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Telephone Tops Communication Options |
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Despite the ease and convenience of online communications, affluent individuals still overwhelmingly prefer to speak to their advisors on the telephone about routine matters.
In fact, the affluent favor telephone contact by an eight-to-one margin over e-mail (80% vs. 10%). Another 10% want to visit their advisors.
Research shows the preference for telephone contact increases with age, rising from 69% of those who are 45 or younger to 88% of those who are 66 or older. Conversely, the preference for e-mail declines with age, falling from 19% of those who are 45 or younger to just 2% of those who are 66 or older.
The preference for telephone contact also increases with wealth. Fully 90% of those who have more than $1 million in assets want to communicate with their advisors via telephone, vs. 73% of those who have less than $1 million in assets.
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High Net Worth Advisor Insights Newsletter April 2008
