SOURCE: Luxury Institute, LLC

Luxury Institute, LLC

May 10, 2011 10:25 ET

High Net-Worth Investors Weigh in on Wealth Managers; Luxury Institute WealthSurvey Shows Bigger Not Better as Boutiques Dominate in Brand Status but Big Firms Remain Popular

NEW YORK, NY--(Marketwire - May 10, 2011) - Two new pieces of wealthy investor research released today by the independent and objective New York City-based Luxury Institute show wealthy U.S. investors with income of at least $200,000 per year and net worth of $5 million to have a dim view of Wall Street but extreme loyalty to their primary advisors.

In the 2011 Wealth Management Client Experience survey, wealthy investors say that the securities industry is reluctant to punish those who commit wrongful acts (43%), driven by greed (38%) and slow to disclose conflicts of interest (32%). Nonetheless, there's resistance to change with 45% of high-net worth investors spending at least 10 years with their advisor.

More than one-third (36%) of these investors use a full-service broker as primary advisor, while 28% use an independent advisor and 12% use a private bank. Morgan Stanley, Merrill Lynch and Wells Fargo are the top three primary wealth managers to the wealthy.

In the 2011 Luxury Brand Status Index (LBSI) wealth management survey, clients ranked national firms on quality, exclusivity, social status and overall client experience. Atlantic Trust Private Wealth Management earns top honors (6.96), followed by Glenmede Trust (6.78) and Rockefeller Wealth Management (6.67).

"Wealthy clients want to stay loyal to their advisors," says Milton Pedraza, CEO of the Luxury Institute, "It's up to these firms to validate that loyalty."

More details, broken down by respondents' age, gender income and wealth, are available to journalists and upon request.

About The Luxury Institute (
The Luxury Institute is the objective and independent global voice of the high net-worth consumer. The Institute conducts extensive and actionable research with wealthy consumers about their behaviors and attitudes on customer experience best practices. In addition, we work closely with top-tier luxury brands to successfully transform their organizational cultures into more profitable customer-centric enterprises. Our Luxury CRM Culture consulting process leverages our fact-based research and enables luxury brands to dramatically Outbehave as well as Outperform their competition. The Luxury Institute also operates, a membership-based online research portal, and the Luxury CRM Association, a membership organization dedicated to building customer-centric luxury enterprises.

Contact Information

  • For Further Information, Please Contact:
    The Luxury Institute, LLC
    Martin Swanson
    Vice President
    (914) 909-6350