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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 7: Hispanics

Sixty percent of affluent Hispanic investors are still working.

| BY Kent McDill

The goal of Spectrem’s research into ethnic investors is to inform advisors the differences based on cultural background in the investment decisions of potential or current clients.

The report – Advisor Relationships and Changing Advice Requirements – concentrated on African-American, Hispanic and Asian investors and compared them to the general population of affluent investors.

Of the three ethnicities studied, affluent Hispanic investors have very unique and specific attitudes and demands towards advisors and investment decisions.

More than the other ethnicities, more affluent Hispanic investors are still working. Sixty percent are still fully employed, while 13 percent are in semi-retired. That is approximately 50 percent more than the non-ethnic community, which has 33 percent working and 10 percent semi-retired. Only 27 percent of affluent Hispanic investors are retired, compared to 57 percent of the general population of investors.

Spectrem research segments investors based on their frequency of advisor use, and 36 percent of Hispanics consider themselves to be self-directed investors, who do all of their investment decision-making on their own. Only 47 percent are event-driven, meaning they access advisors only in the case of specific and sizable investment events, such as retirement and estate planning.

Some of the reluctance to use advisors may come because of cost. Twenty-five percent of Hispanics cannot afford an advisor, compared to just 15 percent of non-ethnic investors. However, 30 percent of those said they would hire an advisor if they could do so at a reasonable cost.

Among affluent Hispanic investors who do use advisors, they are the most satisfied of the ethnic investor segments and approach the satisfaction level of non-ethnic investors. Sixty-seven percent of wealthy Hispanic investors report overall satisfaction with their advisor, 74 percent are satisfied with their advisor’s knowledge and expertise, and 79 percent are satisfied with the responsiveness to requests.

Hispanics are also more l likely to indicate their satisfaction has improved. Thirty-nine percent are more satisfied with their advisor now than they have been in the past.

Fifty-six percent of affluent Hispanic investors would recommend their advisor to others, a far greater percentage than the other ethnicities or the general population of investors.

However, Hispanic investors do have demands of their advisors beyond the demands of other investors. Eighty-nine percent expect prompt responses to contact for information, and 57 percent consider it important that their advisors call them regularly.



About the Author

Kent McDill

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 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.