This is a detailed academic study that establishes the relationship between various attributes of investors’ satisfaction with their financial advisors.
In particular it examines quality of technical advice, levels of trust in the advisor and perceptions of portfolio performance. It provides the data that establishes the INDEX which has a starting point of 75. Future studies will evaluate, over time, the movements in investor satisfaction with their financial advisors.
This study also identifies and establishes data on investor traits such as age of the investor, duration of taking financial advice and levels of investment. It identifies many other possible areas for future research including satisfaction with fees charged and ascertaining how investors judge approporiate performance.
The research sponsor, Lifeplan, will release various aspects of this study to the financial press.
The study was conducted by Associate Professor Chris Medlin and Dr Syed Ali and they will update this Index each six months until at least the end of 2009.