Clients re-evaluating Financial Advisors

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Jun 17, 2009 2:04 pm

The sentiment in this article is not new, but does continue to beg the question...am I in the right place doing the best thing I can to gain business?

<h1 ="entry-title">Frustrated by Losses, Americans Re-Assess Advisors</h1> <h2 ="entry-subtitle"><em></em></h2> <div ="author">By Donna Mitchell</div> <div ="published-date"><abbr ="published">June 17, 2009</abbr></div> <div ="entry-"> <div id="verticalspacer">¦</div>Ninety percent of

American investors are frustrated about financial losses in the past
year, according to “Make the Move,” a survey by the Charles Schwab
Corp. released today. That’s no surprise, but this is: Instead of
blaming their financial advisors entirely for their situation, the
respondents to this online survey say they are dealing with their
losses by adopting more disciplined money management routines for the
year ahead.

A majority of participants in survey, 76%, say they are only
somewhat confident that they receive sound guidance from their
investment professionals. And they are willing to cut and run: 25% of
respondents are considering changing financial services firms or
advisors. Thirty-two percent of investors want better fee structures;
32% desire better advice and 29% want more proactive contact from their
advisors.


 “Investors are seeking a genuine partner they can trust to help
them plan for the long term,” said Andy Gill, a senior vice president
at Charles Schwab. “They are understandably frustrated by the last year
and have responded by expecting more from the experts they turn to for
guidance.”


They also expect more from themselves, according to the survey,
which was conducted from June 4 to June 8. Fifty-one percent of
investors said they now review their finances at lease once a day, up
from the 27% who kept up that routine in 2008. Forty-six percent say
they pay closer attention to how much money they have invested or
saved; 45% have set stricter budgets for themselves or their
households; 38% pay closer attention to financial market movements and
23% say they will keep closer tabs on their financial services
providers.


As for why investors might leave their current financial services
provider, 48% say they questioned the firm’s financial stability.
Forty-seven percent of respondents might consider a move because of the
cost of services, and 42% of participants would leave because of the
performance of their investments.

</div> </div><br>
Aug 25, 2009 1:28 am

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Sep 16, 2009 12:42 am

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Sep 16, 2009 7:50 am

Really?!?!  They do?  Sign me up!  Thanks to affluent and Nathan for their timely advice!

Sep 18, 2009 7:31 pm

That article misses the target IMHO.



No one had a clue on the severity on the drop, and equally the rise back. The only discipline is sticking with the strategy since a majority of all equity funds suffered the same fate.



As far as checking their portfolio once a day, that is inherently dangerous. This is a dangerous step toward a "day trading" mentality, and that is the last thing clients need to do. Imagine another 10% drop, and 10% rise. Clients with a longer term strategy would be largely ignore that move. I can't say the same for daily stat checkers.



Watching the financial news channels is no better than pulling the one arm bandit at Vegas.

Sep 19, 2009 10:06 pm

I'm looking for no BS resources for Financial Advisors.  Can Gentle Rain Affluent Marketing provide me with this valuable necessity?

Sep 22, 2009 1:39 pm

Yeah, I'm looking for some "worthful" information! I think some tool in a mudhut would be the perfect place to get it!

Oct 24, 2009 2:47 am

That was a nice post. Thanks for all who have posted in this forum. It seems to be  very informative one. I knew a good site http://www.gentlerainaffluentmarketing.com/ who provide a good advise and many tips for the financial advisors and to their clients. They provide a good personal coaching along with the video and they provide good marketing tips and the tricks and secrets of marketing business. They guide their clients in a better way.

Oct 26, 2009 10:23 am
micheal078:

That was a nice post. Thanks for all who have posted in this forum. It seems to be  very informative one. I knew a good site http://www.gentlerainaffluentmarketing.com/ who provide a good advise and many tips for the financial advisors and to their clients. They provide a good personal coaching along with the video and they provide good marketing tips and the tricks and secrets of marketing business. They guide their clients in a better way.




Go$damit, he made me look.

Oct 28, 2009 10:38 pm
KensLoveChild:
micheal078:

That was a nice post. Thanks for all who have posted in this forum. It seems to be very informative one. I knew a good site http://www.gentlerainaffluentmarketing.com/ who provide a good advise and many tips for the financial advisors and to their clients. They provide a good personal coaching along with the video and they provide good marketing tips and the tricks and secrets of marketing business. They guide their clients in a better way.

Go$damit, he made me look.





it is a malware site.     who the fukc are you d-bag. is that what you do assw*pe? spread virus sites? ill send you a personal message you c***s*cker and try to turn your slime bag ass in

Oct 29, 2009 10:34 am

Shania Twain:

Thank for the heads up. I would have clicked on the link to check out the site if you had not told us that it is a malware site
JackBlack