According to a new study from Schwab, seven in 10 affluent investors feel financial markets are too complicated to navigate without an advisor.

The report revealed that one-third of the study participants said their desire for investment advice has increased in the past year, and three-quarters said they are most confident making investment decisions when they collaborate with their investment professional; just one-third said they feel that same level of confidence when making investment decisions by themselves.

Majority of the respondents (72%) said they trust individuals in the financial services industry, while 42% said financial services companies and 10% said they trust no one.

An overwhelming majority (85%) said they want transparency around how their advisor is compensated for the advice they are providing.

Bernie Clark, head of Schwab Advisor Services, said: "Regardless of how much and how deep the advice, today’s affluent investors have one thing in common: they want a trusted expert on their side looking at the big picture on their behalf."

The study found that very few, 11%, affluent investors see themselves as advanced investors; 68% labelled themselves as an intermediate and 21% described themselves having beginner skills.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

As of 31 May 2013, Schwab’s suite of advice offerings for retail investors has grown to US$139 billion assets under management from US$114 billion the prior year.