BOSTON, July 20, 2015 /PRNewswire/ — Nearly 70 percent of investors say they act as partners with their financial advisors in exploring options and making final decisions regarding financial matters, according to a recent John Hancock survey, while one quarter say they accept what their advisor recommends for them. Many investors feel that listening and partnering pays off, as 34 percent report that the value of their investments has increased substantially due to their advisors’ recommendations.
The findings were drawn from the second quarter 2015 John Hancock Investor Sentiment Survey, a quarterly poll of affluent investors. The survey measures investors’ feelings about the current economic climate and their evaluations of what represents a good or bad investment given the current environment. The poll also asks consumers about their confidence in reaching key financial goals and likelihood of purchasing financial products and services.
Asked how they liked to interact with their financial advisor, the most popular choice was on a face-to-face basis (70 percent), while nearly as many indicated a desire for telephone contact. Very few cite text messaging (five percent), Skype/video chat (two percent), social media or podcasts (less than 0.5 percent) as their communication preference.
The survey found that investors primarily look to advisors for a plan to manage their investments (70 percent). Two-thirds work with an advisor to develop a retirement plan. Half of those surveyed said they look to their advisor to produce a comprehensive financial plan for major life events and goals. Only 20 percent of investors say their advisors made recommendations or a plan to deal with the risk of death, disability, critical illness or other risks.
When it comes to improving their experience with a financial advisor, 30 percent of investors say more in-person interaction would improve their experience. Nearly 20 percent say that regular electronic updates about the account are a good way to improve client experience.
About the John Hancock Investor Sentiment Survey
This online survey was conducted by independent research firm Greenwald & Associates. A total of 1,064 investors were surveyed from May 11th to May 22nd, 2015. To qualify, respondents were required to participate at least to some extent in their household’s financial decision-making process, have a household income of at least $75,000, and assets of $100,000 or more. The data were weighted by age and education to reflect the population of Americans matching the survey’s qualification requirements. In a similarly-sized random sample survey, the margin of error would be plus or minus 3.1 percentage points at the 95 percent confidence level. Due to rounding and missing categories, numbers presented may not always total to 100 percent.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management by Manulife and its subsidiaries were C$821 billion (US$648 billion) as at March 31, 2015. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
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SOURCE John Hancock Financial