Clients reveal why they picked their advisors

Three-quarters of business owners surveyed by Manulife say they picked their advisors because they trusted them to act in their best interests.

That rationale outstripped the 28% of people who said they looked at their potential advisor’s professional designations before working with them.

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Referrals are a factor for business owners, though not as much of a deal-breaker as qualifications or trust. It was the number one factor for 24% of those surveyed.

Other driving considerations for choosing an advisor were years of experience (23%) reputation of the advisor’s organization (22%), specialized expertise in a product or service (19%), offered products from well-known institutions (15%), offered a wide range of products or services (15%) and well known in the client’s community (8%).

For more insight on how business owners choose their advisors, read Manulife’s Small Business Research Report.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.