Clients are an advisor’s biggest competition
July 23, 2013 by Joyce Hanson
Advisors’ biggest competition comes not from other advisors but rather from their own clients’ human nature, which poses obstacles such as inertia, fear, overspending and under-saving, according to the results of a Principal Financial Group study released Monday.
Key findings in the Principal Financial Well Being Index show that for 80 percent of clients, their top financial dream is financial security in retirement, and for another 77 percent, the top dream is an overall sense of financial security. Good health, travel and living debt-free round out the top five financial dreams.
Yet advisors say that clients’ top financial blunders include living beyond their means, at 24 percent, and not saving enough, at 15 percent. Click here to read…