Fistfull of Dollars 1 Americans want help with their finances but are not sure where to turn, a recent survey by Allianz Life suggests. When the company asked consumers which type of professional service provider they would most like to use in 2011, the largest portion (44 percent) chose a financial professional. The next most popular answer — a personal trainer — received only 26 percent of the vote. In spite of this, a smaller number (33 percent) said they are actually likely to follow through and develop a financial plan during the year. The most common reason given by those who would like help but won’t seek it is that they don’t believe they make enough money to work with an advisor.
Fortunately, this is often not the case. A recent survey of NAIFA members found that main street investors — those with household incomes of less than $100,000 — form a solid core of these advisors’ clients. In fact, 58 percent of NAIFA members’ clients fall into this income group and 77 percent have household incomes of $149,000 or less.
We certainly hope Americans at all income levels are able to find the financial help they want and deserve in 2011. A searchable database of qualified agents is available on the NAIFA website.