WealthManagement Magazine

Financial Advisers Have Pull

Financial advisers are considered the most valuable sources of investment information by mutual fund investors.A survey of 2,000 mutual fund owners performed earlier this year by the Spectrem Group/PSI Global, a Tampa, Fla., market research firm found that 41% of shareholders said advisers were the most valuable sources of information, compared with the fund prospectus (17%), press articles (12%),

Financial advisers are considered the most valuable sources of investment information by mutual fund investors.

A survey of 2,000 mutual fund owners performed earlier this year by the Spectrem Group/PSI Global, a Tampa, Fla., market research firm found that 41% of shareholders said advisers were the most valuable sources of information, compared with the fund prospectus (17%), press articles (12%), friends or relatives (7%), on-line services (4%) and fund advertisements (1%).

Forty-six percent of fund owners also said they bought a fund on the recommendation of a financial adviser. Of this group, 40% had investable assets of $400,000 or more. Spectrem Group says an advisers

recommendation was three times more likely to drive a mutual fund purchase than research from other information sources.

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