High-net-worth investors are reordering their priorities when selecting investment providers, according to “New Horizon, New Behavior,” a study of 2,100 investors released by Barclays Wealth.

Since one year ago, these investors have become increasingly concerned about the quality and transparency of information they receive from investment providers. Also, providers’ financial stability is a bigger priority than it was a year ago.

The findings highlight a more circumspect approach that high-net-worth investors are taking to analyzing and selecting investments for their portfolios. Of the 2,100 investors questioned for the survey, 46% say that the financial stability of the investment provider will be a prime concern for the year ahead, up from 33% who held the same view last year. Similarly, 35% of participants said they would be focusing on the quality and transparency of investor information, up from 25% a year ago.

“There has to be more transparency on what fees are, and a lot more understanding of the risks of different products,” said Carol Pepper, founder and chief executive officer of New York-based Pepper International, an advisory firm. “We need a lot more plainly written, understandable disclosure of what products are and how they work: that is critical.”

Still, a majority of respondents—55%—continue to consider the provider’s reputation first. That number is down from 63% of respondents a year ago.

Barclays Wealth surveyed high-net-worth investors from the U.S., Europe and Asia, as well as investment professionals and economists, to gauge their attitudes about current economic conditions. The net worth of survey participants ranged from $820,000 to $50 million.

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