Financial Advisors Reduce Clients' Stress: Survey
Soothing abilities may be as important as technical skills, Million Dollar Round Table research finds.
One reason that people work with financial advisors: Peace of mind.
Million Dollar Round Table, a Park Ridge, Illinois-based group for successful advisors, sponsored an online survey of about 2,000 U.S. adults in March.
About 55% of the participants who had advisors said their advisors help them feel less stressed.
What it means: Some days, from the perspective of the clients, advisors’ soothing abilities may be as important as technical skills.
Soothing capacity: The ability to soothe may work better on women and older clients than on men and younger clients.
For men and participants ages 49 and younger, the percentage who endorsed advisors’ ability to reduce stress was 51%.
Meanwhile, 58% of the younger clients and 59% of the women surveyed said their advisors ease stress.
About 51% of the survey participants with advisors said their advisors ease stress when market volatility is high.
Family fights: Sales coaches often write about the role that advisors play in helping clients cope with conflicts with their relatives.
MDRT found that clients are not all thrilled with their advisors’ family unification abilities: Just 41% said they thought that their advisors could solve conflicts and communicate well, and only 27% said they thought that their advisors were aware of their emotions.
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