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Main Street Investors Largely Manage Their Own Finances

Less than one-third of Main Street investors works regularly with a financial advisor, according to Millionaire Corner research, which explores why the client-advisor relationship may be breaking down.
Main Street Americans, those with investable assets of $100,000 up to $1 million, are most apt to describe themselves as “self-directed” or “event-driven” investors, according to a study on advisor relationships conducted by Millionaire Corner in the third quarter of 2011.
The self-directed (35 percent) manage their finances without any professional help, while the event-driven (34 percent) seek financial advice concerning certain life events, such as planning for retirement. Only 10 percent rely entirely on an advisor to make all their financial decisions and describe themselves advisor-dependent. Twenty-one percent consult with an advisor, but make their own decisions, and are considered to be advisor-assisted.

Excerpt – Article | Wed, 08/01/2012 – 16:36 | By Adriana Reyneri