Survey participants favored portfolio performance and product access when choosing a financial advisor. Over half of the survey participants noted their primary reason for switching from their current financial advisor was due to "better investment performance" with another firm. The second most popular reason leading investors to switch financial advisors was access to a "broader range of products". Cost factors such as monetary fees and aligning investments with personal values/culture had less influence over survey participants when choosing to switch financial advisors.
Leading reasons why investors change financial advisor worldwide in 2021
The survey group was made up of 500 investment providers in the top
investment markets around the world and 2,325 investors from a range of wealth levels, ages, and locations. The survey covered four regions including Europe, Asia-Pacific, the Middle East, and North America.
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ThoughtLab. (November 4, 2021). Leading reasons why investors change financial advisor worldwide in 2021 [Graph]. In Statista. Retrieved December 18, 2024, from https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/
ThoughtLab. "Leading reasons why investors change financial advisor worldwide in 2021." Chart. November 4, 2021. Statista. Accessed December 18, 2024. https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/
ThoughtLab. (2021). Leading reasons why investors change financial advisor worldwide in 2021. Statista. Statista Inc.. Accessed: December 18, 2024. https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/
ThoughtLab. "Leading Reasons Why Investors Change Financial Advisor Worldwide in 2021." Statista, Statista Inc., 4 Nov 2021, https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/
ThoughtLab, Leading reasons why investors change financial advisor worldwide in 2021 Statista, https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/ (last visited December 18, 2024)
Leading reasons why investors change financial advisor worldwide in 2021 [Graph], ThoughtLab, November 4, 2021. [Online]. Available: https://www.statista.com/statistics/323804/leading-reasons-why-investors-change-financial-advisor-worldwide/
