Adviser Survey: What clients value from their adviser

By Ravi Samalad |  13-08-19 | 
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About the Author
Ravi Samalad is Assistant Manager - Editoral for

From acting as a behavioral coach, preparing their financial plans, monitoring it to ultimately help them achieve their goals, advisers perform multiple roles while dealing with clients.  But do investors see value in the services you provide? Which skills add the most value to investors?

Morningstar’s behavioral science team conducted a survey among investors and advisers in US. The survey found significant gaps in terms of what investors look for in a financial adviser and what advisers think investors value the most. Research suggests that cognitive biases and other behavioral obstacles often inhibit investors from making sound financial decisions, especially when their emotions are running high. Yet, investors ranked “helps me stay in control of my emotions” and “acts as a coach/mentor to keep me on track” at the bottom: 15th and 13th, respectively. Advisers ranked those two points considerably higher, at seventh and 11th. One clear lesson from this research is that investors and advisers aren’t necessarily on the same page. Investors and advisers normally talk about the client’s goals and investment strategy. But if an investor only cares about maximizing her returns, there may be misalignment.

At Morningstar, we are conducting an experiment to identify the difference between what advisers think their client’s value from their financial advisers, and what clients actually value from their advisers.  We are conducting this survey among Indian advisers and investors. To aid us in this cause, please fill out this survey. The insights from this survey will allow you to dive into your clients’ wants and needs and may even help you identify ways in which you can improve your practice.

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