Summary of Wealth Advisor Confidence Survey(tm) results. See what's keeping CPAs and wealth advisors up at night? Learn which thought leadership tactics they find most effective. For full report contact HBerkowitz@HBPubdev.com

1. Wealth Advisor Confidence Survey™
2017 – Executive Summary
A joint initiative of The Financial Awareness Foundation and
HB Publishing & Marketing Company, LLC
Preliminary results
October 5, 2017
Survey co‐authors
Valentino Sabuco, CFP®, AEP®
Executive Director & Publisher, The Financial Awareness Foundation
Hank Berkowitz, MBA, MA,
Principal, HB Publishing & Marketing Company LLC
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC

2. Wealth Advisors Remain Confident Despite Concerns about Market
Correction, Washington Turbulence and Trump Tax Plan
Less confident, however, about industry as a whole
Preliminary findings of the Wealth Advisors Confidence Survey™ (Fall 2017) indicate that independent
wealth advisors remain fairly confident about the future despite historically rich equity valuations and
deepening geo‐political turbulence domestically and abroad.
Executive Summary ‐ Industry Outlook
The survey, conducted by The Financial Awareness Foundation in association with HB Publishing &
Marketing Company, LLC finds that nearly four out of five respondents, (78%)* expect a stock market
correction of at least 10 percent within the next 12 months, although just one‐third of respondents
(31%) believe a recession is likely to occur over the same time period.
What’s more four out of five respondents (80%) expect their firms to grow over the next 12 months
(including 53% that expect their firms to grow by 10% or more). While three in four respondents (73%)
also expect their peers’ firms to grow over the next 12 months, just one in eight (12%) expect their
peers to grow by double digits over the same time period. In other words, advisors are four times as
likely to project double‐digit growth for their own firms as they are for their peer firms. This outcome
signals a possible “shrinking of the pie” for the advisory profession as a whole.
Outlook for the affluent
When it comes to factors chipping away at the confidence level of
affluent clients, the majority of respondents cite:
 Turbulence in Washington (69%)
 Doubts about the Trump tax plan (54%), and
 High value of the stock market (54%)
Just one‐third of respondents (33%) cite “Concerns about the federal budget”; just one in four (25%)
cite “Concerns about the Republican health plan” or the “Probability of an interest rate hike (25%).
Contrary to what is typically described in the mainstream media, no single age cohort or gender is
significantly more pessimistic about its financial future than any other. For instance:
 34% of respondents indicate that Boomers (age 53‐70) are the most pessimistic age group
 28% say Generation Y (age 36‐52) is the most pessimistic age cohort
 28% say Millennials (age 18‐35) are the most pessimistic age group
 75% of respondents believe there is no significant difference between men and women when
describing a pessimistic outlook about their financial future.
* SURVEY STILL ACTIVE,
ASSUME +/‐ 5% MARGIN OF
ERROR
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 2

3.
Client communication frequency and effective channels
One of the more important findings of this study is advisors’ increasing reliance on frequent client
communication. One‐third of respondents (33%) now say they are communicating with clients multiple
times per month, including 29% that indicate at least 2‐to‐5 touchpoints per month.
 Nearly three out of four respondents (72%) say Public Speaking & Presentations are “Very” or
“Extremely” effective for them.
 Two‐thirds (63%) indicate that Writing Articles for Publication is “Very” or “Extremely” effective
for them.
 More than half (55%) say Writing books or eBooks is “Very” or “Extremely” effective for them.
 Nearly half (47%) say Being Quoted in the Press is “Very” or “Extremely” effective for them.
 Two out of five (42%) say Hosting Client Events is “Very” or “Extremely” effective for them.
 And, 40% say Blogging is “Very” or “Extremely” effective for them.
 The vast majority of respondents, regardless of age, do not find mainstream social media
platforms to be “Very” or “Extremely” effective, although one in four (26%) indicate that
publishing articles on LinkedIn is “Very” or “Extremely” effective for them and 24% find that
hosting webinars is “Very” or “Extremely” effective for them.
About the respondents
Size of Firm
Sole practitioner *******************24%
2‐5 professionals on staff ********************25%
6‐10 prof’l on staff *********************** 27%
11‐50 prof’l on staff ********** 12%
Over 50 prof’l on staff ***********12%
 69% of respondents are CFP Wealth Advisor/Financial Advisors
 10% are Attorneys or CPAs
 21% are Insurance Professionals, Planned Giving Officers or other professionals
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 3

4. Services Offered (multiple response option)
Asset Management **************************************************75%
Retirement Planning ************************************************71%
Estate Planning *****************************************62%
Comprehensive Financial
Planning
***********************************56%
Tax Planning ******************************54%
Charitable Gifting/Legacy
Planning
************************44%
Multi Generational Planning *********************42%
Long Term Care Planning ***************25%
College Tuition Planning *********** 13%
Pension/Retirement Plan
Brokerage
********** 12%
Investment Brokerage *****8%
Brokerage of Employee Benefits ***6%
Multigenerational Brokerage **4%
Real Estate Planning/Brokerage **4%
Age Range
Age 39 and under ********** 12%
Age 40‐49 ************13%
Age 50‐59 *********************************************37%
Age 60‐69 **************************************29%
Age 70+ **10%
*Total may exceed 100% due rounding
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 4

5. Financial Upbringing (self reported)
Lower Income or Poverty ********8%
Working Class (non‐professional) **********10%
Middle Class ***********************************************42%
Upper Middle Class *******************************************38%
Highly Affluent *2%
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 5

6. About Us
The Financial Awareness Foundation
The Financial Awareness Foundation is a 501(c)(3) nonprofit organization; our mission is to significantly
help solve a major social problem dealing with the lack of financial awareness and financial literacy.
With so many people are on the verge of running out of money prematurely: many families are
burdened with large amounts of student loans and other forms of debt; more than half of our adults in
America (120 million – poor to wealthy) do not have an up‐to‐date estate, financial, and gift plans to
protect themselves and their families; we have a serious problem. This lack of financial awareness, along
with the financial illiteracy epidemic places a HUGE growing amount of pressure on families and friends,
employers, nonprofits; as well as the ultimate safety net the state and federal government. This is not
just a US epidemic it’s an international one.
To help solve this major social challenge, The Foundation serves as a nonpolitical “financial awareness
advocate” for the general public, the financial service and nonprofit professionals and their
organizations, educational institutions, municipalities, and employers.
The Financial Awareness Foundation
959 Golf Course Drive, #273, Rohnert Park, Sonoma County, CA 94928
707.586.8620
www.TheFinancialAwarenessFoundation.org
Valentino Sabuco, Executive Director & Publisher
v.sabuco@TheFinancialAwarenessFoundation.org
HB Publishing and Marketing Company, LLC
HB Publishing and Marketing Company is a hands‐on content marketing and business development firm.
Since 1991, we have been dedicated to helping financial professionals and related trade associations
optimize their thought leadership status, their profitability and their clarity of vision.
We are trusted on‐demand collaborators—an extra set of hands—to help wealth advisors, estate
planners, CPAs, insurance professionals and financial industry associations dramatically improve their
client communications, industry visibility, client retention and new client (or member) acquisition
efforts.
HB Publishing and Marketing Company, LLC
SoNo Corporate Center
50 Washington Street, 7th Floor
Norwalk, CT 06854
203‐852‐9200
http://hbpubdev.com/
Hank Berkowitz, Founder & President
hberkowitz@hbpubdev.com
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 6

7. Research Data: Survey Questions & Respondents Data
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 7

8. Q1 To what extent do you believe there will be a stock market correction
(at least 10% decline) within the next 12 months?
Not very likely
Somewhat
likely
Very likely
Other (please
specify)
0% 10% 20% 30% 40% 50%
12%
12%
12%
12%
12%
12%
12%
41%
41%
41%
41%
41%
41%
41%
37%
37%
37%
37%
37%
37%
37%
10%
10%
10%
10%
10%
10%
10%
Wealth Advisor Confidence Survey 2017-201
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 8

9. Q2 To what extent do you believe the economy will experience a
recession (at least 2 consecutive quarters of negative GDP) within the
next 12 months?
Not very likely
Somewhat likely
Very likely
0% 10% 20% 30% 40% 50% 60% 70% 80%
69%
69%
69%
69%
69%
69%
69%
27%
27%
27%
27%
27%
27%
27%
4%
4%
4%
4%
4%
4%
4%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 9

10. Q3 Last month, the Spectrum Millionaire Confidence Index fell to its
lowest level in 13 years. Which of the following factors do you think
contributed? (list all that apply)
Turbulence in
Washington, DC
Doubts about
Trump tax...
Long overdue
for stock...
Concerns about
the federal...
Concern about
the Republic...
Probability of
interest rat...
Other (please
specify)
Long overdue
for recession
Flattening
yield curve
0% 10% 20% 30% 40% 50% 60% 70% 80%
69%
69%
69%
69%
69%
69%
69%
54%
54%
54%
54%
54%
54%
54%
54%
54%
54%
54%
54%
54%
54%
33%
33%
33%
33%
33%
33%
33%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
25%
17%
17%
17%
17%
17%
17%
17%
15%
15%
15%
15%
15%
15%
15%
12%
12%
12%
12%
12%
12%
12%
Wealth Advurvey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 10

11. Q4 Which demographic group below do you find is most pessimistic
about its financial future? (select single best answer)
Boomers (age
53-70)
Generation Y
(age 36-52)
Millennials
(18-35)
Generation Z
(under age 18)
Great
generation (...
0% 10% 20% 30% 40%
34%
34%
34%
34%
34%
34%
34%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
28%
6%
6%
6%
6%
6%
6%
6%
4%
4%
4%
4%
4%
4%
4%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 11

12. Q5 Regarding your answer to the question above, do you find any gender
differences?
Men more
pessimistic ...
Women more
pessimistic ...
No significant
difference...
0% 10% 20% 30% 40% 50% 60% 70% 80%
14%
14%
14%
14%
14%
14%
14%
12%
12%
12%
12%
12%
12%
12%
75%
75%
75%
75%
75%
75%
75%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 12

13. Q6 Please describe the extent to which you expect your firm to grow (or
decline) over the next 12 months
Grow by more
than 10%
Grow by 6% to
10%
Grow by 1% to
5%
Stay the same
Decline by 1%
to 5%
Decline by 6%
to 10%
Decline by
more than 10%
0% 10% 20% 30% 40% 50% 60%
53%
53%
53%
53%
53%
53%
53%
20%
20%
20%
20%
20%
20%
20%
8%
8%
8%
8%
8%
8%
8%
18%
18%
18%
18%
18%
18%
18%
2%
2%
2%
2%
2%
2%
2%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 13

14. Q7 Please describe the extent to which you expect peer firms of
comparable size and client makeup to grow (or decline) over the next 12
months (select best single answer):
Grow by over
10%
Grow by 6% to
10%
Grow by 1% to
5%
Stay the same
Decline by 1%
to 5%
Decline by 6%
to 10%
Decline by
more than 10%
0% 10% 20% 30% 40%
12%
12%
12%
12%
12%
12%
12%
33%
33%
33%
33%
33%
33%
33%
29%
29%
29%
29%
29%
29%
29%
25%
25%
25%
25%
25%
25%
25%
2%
2%
2%
2%
2%
2%
2%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 14

15. Q8 To what extent are the following communication channels effective for
enhancing your status as a thought leader? (please select best answer
for each row)
Public
speaking/pre...
Writing
articles for...
Being quoted
in the press
Writing
books/eBooks
Hosting client
events
Blogging
Producing
videos
Posting
articles/upd...
Hosting
webinars
Tweeting (i.e.
Twitter)
Posting on
Facebook
Posting on
Instagram,...
0 1 2 3 4
2.78
2.78
2.78
2.78
2.78
2.78
2.78
2.55
2.55
2.55
2.55
2.55
2.55
2.55
2.27
2.27
2.27
2.27
2.27
2.27
2.27
2.22
2.22
2.22
2.22
2.22
2.22
2.22
2.14
2.14
2.14
2.14
2.14
2.14
2.14
2.12
2.12
2.12
2.12
2.12
2.12
2.12
1.94
1.94
1.94
1.94
1.94
1.94
1.94
1.84
1.84
1.84
1.84
1.84
1.84
1.84
1.61
1.61
1.61
1.61
1.61
1.61
1.61
1.29
1.29
1.29
1.29
1.29
1.29
1.29
1.24
1.24
1.24
1.24
1.24
1.24
1.24
0.96
0.96
0.96
0.96
0.96
0.96
0.96
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 15
72% Very or Highly Effective
63% Very or Highly Effective
47% Very or Highly Effective
55% Very or Highly Effective
42% Very or Highly Effective
40% Very or Highly Effective
35% Very or Highly Effective
26% Very or Highly Effective
24% Very or Highly Effective
8% Very or Highly Effective
10% Very or Highly Effective
6% Very or Highly Effective
LinkedIn
Ranked on scale of 1-4, with 4 being "Extremely Effective"

16. Q9 On average, how often would you say you contact your clients every
month? (select single best answer)
Less than once
per month
2-5 times per
month
6-10 times per
month
Over 10 times
per month
0% 10% 20% 30% 40% 50% 60% 70% 80%
67%
67%
67%
67%
67%
67%
67%
29%
29%
29%
29%
29%
29%
29%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 16

17. Q10 Which of the following best describes the size of your firm, practice
or business? (select single best answer)
Sole
practitioner
2-5
professional...
6-10
professional...
11-50
professional...
51 or more
professional...
0% 10% 20% 30% 40%
24%
24%
24%
24%
24%
24%
24%
25%
25%
25%
25%
25%
25%
25%
27%
27%
27%
27%
27%
27%
27%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 17

18. Q11 Which of the following best describes your business or profession?
(select single best answer)
CFP Wealth
Advisor/Fina...
Attorney
CPA/Accountant/
Tax Advisor
Insurance
Professionals
Planned Giving
Officer/Advisor
Business Owner
Other (please
specify)
0% 10% 20% 30% 40% 50% 60% 70% 80%
69%
69%
69%
69%
69%
69%
69%
6%
6%
6%
6%
6%
6%
6%
4%
4%
4%
4%
4%
4%
4%
2%
2%
2%
2%
2%
2%
2%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
12%
12%
12%
12%
12%
12%
12%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 18

19. Q12 Which of the following do you consider core offerings for your firm or
practice? (select up to 6 of your top services)
Asset
Management
Retirement
Planning
Estate Planning
Comprehensive
Financial...
Tax Planning
Charitable
Gift/Legacy...
Multi-Generatio
nal Planning
Long-Term Care
Planning
Insurance/Risk
Management...
College
Tuition...
Pension/Retirem
ent Plan...
Investment
Brokerage
Employee
Benefit...
Multi-Generatio
nal Brokerage
Real Estate
Planning/Bro...
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
75%
75%
75%
75%
75%
75%
75%
71%
71%
71%
71%
71%
71%
71%
62%
62%
62%
62%
62%
62%
62%
56%
56%
56%
56%
56%
56%
56%
54%
54%
54%
54%
54%
54%
54%
44%
44%
44%
44%
44%
44%
44%
42%
42%
42%
42%
42%
42%
42%
25%
25%
25%
25%
25%
25%
25%
23%
23%
23%
23%
23%
23%
23%
13%
13%
13%
13%
13%
13%
13%
12%
12%
12%
12%
12%
12%
12%
8%
8%
8%
8%
8%
8%
8%
6%
6%
6%
6%
6%
6%
6%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 19

20. Q13 Which of the following best describes your age? (select best answer)
Under 30
30-39
40-49
50-59
60-69
70+
0% 10% 20% 30% 40%
12%
12%
12%
12%
12%
12%
12%
13%
13%
13%
13%
13%
13%
13%
37%
37%
37%
37%
37%
37%
37%
29%
29%
29%
29%
29%
29%
29%
10%
10%
10%
10%
10%
10%
10%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 20

21. Q14 Which of the following best describes your family's financial status
growing up? (select single best answer)
Lower income,
or poverty...
Working class
(non-profess...
Middle class
Upper middle
class
Highly affluent
0% 10% 20% 30% 40% 50% 60%
8%
8%
8%
8%
8%
8%
8%
10%
10%
10%
10%
10%
10%
10%
42%
42%
42%
42%
42%
42%
42%
38%
38%
38%
38%
38%
38%
38%
2%
2%
2%
2%
2%
2%
2%
Wealth Advisor Confidence Survey 2017-2018
©2017 The Financial Awareness Foundation and HB Publishing & Marketing Company, LLC 21