NU Online News Service, June 10, 2003, 10:22 a.m. EDT – More than half of investors are still happy with their financial advisors, despite the recent stock market turmoil, according to a survey released by Hartford Financial Services Group Inc., Hartford.
Researchers found that 56% of the 210 U.S. investors who participated in the survey were extremely or very satisfied with their current financial advisors. About half of the survey participants said they were unlikely to change advisors within the next six months.
The percentage of investors who said they seek professional financial advice has increased to 71% this year, from 52% when Hartford sponsored a similar survey three years ago, Hartford says.
But 47% of the participants said their portfolios were down more than 20%, and 8.1% said their portfolios were down more than 50%.
Forty-five percent of the survey participants were somewhat unsatisfied or not satisfied with the amount of communication from their primary financial advisors, and about one-third thought they should speak with their advisors more often.