Investors who work with advisors have more confidence in their decisions and are less prone to acting out of emotion, according to a new survey by Janus Henderson Investors.

“Keeping emotions in check is critical to staying on track to long-term investing goals," Matt Sommer, head of the specialist consulting group at Janus Henderson Investor, said in a survey report released earlier this month.

The report added that, "Advised clients were also less likely to make investing mistakes due to emotions."

Having a financial advisor gives clients confidence in their decision-making and keeps them from acting on bad emotions, Sommer said in the report. A full 98% of investors with an advisor reported being very or somewhat satisfied with the quality of the relationship.

“We look at it as the difference between the ‘financial plan’ and ‘financial planning’,” Sommer said in an interview. A financial plan is a document that encompasses the investments, investment goals and life plans of the client, but financial planning involves much more of the client’s life, he explained.

According to the survey of 1,000 mass affluent and high-net-worth investors, “having a financial advisor is statistically associated with a higher level of confidence compared to not working with advisors.”

Confidence is the crucial investor trait that differentiates investors who stick to their financial plans from those who succumb to the emotional inclination to buy high and sell low, Somer said.

Three-quarters of respondents who had an advisor said they never made investment decisions based on their emotions, which “highlights the significant role advisors play in mitigating emotional biases,” he said in the survey.

“Seventy percent of respondents reported having a financial advisor and, among this group, 98% reported being very or somewhat satisfied with the quality of the relationship. That is amazing,” Sommer said. “Something else that is outstanding is that 86% (of respondents) said they are interested in broadening their financial literacy—they want to learn more.”

Advisors should take advantage of this by honing their message to emphasize what else they do in addition to providing investment advice, he added. For instance, they should help clients understand how such things as inflation and compounding affect their goals and why diversification is important.

Phrases such as “provide peace of mind” and “reduce stress and worry” should be included in any mission statements or marketing to prospective and current clients, he said. “These phrases will resonate with what many investors are really shopping for in a financial advisor: a coach, mentor or confidant to help them maximize their overall well-being.”

Janus Henderson Investors is a global asset management investment group headquartered in London.