Affluent high-net-worth investors are prioritizing affiliation with recognizable brands as a key factor when selecting an adviser, according to the latest Cerulli Edge — U.S. Managed Accounts Edition.
Working with a “large national organization” is a priority for 39% of affluent investors currently working with an adviser and for 32% of unadvised affluent investors. Cerulli’s first-quarter report also found that 28% of respondents have no strong preference for the type of firm their adviser is aligned with.
About 18% of affluent investors prefer to work with advisers who own and operate their own local practices. The least desirable choices were online-only advisory practices, as just 1% of advised respondents and 5% of unadvised selected this preference.
“While Cerulli believes digital platforms will play a crucial role in the future of advice, these results underscore the importance of human advisers as the core of wealth management competitive positioning,” said Scott Smith, director of advice relationships at Cerulli.
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