“It’s a startling and eye-opening fact that 70% of widows fire their financial advisors within one year of the death of their spouse” — Kathleen Burns Kingsbury
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In this quote, Kathleen Burns Kingsbury is sharing research findings that show the majority (70%) of widowed women end up terminating their financial advisors within a year of their spouse passing away.
The best interpretation is that Kingsbury is highlighting how unsatisfactory most widows find the guidance and support provided by their advisors during this difficult transition period after loss of a partner. It appears the services offered fail to adequately meet widows’ complex financial and emotional needs when dealing with investments, retirement planning, taxes and other money matters alone for the first time.