How Likely Is Your Client to Recommend You?

Jul 13, 2020 / By Elaine Belsito
Horsesmouth Assistant Editor
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Chart Talk: Among the mass affluent, what percent of clients say they would gladly recommend their advisor to friends?

According to recent research from Cerulli and SIFMA, by measures of trustworthiness, dedicated relationships, and personalized advice, advisors are meeting investor standards. And this applies not only to high-net-worth clients—those of more moderate wealth also want to rely on a person-to-person advisory relationship.

According to the research, 33 million U.S. households with between $100,000 and $1,000,000 in investable assets—the mass affluent—currently hold $6.5 trillion with securities firms. The average relationship size is $135,000. In total, these investors account for more than 26% of the U.S. population and control over $11 trillion, or nearly 23% of investable assets in the U.S.

More than three-quarters (77%) of these investors believe their advisor is worth the cost. Only 4% indicate the advisor is not worth the cost. And asked if they would recommend their advisors, some 75% of the mass affluent said they certainly would.

Source: Cerulli

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