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The Numbers Are In: Financial Advisors Deliver (And Are Finally Within Reach)

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Jan. 1, 2020

For decades, the advantage of enlisting a financial advisor has been an enigma.

Their precise ROI is actually mysterious by design – the government’s design. The advisors tasked with improving our odds in the stock market are legally prohibited from making such promises, or projecting specific gains. 

And so for generations, their appeal has been viewed in roughly the same tentative way: probably a good idea.

Now, researchers have assigned some clear numbers to the opaque field. Their discovery? People feel more at ease about their finances and could end up with about 15% more money to spend in retirement as a direct result of working with a financial advisor. Additionally, 79% of people who do use a financial advisor report confidence in achieving their retirement goals.*

The verdict is in: Americans will now flock to financial advisors in droves. Right?

If only the decision were that simple. Returns alone aren’t the only thing keeping Americans from enlisting professional help. Most have no idea where to begin or who to call. 

Such was the opportunity spotted by one eagle-eyed Princeton grad who recruited a team of talented developers to build a no-cost financial advisor matching tool.

The tool, hosted by SmartAsset.com, helps match everyday investors with up to three rigorously screened local fiduciary advisors poised to help.

The simple innovation is already making waves. Hundreds of thousands of future retirees have already used the intuitive platform, which was recently awarded a Webby Award for “Best User Experience.”

With $51 million in funding under its belt, SmartAsset is poised to bring some much-needed disruption to the world of individual investing. What Wall Street has in store for tomorrow is anyone’s guess. But two things are finally clear: financial advisors deliver, and finding one has never been easier.

Try Smart Asset’s Tool below for free. 

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SmartAsset AWARDS & ACCOLADES

SmartAsset is a personal finance technology company that features a financial advisor matching service. Financial Advisors who appear on SmartAsset are from companies with which SmartAsset receives compensation. SmartAsset takes into consideration wealth and location to determine how to match users with advisors. SmartAsset doesn't include the entire universe of Financial Advisors.

Sources:
1. Northwestern Mutual study
2. Value of a Gamma-Efficient Portfolio (2017), Morningstar Investment Management.
3. The Return on Advice (2016), Envestnet, Capital Sigma.
4. Value of a Financial Advisor Study (2017), Russell Investments.
5. Advisor Value (2014), Voya Retirement Research Institute.

6. Journal of Retirement Study