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Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Getting to Know the Ethnic Investor

Ethnic investors are less likely to use financial advisors than non-ethnic investors, either because they don't want to pay the fees or they think they can do a better job investing.

| BY Kent McDill

Financial advisors often need to tailor their advice based on the investor’s age, gender, wealth level, 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 African-American, Hispanic and Asian backgrounds.

By way of introduction, here are some details the study discovered as it surveyed ethnic investors:

·         Ethnic investors are younger than investors outside of the ethnic groups, by a large margin. The average age of non-ethnic investors is 63 years (and more than half are over the age of 65), while the average age of the African-American investor is 57 and the average age of Hispanic and Asian investors is 54 years. Both Hispanic and Asian investor segments had 8 percent of its population between the ages of 18 and 35.

·         Almost 20 percent of African-Americans are professionals, and almost 20 percent of Hispanics are managers. The Asian investors have different occupations than those in the other two ethnic segments as 13 percent are in information technology and 9 percent are in health care.

·         Far fewer ethnic investors are retired than those in the general population, where 57 percent of investors are retired (this statistic also relates the age of the investors). Only 27 percent of Hispanic investors are retired; 35 percent of Asians and 41 percent of African-American investors are retired.

·         Hispanic (89 percent) and Asian (93 percent) investors are more likely to be college graduates than non-ethnic investors (85 percent) and African-American investors (80 percent). Twenty-three percent of Asians have either law degrees, medical degrees or Masters of Business degrees. Fourteen percent of Hispanics have Masters degrees.

Each of these personal background traits can play a role in an investor’s approach to investment decisions; the Spectrem report details these characteristics as well as other, more advisor-specific, background points.

  



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.