Schwab conducted a companion study released Wednesday, Advice and the Affluent Investor: A Study of Attitudes and Behavior. According to the study, an overwhelming majority (92 percent) of investors want an advisor who can look at their entire financial picture and they want transparency around how their advisors are compensated for the advice they are providing (85 percent).
“The independent model allows advisors to offer what investors want – collaboration, customization, transparency and accountability,” says Clark. “This invaluable combination sets RIAs apart from more conflicted models and positions them very competitively for success.”
Both surveys found a return of confidence in the economy. The surveys found that 59 percent of advisors and 65 percent of investors believe the S&P 500 is set to continue its rise over the next six months.
Despite their confidence, investors say they are discussing concerns about market volatility, interest rates, inflation and tax increases with their advisors. But advisors report that only one in five of their clients needs reassurance that they will meet their long-term financial goals, compared to one in three who needed reassurance at the beginning of 2012.