What Do The Least Loyal Clients Look Like? New Evidence That Investors Are On The Move Hot

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Northstar Research Partners and the Sullivan communications group made waves last month by revealing that a full 1/3 of all the Americans out there with more than $100,000 to invest are open to switching advisors. 

 

This time around, they surveyed a different group of wealthy people and got the exact same headline figure: 36% of the people polled are willing to move.

 

Some key takeaway points on why those clients -- potentially your prospects -- are restless:

 

* Uncertainty. A full 84% have no clear idea where their portfolios or financial lives are headed. If these people's advisors have created financial plans for them, they evidently weren't convincing.

 

* Communication. Surprisingly, it only takes one meeting a year to make 63% of all the clients out there "very satisfied" with their advisory relationships. Naturally, anything more than that will help boost retention.

 

* "Affluents" on the move. The danger zone seems to be investors with $250,000 to $500,000 looking for -- as mentioned in the earlier survey -- better investment performance. This makes sense for a lot of reasons: they're a bit more sophisticated and demanding at this level, but still not rich enough to live comfortably on 4% a year.

 

* Risk tolerance is still low. Even the youngest group in the survey have 42% of their portfolios in cash. An overly "aggressive" or realistic allocation may frighten them unless it's backed up with compelling demonstrations of why long-term growth is crucial.

 

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