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Are investors more satisfied with their full service, fee-based financial advisors than investors working with other advisors?

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Summary

While past research has demonstrated the value of advisors to their clients, it is less clear how the different modes of compensation affect clients’ satisfaction with their financial professionals or whether they are more likely to have received formal plans to manage income, expenses, and assets in retirement. This report examines how established investor clients — individuals who are at least 50 years old with household investable assets of $100,000 or more — perceive their full service fee-based advisors, and how that compares to the ways in which other advisors are perceived.

Industry Issues

  • Investor satisfaction
  • Fee-based vs. commission-based advisors
  • Retirement planning

Methodology

SRI conducted an online survey of 6,200 Americans, fielded in the summer of 2020; results are based on 669 non-retired workers who are at least 50 years old, have household investable assets of $100,000 or more, and work with a financial professional to help make household financial and investment decisions.


Meet the Project Director


For more information, please contact DMaresca@limra.com.