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