04.04.24
Wealthy Investors Prefer Advisors at Big Firms
by: Diana Britton
A new survey from Cerulli Associates revealed that 39% of advised investors across all wealth tiers said they prefer to work with an advisor who is employed by a national organization. That was also the top preference for investors who are not currently working with an advisor, at 32%. The choice was most pronounced among the more affluent investors. The Cerulli report attributes these results to the fact that the wealthy tend to be older and have a greater comfort level with established brands. “These overall preference levels present a bit of a challenge to emerging registered investment advisors and independent broker/dealer advisors, as they rarely possess high levels of unaided awareness among prospective clients in their periods of critical advice need,” said Scott Smith, director of advice relationships at Cerulli.
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