February 1, 2008

Few Wealthy Clients Loyal to Their Advisers

Less than 12% of affluent investors responding are loyal to their advisers, according to a survey from Janus Labs, in partnership with private wealth industry expert Russ Alan Prince.

Reported by Rebecca Moore

Loyal clients: give 8.7% more in assets; provide four times as many referrals; take away fewer assets; take money from other advisers first; and receive nontraditional services. The survey of more than 900 affluent investors also revealed that respondents do not consider investment performance as important as client experience to successful adviser relationships, and they only hold advisers accountable for things they can control.