Are your clients thinking about leaving? Will an era of muted returns lead even more financial advisors' clients to jump ship?
A 2015 study by Spectrem Group found that more than 60 percent of high- and ultrahigh-net-worth respondents had switched advisors over their lifetimes. The percentage was 51 percent for the less-wealthy "mass affluent." But are the numbers of dissatisfied clients even higher than this?
Inertia will keep some clients from moving, said Edward J. Kohlhepp Sr., owner and president of Kohlhepp Investment Advisors.