Millionaires Prefer Personal Trainers Over Wealth Advisors
- Millionaires are increasingly dissatisfied with their wealth managers and accountants, but thay highly value their personal trainers and therapists, according to a new survey.
- Onyl a third of millionaires use a wealth advisor for their financial planning, and a meaningful 1 in 5 are planning to fire their advisor due to high...
- The survey,conducted by Long Angle,a professional network for startup founders and CEOs,polled 114 individuals with a net worth of at least $2 million,with the majority (between $5 million...
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Millionaires Are Increasingly Dissatisfied with Customary Wealth management, Prioritizing Wellness
Table of Contents
The Shift in Priorities: From Balance Sheets to Well-being
Millionaires are increasingly dissatisfied with their wealth managers and accountants, but thay highly value their personal trainers and therapists, according to a new survey. This trend highlights a fundamental shift in what the wealthy prioritize – moving beyond simply growing their fortunes to focusing on overall well-being and family life.
Onyl a third of millionaires use a wealth advisor for their financial planning, and a meaningful 1 in 5 are planning to fire their advisor due to high costs and perceived poor service. Among those who *do* use an advisor, 26% are considering switching, and 18% may discontinue their services altogether. This dissatisfaction is a stark contrast to the high levels of satisfaction reported with professionals focused on personal wellness and family care.
Survey Findings: A Detailed Look
The survey,conducted by Long Angle,a professional network for startup founders and CEOs,polled 114 individuals with a net worth of at least $2 million,with the majority (between $5 million and $25 million) representing the core respondent group. Participants were asked to rank their satisfaction levels across 14 common professional services utilized by high-net-worth individuals, ranging from investment advice and estate planning to sports coaching and housekeeping.
| Service Category | Average Satisfaction Score (1-10) |
|---|---|
| Personal Trainer | 9.3 |
| Investment-Visa Advisor | 8.8 |
| Personal Sports Coach | 8.7 |
| Therapist | 8.7 |
| Private School | 8.3 |
| Day Care | 8.2 |
| Wealth Management | 5.2 |
| Accountant | 5.8 |
As the table demonstrates, personal services, childcare, and education consistently ranked at the top for satisfaction. The low score for wealth management is especially noteworthy, indicating a significant disconnect between the services provided and the expectations of high-net-worth clients.