A survey of individuals on the fast track to wealth has found that 74 percent of respondents chose a new wealth manager on the basis of the firm's reputation for quality of products and services, and 64 percent looked to the costs associated with those products and services.
Advisors wanting to attract these affluent people as clients need to understand that their character and fees are critical factors in the minds of affluent people when evaluating potential relationships, SEI, Scorpio Partnership and NPG Wealth Management said in releasing the latest study in their ongoing Futurewealth Project.
The study surveyed 3,025 respondents globally with an average $2.9 million in net worth.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
