Insights | 09.01.21

Americans Are Changing Who They Turn to for Financial Advice

by: Francisco Velasquez

A Harris Poll survey of over 2,300 Americans conducted on behalf of Northwestern Mutual found about 26% say their most trusted source for financial advice this year is a financial advisor, while 20% said they primarily rely on themselves, versus 30% last year. After professionals and themselves, the most common people Americans look to financial for advice are their spouse or partner (16%) and a family member (13%). Northwestern Mutual's Tim Gerend said the survey generally indicates that the value of professional advice has risen in the last year, partly because of the pandemic. Some 38% of respondents say they are currently working with a financial advisor, up from 29% before the pandemic.

Read the full article on CNBC.