Issue link: https://resources.envestnet.com/i/1527494
A Financial Advisor: The Investor's Touchstone Maintaining confidence in times of market fluctuations and economic uncertainty can be difficult. During these times Affluent Americans say they turn to their financial advisor. In fact, the research revealed that Affluent Americans were 13% more likely to acknowledge the positive impact of an investment advisor, and 9% more likely to have less overall stress by having a financial advisor than the general population. Generations have differing perspectives regarding how having a financial advisor has helped them during recent fluctuations in the market. Affluent younger generations were significantly more likely than Affluent older generations, to say that: (1) their advisor helped them remain focused on the long-term, (2) having an advisor gave them peace of mind, (3) they have more confidence in their financial future, (4) they have more confidence in their financial advisor than before, and (5) were more likely to have opened an account with a new financial advisor. Affluent older generations were significantly more likely than Affluent younger generations to say that having a financial advisor helped during recent fluctuations in the market with (1) less overall stress and anxiety, and (2) they didn't lose as much sleep as they would have without a financial advisor. How has having a financial advisor helped during recent fluctuations in the market? My advisor helped me to remain focused on the long- term regardless of a tough investment environment Peace of mind Less overall stress and anxiety I have more confidence in my financial future I likely didn't lose as much money as I would have if I did not have a financial advisor I have more confidence in my financial advisor than I did before I didn't lose as much sleep as I would have if I did not have a financial advisor I opened an account with a new financial advisor, robo-advisor, or switched to another financial professional or investing platform because of the market fluctuations None of these Other, please specify Younger Millennials (25-35) Older Millennials (36-44) Gen X (45-56) Boomers (57-65) 49% 51% 47% 48% 39% 48% 43% 38% 38% 39% 46% 38% 41% 48% 29% 35% 30% 30% 21% 31% 36% 34% 20% 16% 22% 22% 24% 35% 26% 33% 11% 5% 3% 5% 4% 6% 1% 1% 0% 2% ©2023 Envestnet, Inc. and The Center for Generational Kinetics. All rights reserved. 15