Captive brokers may be holding their own with middle-market clientele, but more and more high-net-worth and ultra high-net-worth clients are turning toward independent financial advisers, according to two new surveys.

In the Securities Industry Association’s annual investor survey, general investor satisfaction with their brokers was 88%. About 46% said they were very satisfied with their adviser. The survey – conducted by Harris Interactive and covering 1,500 consumers with at least $50,000 in household income and $100,000 in investable assets – defines advisers as captive employees who offers financial planning and advice and conduct transactions for their clients.

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