Snappy Kraken Survey Reveals About Half of High-Net-Worth Retirees are Considering Hiring a New Financial Advisor

Advisors risk attrition if not consistently communicating with clients during difficult markets

ORMOND BEACH, Fla.--()--Snappy Kraken, the MarTech innovator serving financial services professionals, today announced the results of its survey of high-net-worth (HNW) retirees and pre-retirees. The survey, which focused on bear markets and the threat of a recession, found that slightly more than half (52 percent) of respondents would consider hiring a financial advisor within the next 18 months.

Featuring responses from nearly 800 people with at least $200,000 in household income who were either retired or nearing retirement, the survey revealed a distinct opportunity for advisors to be more proactive. Of note, 20 percent of respondents were not currently working with a financial advisor but expressed an interest in doing so. The survey responses also indicated that strong client service and constant communication are the keys to maintaining and expanding an advisor’s client base during tough markets and economies.

“In times of recession or market turbulence, advisors that remain highly visible and connected to their clients are better positioned to thrive,” said Robert Sofia, Co-Founder and Chief Executive Officer of Snappy Kraken. “Satisfied clients can be a great source of referrals, especially during times of financial uncertainty. Advisors who fail to address their clients’ unspoken fears might lose them to competitors who understand the powerful emotions that economic and market challenges can evoke.”

For advisors’ marketing efforts to generate meaningful results, they need a research-based approach that’s reflective of what their target market is thinking, feeling and talking about. That was among the reasons Snappy Kraken conducted this survey – to provide advisors with insights into the various ways their clients are dealing with market volatility. In addition to the findings detailed above, the survey indicated:

  • Investors want to know how long a recession might last, what to expect should one occur, and if they’re positioned to weather its effects. Those who expressed confidence in the current market still relayed worries about creeping inflation, the potential of postponing their retirements, the need to reduce their lifestyle expenses, and optimal allocation ahead of retirement.
  • Retirees with higher incomes aren’t particularly concerned about a recession or bear market; rather, they want to know how they can grow their wealth after such events and leave a legacy for the next generation.

Sofia added: “To achieve meaningful connections with clients, advisors must take care to regularly check in via email and text message. Webinars, seminars and educational events are also good ways for advisors to keep clients informed and demonstrate their expertise.”

Snappy Kraken conducts deep audience research as a part of its marketing campaigns. For more information about the survey or Snappy Kraken’s services, go to


Snappy Kraken is an award-winning marketing technology firm that provides marketing automation, personalized website design and bold, unique marketing campaigns for the financial services industry. Data-informed decision-making drives each marketing campaign. Snappy Kraken received the 2022 Wealth Management Industry Award in the area of Digital Marketing Campaign of the Year for its Blend Out campaign. The prior year, Snappy Kraken won the WMIA Social Media Leadership for Technology Providers award for its annual marketing research report, and the Marketing Automation for Technology Providers award for its “Cold to Gold Framework”. Recognized by Benzinga in three categories in 2020 as well as by MarTech Breakthrough as best overall content marketing software three years in a row, Snappy Kraken ranked number eight and number three respectively on the last two Financial Planning Best Fintechs to Work For lists.

To learn more about Snappy Kraken's solutions for financial advisors, including white-labeled enterprise solutions, and to use the new and enhanced tools recently announced, visit


Allie Zendrian

Jason Lahita