April 22, 2016
The European wealthy consults a diverse array of sources for financial advice. Financial advisors are the most frequently used primary resource for guidance on money matters, serving 28% of HNW.
Twenty-five percent of HNWIs prefer to discuss financial matters with family members/friends and 23% turn to private bankers.
This divided preference suggests there is not a single business model which is able to meet the needs of the wealthy. It is also possible that professional advice is deemed non-essential, as personal networks are almost just as likely to be looked towards for advice.
