Financial advisers don't always see eye-to-eye with their affluent clients, according to a recent study by Fidelity Investments. The nationwide study, which surveyed 510 affluent investors and 320 advisers, revealed differences in perception over clients' priorities and needs, as well as the most effective means for attracting new clients.
For one, financial advisers seem to overestimate the importance of their personal relationships with affluent clients and underestimate the value of investment performance. Half of affluent investors surveyed said that portfolio performance is more important to them than the strength of their relationship with the adviser, compared with about one-third of advisers. And almost twice as many affluent investors as advisers (63% versus 33%) cited improved investment performance as the chief reason for transferring assets.