Investors who use advisors ex- press a higher degree of satisfaction and success. Specifically, investors who use advisors:
- Are more likely to have a financial plan (82 percent versus 51 percent of unadvised investors)
- Are more satisfied with their financial situation (78 percent versus 67 percent)
- Are more than 50 percent more likely (34 percent versus 22 percent) to say they’re doing a very good job managing their investments
- Have a better mix of investments (81 percent describe their mix of investments as good or better, versus 68 percent of unadvised investors)
- Are less likely to go more than 18 months without rebalancing (13 percent versus 20 percent)
Of the investors surveyed, 60 percent said they have a primary financial advisor. Men are significantly less likely than women to say they have a primary investment advisor—50 percent of male investors say they have a primary financial advisor versus 70 percent of women.