Bob Veres digs into our latest Consumer Report and Pulse of the Industry benchmarking survey to unpack how the data speaks to the challenges facing financial advisors as the industry emerges from the pandemic.
How Consumers’ Choices Differ
Among consumers with over $100,000 in income, “Who can I trust?” is the fundamental question all investors ask. That said, there are significant differences in who they ask this question to based on their wealth, age, gender and sources of wealth.
Why People Fire Advisors
Though most consumers have never worked with an advisor, the advisory industry has already managed to disappoint close to a quarter of its potential clients—those who’ve had an advisor, left and never come back.