Millionaires who do not currently have long-term care or estate plans are going to be asking their advisors for that information in the near future, according to a Spectrem study.

The research on investors with a net worth of between US$1 million and US$ million Not Including Primary Residence shows while only about one-fourth of all Millionaires currently received information from their advisor on long-term care or estate planning, another 23% of Millionaires want to get that information from their advisor in the future.

Approximately 30% of Millionaire investors say they don’t need that advice.

Among areas in which more Millionaires will be seeking guidance is implementing tax advantaged strategies. While 45% of Millionaires already get that advice, another 17% say they plan to request it. Twenty-four percent of Millionaires say they do not need tax strategies from their advisor.

The advice already provided to the greatest number of Millionaire investors is to diversify assets. Fifty-seven percent of Millionaire investors already get that advice and another 11% will be looking for advice on how to diversify from their financial advisors.

Fifty-six percent already have an investment plan, and 54% already have advice on selected individual stocks and bonds.

Fifty percent of Millionaires already have advice on planning for retirement, while another 10% are ready to get that advice.

Services offered by advisors is one of the most important factors when an investor is looking to choose a new advisor. Eighty-six percent say "depth of products and services to meet the range of wealth management needs" is important in choosing an advisor.

The three factors considered important by more investors are "individual is honest and trustworthy (95%)", individual provides transparency and keeps me informed on what they are doing (92%)" and "investment track record of advisor (92%)".

While 62% of Millionaire investors say they have no need for advice on selecting alternative investments such as hedge funds, 20% already have received that advice, and 12% plan to seek that advice.

Twenty-six percent of Millionaire investors 44 years old and younger already have that advice, and another 24% (twice the average) plan to get advice on hedge funds and alternative investments in the near future.