If the results of the most recent Wealth Management Survey by the Phoenix Cos. of Hartford, Conn., is any indication of investors' satisfaction with their financial advisers, even advisers to the wealthy are doing a poor job of pleasing their clients. Fund companies looking to capture 401(k) rollovers should take note since a recent study by Cerulli Associates of Boston indicates that advice is the key to capturing 401(k) rollover assets.

Phoenix asked advisers and their high-net-worth clients to rate the advisers' performance. Clients said they did not blame their advisers for the poor performance of the market but felt that their advisers had lost touch with their individual savings goals, the survey showed.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.