Two news stories today from Financial Advisor Magazine may suggest different sorts of worries for financial advisers and for those who may come to them for advice.
For people with retirement plans, a survey in May by the Spectrem Group found a lack of confidence in their financial future. Only 31 percent believed they had a sound retirement policy.
For financial advisers, a survey of 800 of them found that the biggest concern for 83 percent was obtaining "better" clients who more closely fit the adviser's products and services. Of almost equal concern to these independent advisers was improving efficiency, building value in their practices, and (finally!) offering value-added services.
Now, juxtaposing these two surveys in this way may be a bit of a cheap shot. The studies aimed to learn different things from different groups, and no doubt many financial advisers truly wish to help people develop a sound retirement plan, not simply to find better customers.
But be careful, dear readers. I've previously written (subscription required) about what sort of financial adviser to look for, at least with regard to fee structure, if you truly need outside help.