Survey: Clients Want Contact In Good Times And Bad
An advisors initial reaction to poorly performing investments might be to hide from worried clients. But it is precisely this behavior and not a volatile market that makes clients uneasy, according to a new survey by The Phoenix Companies Inc., Hartford, and Harris Interactive Inc., Rochester, N.Y.
In fact, many wealthy investors are happy with their financial advisors in spite of market volatility, the survey indicates.
According to Harriss Web-based survey of 1,649 wealthy investors, only 9% of the investors are very or extremely dissatisfied with their main advisors, or dissatisfied enough to plan to seek new advisors in the coming year.
Seventy-nine percent of the wealthy investors said they are happy with their main advisors.
Forty percent of those who said they were dissatisfied said they are unhappy because their advisors failed to make enough of an effort to communicate with them.
In a companion survey of high net worth advisors, many said they feel sure their clients are dissatisfied with them, says Walt Zultowski, senior vice president, marketing and market research, Phoenix.
“There is a gap in perception,” he says. “The advisors feel clients are more dissatisfied than they really are.”