Approximately 81% of 974 surveyed investors said that they expect their financial advisor to be able to explain the array of investment products on the market today (See InvestmentNews, “Clients: So many investment products, so little understanding”). “Advisers must stay on top of the latest investment products because many investors say they’re overwhelmed by investment choices and find many to be overly complex,” according to the article.
Other findings by the survey include:
- 33% of investors feel overwhelmed by investment choices.
- 40% said financial products are too complicated.
- 25% of all respondents said their need for financial advice has increased in the past 12 months.
- 34% of those aged 31 to 45, so-called Generation X, their need for financial advice has increased in the past 12 months.
- 45% of those who are younger than 31, known as Generation Y, acknowledged a greater need for professional advice.
Page Perry is an Atlanta-based law firm with over 170 years of collective experience maintaining integrity in the investment markets and protecting investor rights.