Some Investors Prefer a Dentist's Drill Over An Advisor Visit

December 19, 2003 ( - No one could ever accuse many investors of being overly funded of financial advisors.

According to a new survey sponsored by Charles Schwab indicate that going under the dentist’s drill is a higher priority that meeting with a financial advisor while a relatively scant 22% view their investment portfolio as one of their three highest 2004 priorities.

Only 38% of those surveyed said they would sit across the desk from their broker or advisor. Meanwhile, a whopping 93% said were headed for the dentist’s chair or the doctor’s office while three quarters (74%) said they planned a cruise or some other vacation next year.

Another tipoff that respondents weren’t exactly in love with all things financial: 47% said they would rather do their laundry rather than carefully reading their financial documents. The bad news for advisors continues with word that those with an existing advisor relationship are almost twice as likely to cancel an appointment with their advisor (22%) than they are to cancel a car-service appointment (13%).

Other priorities which respondents ranked among there top three 2004 priorities included family (96%), health (71%), relationships (58%), and career (41%).

StrategyOne conducted the Schwab survey by telephone between November 28 and December 1 among 484 randomly selected US investors.