A survey of high-net-worth and ultra-high-net-worth investors by Advisor Perspectives found that left to their own devices, about a third will park their money in index funds, the Financial Times reports. But working with an adviser, they feel more comfortable investing in an actively managed mutual fund or separately managed account; if they are working with an adviser, only 3.8% of wealthy investors’ money is in index funds.

When working with an adviser, high-net-worth investors tend to “take an active approach to investing and seek returns in excess of market benchmarks,” according to Advisor Perspectives.

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