This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

(Graphic: Charles Schwab)

According to a new study from Schwab, seven in 10 affluent investors feel today’s financial markets are too complicated to navigate without an advisor. One-third of study participants also say their desire for investment advice has increased in the past year, and three-quarters say they are most confident making investment decisions when they collaborate with their investment professional; just one-third say they feel that same level of confidence when making investment decisions by themselves.

Advice and the Affluent Investor: A Study of Attitudes and Behavior by Charles Schwab (AAIS) surveyed more than 1,000 affluent Americans who receive some form of professional financial advice. Seventy percent of those surveyed work with a single advisor, and while on average their advisor handles 43 percent of their assets, nine in 10 want to work with an advisor who looks at their entire financial picture.

Trust and transparency are cornerstones of these relationships. Those surveyed trust individuals in the financial services industry (72 percent) more than financial services companies (42 percent), and 10 percent trust no one; an overwhelming majority want transparency around how their advisor is compensated for the advice they are providing (85 percent).

“Regardless of how much and how deep the advice, today’s affluent investors have one thing in common: they want a trusted expert on their side looking at the big picture on their behalf,” says Bernie Clark, executive vice president and head of Schwab Advisor Services.

As of May 31, Schwab’s suite of advice offerings for retail investors has grown to $139 billion assets under management from $114 billion the prior year. Additionally, as of March 31, Schwab custodied $895 billion in client assets for more than 7,000 independent Registered Investment Advisors (RIAs).

The study found that very few (11 percent) affluent investors see themselves as advanced investors; most label themselves as an intermediate (68 percent) and one in five (21 percent) describe themselves having beginner skills. Fully half of respondents see investing as a chore, and not an activity they particularly love or hate. Despite these tepid feelings, four in ten (41 percent) say they are much more involved in their investments in 2013 than they were in 2012.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs