More Americans Want Help in Meeting Their Financial Goals

NEW YORK (MainStreet) -- Despite improving economic conditions, more consumers are flocking toward financial professionals. According to a survey from TIAA-CREF, 35% of respondents said they were interested in receiving financial counsel, compared to only 24% last year. Still, a staggering 65% said they weren't open to gaining financial advice. "Sound advice begins with the advisor's deep understanding of your situation and your financial needs and goals," said Eric Jones, senior managing director of advisory solutions at TIAA-CREF. "Based on that, the advisor can provide recommendations on how much to save, how to diversify investments or what financial solutions make sense for your situation." The study found that of those who received financial advice, 66% felt more sanguine about their finances, 86% acted on the advice, 62% altered how they spent their money and 46% upped their retirement contributions. "More people seeking financial advice tells me they feel better about their finances and they're in a position to invest," said financial expert Gail Cunningham of the National Foundation for Credit Counseling. "When you're living paycheck to paycheck, you don't have spare money to save or invest, so this is a good sign for the economy." The significant melt up in the equities market may be prompting some consumers to gain more exposure to stocks. The Dow Jones Industrial Average remains up almost 157% since its low on March 9, 2009. Continue Reading on MainStreet

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