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6 consumers share what they want from a wealth advisor

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Are wealth advisors listening to their senior and boomer clients? What is it that consumers want their wealth advisors to know about their needs and wants? We reached out to six consumers to get their thoughts on their advisor and where a better connection can be made.

What do you want from your wealth advisor?


I’d love to get a million dollars. But in reality, I want my advisor to ask me more questions about what I want from my retirement. Don’t get me wrong pretty much everything he’s presented to me has worked. He helped me avoid losing money when the markets crashed and I’ll always be grateful for that. I would, though, like to discuss more of specifics about what I want to do with my money and how I can spend it or save it or disperse it. That never has been discussed in as much detail as I would like.

~Sara, 69, Dallas

That’s a good question. The first thing is to talk about how to keep my relatives from coming around to get my money. The big lottery is in the news right now and you would think I won the lottery. I’m well set up and I have money and these people come out of the woodwork. How do I know if they’re taking from me? That’s the first thing. We need a lock down on my assets.

~Johan, 77, San Diego

I want to know more about the global markets. I listen to the shows on TV and none of it makes sense as to how it affects me here in Memphis. I want (my advisor) to talk with me in normal, commonsense terms. No fancy financial words. Call it like it is and make the global market stuff make sense to me.

~Jerry, 74, Memphis


Straight talk. Too often when you talk with any type of sales person they talk in the lingo of their business. If you’re not in their line of business you miss a lot of what is being said. It makes me wonder, are you trying to slip something past me or do you not understand the information well enough to put it in layman’s terms?  That’s the ongoing question I have for advisors and for anyone who works in a specific business that might not be open to the public.

~Stan, 60, Denver

It would be nice to hear from my advisor as news happens. Sometimes, I feel like the only reason I hear from him is when he needs to make a sale. I realize this is a business. I really do. And he has done an amazing job with my assets. He got me out of debt and helped me downsize after the divorce. At the same time, I don’t want to always feel like a cash register. You know what I mean?

~Darrell, 59, San Antonio

Probably the same as most people. I want trust. That’s not to say we don’t have trust. We have a solid trust level. My advisor’s also a friend from college. So, I’m talking more in general when I say that. I’m in sales myself and I know how important trust is. If I didn’t trust the products I sell and have a strong trust factor with my clients I don’t think there’s anyway I could be successful. It’s about building trust and relationships and I’d like to see that embraced by all people in advisory practices and in sales in general.

~Scott, 57, Nashville

For more from Daniel Williams, see:

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