Wealth Management reports on the circumstances that lead to searching for a new advisor. "When investors accumulate a higher level of assets that requires more sophisticated financial solutions, or experience a financial life event (e.g., receiving an inheritance, selling a business), their needs become “top of mind.” These circumstances tend to stimulate word-of-mouth-influence—they start asking around. The data outlined below speaks directly as to what prompted an affluent investor’s search for a financial advisor: What prompted your search for your current financial advisor?
Accumulated enough assets - 43 percent, Financial life event - 24 percent, Unhappy with former advisor - 13 percent, Other - 13 percent [and] Not enough time to “do-it-yourself”- 7 percent"

Read more.

Back to List