Only 42% of couples who have advisors work with them jointly, according to a new Fidelity study  -- and that’s a problem, according to experts at the custodial operation. In the remaining 58% of couples, male partners manage the advisor relationship while their significant others don’t participate.

“If wives don’t have that relationship, one on one with their advisor, what we are hearing from women is, ‘I have no allegiance to that advisor,’” says Jylanne Dunne, senior vice president of practice management and consulting for Fidelity Institutional Wealth Services. “Our bottom line is that is the big [challenge] for advisors is: They have to find a way to engage with [wives] directly.”

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access