If You Have This Much Money, You Should Have a Financial Advisor

If You Have This Much Money, You Should Have a Financial Advisor

Patrick Villanova   Wed, January 5, 2022,

A couple meets with their financial advisor. A recent survey found that those with more than $1.2 million in household assets report significantly higher levels of happiness when working with a financial advisor compared to those without an advisor.

Money can’t buy happiness directly, but it seems like paying a financial advisor sure can help.

A new survey found people with more than $1.2 million in household assets report higher levels of happiness when working with a financial advisor compared to those who don’t have an advisor. The finding is part of Herbers & Company’s inaugural Consumer Financial Behaviors Study, which polled 1,000 consumers across the U.S.

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“As individuals move past $1.2 million of assets, those who work with financial advisors rapidly increase in happiness, while those without advisors rapidly become less happy,” wrote Sonya Lutter, the certified financial planner (CFP) and licensed therapist who authored the study.

Herbers & Company is a consultancy firm that specializes in helping independent financial advisory firms grow their businesses.

How Happiness is Measured

A recent survey found that those with more than $1.2 million in household assets report significantly higher levels of happiness when working with a financial advisor compared to those without an advisor.

A recent survey found that those with more than $1.2 million in household assets report significantly higher levels of happiness when working with a financial advisor compared to those without an advisor.

To quantify a respondent’s level of happiness, the survey presented each consumer with a list of 43 questions concerning his or her daily behaviors and interactions. The survey also pinpointed four core principles of happiness – fulfillment, intention, impact and gratefulness – and gauged how much respondents identify with each.

All participants in the survey have at least $250,000 in household assets.

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https://news.yahoo.com/much-money-financial-advisor-215030637.html