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I'm not a millionaire; but I learned - quickly, with the GFC - that "wealth advisors" are absolutely useless.Inside Wealth: Millionaires value their personal trainers and therapists more than their wealth advisors
Millionaires are increasingly dissatisfied with their wealth managers and accountants, but they prize their personal trainers and therapists, according to a new survey.
- Only a third of millionaires use a wealth advisor for their financial planning and 1 in 5 plan to fire their advisor due to high costs and poor service, according to a new survey from Long Angle.
- By contrast, millionaires are highly satisfied with their personal trainers, therapists and other professionals who help with their overall wellness and family care.
- The results highlight the growing importance of so-called "soft services" for the wealthy, as wealth managers, private banks and other firms look to attract and retain more high-net-worth clients.
Only a third of millionaires use a wealth advisor for their financial planning and 1 in 5 plan to fire their advisor due to high costs and poor service, according to a new survey from Long Angle, the professional network for startup founders and CEOs. Among those who do use an advisor, 26% are considering switching and 18% may stop using an advisor altogether.
More:
https://www.msn.com/en-us/money/per...-wealth-advisors/ar-AA1Q37EF?ocid=socialshare
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