More than half (57%) of wealth management clients are not advocates of their advisory firms, and over 40% do not consider their firm a "trusted adviser" to help them meet their financial goals.
Tag: Wealth Management
Almost all (91%) financial planner CPAs surveyed by the American Institute of Certified Public Accountants (AICPA) cited retirement as a top personal finance concern of clients.
More than three-quarters (85%) of participants in 401(k) and other defined contribution plans say they would use general retirement planning services if available.
The main reasons millionaires turn to financial advisers are to get a recommendation from a trusted person, to reach a certain level of wealth, and to start planning for retirement.
By the end of 2010, UBS, the world's largest money manager, plans to have $250 billion in ultra-high net worth client assets under management, and about 400 advisers serving those clients.
A survey conducted for Putnam Investments found 15 million workers age 45 or over are providing financial support for an aging parent or adult child, and that is altering their retirement plans.