How the Pandemic Changed Investors’ NeedsAdvisor Perspectives
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The pandemic revolutionized financial behavior. During a period of immense uncertainty, many are turning to the advice of professionals to keep their finances on track.
Yet when it comes to investors – a crucial client base for many financial advisors – the pandemic has changed them as well. This change has altered the qualities and services investors look for in a financial advisor.
What do investors want to talk about?
Recent research from the Spectrem Group showed which topics investors want to talk about with their financial advisors.
Investments, unsurprisingly, took the #1 spot. But the other most popular choices are intriguing. Investments was closely trailed by topics such as, income generation during retirement and current economic events and their impact on my wealth. The least–popular topics included health-related issues, world events and insurance.
Is this new?
Of course, investments have always been a priority for affluent investors. Similar research from the Spectrem Group in 2017, however, revealed that even ultra-high-net-worth investors have concerns about supporting themselves financially during retirement or even the ability to retire at all. Interestingly, the desire of investors to discuss current economic events became more of a priority due to the pandemic.
Why is this important? Thinking from your target audience’s point of view is going to improve your marketing and advising strategies. It’s crucial to have an understanding of the questions prospects have before they ask you, so you can introduce your solutions from the get-go.
Read the full article here by Samantha Russell, Advisor Perspectives