What Are Seniors Looking For in an Advisor?

  • Originally published August 2, 2010 , last updated January 12, 2016
What Are Seniors Looking For in an Advisor?

The Senior Market Advisor “Senior Survey,” released in July, offers many insights to help you better serve your clients and position yourself against the competition. We’ve summarized some of the key findings below.

Seniors overwhelmingly are looking for peace of mind over high returns. In fact, when asked what are you looking for in financial products?” 92% answered low risk, more peace of mind.

Similarly, seniors are looking for advisors they can trust. The financial meltdown has left them wary of financial institutions. When asked to rank the attributes they look for in an advisor, they answered trust, knowledge, loyalty and good listening skills.

They want a relationship. Nearly two-thirds of seniors with a financial advisor said they wanted their advisor to know them better.

Just over half (55%) said they are confident they will be able to meet their financial goals in retirement.

91% said that health is more important than wealth, but 68% also said they don’t want to discuss health care issues with their financial advisor.

What should you do now?
Winning your prospects’ trust is more difficult, yet more important than ever before. Simply pushing product is not going to cut it. You need to partner with an organization that has the marketing expertise and the tools to help you present your clients with solutions and knowledge rather than products. Senior Market Sales has two tools to help you do just that.

Check out our Social Security Timing® software.