Although the stock market has recovered substantially since 2008, the legacy of the recession is still affecting the way the ultra-high net worth market looks for third party advice.
According to a Phoenix Marketing International survey, wealthy investors with over $5 million in investable assets have been looking to take more control over their investments and reduce some of the complexity of their portfolios. Results showed that 38% of the so-called penta-millionaire group were becoming more actively involved in their investments following the recession, and 61% percent are using their advisors selectively compared to 39% before the recession.
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