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Written by 11:13 am Blog, Securities Fraud Articles

Accenture Survey: Clients, Financial Advisors Not on the Same Page

According to a new Accenture survey of 400 financial advisors and 1,000 investors in the United States, advisors are three times more likely to describe clients as “very knowledgeable” about investing than investors do themselves (42% vs. 12%, respectively).

According to reports, the study also indicated the following:  A

  • Only 1% of advisors describe their clients as “not knowledgeable” about investing, compared with 25% of investors who self-identify this way.
  • Advisors are more than twice as likely to see their clients as “aggressive” investors than investors see themselves (28% vs. 13%, respectively).
  • And 67% of advisors claim to have a “personal relationship” with their clients, whereas only 38% of clients view this relationship as “personal.”

These conclusions are consistent with what we see in hearings all of the time.  Financial advisors and investors often tell two completely different stories regarding the stated investment objectives and experience of the clients.

For more information on the Accenture survey, visit http://www.financial-planning.com/blogs/What-Advisors-Get-Wrong-About-Clients-2684094-1.html.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, please call The White Law Group at 312-238-9650.

Tags: , , , , Last modified: November 29, 2022