hispanics report that they are being told to invest in stocks (36 percent, followed by encouragement to plan for long-term health care (25 percent) and to find tax-free investments.

The highest percentage of Blacks (36 percent) reports being advised to find tax-free investments, followed by encouragement to plan for long-term health care (28 percent) and to invest in stocks (24 percent)

Affluent Asian investors are mostly being advised to invest in stocks (28 percent), bonds (26 percent) and to find tax-free investments (22 percent).

Affluent Blacks and Hispanics are more likely than their Asian cohorts to be encouraged by their financial advisor to invest more aggressively (16 percent each vs. 13 percent), while Asians are most likely to be receiving advice to develop a more conservative portfolio (32 percent vs. 22 percent of Blacks and 18 percent of Hispanics) as well as to invest in bonds.

A majority of affluent ethnic investors surveyed are not getting advice on alternative investments. Of those who are, Hispanics are the most likely to have received advice about commodities (24 percent), options (20 percent) and hedge funds (18 percent).

The highest percentage of ethnic investors who have been talked to by their advisor about private equity are Blacks (20 percent), while affluent Asians are most likely to have been talked to about REITs (21 percent) and limited partnerships (18 percent).

About the Author

Donald Liebenson

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.