In the wake of the financial crisis, investors are trusting financial advisors more than banks, insurance companies, investment firms and the government, according to a Fidelity survey of more than 1,150 investors. “The same way we rely on attorneys and doctors, an increasing number of investors are looking for help managing their long-term financial future,” says Scott Couto, president of Fidelity Financial Adviser Solutions.
A third of investors surveyed said they had reached out to a financial advisor during the crisis, and a quarter said they rely on their advisor more than in the past. Of those investors who use a financial advisor, 90% ranked them as helpful during the crisis — above all other options.
Half of the respondents also said they’ve reduced their personal debt since the crisis.
