The majority of high-net-worth investors have stuck with their financial advisers despite heavy losses to their portfolios as a result of the financial crisis that have left them “highly distrustful and disillusioned."
“There is a lot of irony from the survey. Investors are disillusioned but they optimistic,” said Jim Neuwirth, the managing director of Northstar Research Partners. “Investors have been burned by the market. Some have even been burned by their advisers. They have lost money, but they are sticking with their advisers.”