Financial Decision-Making a Joint Effort for High-Net-Worth Couples, Survey Finds
September 09 2014 - 10:00AM
Business Wire
Morgan Stanley Wealth Management Survey
Finds That Couples Collaborate on Key Decisions Related to
Retirement
Financial Advisors Recognize Couples’
Partnership in Financial Decisions
Nearly seven in ten high-net-worth individuals in a marriage or
domestic partnership say they collaborate with their partner on key
financial decisions, according to the latest Investor Pulse Poll by
Morgan Stanley Wealth Management.
The survey found that 66% of high net worth investors made joint
financial decisions with their spouse or partner, and this was
particularly true on matters related to retirement.
“The days when most financial decisions in a household were made
unilaterally are clearly over, and financial advisors recognize
this fact,” said Shelley O’Connor, Head of Field Management for
Morgan Stanley Wealth Management.
“Fully 80% of the couples we surveyed said their financial
advisor talks with both parties – usually when they meet together
as a group. Helping couples collaborate on important life decisions
is a key part of every financial advisor’s value proposition.”
Issues of retirement lead the list of subjects that couples
discuss and make decisions on jointly, according to the survey.
Couples report that both partners are equally likely to start
conversations about these topics:
- Having enough money to sustain
lifestyle after retirement (71%)
- How to fund retirement (70%)
- Your spouse’s/partner’s health
(67%)
- Planning for an unexpected serious
illness (66%)
- Helping pay for
children/grandchildren’s education (66%)
- Preserving wealth for heirs (66%)
The survey includes responses from over 1,000 investors across
the U.S. with at least $100,000 in investible assets, a third of
which have assets of $1 million or more. The sample is
representative of 94% of total U.S. household investible
assets.
The Morgan Stanley Investor Pulse Poll was conducted via
telephone interviews among 1,000 investors nationwide with $100,000
or more in investible assets and between the ages of 25 and 75. The
survey was conducted May through July 2014. The overall survey
sample has a margin of error of +/- 3.0 percentage points, and is
higher for subgroups.
Morgan Stanley Wealth Management, a global leader, provides
access to a wide range of products and services to individuals,
businesses and institutions, including brokerage and investment
advisory services, financial and wealth planning, banking and
lending, cash management, annuities and insurance, retirement and
trust services.
Morgan Stanley (NYSE:MS) is a leading global financial services
firm providing investment banking, securities, investment
management and wealth management services. With offices in more
than 43 countries, the Firm's employees serve clients worldwide
including corporations, governments, institutions and individuals.
For more information about Morgan Stanley, please visit
www.morganstanley.com.
©2014 Morgan Stanley Smith Barney LLC. Member SIPC
Morgan StanleyMedia RelationsJim Wiggins, 914-225-6161orChristy
Jockle, 914-225-6827
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