The share of UHNW investors – who have a net worth of $5 million up to $25 million not including primary residence – likely to use Fidelity has increased to 31 percent, up from 24 percent last year. The share intending to use Vanguard rose from 27 percent to 30 percent, and the percentage indicating they’ll go to Schwab rose from 16 percent to 19 percent.
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The three firms also ranked in the top three for offering innovating products and services, being trustworthy and are the most likely to be used in 2013. Fidelity and Vanguard, along with Northern Trust, ranked in the top three for offering talented advisors and being stable financial advisors. Merrill Lynch, Morgan Stanley and Northern Trust earned top marks for offering personalized services.
The increased likelihood of using Fidelity, Vanguard and Schwab may reflect UHNW investors’ growing appetited for stocks, bonds and international products, and related mutual funds. The share of UHNW investors likely to invest in stocks this year rose to 71 percent, compared to 52 percent last year.
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