HNW investors reinforce value of ‘human connection’ with advice
A new survey of high-net-worth (HNW) investors commissioned by Praemium has emphasised the importance of trust and human connection when it comes to financial advice, at a time where tech-powered solutions continue to integrate even further into the advice journey.
Of the 151 advised HNW investors surveyed, 36 per cent ranked trust as the most important aspect of their adviser relationship – beating out investment performance (22 per cent) and strategic advice (13 per cent) – and 42 per cent said they preferred face-to-face meetings with their adviser.
Even 50 per cent wanted to hear from their adviser on a monthly basis, reinforcing the importance of “personal connection and regular engagement”. Advisers who focus on delivering personalised services and tailored solutions were more likely to record higher client satisfaction, with HNW investors particularly appreciating help to make informed decisions (38 per cent), understanding of life goals and family needs (34 per cent) and considering all family members when it comes to implementing wealth strategies (34 per cent).
Denis Orrock, Chief Strategy Officer at Praemium, said the rise of artificial intelligence (AI) has only heightened the value of human connection in ensuring client satisfaction.
“The research reinforces that the most valued advisers are those who deliver a truly high-touch, personalised service that focuses on the whole picture. These advisers help clients navigate not just investments, but family, legacy, and life’s big transitions,” Orrock said.
“Technology can’t replace the human element in providing financial advice, but it can help you find the time for those meaningful conversations investors really value. That’s why platforms like Praemium focus on driving efficiencies in administration and portfolio management, freeing advisers to dedicate more time to where it matters most.
“By providing reporting and engagement tools that enable truly holistic advice, we can supports advisers to build deeper relationships and deliver the high-touch service clients expect.”
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