Does Performance Trump Planner Relationships?

December 2003
Journal of Financial Planning;Dec2003, Vol. 16 Issue 12, p20
Academic Journal
The article focuses on a survey by Fidelity Investments which explored the influence of performance on the relationships between financial planners and their wealthy clients. The survey found that half of the affluent investors viewed performance as more important than their relationship with their advisor, while only 31 percent of the advisors interviewed felt the same way. Advisors were more than four times as likely as clients to feel that personal relationships were more important than performance. Men investors, much more than women, place a higher emphasis on successful performance. The study also found that 56 percent of the affluent investors had two or more advisors. While the majority preferred to receive all their financial services from a single firm, they found they could not get everything under a single firm, particularly concierge services and tax planning.


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