Many Wealthy Investors Are Missing An Advisor
November 12, 2019 by Karen DeMasters
About one fourth of people with more than $1 million in investable assets do not work with a financial advisor, but market volatility could push them to do so, according to a study by Nationwide Advisory Solutions.
Twenty-seven percent of high-net-worth investors with $1 million to $5 million in investable assets and 22% of ultra-high-net-worth investors with more than $5 million in investable assets do not work with an advisor, according to Nationwide Advisory Solutions’ annual Advisor Authority study. But wealthy investors anticipate more market volatility in the future, which they said would make them more likely to seek the help of an advisor.
Nearly 60% of HNW investors and almost 66% of UHNW investors anticipate market volatility will increase, according to the 1,021 advisors and 824 investors who participated in the study.