1.
Advised investors | DIY investors
95% said they would still be working with their
current financial adviser in 5 years
• Typical investable assets: $500,000
• Average age: 54
• 54% male, 46% female
• 70% married
• 75.9% would prefer to access most or all of the
financial services they need online through their
financial adviser
73.5% said they would consider using a
financial adviser in the future
• Typical investable assets: $250K-$300K
• Average age: 49
• 56% male, 44% female
• 56% married
• 72% said they would consider working with a
financial adviser if they could deliver most or all of
the financial services they need online through
their financial adviser
n = 409 n = 453

2.
Need for holistic financial advice not waning
How investors who employ a financial adviser believe their need for financial
I will need more direct,
personalized and
professional advice
Don’t expect needs to change
I will not need any professional financial
advice, 1.9%
I will need less direct, personalized
and professional advice
advice will change over the next 5 years
32.0%
9.8%
54%
n = 369 (advised investors) Investors want personal relationships

3.
Characteristics investors value most in their adviser
Ability to translate personal needs into a strategy valued highest
7.4%
6.3%
10.0%
30.0%
6.3%
… by age
1.3%
30.0%
10.0%
5.1%
28.3%
7.4%
2.4%
32.7%
12.5%
Shared values, integrity and trust
Ability to translate my personal needs into
Listening skills
a strategy
Responsiveness/communication skills
Understanding of investment/financial
Objectivity
environment
Years of experience
45+ Under 45
10.0%
…by gender
2.1%
3.7%
7.8%
28.8%
8.7%
2.3%
29.2%
8.2%
4.2%
27.9%
5.8%
36.8%
16.8%
Shared values, integrity and trust
Ability to translate my personal needs into
Listening skills
a strategy
Responsiveness/communication skills
Understanding of investment/financial
Objectivity
environment
Years of experience
Female Male

4.
Future demand
for advisory
services
Investors: Which services will be most
valuable to you over the next five years?
n = 414 (advised investors)
Advisers: Which services will present
the largest growth opportunity over the
next five years?
23.2%
22.2%
23.1%
15.0%
14.7%
22.0%
18.4%
12.6%
11.8%
9.1%
11.6%
8.6%
1.8%
8.6%
25.4%
5.9%
18.8%
39.2%
48.5%
10.4%
19.8%
38.9%
Retirement income planning
Investment management
Estate planning
Retirement saving
Cash flow planning
Financial plan development
Brokerage
Bill payment
Investment consulting
Income tax planning
Insurance planning
Investors Advisers
n = 441

5.
Investors prefer full-service advisory firms
Investors: Which advisory firms do you prefer to work with?
Advisers: How many principals does your firm have?
10.1%
29.6%
48.7%
43.6%
n = 495
n = 372 (advised investors)
36.8%
19.6%
A solo practitioner / 1 principal An ‘ensemble’ firm / 2-10 principals A full-service advisory firm / 11+ principals
Investors Advisers

6.
Methods of client communication evolving
84.1%
76.1% 78.0%
3.6% 3.8%
8.2% 8.8%
63.7%
69.1% 68.1%
8.4%
31.5%
17.9%
4.8%
Telephone Email In-person
meetings
Text
message
Video
conference
Social media US Postal
Service
Advisers: What do you/will you rely on for direct,
personal communication with clients?
Currently In 5 years
79.5%
74.6%
61.1%
5.7%
0.8% 1.4%
13.2%
66.9%
78.8%
57.8%
10.5%
19.4%
2.7%
5.4%
Telephone Email In-person
meetings
Text
message
Video
conference
Social media US Postal
Service
Investors: What will you rely on for direct, personal
communication with your financial adviser in 5 years?
Currently In 5 years
n = 477 (advisers) n = 373 (advised investors)

7.
Investors increasingly favor mobile devices
• Investors own smartphones at a higher rate than any other
consumer electronic device
• Tablets owned at equal rate as desktop computers
• 76% of investors under 45 access financial information on
smartphone, vs. just 46% of those 45+
• 95% of investors under 45 own smartphone
22.1%
83.8%
Investor device usage
63.2% 63.1%
83.2%
7.1%
54.8%
43.3%
57.5%
72.3%
Cellphone (not a
smartphone)
Smartphone Tablet Desktop (PC) Laptop
Use regularly Use to access financial account information
Investor smartphone usage, by age
95.8% 94.4%
85.7%
78.2%
69.3%
82.5%
71.9%
56.4%
42.0%
35.8%
Under 35 35-44 45-54 55-64 65+
Use smartphone on a regular basis
Use smartphone to access financial account information
n = 988 (all investors)

8.
Female investors more active on social media
Social networks used for professional purposes, by gender
4.7%
6.5%
14.2%
21.0%
18.1%
26.1%
34.3%
82.3%
12.2%
11.3%
18.6%
26.9%
41.2%
80.1%
LinkedIn
Facebook
Twitter
Google+
Blogs
Pinterest
Instagram
Women Men

9.
Younger investors look to greater variety of
sources for investment & financial information
Among respondents who have a financial adviser
47.0%
n = 496 (advised investors)
16.0%
13.0%
50.0%
8.0%
18.0%
27.0%
41.4%
11.6%
9.6%
65.7%
1.3%
8.6%
36.9%
Financial newspapers or
new websites
Personal finance
websites
Financial television news
networks
Personal financial adviser Social networks Friends, family Financial institutions
(your bank, 401(k)
provider, brokerage firm)
Primary sources of investment and financial information, by age
Under 45 45+

10.
Investors over 45 more likely to pursue
interactions via their adviser’s website
62.7%
How do you use your adviser's website?
15.3%
13.6%
10.2%
39.0%
13.6%
23.7%
70.4%
8.8%
27.3%
45.8%
6.5%
15.3%
33.8%
Read my adviser’s blog, newsletters or financial planning updates
Update beneficiary information
Maintain a ‘vault’ with important papers and reports
Review all of my financial information in one place
Send messages to my adviser
Schedule meetings with my adviser
Look up my account value
45+ Under 45

11.
DIY investors
aren’t flocking
to robo-advisers
How DIY investors invest their
money, by age
• Only 6% use automated investment
service
• Overwhelming majority have a
retirement account, whether an IRA or
employer-sponsored.
• Online brokerage and bank savings
accounts popular instruments.
11.9%
12.4%
9.6%
6.2%
33.1%
29.8%
41.6%
62.4%
5.9%
15.4%
41.6%
38.1%
46.5%
59.1%
Through an employer sponsored retirement plan
Through an individual retirement account
Through an online brokerage
In bank deposit instruments
Through college savings plans
Through a self-employed plan
Through an automated investment service
45+ Under 45