Advisor Opportunity? Emerging Millionaires, Study Shows

Summary: The study from Fidelity's Insights on Advice series shows that 77% of those averaging $800,000 in total assets and an average household income of $150,000 do not have a written financial plan with 70% reporting they are "not very knowledgeable" about investing. Even so, only 51% said they work with financial advisors and 39% are "choosing to go it alone" with investing. Of those not working with a financial planner, 46% indicated they felt advisors "aren't interested in investors with smaller assets" and 53% were turned off by advisor fees.