AdviceIQ Financial Literacy Flash Survey

2013 Financial Literacy Survey In recognition of Financial Literacy Month, AdvicelQ.com captured the opinions of 350 financial advisors across the U.S. on their client's understanding of personal finance and the biggest challenges that they face with money. The majority of advisors say that men are more financially literate. 39% of the rest say both genders are about the same. Just over 9% 51.7% Il 9.2% say women are wiser about money. 39% Which age group is most financially literate? %24 WEALTHIER CLIENTS ARE MORE FINANCIALLY SAVVY 59.1% of advisors said that wealthier clients are the most 30s-40s 6% 40s-50s 40% financially literate, but more than a third said that wealth doesn't predetermine money skills. 60s and older 36% About the same 18% Biggest client mistakes... $ $ $ $ $ Waiting too long to start saving $ $ $ $$ $ Sell Low, Lack of Life Insurance Failure to have Underestimate Buy High a will Longevity Risk Average MOST CLIENTS HAVE AVERAGE FINANCIAL LITERACY Financial advisors say that even the clients that hire them are only of average financial acumen. More than 60% rated their clients financial knowlege as mid-level. Low High The AdvicelQ financial literacy survey was conducted online in March 2013 using AIQ's database of U.S. Financial Advisors to randomly poll thousands of advisors. Three hundred fifty advisors participated Advice Q with representative client bases of both high-net worth and middle-income investors. This is the first annual survey of financial literacy released by AdvicelQ. a groundbreaking online directory of trusted financial advisors and publisher of syndicated personal finance content and advisor rankings. 2013 Financial Literacy Survey In recognition of Financial Literacy Month, AdvicelQ.com captured the opinions of 350 financial advisors across the U.S. on their client's understanding of personal finance and the biggest challenges that they face with money. The majority of advisors say that men are more financially literate. 39% of the rest say both genders are about the same. Just over 9% 51.7% Il 9.2% say women are wiser about money. 39% Which age group is most financially literate? %24 WEALTHIER CLIENTS ARE MORE FINANCIALLY SAVVY 59.1% of advisors said that wealthier clients are the most 30s-40s 6% 40s-50s 40% financially literate, but more than a third said that wealth doesn't predetermine money skills. 60s and older 36% About the same 18% Biggest client mistakes... $ $ $ $ $ Waiting too long to start saving $ $ $ $$ $ Sell Low, Lack of Life Insurance Failure to have Underestimate Buy High a will Longevity Risk Average MOST CLIENTS HAVE AVERAGE FINANCIAL LITERACY Financial advisors say that even the clients that hire them are only of average financial acumen. More than 60% rated their clients financial knowlege as mid-level. Low High The AdvicelQ financial literacy survey was conducted online in March 2013 using AIQ's database of U.S. Financial Advisors to randomly poll thousands of advisors. Three hundred fifty advisors participated Advice Q with representative client bases of both high-net worth and middle-income investors. This is the first annual survey of financial literacy released by AdvicelQ. a groundbreaking online directory of trusted financial advisors and publisher of syndicated personal finance content and advisor rankings.