Friday, 5th September 2008

 

23 July 2008 - Press Briefing

Survey shows client dissatisfaction with wealth managers

Affluent clients are unsatisfied with the returns achieved by their wealth managers, particularly those at large brokerages or banks, a new survey conducted last week by Prince & Associates has shown, according to a Forbes report.

The survey, carried out among 498 affluent investors with investable assets over $1m (€633,480), showed that clients with money at brand firms were more likely to be considering withdrawing their investments from their advisor and even quitting altogether, said the report.

About six out of 10 clients at brand firms recommended other investors to stay away from their advisor, the study revealed.

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