The 2009 Fidelity Millionaire Outlook survey reveals three critical roles that advisors played during the recent financial crisis. According to their clients, advisors acted as: Guides to Future Opportunities. (role #3)
Advisors are guides to future opportunities. A greater optimism may be one of the reasons that millionaires who use advisors are more bullish on equities: 33% of millionaires with advisors plan to increase their exposure to stocks in the next year, versus 28% of millionaires without advisors. Millionaires who work with advisors are also twice as likely to see opportunities in alternative investments in the next 12 months. And while the vast majority of millionaires expect higher taxes within five years, millionaires who work with advisors are more prone to take action now to minimize future taxes. 17% of millionaires who use advisors plan to start/increase contributions to a trust to decrease estate taxes vs 9% without advisors.