Why People Hire Financial Advisors
Why People Hire Financial Advisors
Researchers explore three ways to improve your practice.
Do investors hire their financial advisors to fill a specific financial need? Or do they consider other qualities? Our behavioral science team finds that emotions play a big role in choosing a financial advisor.
Morningstar conducted surveys with 3,003 investors to analyze the reasons behind hiring a financial advisor. By understanding why clients hire financial advisors, you can strengthen your firm’s value proposition with prospects.
Do investors hire their financial advisors to fill a specific financial need? Or do they consider other qualities? Our behavioral science team finds that emotions play a big role in choosing a financial advisor.
Morningstar conducted surveys with 3,003 investors to analyze the reasons behind hiring a financial advisor. By understanding why clients hire financial advisors, you can strengthen your firm’s value proposition with prospects.
Related content: Why Clients Fire Financial Advisors and How You Can Be the Exception
What's Inside our Research:
What's Inside our Research:
- Dive into the factors – both financial and emotional - that motivate a person to hire a financial advisor.
- Explore how people’s discomfort with handling financial issues impacts their hiring decisions.
- Discover how advisors can address the emotional drivers that clients don't always express.