Survey From The College for Financial Planning—a Kaplan Company Finds More Investors Turning to Financial Advisors as a Result of the Pandemic

·2-min read
  • 71% of financial advisors have more clients now than prior to COVID-19;

  • 70% of clients have not postponed retirement because of COVID-19;

  • 61% will not change client investment advice if there is a change in White House.

A survey conducted by The College for Financial Planning®—a Kaplan Company finds financial advisors in greater demand after onset of COVID-19.

"The survey is telling us two important things," said Dirk Pantone, president of The College for Financial Planning®—a Kaplan Company. "There is a high level of confidence in certified investment advisors that is driving the demand for their services, and that financial advisor clients are not panicking and following the long-term plan set out by their advisor."

Survey questions

  1. Do you have more clients now than prior to COVID-19?
    Yes – 71%
    No – 29%

  2. Have clients postponed retirement as a result of COVID-19 and the current recession?
    No change – 71%
    Delayed – 17%
    Moving up 12%

  3. Do you see any concern regarding inflation in the coming year?
    No – 61%
    Yes – 31%
    Not sure – 8%

  4. If there is a change in the White House in January 2021, will this impact your investment advice to clients?
    No – 61%
    Yes – 39%

The survey of 209 financial advisors was conducted from August 25 to October 2, 2020.

About the College for Financial Planning

Founded in 1972, the College for Financial Planning®—A Kaplan Company provides accessible and flexible degree, non-degree and continuing professional education programs to students nationwide. Shortly after its founding, the College introduced the CERTIFIED FINANCIAL PLANNERTM certification, which is now the world's most recognized and respected financial planning credential with more than 87,000 certified professionals.

In addition to its CFP® Certification Professional Education Program, the College also offers a master’s degree in personal financial planning and professional designation programs that provide more in-depth knowledge of the finance industry, with specializations ranging from asset management and retirement planning to sustainable, responsible and impact (SRI) investments. The College for Financial Planning is accredited by the Higher Learning Commission and is a member of the North Central Association. More than 160,000 students have graduated from the College’s programs. For more information, visit www.cffp.edu

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