Trends Report

US Millionaires Use Multiple Channels To Interact With Their Financial Advisors

Satisfaction Rises With Range Of Channels Used — Not Just Contact Frequency

June 12th, 2009
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Bill Doyle, null
Bill Doyle
With contributors:
Benjamin Ensor , Courtney Tincher

Summary

Four in five US millionaires have financial advisors, and they use a variety of channels to communicate with them: three or more, on average, in the past year. Phone and in-person are the most widely used channels. But more than half of all advised affluent consumers use email, and two-thirds of younger millionaires use secure messaging on a Web site to interact with their advisors. Forrester found that the more channels a client uses to interact with his or her advisor, the higher his or her satisfaction is with that advisor.

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