What do affluent investors really want from their financial advisors? And why aren't they getting it?



    TORONTO, Dec. 5 /CNW/ - Interviews with more than 30 Canadian accountants
and lawyers who serve senior business executives and business owners (who
comprise many of today's affluent investors) confirm that many clients aren't
happy with their financial advisors.
    The reasons are explained in, "What are affluent investors missing from
their financial advisor? How can they get it?" a 2000-word article written by
Peter Watson, founder of Peter Watson Investments, a fee-for-service wealth
management firm located in Oakville.

    What's on the affluent investor's mind?

    Executives are looking for financial independence now and through
retirement, while business owners want effective retirement and business
succession planning. It appears many are not receiving what they seek most.
    Of the accountants and lawyers interviewed by Watson, 24% noted their
clients seek succession planning advice; and 22% of interviewees noted
retirement planning advice. Just 9% are concerned about portfolio asset
allocation.
    Accountants and lawyers working with affluent investors offer unique
insights into the challenges that investors and advisors face. "Given their
contact with both advisors and investors, who better to describe what affluent
clients really want from their financial advisors?" says Watson.
    Many advisors focus more on presenting their credentials and services
than determining their affluent clients' needs,
    Jarvis Sheridan, managing partner, O'Connor MacLeod Hanna LLP, says that
the quality of the relationship determines how well the advisor and client
work together. "The most compelling thing an advisor can say to a prospect is,
'I want to build a relationship with you and spend the time required to
understand your goals and your business.' Clients need to know that the
advisor is listening to their needs and making a real effort to understand
their business and personal goals," he says.
    Interviewees also said these affluent investors require tailor-made
investment strategies, one-stop shops with access to all of the necessary
professionals and teams of trusted and focused professionals who truly
understand both their investments and their lifestyle and can communicate
openly and effectively with them.





For further information:

For further information: Peter Watson, peter@peterwatsoninvestments.com,
(905) 842-2100

Organization Profile

PETER WATSON INVESTMENTS

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890