{"id":9353,"date":"2022-08-23T15:38:18","date_gmt":"2022-08-23T19:38:18","guid":{"rendered":"https:\/\/desis.osu.edu\/seniorthesis\/?p=9353"},"modified":"2022-08-25T15:17:18","modified_gmt":"2022-08-25T19:17:18","slug":"how-americans-feel-about-trusting-financial-advisors-and-fees","status":"publish","type":"post","link":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/2022\/08\/23\/how-americans-feel-about-trusting-financial-advisors-and-fees\/","title":{"rendered":"How Americans Feel About Trusting Financial Advisors and Fees"},"content":{"rendered":"\n<p>This &#8220;PERSONAL CAPITAL &#8211; 2017 FINANCIAL TRUST REPORT&#8221; brings up some discrepancies in financial understanding between <strong>genders<\/strong> and <strong>age groups<\/strong>. It focuses on confidence and trust in financial institutions.<\/p>\n\n\n\n<p><em>This is also a potential company for competitive analysis to circle back to.<\/em><\/p>\n\n\n\n<p><strong>How do Americans feel about financial advisors?<\/strong><\/p>\n\n\n\n<p>According to a Personal Capital survey, about 32 percent of Americans believe a financial adviser is likely to take advantage of them. The 54 percent of Americans who choose not to work with a financial adviser, just under half (45 percent) cite lack of trust as the reason they don&#8217;t. Those who do work with an advisor definitely do trust them, however.<\/p>\n\n\n\n<p><strong>Where are Americans getting financial advice? <\/strong><\/p>\n\n\n\n<p>The most trusted sources Americans turn to for financial advice include a financial advisor (38%), with a family member (31%) and a spouse or significant other (26%) following closely behind.<\/p>\n\n\n\n<p><strong>How are they thinking about fees?<\/strong><\/p>\n\n\n\n<p>They are not thinking about them. 60% of Americans are investors (have at least one investment account), and men are more likely to invest than women (66% of men vs. 55% of women). However, both male and female investors are unsure what they actually pay for their investment accounts. Women are twice as unaware. <\/p>\n\n\n\n<p>Younger adults are more than twice as likely as older adults to<br>believe that higher investment fees result in higher investment<br>returns (48% of those ages 18-44 vs. 21% of those ages 45+). (This is apparently just plain wrong).<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><a href=\"https:\/\/www.personalcapital.com\/assets\/email\/2017-Personal-Capital-Financial-Trust-Report.pdf?irclickid=z09zktwq8zg-WouwLs2l438BUkDUIdQX0RW9yQ0&amp;impact_partner=Skimbit%20Ltd.&amp;impact_partnerID=10078&amp;utm_source=Skimbit%20Ltd.&amp;utm_medium=affiliate&amp;irgwc=1\">https:\/\/www.personalcapital.com\/assets\/email\/2017-Personal-Capital-Financial-Trust-Report.pdf?irclickid=z09zktwq8zg-WouwLs2l438BUkDUIdQX0RW9yQ0&amp;impact_partner=Skimbit%20Ltd.&amp;impact_partnerID=10078&amp;utm_source=Skimbit%20Ltd.&amp;utm_medium=affiliate&amp;irgwc=1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This &#8220;PERSONAL CAPITAL &#8211; 2017 FINANCIAL TRUST REPORT&#8221; brings up some discrepancies in financial understanding between genders and age groups. It focuses on confidence and trust in financial institutions. This is also a potential company for competitive analysis to circle back to. How do Americans feel about financial advisors? According to a Personal Capital survey, [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":9361,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-9353","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-focus"},"_links":{"self":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/9353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/comments?post=9353"}],"version-history":[{"count":1,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/9353\/revisions"}],"predecessor-version":[{"id":9363,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/posts\/9353\/revisions\/9363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/media\/9361"}],"wp:attachment":[{"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/media?parent=9353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/categories?post=9353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/desis.osu.edu\/seniorthesis\/index.php\/wp-json\/wp\/v2\/tags?post=9353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}