Investors feel they don’t have “personal relationships” with their wealth managers despite the fact that wealth managers consistently brand themselves as being in the “relationship” business, according to a poll released on Tuesday by SEI Global Wealth Service.
In fact, the survey titled The Relationship Business: Expect the Unexpected found that the financial services industry ranked below men’s fashion in delivering empathy. Even though both wealth managers and investors agree on the definition of empathy, 62% of investors report that their wealth managers fail to demonstrate empathy.
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