For financial advisors, client trust and their investment track record are either your best attributes, or a couple of brewing problems.
Those two factors are the main reasons investors say they choose a particular advisor. They also are the top two areas that cause 71 percent of clients to feel disappointed by their advisors, according to new research.
"It makes sense that if those are the things that are most important to people, those are things that also will be what they feel most let down about," said Mike Maughan, head of global insights at Qualtrics, which recently released its Financial Customer Experience Report.
The study found that wealth advisory clients say trust (47 percent) and investment track record (42 percent) are the main reasons they chose their advisor. Those areas were also the top reasons for feeling like their expectations were not met: Investment track record was the biggest reason for letdown (22 percent), followed by trust (16 percent).