Wealthy women want three things from their financial advisors: honesty, trustworthiness, and transparency, according to “Wealthy Women Investors,” a Spectrem eZine report released on Thursday.

Ninety-eight percent of women with a net worth of $100,000 to $25 million, not including their primary residence, reported that honesty and trustworthiness are critical when choosing financial advisors, while 95 percent say they seek transparency and someone who will keep them informed.

“For wealthy female investors, openness, transparency and trustworthiness are the most important qualities in selecting a financial advisor,” said Catherine S. McBreen, Managing Director of Spectrem Group, in a press release. “Across the affluent, millionaire and Ultra High Net Worth wealth segments, women want to be comfortable that advisors are focusing on their specific, personal financial needs – not on product or profit.  In fact, a frank, straightforward approach is more important to wealthy women than investment track record, depth of products offered, referrals, and even fees.”

At the same time, wealthy women are distrustful of advisors who are too focused on sales or less than fully open and transparent.

The Spectrem eZine "Wealthy Women Investors” report is based on a Spectrem Group study of 3,024 households conducted from September to November 2010, as well as on focus groups and one-on-one interviews conducted on an ongoing basis. The margin of error for the quantitative data is plus or minus 2.9 percentage points.