The Value of the Advisor:
The Impact of Advisors on Financial Outcomes Among K-12 Educators
Some investors say they benefit from working with a professional financial advisor. But are there objective results that bear out these ‘good feelings?’
A new study by Zeldis Research and AXA Equitable helps quantify this impact with a comparison of savings, behaviors and confidence levels of 403(b) plan participants who work with a professional to those who do not.
Measurable benefits for the participants (largely public school teachers) included higher account balances, more confidence in their investment knowledge, higher and more frequent contributions, deeper engagement in management of their investments, and greater satisfaction with their plan and its performance.
The study has broad implications for 403(b) providers (only 12% of survey respondents were AXA accountholders.)