Wealthy investors plan to increase their use of financial planners this year, according to a report by Spectrem Group.
More than one-quarter of ultra-high net worth investors plan to increase their use of independent advisors in 2014, compared to only 17 percent in 2012. Seventy-four percent of this group have a net worth between $5 million and $9.9 million.
Mass affluent and millionaire investors also plan to work more closely with independent advisors this year. Mass affluent investors are those with wealth between $100,000 and $999,000. Of the millionaires who were surveyed, 21 percent said they would work with an independent financial planner this year, a 5 percent increase from a year ago.
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