How Investors in Different Jobs Choose Their Financial Advisors

Slideshow September 07, 2021 at 12:04 PM

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As part of its continuing research on advisor-client relationships, Spectrem Group recently addressed the question of how investor in different occupations value various traits in hiring a financial advisor. To find out, Spectrem fielded a survey in April to which 786 people responded, all of whom had net worth ranging from $100,000 to $25 million, not including their primary residence. Respondents came from a variety of professions: educators; professionals, including accountants, lawyers and doctors; information technology specialists; senior corporate executives and managers; and business owners. The results showed that some traits and characteristics of prospective advisors are important to all investors regardless of occupation — not surprisingly, honesty and trustworthiness. Other traits are much less important across all groups. In between, less agreement exists between investors on different career tracks about what is important in a financial advisor. Check out the gallery to see how investors in five occupations rank the traits of financial advisors they are looking to hire. — Related on ThinkAdvisor: