There is a difference between investors who use financial advisors and those who are dependent upon them, according to a study by Spectrem.
There is also a difference between investors who use advisors to manage their assets and those who use advisors to increase their assets.
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Investors can even argue with themselves about their usage and dependency on advisors.
Spectrem’s study Relationships with Advisors asked investors to detail the types of advisors they use to manage their assets. Among ultra-high-net-worth investors with a net worth between US$5 million and US$25 million, 11% say they do not use advisors.
However, among the same wealth segment of investors, 27% consider themselves "self-directed” investors, who "make their own investment decisions without the assistance of an investment advisor."
Investors still looking for a reputable advisor can get help by searching Millionaire Corner’s Best Financial Advisors service.
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By GlobalDataThe difference lies in the relationships between investors and advisors and the types of financial providers who are considered "advisors".
