Spooky, spooky advisors. According to a new online survey conducted by Harris Poll on behalf of independent financial advisory firm McAdam, nearly three-quarters (71 percent) of Americans say that some aspects of talking to a financial advisor scares them. The number spikes even higher when looking at just millennials, as 82 percent of those between the ages of 18 and 34 said they had advisor fears. Only 63 percent of those 45 and older said they were scared. Fears ranged from privacy issues to the costs. The survey included more than 2,000 U.S. adults.
While some investors may be afraid to talk to advisors, millionaires, by and large, are not among them. Most millionaires are happy with the work their financial advisors are doing for them, Spectrem Group's newest wealth segment study shows. The study reveals that at least three-fourths of households with a net worth between $1 million and $5 million use a financial advisor and three-fourths of those are satisfied with them. The level of satisfaction varies by occupation. For instance, 86 percent of senior corporate executives are satisfied with their advisors' service and responsiveness, compared with a 74 percent satisfaction rate from business owners. The ultra wealthy are even more satisfied; 86 percent saying they are happy with the work their financial advisor is doing.
The Financial Services Roundtable is giving away slices of pizza today in Washington D.C. to help remind investors to put a minimum of 10 percent of their income towards retirement. FSR is teaming up with DC Slices pizza truck from 11:00 a.m. to 2 p.m. in Franklin Square to hand out free slices of pizza to the first 100 people. The “Save 10” initiative, launched earlier this year, encourages investors to save for retirement and employers to provide those opportunities within the workplace. Almost early one-third of Americans have saved nothing for retirement, FSR reports.
There’s the naked cowboy, but what about the naked financial advisor? David Ellis, a 49-year-old financial advisor from Lowestoft, England, stripped naked recently to ride a rollercoaster at Adventure Island, a theme park near London, Yahoo News reports. But Ellis didn't do it just for the thrill. The event was part of an organized nude rollercoaster run for charity. Ellis was among 50 other people riding without their skivvies, raising £10,000 (about $15,000) for Southend Hospital Charitable Foundation’s Keyhole Cancer Appeal. “I don’t get self-conscious stripping off in front of so many people. It is a bit surreal but I think there’s a lot of camaraderie,” Ellis said.