What Millionaires Really Think About Financial Advisors

Posted by adaniels in Blog on October 17, 2012

Millionaires need financial advisors, too. According to a survey by Millionaire Corner, 98 percent of those surveyed said that they are looking for an advisor who is “honest and trustworthy.”

One other thing that millionaires look for in a financial advisor is transparency. A total of 86 percent said that they want an advisor who doesn’t just provide transparency, but who keeps them informed.

In addition, 92% look at the track record of the advisor – how he or she has done over the years.  And 88% percent are concerned about the fees for services provided, and 86% would have a negative opinion of a company if they underwent a credit downgrade.

Also, 87% are looking for a variety of products, while 81% seek an advisor who works with a variety of companies.  And 72% are currently happy with their advisors, with those 55 and up having the most satisfaction with their financial advisors.

Written by Lisa Swan


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