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The survey, conducted among 1,000 investors in the United States, brings the importance of trust in the advisor-client relationship into sharp focus. Indeed, respondents ranked a breach of trust (61%) above poor performance relative to expectations (54%) as a reason for exiting a relationship with an advisor.
'We've always operated with an informed hypothesis that trust is central to an advisor-client relationship,' said James Rockwood, founder and CEO of CapIntel. 'We have also long believed that establishing trust may be more nuanced than many advisors think. We wanted to test our theory by asking investors directly, and it's interesting to see what they said. Indeed, investors ranked trust as paramount during the wealth management experience. They also highlighted that it can be gained and lost in more ways than advisors might realize. I believe the survey offers great insight into how investors want to engage with their wealth advisors and encourage all advisors to reflect on how they are establishing and creating stronger bonds with their clients.'
