Independent financial advisers managed to increase their clients assets an average of 11% last year, according to a survey of 370 firms by Bloomberg Wealth Manager magazine.
In fact, more than 20% of the advisers surveyed which the magazine ranked as the leading high-net-worth financial advisers said their biggest challenge was how to manage growth. And 11% reported they increased their clients assets by an average of 30% or more in 2002.
"It seems that during 2002, wealthy individuals whose portfolios had suffered at the hands of their broker or because of their own poor judgment continued to turn to independent advisers for counsel," said Kieran Beer, executive editor of the magazine.
