Demographic Variations in the Perception of the Investment Services Offered by Financial Advisors

Abstract

With varying levels of complexity, diversity, and differing needs among individuals’ investment situations, it can be challenging for Financial Advisors (FAs) to know how the investment services that they offer are perceived by prospective and existing clients. Utilizing data from the National Financial Capability Study (NFCS), this study examines the demographic perceptions of utilizing FAs for specific investment services. The findings, generally, show females, non-whites, higher levels of education and net worth are associated with valuing the investment services offered by FAs.