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26% Change Financial Advisors Amid Economic Uncertainty

4/23/2025

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Summary

Story summary

Economic downturns and life events prompt many to seek new financial advisors, as reported by The Ensemble Practice.
26% of Americans change advisors due to recession concerns, following inheritance (27%) and retirement (25%).
Trust plays a vital role in advisor selection, with many relying on recommendations from friends or family.
20% of investors intend to hire an advisor within two years, particularly mid-career professionals.

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Story summary

Economic downturns and life events prompt many to seek new financial advisors, as reported by The Ensemble Practice.
26% of Americans change advisors due to recession concerns, following inheritance (27%) and retirement (25%).
Trust plays a vital role in advisor selection, with many relying on recommendations from friends or family.
20% of investors intend to hire an advisor within two years, particularly mid-career professionals.