Where your clients live could influence how they view advisors and investing, according to Randy Wostratzky, director of Spectrem Group, a consulting and research organization in Lake Forest, Ill.

Different attitudes prevail in various areas of the U.S., Wostratzky said regarding a Spectrem report released this summer called “Regional Influences on Investor Decisions.”

For instance, investors in the Midwest have the highest usage of advisors. Investors on the Pacific Coast are most concerned about the political climate of the nation, while terrorism worries investors in the Northeast, according to the data.

The information was compiled from more than 8,600 people across the U.S. with at least $100,000 in investable assets.

Some of the differences, such as the number of people who use advisors, may be due in part to the differences in the cost of housing. Investors in the Midwest spend less on housing than those on the coasts and have more to invest. Therefore, they may want to use advisors to help them manage their investments, Wostratzky says.

“Investors in other places, like the Pacific Coast, feel they can do a better job on their own,” he adds.

“Advisors can use this kind of information in the day-to-day management of their practices,” Wostratzky says. “If a client moves, it may change his or her perspective. These differences need to be talked about so advisors can see what part they can play in clients’ lives.”

Fifty-three percent of Pacific Coast investors who do not have an advisor say they can do a better job of investing than a professional, while half of Midwestern investors say they do not believe a financial advisor is looking out for their best interests.

“One of the most interesting responses from the regional perspective is how investors feel their wealth was created,” the report says. “For example, while 96% of Mountain West investors point to hard work, only 89% of Pacific Coast investors feel that way. Thirteen percent of Northeast investors point to family connections, compared to just 5% of Midwestern investors. Eighty-four percent of Midwestern investors point to frugality as a wealth creator compared to just 67% of investors from the Northeast, and 83% of investors from the South credit smart investing.”

Possibly because the Northeast includes several high-tax states, these investors are notably more worried about tax increases than the national average (69% of Northeasterners say they worry about it).

In addition to the political climate, 64% of investors on the Pacific Coast worry about climate change, while only 49% of Midwestern investors worry about it.

“Personal concerns run the gamut from the 53% of Mountain West investors who worry about maintaining their current financial position to the 43% of Northeast investors who worry about being able to retire when they want to,” the report says.

An overwhelming majority of investors from all regions are optimistic, but even here there are differences, the data says. Investors from the Midwest and the Mountain West are the most optimistic, with 87% expecting to have sufficient income to live comfortably through retirement. The figure is 80% of investors from the Northeast and Pacific Coast.

Additional information on the report can be found at spectrem.com/Content_Product/regional-impact-on-investors-bundle.