Ultra-wealthy investors, with their $25 million in household net worth, might be a tempting lure for advisors who want their business. But any professional money manager who wants them as clients has to sharpen his or her knowledge about alternative investments.

That’s because although these wealthy investors are casting a wary eye on investing conditions, they are still entrepreneurial risk takers at heart who like alternative investments such as hedge funds, according to findings from a new study by Chicago-based Spectrem Group.

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