A recent study shows that the current focus of specialization for financial advisors and planners may not be in line with the concerns and expressed needs of those looking to invest. According to a CFP Board survey, the majority of investors with over $100,000 to invest prefer a holistic approach and seek out an advisor with training and experience with comprehensive planning. These results conflict with a 2013 study by Cerulli Associates that showed that advisors that specialize are more successful in increasing investment assets than those that have a more generalized approach.
See Diana Britton, Investors Prefer Holistic Advice, CFP Board Says, Wealth Management, Dec. 4, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
