Insightful Study Surveys Affluent
Advisor Today (10/00) Vol. 95, No. 10 p.24; Staples, Edward

A survey by New York polling firm Matthew Greenwald & Associates discovered that close to 90 percent of affluent individuals stay with their first financial adviser. Greenwald & Associates surveyed 805 people under the age of 60, with annual incomes exceeding $150,000. The survey reported, in part, on the financial-planning preferences among doctors, lawyers, senior executives, and high-tech employees. One of the main findings of the survey was that the first impression a financial planner makes to an affluent client is paramount. Secondly, apart from snagging clients immediately, advisers should demonstrate that they are successful at what they do--referrals were noted as being especially important. Eighty-three percent of those polled cited the importance of a financial planner's track record; 76 percent cited diversity as being key in investment options offered; 75 percent said they were seeking an adviser who was in-step with relevant developments; 73 percent are looking for someone to teach them about financial planning; and 66 percent cited certification as being important. Physicians and attorneys were found to be less inclined toward financial planning advice. The group most likely to be receptive toward financial planning was corporate executives.


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