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New Study Finds Clients Using Financial Advisors Are Happier

The survey from Herbers & Company found that individuals with assets exceeding $1.2 million and benefiting from the services of an advisor displayed far more satisfaction than those that did not.


Customers working with a financial advisor tended to be happier than those without, with the levels of happiness diverging as clients gained more assets, according to a new survey.

In its 2021 Consumer Financial Behaviors Study, Herbers & Company asked 1,000 people around the country about their levels of happiness. Respondents had to self-report assets equal to or greater than $250,000, with 54% of respondents being male and 79% of total respondents reporting they were married or living with a significant other.


Financial therapist Sonya Lutter, Herbers & Company’s director of institutional research and education, directed the study, with the methodology incorporating an assessment of respondents’ feelings on four "predictors" of happiness—gratefulness, intention, impact, and fulfillment.





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