Financial advisors got some welcome, and perhaps surprising, news this week: nearly half of affluent US citizens work with a financial advisor, 63 per cent have been working with their advisor for more than six years and 81 per cent are satisfied with the help they receive.

“It’s counter-intuitive to what you’ve been hearing,” said Sallie Krawcheck, president of global wealth and investment management for Bank of America, speaking at a teleconference after the release of the Merrill Lynch Affluent Insights Quarterly Survey this week. “We’re finding a greater engagement between advisors and clients, and it shows that the relationship is not short-term,” she said.

As reported earlier this week, the Merrill Lynch survey found that people are concerned about their retirement income and health care costs, a fact which is encouraging Krawcheck to make retirement planning a top priority for her firm.

There was more good news from the report from advisors' perspective in the survey. The report, which surveyed individuals with investible assets of $250,000 or more, found that among the 56 per cent of those surveyed who did not work with a financial advisor, 25 per cent believe they would benefit from such a one-on-one relationship, and  more than one quarter (27 per cent) wish they had started working with their financial advisor earlier.

When asked to indicate the importance of various financial advisory services, survey respondents cited proactive investment advice (71 per cent); check-ins to help ensure they’re on track with their financial plan (69 per cent); financial advice to live the lifestyle they want in the future (70 per cent) as well as today (63 per cent).

Two-thirds said they wanted holistic, overall financial planning and help to ensure necessary cash flow and liquidity, while 42 per cent wanted a plan to support philanthropic priorities.