Reputation and qualification are the two most important factors investors consider while selecting an advisor, finds a recent study done by Principal Retirement Advisors.
The survey shows that 58% of people voted for reputation while 56% preferred qualification as the two most important criteria while choosing an advisor. Other preferred attributes were trustworthiness (50%) and experience (42%).
The survey corroborates the fact that investors are most likely to engage the services of advisors who are referred by friends and colleagues. The survey found that 85% of respondents select an advisor based on the references given by friends/family (43%), co-workers (16%) or through workplace (26%).
The study ‘The Principal Financial Well Being Index 2015’ was conducted by Nielsen on behalf of Principal Retirement Advisors across 11 cities - Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, Pune, Chandigarh, Lucknow and Jaipur during the last quarter of 2015. The total sample size was 1,491 respondents in the age group of 25-60 years.
