Nearly two-thirds of ultrahigh-net-worth investors expect volatility to increase in the next twelve months, and a similar number say that market volatility will increase their likelihood of working with an adviser.
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Those are among the key findings from Nationwide Advisory Solutions' fifth annual study of nearly 1,600 RIAs, fee-based advisers and individual investors. The Advisor Authority study, conducted online by The Harris Poll, also found that roughly one-quarter of high-net-worth (HNW) and ultrahigh-net-worth (UHNW) investors do not have a financial adviser. The study defined HNW investors as those with investible financial assets ranging from $1 million to less than $5 million, and UHNW investors as those with investible financial assets of $5 million or more.
"Helping more affluent investors address top concerns and manage the dynamics of today's complex markets are key for gaining their trust and earning their business," Nationwide said in a release.
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The survey found that the leading financial concern of HNW and UHNW investors this year is taxes (38% and 34%, respectively).
Protecting assets is a close second (37% and 33%), and the cost of health care is a more distant third (27% and 19%). In prior years, protecting assets was HNW investors' No. 1 financial concern (45% in 2018, 41% in 2017, 41% in 2016).
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