Consumers Turning to Planners

May 2002
Journal of Financial Planning;May2002, Vol. 15 Issue 5, p21
Academic Journal
This article provides information on a 2002 consumer survey of upper-income individuals by the Certified Financial Planner Board of Standards in the U.S. The survey, which updates a 1999 survey, found that 37 percent of individuals earning income of $60,000 or higher have consulted a financial planner, versus 32 percent in 1999. At the same time, those who serve as their own adviser decline from 48 percent to 45 percent. Those who use a financial planner as their primary financial advisor also increased, from 19 percent in 1999 to 22 percent in 2002. The survey also found that an advisor's credentials such as a degree, experience and professional accreditation is more important in the past when looking for an advisor.


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