The results of the survey reveal that 65% of the respondent investors which use a financial advisor are knowledgeable regarding the amount of capital that they will withdraw on an annual basis from their retirement funds. Comparatively, out of the respondent investors which have never used a financial advisor, only 24% are aware of how much they will withdraw annually, while 33% of the respondents from the same group have stated that they have no idea on how to access and take advantage of multiple source of retirement income.
As a general theme more than half of the respondents (54%) have replied that they would be willing to enlist the services of a financial advisor or replace the one that they are currently working with in case a new advisor would have a better refined retirement income plan.
"Contrary to what we were expecting a large number of investors are not consulting with an advisor on financial matters, generally because they believe that they cannot afford one or consider that there is no need to" said Alexander Wong Voth, Chief Financial Officer of Voth Nixon Group. "The reality is that at one point most of these investors will retire and due to their current way of thinking they are most probably missing out on an important opportunity to secure a comfortable retirement lifestyle. Enlisting the services of a financial specialist and discussing future plans and strategies for retirement has been proven to be a step forward towards ensuring the success of an optimized retirement plan".
Other findings of the survey show that out of the respondents which are not using an advisor 37% believe that they cannot afford the expenses associated with such a service while 29% have stated that they prefer doing the planning themselves. 46% of the surveyed individuals which are using an advisor have stated that they are confident their savings will be the primary source of income during retirement while only 21% of the investors which do not work with an advisor have replied similarly.
About Voth Nixon Group
Voth Nixon Group is a global asset administration group, managing capital for both institutional and retail investors across the world. Our aim is to provide solid fund performance across various asset types in which we know we have a viable competitive edge. At Voth Nixon Group your goals are important to us. We understand the financial challenges that make it difficult to achieve your targets, and we’re qualified to provide the assistance you need. We believe your financial progress, regardless of your present situation or economic condition is achievable.
Address: International Commerce Center (ICC Tower), 1 Austin Road, West Kowloon, Tsim Sha Tsui, Hong Kong